All suppliers to Coles and Woolworths need to now ensure more than ever that their supply agreements are tight and cover key areas to ensure they are protected.
The proposed new food and grocery code places key importance upon the supply agreement that is negotiated between the supplier and the retailer.
There are minimal protections in the code for the actual deal negotiated within the supply agreement. Protections provided for in the code can be watered down by agreements to the contrary within your supply agreement.
Now more than ever it is important for suppliers to Coles and Woolworths to lock in comprehensive and protective supply agreements with the supermarket giants in advance of the code coming into existence and also once the code has come into existence which is likely to be later this year.
If you would like advice in relation to the key matters to be covered in relation to a supply agreement or would like assistance negotiating a supply agreement please do not hesitate to contact: