Installment Sale Contract

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

INSTALLMENT SALE CONTRACT

This Installment Sale Contract ('Agreement') is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{seller_company_name}}, a company duly incorporated and registered under the laws of {{seller_country}}, with its principal place of business at {{seller_address}} (hereinafter referred to as 'the Seller');

AND

{{buyer_name}}, an individual residing at {{buyer_address}} / a company duly incorporated and registered under the laws of {{buyer_country}}, with its principal place of business at {{buyer_address}} (hereinafter referred to as 'the Buyer').

The Seller and the Buyer are hereinafter collectively referred to as 'the Parties' and individually as 'a Party'.

1. AGREEMENT TO SELL AND PURCHASE

The Seller hereby agrees to sell, and the Buyer hereby agrees to purchase the following goods/property ('the Goods'):

Description of Goods: {{goods_description}}

Serial Number/Identification: {{serial_number}}

Condition: {{condition_of_goods}}

2. PURCHASE PRICE

The total purchase price for the Goods is {{currency}} {{total_purchase_price}} ({{total_purchase_price_words}}).

This price includes/excludes (strike out as applicable) any applicable taxes, duties, and delivery charges.

Any upfront deposit paid by the Buyer is {{currency}} {{deposit_amount}} ({{deposit_amount_words}}), leaving a balance of {{currency}} {{balance_due_amount}} ({{balance_due_amount_words}}) to be paid in installments.

3. INSTALLMENT PAYMENTS

The Buyer agrees to pay the balance of the purchase price in {{number_of_installments}} ({{number_of_installments_words}}) equal installments of {{currency}} {{installment_amount}} ({{installment_amount_words}}) each.

Payments shall be due on the {{day_of_month}} day of each month, commencing on {{first_payment_date}} and continuing until the full purchase price is paid, with the final payment due on {{final_payment_date}}.

All payments shall be made by {{payment_method}} to {{seller_bank_details}} or such other account as the Seller may notify the Buyer in writing.

Any payment not received by the due date shall be subject to a late payment fee of {{currency}} {{late_fee_amount}}.

4. TITLE AND RISK OF LOSS

Title to the Goods shall remain with the Seller until the full purchase price, including any accrued interest and late fees, has been paid by the Buyer. Upon full payment, title shall transfer to the Buyer.

Risk of loss or damage to the Goods shall pass to the Buyer upon {{delivery_date}} / upon execution of this Agreement (strike out as applicable). The Buyer shall be responsible for insuring the Goods from this date.

5. DEFAULT

The occurrence of any of the following shall constitute an event of default under this Agreement:

(a) Failure by the Buyer to pay any installment on its due date.

(b) Breach by the Buyer of any other term or condition of this Agreement.

(c) Insolvency or bankruptcy of the Buyer.

Upon an event of default, the Seller may, at its option, declare the entire unpaid balance of the purchase price immediately due and payable and/or repossess the Goods without further notice or judicial process, and/or pursue any other remedies available at law or in equity. The Seller shall be entitled to retain all payments made by the Buyer prior to default as liquidated damages.

6. WARRANTIES

The Seller warrants that it has good and marketable title to the Goods and has the right to sell the Goods.

The Goods are sold 'as is', and the Seller makes no other warranties, express or implied, including but not limited to any implied warranty of merchantability or fitness for a particular purpose, except as may be required by law in {{seller_country}}.

Any manufacturer's warranties applicable to the Goods shall be passed on to the Buyer.

7. GOVERNING LAW AND DISPUTE RESOLUTION

This Agreement shall be governed by and construed in accordance with the laws of {{governing_country}}.

Any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity, or termination, shall be referred to and finally resolved by arbitration in {{arbitration_city}}, {{arbitration_country}}, in accordance with the Arbitration Act of {{governing_country}} then in force.

8. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements, understandings, and negotiations, whether written or oral, relating to the subject matter hereof. No amendment or modification of this Agreement shall be effective unless in writing and signed by both Parties.

9. NOTICES

Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given if delivered personally, sent by reputable courier service, or sent by email to the addresses specified at the beginning of this Agreement, or to such other address as a Party may designate by notice to the other Party.

SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Installment Sale Contract as of the date first written above.

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SELLER:

{{seller_company_name}}

Represented by: {{seller_representative_name}}

Title: {{seller_representative_title}}

Date: {{seller_signature_date}}

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BUYER:

{{buyer_name}}

Represented by: {{buyer_representative_name}} (if applicable)

Title: {{buyer_representative_title}} (if applicable)

Date: {{buyer_signature_date}}

WITNESSES (Optional):

1. Name: {{witness_1_name}}

Signature: ___________________________

Date: {{witness_1_signature_date}}

2. Name: {{witness_2_name}}

Signature: ___________________________

Date: {{witness_2_signature_date}}