Sales

Whether buying a high-value item or selling one, safeguarding your interests is priority number one. That’s where a sales contract comes in. 

But here's the catch: not all contracts are created equal. 

Understanding the various types of sales contracts is key to crafting the perfect agreement. Equally important is knowing what elements to include to ensure its legality and enforceability. So, whether you're sealing the deal on a big-ticket purchase or closing a lucrative sale, arming yourself with the proper knowledge is your best defense.

At Contractbook, we understand the ins and outs of the sales sector. That’s why we’ve built an arsenal of sales contract templates and agreements. Developed by experts and continuously refined to align with evolving laws and market trends, our templates help your businesses navigate the complexities of commercial documentation with ease and confidence.

What goes in a sales agreement or contract?

While each contract and agreement is unique, here are a few items that you can never draft a contract without: 

• Terms: This includes what the goods are and in what quantities.
• Purchase price: This means how much the buyer will pay the seller and in what currency.
• Delivery: This sets the date for when goods must be delivered and in what state.
• Risk of loss: This references who bears the cost and risk if the goods are faulty.
• Acceptance: This includes how long the buyer has to accept the goods upon receipt and give notification of any faults.
• Warranty and warranty of title: The seller claims that all goods are free from defects, but what should be done if they are found faulty? The seller also confirms that they have the right and title to sell the goods. 
• Governing law and venue: This mentions what country’s law governs the agreement.
• Force Majeure: This explains what occurs in the case of a Force Majeure event.
• Documents: These are the relevant documents needed to support the sale.
• Non-performance of the buyer: This refers to the buyer’s obligation to pay the price at the agreed time. What happens if the buyer does not pay at the correct time? Include that here. 
• Non-performance of the seller: What happens if the seller does not deliver the goods at the agreed time? 
• Lack of conformity: Once the buyer has accepted and examined the goods, they have several days to alert the seller to any issues. 
• Avoidance of contract: How will any breach of contract be dealt with or resolved? 
• Final, standard agreement clauses: These include the entire agreement, notices, dispute resolution procedure, applicable law, and guiding principles.

When should you use a sales agreement contract template?

While real estate transactions are a prominent example, sales agreements are indispensable in numerous other scenarios where business relationships hinge on the exchange of goods.

Having a sales contract in place eliminates misunderstanding or confusion. What is left is a highly effective transactional relationship. That’s down to defining the terms and conditions surrounding buying and selling goods. Both sides know what they must do for the transaction to proceed. As a result, there is far less likely to be any legal dispute in the future.

Where and how should I use a sales agreement template?

While drawing up a contract from scratch is possible, using a template speeds up the entire process. It also ensures that all crucial elements have been included. When you use a contract template, you can trust that the resulting contract is a usable legal document. 

Templates are a fantastic tool if you require many different sales agreements, as they remove the administrative burden. Thanks to being in a dynamic data format, our contract templates help automate the entire procedure so that contracts include all relevant information without the hassle of manually inputting every single word every single time.