Medical Device Supply Agreement

Finally, conditions should be laid down providing for flat-rate damages in the event of a breach of the agreement concluded by a party. The agreement should also specify what would happen in the event of a dispute between the contracted companies. In the global market, it is particularly important for the parties to conclude agreements in advance on the laws applicable in the event of a dispute and on whether arbitration proceedings can be sought before a dispute. Medical Devices Guidance Document Medical Device Control Division Ministry of Health, Malaysia gd-xx Guidelines for the Classification of Medical Devices All these and other possible situations should be clearly addressed in the agreement in order to avoid subsequent disputes. An agreement may end at some point, but the parties should consider what to do when faced with changing market conditions or the viability of the product. For example, if two companies have entered into an agreement granting Company B exclusive worldwide sales and marketing rights to one of Company A`s products, they could build their agreement in such a way that they could terminate the partnership if changing market conditions significantly change the basis of their agreement. . . .