The sales contract is a legal document that is signed between the vendor and the purchaser for the delivery of the goods or services. It includes all the respective details of the conditions at which both the parties have agreed upon to opt for a mutual business relationship. As it involves the exchange of goods and services so, obviously all the details about the price content, terms and conditions for the goods and services, the standard of the services will be an important part of the content of this contract.
Initially this contract was under the matter of the common law of jurisdictions but nowadays, these matters are governed by statutory law. The sale contract in USA is governed by Article 2 of uniform Commercial code.
Here is preview of this Sales Contract Template created using Microsoft Word,
Contents of the sales Contract:
- The details of the parties between which the contract is to be made, covering all the relevant information of the seller (vendor) and the buyer (purchaser) with complete addresses.
- The details should also record the principle place of the business and the place of contract with the complete reference of the corporation/partnership/sole business status of the parties.
- The contract should include the complete detail of the products that are to be exchanged between the parties or in case if the services or software are to be delivered then the complete specifications and product knowledge should be indicated.
- The price of the items and quantity should also be clearly indicated as;
- The time for the beginning of the contract with date and year should be clearly indicated in the very start of the contract.
- For the delivery, the conditions are clearly notified if there are any, for the delivery demands, purchase order or booking order or if time specifications for advance order are there which the buyer has to follow.
- The risk of loss is also mentioned in the contract clearly that any loss and damages in the goods will be the responsibility of the vendor till the goods have not reached safely in the hands of the buyer.
- Similarly the conditions for the buyer to accept the goods after inspection are also mentioned in the contract. On the other hand, the conditions for the payment invoice at the time of the shipment arrival and acceptance is also mentioned along with the conditions of late payments and penalties imposed in such a case on the buyer.
- The advance deposits need to be mentioned if there is some amount decided by both the parties as an advance payment for that deal to be signed.
- Warranty claims and the conditions obliged by such claims are clearly mentioned in the contract along with the services concerned.
- The taxes which are to be paid on goods are also mentioned along with the clear indication that all sort of the taxes are to be paid by the buyer.
- At the end the contract should include the governing law or the court of jurisdiction which is going to resolve the issue in case of any dispute or need of legal perspective in future.
Here is download link for this Sales Contract Template,