A professional sales agreement will help keep things clear and understood by both parties by detailing the terms of the sale. You need a sales agreement if your business sells goods or services to other parties or businesses. The sale of goods is also governed by Article 2 of the Uniform Commercial Code and has been adopted by nearly every U.S. The Statute of Frauds requires that contracts for the sale of goods priced at $500 or more must be in writing in order to be enforceable. Entire agreement: Both parties’ intentions that the agreement is complete and final.Severability: The remainder of the agreement will still be valid in the event that part of the agreement is unenforceable.Notices: How the parties will communicate and send notices to each other.Assignment: Whether a party needs written permission to transfer its rights under the agreement to another party.Amendments: How to formally change the terms and provisions of the agreement.Governing law: Which state’s laws will control the enforcement and interpretation of the agreement.Dispute resolution: Whether disputes regarding the agreement will be resolved through mediation, arbitration, or through the courts.These additional elements can also be included: Risk of loss: Which party will be responsible for the costs if there is damage between the time the goods are shipped and the time the goods are delivered.

Inspection: Whether the buyer has the right to inspect the goods within a specified period of time.Warranties: Whether the seller is selling the goods “as is” or will provide a warranty on the condition of the goods.Delivery: When the goods will be delivered from the seller to buyer, and where they will be delivered to.Payment: How the seller will invoice the buyer and how and when the buyer will pay for the goods.Price: The total price to be paid for the goods, including any deposits or adjustments.Goods: A detailed description of the goods being purchased, including the amount being purchased.Buyer: The full name and contact information of the party purchasing the goods.Seller: The full name and contact information of the party selling the goods.In general, goods are something that you can use or consume that are moveable at the time of the sale, including watches, clothing, books, toys, furniture, and cars.Ī simple document will identify the following basic elements:

(855) 335-9779 Monday-Friday, 9AM - 7PM EDTĪ Sales Agreement, also known as a Sale of Goods Agreement, is a written document between a buyer who wants to purchase goods and a seller who owns those goods and wants to sell them.

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