Installment Sale Contract

Company Letterhead

{{company_name}}

{{company_address}}

{{phone}}

{{email}}

{{website}}

INSTALLMENT SALE CONTRACT

This Installment Sale Contract (hereinafter referred to as the “Contract”) is made and entered into on this {{day}} day of {{month}}, {{year}},

BETWEEN:

{{seller_company_name}}, a company duly incorporated under the laws of {{country}}, with its principal place of business at {{seller_address}} (hereinafter referred to as the “Seller”);

AND

{{buyer_name}}, of {{buyer_address}}, (hereinafter referred to as the “Buyer”).

1. GOODS SOLD

The Seller hereby agrees to sell and the Buyer hereby agrees to purchase the following goods (hereinafter referred to as the “Goods”):

Description of Goods: {{goods_description}}

Serial Number(s): {{serial_numbers}}

Quantity: {{quantity}}

2. PURCHASE PRICE

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

This price includes/excludes (cross out one) any applicable taxes, duties, and delivery charges. (If excluded, specify details: {{tax_details}})

3. PAYMENT TERMS

The Buyer shall pay the purchase price in installments as follows:

3.1. Down Payment: A down payment of {{down_payment_amount}} ({{currency}}) shall be made on or before {{down_payment_date}}.

3.2. Installments: The remaining balance of {{remaining_balance_amount}} ({{currency}}) shall be paid in {{number_of_installments}} equal monthly/weekly/quarterly (cross out as applicable) installments of {{installment_amount}} ({{currency}}) each, commencing on {{first_installment_date}} and continuing on the {{payment_day}} day of each subsequent month/week/quarter (cross out as applicable) until fully paid.

3.3. Due Date: All payments shall be due on the {{due_day}} day of each period.

3.4. Late Payment: Any installment payment not received by the Seller within {{grace_period}} days of its due date shall be subject to a late payment fee of {{late_fee_amount}} ({{currency}}) or {{late_fee_percentage}}% per annum on the overdue amount, whichever is higher.

4. DELIVERY AND ACCEPTANCE

4.1. Delivery: The Goods shall be delivered by the Seller to {{delivery_address}} on or before {{delivery_date}}.

4.2. Inspection: The Buyer shall have the right to inspect the Goods upon delivery. Any defects or discrepancies must be reported to the Seller in writing within {{inspection_period}} days of delivery.

4.3. Acceptance: Failure to report any defects or discrepancies within the stipulated inspection period shall constitute acceptance of the Goods by the Buyer.

5. RETENTION OF TITLE

Notwithstanding delivery, ownership and title to the Goods shall remain with the Seller until such time as the full purchase price, including any interest or late payment fees, has been received by the Seller in cleared funds.

Until such time, the Buyer shall hold the Goods as fiduciary agent and bailee for the Seller and shall keep the Goods separate from those of the Buyer and third parties and properly stored, protected, insured, and identified as the Seller's property.

6. RISK OF LOSS

The risk of loss or damage to the Goods shall pass to the Buyer upon delivery, irrespective of whether title has passed.

7. WARRANTIES

The Seller warrants that the Goods are free from defects in material and workmanship for a period of {{warranty_period}} from the date of delivery. This warranty does not cover normal wear and tear or damage resulting from misuse or neglect by the Buyer. The Seller’s liability under this warranty is limited to the repair or replacement of the defective Goods at the Seller’s discretion.

8. DEFAULT BY BUYER

If the Buyer fails to make any installment payment on its due date, or breaches any other term of this Contract, the Seller shall have the right to declare the entire outstanding balance immediately due and payable. In addition, the Seller may, without prejudice to any other rights or remedies it may have, repossess the Goods. The Buyer agrees to permit the Seller or its agents to enter any premises where the Goods may be located for the purpose of repossession.

9. GOVERNING LAW AND JURISDICTION

This Contract shall be governed by and construed in accordance with the laws of {{applicable_law_country}}. Any disputes arising out of or in connection with this Contract shall be subject to the exclusive jurisdiction of the courts of {{jurisdiction_country}}.

10. ENTIRE AGREEMENT

This Contract constitutes the entire agreement between the Seller and the Buyer with respect to the sale of the Goods and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

Signature Block

IN WITNESS WHEREOF, the parties have executed this Contract on the date first above written.

_____________________________

SELLER: {{seller_company_name}}

By: _________________________

Name: {{seller_signatory_name}}

Title: {{seller_signatory_title}}

Date: {{seller_signature_date}}

_____________________________

BUYER: {{buyer_name}}

By: _________________________

Name: {{buyer_signatory_name}}

Title: {{buyer_signatory_title}}

Date: {{buyer_signature_date}}

WITNESSES:

1. Name: {{witness_1_name}}

Signature: _________________

Date: {{witness_1_date}}

2. Name: {{witness_2_name}}

Signature: _________________

Date: {{witness_2_date}}