Sale of Goods Agreement
This Sale of Goods Agreement ("Agreement") is made and entered into on [Date], by and between [Your Name], a company organized and existing under the laws of [State/Country], with its principal place of business located at [Your Company Address], hereinafter referred to as the "Seller", and [Client's Name], a company organized and existing under the laws of [State/Country], with its principal place of business located at [Client's Address], hereinafter referred to as the "Buyer".
1. Description of Goods
1.1 The party known as the Seller has expressed agreement and has therefore consented to execute the sale, and conversely, the party recognized as the Buyer has similarly expressed agreement and has hence consented to execute the purchase, of the goods which will hereinafter be referred to as the "Goods".
Description of Goods: 100 units of XYZ model smartphones, with specifications including a 6.5-inch display, 128GB storage, and a 12MP camera.
Quantity: 100 units
Price: $500 per unit, totaling $50,000.
2. Purchase Price and Payment Terms
2.1 The agreed-upon price by both the Buyer and the Seller for the Goods that the Buyer has decided to purchase from the Seller, is a total sum of Fifty Thousand Dollars. This total amount can also be expressed numerically as $50,000. The following instructions provide a detailed outline of the procedure that the Buyer is expected to adhere to in ensuring the successful payment of the aforementioned amount to the Seller.
Down Payment: Ten Thousand Dollars ($10,000) due upon signing this Agreement
Remaining Balance: Forty Thousand Dollars ($40,000) payable upon delivery of the Goods
Payment Method: Wire transfer
3. Delivery and Acceptance
3.1 It is incumbent upon the Seller to take the responsibility of delivering the Goods directly to the Buyer. The exact geographical location at which the delivery should be made is as follows: 123 Main Street, situated in Anytown, within the boundaries of the USA. This delivery process should take place within 14 days, counting from the day on which the Seller officially receives the down payment from the Buyer.
3.2 Once the Goods have been delivered, it is the responsibility of the Buyer to conduct a thorough inspection of these Goods. Should there be any defects or discrepancies discovered during the inspection, the Seller must be informed by the Buyer within 3 days following the delivery. Failing to provide such a notice to the Seller within the specified timeframe will be interpreted as the Buyer's acceptance of the Goods, acknowledging that they are in good condition.
4. Title and Risk of Loss
4.1 Once the Buyer has fulfilled his or her obligation of paying the full amount of the agreed purchase price for the Goods, the ownership or title of these Goods will then be transferred from the Seller to the Buyer. The actual transfer of ownership signifies that the Buyer has now obtained all rights to the Goods previously held by the Seller.
4.2 The responsibility should there be any potential loss or damage to the goods, will no longer fall under the seller, rather, it will be entirely transferred to the individual or party that bought the goods. This transfer of responsibility will take effect immediately after the goods have been physically delivered and officially received or accepted by the party who purchased them.
5. Warranties
5.1 The Seller gives a guarantee that the Goods, the description of which has been provided here in this document, will be aligned with the given description. Furthermore, the Seller further assures that there will be no defects in both the material out of which the Goods are composed, and the workmanship involved in their creation, for a total period of 12 months, or one year, starting right from the date that these Goods were delivered.
6. Limitation of Liability
6.1 By this Agreement, it should be expressly understood that neither party involved in the participation of this agreement should hold the other party answerable or responsible for any damages that they may sustain. The damages referred to in this context include indirect damages, incidental damages, consequential damages, and punitive damages, whether such damages arise from the execution of this Agreement or are somehow connected to it. Under no circumstances should either of the two parties be held accountable for such damages.
7. Governing Law
7.1 This Agreement shall be governed by and construed per the laws of [State/Country].
IN WITNESS WHEREOF, the parties hereto have executed this Sale of Goods Agreement as of the date first above written.
[Your Name] (Seller)
[Date Signed]
[Client's Name] (Buyer)
[Date Signed]
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