Agreement For Sale Of Goods On Credit

1. The seller agrees to sell the buyer and the buyer agrees to purchase Seller___________ products (hereafter referred to as “goods in question”) at a price of Rs. CONSIDERANT that the buyer is a distributor and has approached the seller and asked him to sell the goods at the price of a unit/kilo. A contract to purchase credit is a contract for the sale of property under which the buyer pays in increments and becomes the owner of the goods, either at the conclusion of the contract or at the conclusion of a contract, according to the terms of the individual contract. 6. After shipping these goods, the seller must send to his banker in the Indian port all the necessary documents, including a transport contract, an insurance policy, an invoice, etc. 5. It is the buyer`s responsibility to have, through his banker, a letter of credit covering the price of goods, freight insurance and other expenses in favour of the seller`s banker. 3. The seller must enter into an agreement with the master of the ship for the transport and delivery of these goods in the Indian port. 8. It is the buyer`s responsibility to open a credit with his banker in favour of the seller`s banker. The buyer`s bankers assign the prize, on behalf of the seller, to the seller`s banker with the receipt of the title.

7. The document referred to above is served on the banker against the cashing of the akkreditatikus which, in turn, must provide the same to the buyer in order for him to deliver the goods in the Indian port. The delivery of the documents constitutes the delivery of the goods and, from now on, the goods are made at the buyer`s risk. 11. The buyer has the right to check the goods to their satisfaction at their destination. If the goods do not comply with the model or specifications, the buyer has the right to reject the goods at the seller`s risk and expense. 2. The seller sends these goods through the designated vessel, whose shipping vessel and the date of its arrival at the shipping port in India are sent to the buyer.

This purpose of this type of transaction is sometimes called a “credit offer” and, after the provision of goods or services, the party who received the receipt owes a commercial debt to the other party. This debt is repayable in accordance with the terms of payment of the contract. Another way to protect yourself is to include a property reserve clause in the credit purchase agreement. This clause, also known as the “Romalpa” clause, allows the buyer to own the goods, but only acquires the seller`s property when the final purchase price is paid. 4. It is the buyer`s responsibility to have insured his values with the goods insured at the present physical condition and to establish an invoice. 9. When certain formalities must be carried out before the aforementioned goods are imported to their destination, the buyer will do so at his own expense.