Document background
The Contract Between Buyer and Seller is a fundamental commercial document used to formalize sales transactions in Malaysia. This document is essential when parties wish to establish clear, legally binding terms for the sale and purchase of goods or services, whether for one-time transactions or ongoing supply arrangements. The contract incorporates requirements from key Malaysian legislation, including the Contracts Act 1950 and Sale of Goods Act 1957, and can be customized to address specific commercial needs while maintaining compliance with local laws. It typically includes detailed provisions on pricing, payment, delivery, warranties, and risk transfer, making it suitable for both straightforward and complex commercial transactions. This type of agreement is particularly important in establishing clear rights and obligations, reducing the risk of disputes, and providing a framework for resolving any issues that may arise during the transaction.
