When entering into a business transaction, it is important to have a sales agreement in place to protect all parties involved. A sales agreement is a legally binding contract that outlines the terms and conditions of a sale, including the price, payment terms, and delivery terms.
To help you create your own sales agreement, we’ve put together a sample contract that you can use as a template.
[Insert Company Name or Logo] Sales Agreement
This Sales Agreement (the “Agreement”) is made and entered into effective as of [Insert Date] (the “Effective Date”) by and between [Insert Seller Name] (the “Seller”), having its principal place of business at [Insert Seller Address], and [Insert Buyer Name] (the “Buyer”), having its principal place of business at [Insert Buyer Address]. Seller and Buyer are collectively referred to as the “Parties”.
1. Sale of Goods
Seller agrees to sell and deliver to Buyer the following goods (the “Goods”): [Insert description of Goods and quantity, including any specifications or warranties].
2. Purchase Price
The total purchase price for the Goods shall be [Insert Purchase Price]. Buyer agrees to pay the purchase price in full to Seller within [Insert Payment Terms] days after delivery of the Goods. Payment shall be made in [Insert Payment Method].
Seller shall deliver the Goods to Buyer’s location at [Insert Delivery Address] on or before [Insert Delivery Date]. Seller shall be responsible for all costs and expenses associated with delivering the Goods.
4. Risk of Loss
Risk of loss or damage to the Goods shall pass from Seller to Buyer upon delivery of the Goods to Buyer.
Buyer shall have [Insert Inspection Period] days from the date of delivery of the Goods to inspect and test the Goods. If Buyer discovers any defects or non-conformities during the Inspection Period, Buyer shall promptly notify Seller in writing.
Seller represents and warrants that the Goods are free from defects in materials and workmanship and conform to any applicable specifications. This warranty shall be valid for [Insert Warranty Period] from the date of delivery of the Goods.
7. Limitation of Liability
Seller shall not be liable for any indirect, special, incidental, or consequential damages arising out of or in connection with the sale or use of the Goods.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state of [Insert Governing Law]. Any dispute arising out of or in connection with this Agreement shall be resolved in accordance with the dispute resolution provisions set forth below.
9. Dispute Resolution
Any dispute arising out of or in connection with this Agreement shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association. The arbitration shall be conducted in [Insert Arbitration Location].
10. Entire Agreement
This Agreement constitutes the entire agreement between the Parties with respect to the sale of the Goods and supersedes all prior negotiations, representations, and agreements between the Parties, whether written or oral.
This Agreement may be amended or modified only in writing signed by both Parties.
In conclusion, having a sales agreement in place is essential when entering into a business transaction. Use this sample contract as a starting point to create your own sales agreement that protects all parties involved and outlines the terms and conditions of the sale, ensuring a smooth and successful business transaction.