Sale of Goods Agreement

The Sale of Goods Agreement (Agreement) is a legal document used to specify the terms and conditions entered into between the Seller and the Buyer of the Goods. This Agreement can be used by either the Seller or Buyer to Buy or Sell any type of movable goods like furniture, electronics, building materials, etc.

For the purpose of selling any type of vehicle, we have a specific agreement named the Vehicle Sale Agreement on our website. Under this Agreement, specific conditions and details related to the vehicle can be included.

This Agreement cannot be used for the sale of immovable properties like buildings, lands, etc.

This Agreement can be used by either individuals or businesses like a Company, LLP, Partnership Firm, etc.

The Sale of Goods Agreement is different from that of the Supply Contract. Under the Supply Contract, both the supplier and buyer agree to purchase certain goods for a specific period for a fixed price and this may be an exclusive business relationship between the supplier and seller. For the supply arrangement, we have a separate agreement named Supply Contract on our website.

The Sale of Goods Agreement helps to avoid any disputes over the sale of the Goods in the future. The important details about the goods, timeline, and price can be included in this Agreement.

How to use this document

This Agreement can be used by the Seller intending to sell the Goods or the Buyer intending to purchase the Goods.

The details of both the Buyer and Seller will be included under this Agreement. All key details about the Goods and delivery can be specified to avoid any disputes in the future.

This Agreement includes the following clauses:

• Consideration/Price: which includes the total price, advance amount, etc.
• Inspection of the Goods: how and when the buyer can inspect the goods can be specified.
• Risk of loss of goods: the details of how and when the risk of loss of goods will be transferred to the Buyer.
• Delivery: including the details about delivery such as the date of delivery, time of delivery, place of delivery and cost of delivery.
• Representations and warranties of the Seller: including the warranties about the ownership of goods, legality of this agreement, usability of the goods, etc.
• Obligations of the Buyer: including making the payment on time, legal ability, financial ability, the accuracy of information provided and so on. If required, specific obligations can be added under this clause.
• Liability: under this, the maximum liability of the Seller under this Agreement will be included.

The Parties can include the Arbitration Clause in this agreement. Under Arbitration, any dispute that arises between the parties will be referred to a third neutral person ("Arbitrator") appointed mutually by both parties. The Arbitrator will hear both the parties and decide the case on merits. The decision of the Arbitrator will be final and binding on both parties.

To be a valid contract both the Seller and Buyer along with the Witnesses have to duly sign this agreement and execute on a valid stamp paper as applicable in the concerned state of execution of this Agreement.

Applicable law

The Sale of Goods Agreement is covered under the Sale of Goods Act, 1930 and the Indian Contract Act, 1872.

If the Goods are sold to an individual person for a non-commercial purpose (other than for self-employment) the Consumer Protection Act, 2019 will also be applicable.

How to modify the template:

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