Target Vendor Agreement

10 Oct

Congratulations, you have been accepted by one of the largest online retailers in the United States! Target has business in all 50 countries, with 75% of the population living 10 miles from a destination. The third-party target+ marketplace is fully integrated into its online store and offers suppliers the validity and reliability that customers expect from the Target brand. In addition, it can be an important stepping stone to putting your products on physical shelves. To be accepted as a target supplier, you had to face fierce competition and prove that your products can live up to the brand. Now you have one last requirement: provide a certificate of insurance that meets the insurance requirements of your Target Vendor contract. Buyers are usually held to a very strict standard of the sales volume they must achieve and, as a result, they are risk averse. Your role as a supplier or seller is to convince them that the buyers who go to the stores not only know what you are selling, but also actively look for the product in the store. The seller must take out this insurance before shipping goods. The seller`s insurance obligations also apply after the conclusion or termination of an order under the contract. The purchase of insurance and the provision of certificates do not limit the seller`s obligations under this contract. The Seller also undertakes to insure, at its own expense and expense, all goods which, in accordance with the contractual conditions or any other agreement between the Buyer and the Seller, are to be stored in establishments other than the Buyer`s establishments, at their sole expense and costs of their total and actual retail value. Each Target business unit has specific needs and requirements.

The De Supplier Diversity team aims to identify, network and help qualified, certified and diverse suppliers grow based on Target`s retail and non-retail strategies. These multiple businesses must be at least 51% owned, controlled and operated by women, ethnic minorities, LGBT people, veterans or people with disabilities. Through this program, Target is able to bring together a wide range of talent, perspectives and creativity. These collective attributes create improved jobs, vibrant communities and an inclusive culture. The provider must, where applicable, meet the following network security requirements and the requirements set out in the insurance section of POL (or part of its successor). Target needs this coverage if it`s true, which means you`ll likely need it if you`re interacting with customer data in some way. Target allows you to acquire them on a claims basis as long as your policy remains in effect for at least 3 years. Suppose, for example, that in 2020, a hacker steals customer data from your computer, but he won`t use it until next year. You have resigned from your policy.

A customer acknowledges that their bank account has been accessed and you file a fee with your insurance company to pay for the damage in 2021. . .