Agreement for Sale of Goods
|Updated to:||March 2010|
|Profession:||Think Legal Resources Pvt Ltd.|
AGREEMENT FOR SALE OF GOODS
THIS AGREEMENT made on this __________ day of __________, between XYZ a company incorporated under the Companies Act, 1956 and having its registered office at __________ (hereinafter referred to as the SELLER, which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors and assigns) of the ONE PART and PQR (give name and description of the person or legal entity) (hereinafter referred to as the BUYER which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors and assigns) of the OTHER PART.
WHEREAS the Seller is a manufacturer of _______________ (Details of business)
WHEREAS the buyer is a trader and has approached the Seller asking him to sell the goods at the rate of __ per unit/ Kilo.
THE PARTIES HERETO agree to abide as under:
The Seller undertakes to sell the Buyer and the Buyer undertakes to buy from Seller___________ goods (hereinafter called the 'said goods') at a price of Rs. _____________.
The Seller will send the said goods through the designated ship the information of which ship and the date of its arrival at the port of dispatch in India shall be sent to the buyer.
The Seller shall make an agreement with the master of the ship for the transportation and delivery of the said goods at the Indian port.
It shall be the responsibility of the Buyer to have said goods insured for their value upon the current terms and make out an invoice.
It shall be the responsibility of the Buyer to have letter of credit through its banker which shall cover the price of the goods, freight insurance and other charges in favour of the Seller's banker.
After the shipment of the said goods the seller shall send all the necessary documents including the contract of a freightment, insurance policy, invoice, bills of lading, etc., to its banker at the Indian port.
The aforesaid document shall be delivered to the Buyer banker's against the encashment of the letter of credit which shall, in turn, deliver the same to the Buyer to enable him to get the goods cleared at the Indian port. Delivery of the documents shall constitute the delivery of goods and henceforth the goods shall be at the risk of the Buyer.
It shall be the responsibility the Buyer to open a letter of credit with...
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