Free Template

Installment Sales Contract

2 signers
1 Seller
2 Buyer
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Installment Sales Contract

These agreements are used by buyers and sellers to check and agree upon the type of installment plan a certain product or service has before purchase.
installment sales contract template

When do you need an Installment Sales Contract?

An installment sales contract can come in real handy when disputes occur between buyer and seller – be it related to any fraudulent behavior, delivery delays, or payment default. Since all the nuances relating to the transaction are detailed out in this legal document, a fair settlement can be easily facilitated.
set the premise of the transaction

Set the premise of the transaction

Start with properly introducing the buyer & seller in the transaction. Mention their full name, roles, full address, and email ID. It’s also a good practice to specify from what date onwards the contract becomes enforceable.

clearly mention the payment terms

Clearly mention the payment terms

Mention how much is the client paying and the invoice due date. Also mention the mode of payment, whether that’s cash, cheque or e-payment. Also you should mention which party will pay the taxes. All these need to be ironed out in this section of the sales contract template.

clearly mention the payment terms

Outline delivery & ownership-related aspects

You need to make sure that both the buyer and seller are clear about when the services / goods are expected to be delivered. Also, make note of who will be responsible for the goods while they are being shipped to the buyer and when the ownership transfer happens.

define how to deal with delays defaults and breaches

Define how to deal with delays, defaults, and breaches

This section of the contract ensures that buyers are not stuck with fake, poorly functioning, or wrong products. Sellers can also ensure that wrongful claims about the quality of the goods are not made, long after the delivery. Therefore, make sure you mention how both parties need to respond to situations where the delivered order doesn’t fit the order description.

FAQ About Our Installment Sales Contract Template

An installment sales contract is also known as a land contract or articles of agreement for warranty deed or contract for deed. This is an agreement between a real estate seller and buyer, under which the buyer agrees to pay to the seller the purchase price plus interest in installments over a set period of time.

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