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Sale of Goods Agreement – Template
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Sale of Goods Agreement – Template
A Sale of Goods Agreement can be used to contract with your customers if you sell and, where applicable, deliver goods. It sets out each party’s rights and obligations, including payment terms and returns policies.
SALE OF GOODS AGREEMENT
Summary A Sale of Goods Agreement can be used to contract with your customers if you sell and, where applicable, deliver goods. It sets out each party’s rights and obligations, including payment terms and returns policies.
What type of business should use a Sale of Goods Agreement? A Sale of Goods Agreement sets out the terms of your relationship with your customer, including the terms of payment. If your business sells products (whether it’s stationery, furniture, cleaning products, vacuum cleaners, jewellery, pots, or even encyclopaedias!) and including if you provide a delivery service, then a written contract can be used. This agreement of sale does not include provision for installation.
You may also want to view our Sale of Goods Agreement for online sales.
What does the agreement say? The sample contract terms consist of: Introduction; Price and Payment; Delivery; Warranty and Returns; Ownership; Default; General.
What does the Sale of Goods Contract look like? The sample agreement can be printed onto two pages.
What do you need to do to use this template?
- Read the sample terms and conditions of sale to ensure that they suit your requirements. Make changes as required.
- Complete the document then get your customer to sign.
Also viewed: Manufacture of Custom-made Products Agreement
Also known as: Sale of Goods Terms and Conditions; Sale of Products Contract; Terms of Sale; Conditions of Sale
An In-depth Overview of the Sale of Goods Agreement South Africa:
A sale of goods agreement, also known as a sales agreement, is a legally binding contract that governs the transaction involving the sale and purchase of goods between two or more parties on the terms to which the parties agree .
Particular Purpose and Parties:
The primary purpose of a legally binding sale of goods agreement or sales agreement is to facilitate the smooth transaction of goods between a buyer and a seller. It establishes the legal framework for the exchange of such property and outlines the rights and responsibilities of each party involved in the ordinary course of trade.
The legally binding sales agreement sets out elements, general principles and provisions such as the purchase price and how such purchase price is to be paid, the details of the party looking to sell goods, reasonable inspection of movable property, any express warranty by the business as well as any express warranty made by the clients, seller’s rights, any unreasonable delay, defective goods the date on which the sales agreement commences (Effective date). The agreement further covers the following terms; unascertained goods, time period for final delivery of service, ascertained goods, delivery location for the sold goods and whether delivery will be at own expense, any late payments, the working hours of the supplier within each business day as well as a warranty period as well as general terms and any other provision to which the parties agree.
The buyer’s rights and duties, as one party to the agreement, include the following: Duty to pay for goods when properly tendered by the seller, Duty to follow the terms of the contract, Right to on-time tender of the goods, Right to applicable warranties that weren’t disclaimed, Right to the goods identified in the sales agreement.
Legally Binding Contract: A sale of goods agreement is a legally enforceable and legally binding contract (master agreement), ensuring that both the buyer and seller are obligated to fulfill their respective duties and obligations as outlined in the agreement. It provides a basis for legal recourse in case of any breaches or disputes.
Entire Agreement Clause: The entire agreement clause is a standard provision that states that the written contract represents the complete understanding and agreement between the parties. It ensures that any prior negotiations, representations, or understandings are superseded by the terms stated in the agreement.
Purchase Price and Payment Terms: The agreement specifies the purchase price of the goods, which outlines the amount that the buyer is obligated to pay to the seller. Additionally, it includes the payment terms, such as the schedule, method, and conditions of payment.
Delivery Location and Ownership: The agreement identifies the delivery location, which determines where the goods will be delivered or made available for pickup. It also includes provisions regarding the transfer of ownership from the seller to the buyer upon completion of the transaction.
Future Goods : These goods are bought yet have not been created when they were sold. Future goods are purchased in good faith and the relevant goods is generally made as purchase orders are received. Future goods may also be the subject of a valid sale of goods but Future goods don’t exist at the time the contract is signed.
Contingent Goods : Contingent goods are future goods that are dependent on a specific condition to complete the transaction.
Express Warranties and Warranty Period: Express warranties are explicit guarantees made by the seller regarding the quality, condition, or performance of the goods. The agreement may include provisions specifying the duration of the warranty period during which the seller is responsible for addressing any defects or issues with the goods.
Inspection and Defective Goods: The agreement may provide the buyer with a reasonable amount of time to inspect the goods upon receipt. If the goods are found to be defective or not as described, the agreement outlines the buyer’s rights and the seller’s obligations for repair, replacement, or refund.
Applicable Laws and Governing Jurisdiction: A sale of goods agreement or purchase agreement is subject to the applicable laws, such as common law principles, and regulations, which may vary depending on the jurisdiction. The sales agreement includes provisions identifying the governing law and jurisdiction for any disputes or legal matters arising from the agreement.
The sales agreement or purchase agreement is subject to the Consumer Protection Act which sets out the uniform commercial code for businesses as well as other Common Law principles.
Termination and Remedies: The sales agreements may outline conditions under which either party has the right to terminate the contract. It also specifies the available legal remedies, such as damages, specific performance, or other relief, in case of breach or non-compliance.
The aforementioned also addresses when the context requires written notice as well as the time frame within such a written notice is to be given and hoe the written notice is to be delivered to the other party.
A sale of goods agreement or sales agreements is a crucial legal document that protects the rights and interests of both buyers and sellers in a transaction involving the sale of goods (purchase goods). By establishing clear terms and conditions, it ensures a smooth and mutually beneficial exchange. Understanding the key elements and highlights of such an agreement is essential for conducting business transactions in a secure and legally compliant manner.
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