1. You will each play the role of an executive for both of these companies:
   1. Cycle Monster Ltd.- A business based in Spain that designs and manufactures cycling clothing and equipment. Cycle Monster is successful in the EU and is hoping to develop a presence in the fast-growing Canadian market.
   2. Sport Society Canada Corp.- A Canadian retail business with stores in Ontario and Quebec, as well as an online store. Sport Society wishes to purchase Cycle Monster cycling shoes for men and women to sell in their stores. They plan to sell the shoes for Can$ 200.00 per pair. Sport Society needs to have the shoes in stock at the start of the Spring cycling season, which begins on May 1.

1. You will negotiate a term sheet for a contract for the sale of cycling shoes by Cycle Monster to Sport Society.
   • Negotiation contract by considering the elements and terms that you would like to have in your term sheet;

Term Sheet

Name of CONTRACT TERM or CLAUSE	DETAILS of how the term will operate in the contract (use simple English as you would want it reflected in the contract)	REASONS why the term is important to include
Example: Delivery Date:	Cycle Monster will deliver the products by no later than April 1, 2023.	A confirmed delivery date is essential. Sport Society needs to have the shoes in their stores for the start of the busy spring season, and must allow enough time to transport the shoes to each store.
1 Description of Goods (Quality and quantity)
2. Price
3. Payment Method and Date
4. Transfer of ownership of goods and liability
5. Choice of law in the agreement and dispute settlement
6. Incoterms
7. Termination of Contract
8. Packing Specification
9. Implied Warranties
10. Taxes, duties, inspections
11. Documents and invoices
12.Acceptance and rejection of goods