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Initial Contract Of Sale
"I need an Initial Contract of Sale for selling industrial machinery to a Singapore-based manufacturer, with specific requirements for installation, training, and a 12-month warranty period, to be delivered by March 2025."
1. Parties: Identification and details of seller and buyer
2. Background: Context and purpose of the sale
3. Definitions: Key terms used in the contract
4. Subject Matter: Description of goods being sold
5. Price and Payment: Purchase price, payment terms and method
6. Delivery: Delivery terms, timing, and location
7. Title and Risk: Transfer of ownership and risk provisions
8. Warranties: Standard warranties regarding goods
1. Inspection Rights: Buyer's rights to inspect goods - recommended for complex or high-value goods
2. Insurance: Insurance requirements during transit - recommended for international sales or high-value items
3. Intellectual Property: IP rights associated with goods - recommended for goods involving IP rights
4. Confidentiality: Protection of confidential information - recommended for sensitive commercial transactions
1. Schedule 1 - Specification of Goods: Detailed technical specifications
2. Schedule 2 - Price Breakdown: Detailed pricing information
3. Schedule 3 - Delivery Schedule: Detailed delivery timelines and locations
4. Appendix A - Quality Standards: Applicable quality standards and certifications
Authors
Sale and Purchase
Price and Payment
Delivery
Title and Risk
Warranties and Representations
Quality and Description
Inspection and Testing
Insurance
Force Majeure
Confidentiality
Assignment and Subcontracting
Notices
Termination
Governing Law and Jurisdiction
Entire Agreement
Variation
Severability
Third Party Rights
Dispute Resolution
Product Returns
Intellectual Property
Limitation of Liability
Indemnification
Default
Compliance with Laws
Taxes
Record Keeping
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