Sales Contract -- Installment Payments
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- Product Details
- If you want to create a contract in which the buyer will pay in one lump sum, use "Sales Contract (Lump-Sum Payment)."
- Note that a sales contract doesn't complete a sale -- for that, you'll need a "Bill of Sale for Goods."
- Sellers often want to create a "Security Agreement for Sale of Goods" to provide collateral for this type of sales contract.
If your business buys or sells goods for later delivery, you'll want to record the deal with a sales contract to minimize confusion and misunderstandings.
For instance, if you order five desks for your offices, use a sales contract that sets forth the terms: the purchase price, delivery date, method of payment and so on.
This particular contract assumes the buyer will pay over a period of months or years. Sellers can detail a precise schedule of payments, as well.