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Sales Agreement With Payment Plan Template for Australia

An Australian-compliant sales agreement that establishes the terms and conditions for the sale of goods with a structured payment plan. This comprehensive document incorporates provisions from the Australian Consumer Law, relevant state Sale of Goods Acts, and the Personal Property Securities Act 2009. It details the sale terms, payment schedule, security interests, and risk allocation between parties, while ensuring compliance with Australian credit and consumer protection legislation. The agreement includes provisions for default management, title retention, and enforcement rights, making it suitable for both business-to-business and business-to-consumer transactions.

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What is a Sales Agreement With Payment Plan?

A Sales Agreement With Payment Plan is essential for transactions where the buyer will pay for goods through scheduled installments rather than a single payment. This document is particularly relevant in the Australian market where significant purchases of equipment, machinery, or other valuable assets require structured payment arrangements. It complies with Australian federal and state legislation, including the Personal Property Securities Act 2009, Australian Consumer Law, and relevant state Sale of Goods Acts. The agreement is commonly used in both business-to-business and business-to-consumer contexts, providing security for the seller while offering payment flexibility to the buyer. It includes crucial elements such as payment terms, title retention, security interests, default provisions, and remedies, making it suitable for high-value transactions where risk management is essential.

What sections should be included in a Sales Agreement With Payment Plan?

1. Parties: Identification and details of the seller and purchaser

2. Background: Context of the sale and purpose of the agreement

3. Definitions and Interpretation: Defined terms and rules for interpreting the agreement

4. Sale of Goods: Description of goods being sold and basic sale terms

5. Purchase Price and Payment Plan: Total price and structured payment arrangements

6. Payment Terms and Methods: Specific payment obligations, accepted methods, and late payment consequences

7. Title and Risk: When title passes and who bears risk during the payment period

8. Security Interest: Details of security interest over goods until full payment

9. Default and Enforcement: Consequences of default and enforcement rights

10. Representations and Warranties: Standard warranties about the goods and authority to sell

11. Termination: Circumstances allowing termination and consequences

12. General Provisions: Standard boilerplate clauses including notices, governing law, etc.

What sections are optional to include in a Sales Agreement With Payment Plan?

1. Delivery: Required if goods need to be delivered - includes delivery terms, timing, and costs

2. Installation: Include if goods require professional installation

3. Training: Required if seller must provide training on use of goods

4. Maintenance and Support: Include if ongoing maintenance or support is part of the agreement

5. Insurance: Required if specific insurance obligations are needed during the payment period

6. Intellectual Property: Include if goods involve software, patents, or other IP rights

7. Confidentiality: Required if sensitive information will be exchanged

8. Return and Refund Policy: Include for consumer goods or when required by law

What schedules should be included in a Sales Agreement With Payment Plan?

1. Schedule 1 - Goods Description: Detailed specification of goods including quantity, quality, and features

2. Schedule 2 - Payment Plan: Detailed payment schedule including dates, amounts, and installment details

3. Schedule 3 - Delivery Details: Specific delivery instructions, locations, and timeframes if applicable

4. Schedule 4 - Warranty Terms: Detailed warranty terms and conditions

5. Schedule 5 - Technical Specifications: Technical requirements and specifications of the goods

6. Appendix A - Required Forms: Forms for payment processing, delivery acceptance, etc.

7. Appendix B - Service Level Agreement: If maintenance or support services are included

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok˰ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Australia

Publisher

tiktok˰

Document Type

Finance Agreement

Cost

Free to use

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