
Sales & Purchase Agreement
Jim Clark Co
Close Deals with Confidence: Draft sales purchase agreements that clarify terms and ensure a seamless transaction for buyers and sellers.
Jim Clark Co
Jim Clark Co
This Purchase Agreement ("Agreement") is made and entered into on , by and between:
1. Description of Item Being Sold
The Seller agrees to sell and the Buyer agrees to purchase the following item(s):
Item Description:
2. Transfer of Ownership and Possession
Ownership and possession of the item(s) shall be transferred from Seller to Buyer on:
3. Purchase Price: The total purchase price for the item(s) is $
4. Payment Terms
The Buyer agrees to pay the Seller according to the following schedule:
Payment Method(s) Accepted:
5. Inclusions and Exclusions
The following items are included with the sale:
The following items are excluded from the sale:
6. Contingencies
This sale is contingent upon the following conditions (if any):
If the conditions are not met by , either party may terminate the contract in writing.
7. Disclosures
The Seller discloses the following known conditions or issues with the item:
The Buyer acknowledges receipt of all relevant information and agrees to purchase the item “as-is,” unless otherwise stated.
8. Representations and Warranties
9. Amendments
This Agreement may only be amended or modified by a written agreement signed by both Parties.
10. Termination
Either party may terminate this Agreement:
In case of termination, all paid funds shall be:
Fully refunded
Partially refunded
Non-refundable
11. Dispute Resolution
Any dispute arising from this Agreement shall be resolved by:
Mediation
Arbitration
Litigation
If mediation is selected, both parties agree to attempt resolution with a neutral third-party mediator in , sharing costs equally.
If arbitration is selected, the dispute will be resolved by binding arbitration under the rules of in . The arbitrator’s decision shall be final.
If litigation is selected, the parties agree to submit to the jurisdiction of courts in .
Unless otherwise decided by the mediator, arbitrator, or court, each party will bear its own legal fees.
12. Entire Agreement
This Agreement contains the entire understanding between the Parties and supersedes any prior agreements, whether oral or written.
Ever bought or sold something and wished you'd had everything nailed down in writing? That's where a Sales and Purchase Agreement (SPA) can save the day. Think of it like a map for a deal, that helps the buyer and seller know exactly what's happening.
A Sales and Purchase Agreement (SPA) lays out all the key details of a transaction involving goods and/or services. Whether selling furniture, vehicles, or paint for a painting job, the agreement outlines what is being bought/sold and any associated services.
Now, for businesses that offer goods and services, an SPA can be split into two parts: a service agreement for the labor and a sales agreement for the physical products (e.g., the paint). This way, everything is neat and tidy, separating the terms for the service itself from the terms for those fancy paint cans.
These documents might sound like twins, but trust us, they're on different teams in the deal-making world!
Bill of Sale: This is like a victory lap after the game. It's a receipt that proves the buyer now officially owns the furniture, car, etc. they bought. This is given at the finish line when everything is paid for and handed over.
Sales Agreement: This, on the other hand, is like the game plan set up before kickoff. It's a contract that spells out everything both sides (the buyer and seller) agree on – price, delivery date, any warranties (promises about the product's condition), and other important details. This agreement gets hammered out before anyone hands over any cash or goods.
Here's what goes into building this essential document:
The terms "sales agreement" and "purchase agreement" get tossed around a lot. The difference between the two is subtle.
Sales Agreement: This outlines the conditions under which the seller is willing to sell something (price, delivery, warranties, etc). Think of it as the seller saying, "Here's the deal!"
Purchase Agreement: This agreement flips to the buyer's perspective. It lays out the terms that the buyer is agreeing to in order to buy something. It's basically the buyer saying, "I'm in, but here's what I expect!"
In the end, both documents cover the same info, but the wording changes depending on who's putting the pen to paper first.
Forget messy paperwork and endless faxing, Butterscotch is here to make sales agreements a breeze! Here's how our online templates streamline the whole process:
Butterscotch makes managing these agreements easier than ever, leading to more efficient transactions for everyone involved!
Answers to our most asked questions about sales & purchase agreement templates
Contact us