Document background
The Master Sale and Purchase Agreement serves as a foundational document for establishing long-term commercial relationships between buyers and sellers in Canada. It is particularly suitable for businesses engaged in regular, ongoing transactions where having a comprehensive framework agreement can streamline operations and reduce transaction costs. This agreement type is designed to comply with Canadian federal and provincial laws, including the Sale of Goods Act, Competition Act, and relevant consumer protection legislation. It typically includes detailed provisions for ordering processes, pricing mechanisms, quality standards, and risk allocation, while allowing flexibility for specific purchase orders to be placed under its framework. The agreement is especially valuable for businesses seeking to establish standardized terms for multiple transactions while maintaining the ability to adjust commercial terms through schedules that can be updated without revising the entire agreement.
