Retail Installment Sales Contract Template for Ireland

The Retail Installment Sales Contract is essential for businesses operating in Ireland that offer consumers the option to purchase goods through installment payments. This document type combines the elements of a sale agreement with credit terms, allowing customers to acquire goods while paying for them over time. The contract must strictly comply with Irish consumer protection legislation, including the Consumer Credit Act 1995, Consumer Protection Act 2007, and European Union consumer credit regulations. It typically includes detailed product descriptions, payment schedules, interest calculations, consumer rights notices, and warranty information. This type of agreement is particularly common in retail sectors selling high-value items such as furniture, appliances, or vehicles, where immediate full payment may be impractical for many consumers.

1. Parties: Identification of the seller/creditor and the buyer/consumer, including full legal names and addresses

2. Background: Brief context of the transaction and purpose of the agreement

3. Definitions: Key terms used throughout the agreement, ensuring clarity and legal certainty

4. Description of Goods: Detailed description of the item(s) being sold, including make, model, serial numbers, and specifications

5. Purchase Price and Payment Terms: Total purchase price, down payment, interest rate, APR, and installment payment schedule

6. Credit Terms: Detailed credit terms including finance charges, annual percentage rate, and total amount payable

7. Payment Schedule: Specific details of installment payments including amounts, due dates, and payment methods

8. Security Interest: Details of the seller's security interest in the goods until full payment is made

9. Delivery and Acceptance: Terms regarding delivery of goods and buyer's acceptance conditions

10. Default and Remedies: Consequences of default and available remedies for both parties

11. Consumer Rights: Mandatory statement of consumer rights under Irish law, including cooling-off period

12. Insurance Requirements: Mandatory and optional insurance requirements for the goods

13. Warranties: Product warranties and statutory rights under Irish consumer law

14. Governing Law: Confirmation that Irish law governs the agreement

15. Signatures: Execution block for all parties including date and witness requirements