Ms. Shazia Cyrus is an established entrepreneur who has successfully built two unicorn startups.
While she was participating as a judge in one of the episodes of ‘Fish Tank’, a reality show where
different participants pitch for investment for their startups before an erudite panel of judges who
are successful entrepreneurs, she got an idea of opening a train themed restaurant where the food
will be served on toy trains to the customers. She felt that the advent of QSR (Quick Service
Restaurants) have taken away the joy of dining out in a restaurant. In order to deliver an extra
ordinary experience to the customers, she decided to open a train themed restaurant. She hunted
for a property located at 301/1, Vaddy, Siolim, Goa – 403517. Since there is not much to experiment
with the food and cuisines, she focused on the aesthetics and interiors of the restaurant. In search of
inspiration, she followed the Architectural Digest which happens to be one the world’s leading
magazine for architectural and interior design. She contacted one of the design studios featured in
the magazine, ‘The Cyan Lane’ located at 29, 1 st Floor, Sonawala Building, Horns Circle, Main Road,
Fort, Mumbai, Maharashtra – 400023, and had a successful meeting with them. The Cyan Lane asked
Ms. Shazia to enter into a Purchase and Supply Agreement for purchasing the furnishing for the
restaurant.
Draft a purchase and supply agreement based on the following notes provided by your Client: [25
Marks]
1. The Cyan Lane is responsible for supplying the entire furnishing for the restaurant.
2. All the designs will be first approved by Ms. Shazia before shipping it to Goa.
3. The time is of the essence and the deliveries shall be made within a week of procuring the designs
and products except the ones which are sources from international markets.
4. The payment will be made in three tranches. INR 15,00,000 per tranche and each tranche to be
paid in three equal instalments of INR 5,00,000. Estimated completion of project is 3 months so the
payments scheduled should be adjusted to these 3 months.
5. Products will be shipped only after Ms. Shazia approves them in writing.
6. If any of the party wishes to suggest any changes or alteration in the original products then that
shall be communicated and recorded in writing before the shipping of the products.
7. Any material change in the products will be subject to the approval of Ms. Shazia and can be
rejected if not found suitable.
8. The disputes are to be resolved through mutual negotiations and arbitration.