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The Installment Purchase Agreement is a vital commercial document used in the Philippines when parties wish to structure a purchase through periodic payments rather than a single lump sum. This document type is particularly relevant in scenarios ranging from real estate transactions to equipment purchases, where buyers benefit from spreading payments over time while sellers secure their interests through retained title until full payment. The agreement must comply with Philippine legislation, particularly the Maceda Law for real estate transactions, the Truth in Lending Act for financial disclosures, and the Civil Code's provisions on contracts and sales. It includes comprehensive details about payment terms, interest calculations, delivery conditions, default provisions, and remedies available to both parties.

1. Parties: Identification of the Seller and Buyer with complete details including addresses and tax identification numbers

2. Background: Context of the transaction and brief description of the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Subject Matter: Detailed description of the property or goods being sold on installment

5. Purchase Price and Payment Terms: Total purchase price, down payment, installment amounts, payment schedule, and interest rates in compliance with Truth in Lending Act

6. Delivery and Acceptance: Terms and conditions for delivery and acceptance of the property/goods

7. Title and Risk: Provisions regarding transfer of title and risk, including retention of title until full payment

8. Buyer's Rights and Obligations: Complete list of buyer's rights including those under Maceda Law, and obligations

9. Seller's Rights and Obligations: Complete list of seller's obligations and rights

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

11. Insurance: Requirements for insurance coverage of the property/goods

12. Representations and Warranties: Statements of fact and promises made by both parties

13. Termination: Conditions and procedures for agreement termination

14. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction details

15. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability