Bill Of Sale With Payment Plan Template for Australia

The Bill of Sale with Payment Plan Template is designed for use in Australian jurisdictions where parties wish to document the sale of valuable goods with payment to be made in installments over time. This document type is particularly crucial when selling high-value items such as vehicles, equipment, or machinery, where immediate full payment is not practical or desired. The template incorporates essential elements required under Australian law, including PPSR provisions, consumer protection requirements, and state-specific regulations. It provides a comprehensive framework for documenting the transfer of ownership while protecting the seller's security interest until full payment is received. The document is structured to comply with the Personal Property Securities Act 2009 (Cth) and relevant state legislation, making it suitable for both commercial and consumer transactions.

1. Parties: Identifies and provides full legal details of the Seller and Buyer, including ABN/ACN if applicable, and their respective addresses

2. Background: Outlines the context of the sale, confirms the Seller's ownership of the goods, and establishes the intent to sell with a payment plan

3. Definitions: Defines key terms used throughout the agreement, including 'Goods', 'Payment Plan', 'Settlement Date', and other relevant terms

4. Sale and Purchase: Details the agreement to sell and purchase the goods, including the purchase price and confirmation of the transfer of title

5. Description of Goods: Provides detailed description of the goods being sold, including serial numbers, condition, and any existing warranties

6. Payment Terms: Specifies the total purchase price, deposit amount, payment schedule, payment methods, and consequences of default

7. Security Interest: Establishes the Seller's security interest in the goods until full payment is received, including PPSR requirements

8. Risk and Insurance: Specifies when risk passes to the Buyer and insurance requirements during the payment period

9. Warranties and Representations: Details the Seller's warranties regarding ownership and condition of goods, and Buyer's acknowledgments

10. Default and Enforcement: Outlines what constitutes default, consequences, and the Seller's enforcement rights

11. General Provisions: Standard legal provisions including governing law, notices, assignment, and entire agreement clauses