A Terms of Sale Agreement serves as the foundational contract for commercial transactions in the United States, governed by both federal and state laws. This document is essential when establishing a formal selling arrangement, whether for single transactions or ongoing business relationships. The agreement typically covers crucial aspects such as product specifications, pricing, payment terms, delivery conditions, warranties, and liability limitations. It ensures compliance with the Uniform Commercial Code and relevant consumer protection laws while providing clear guidelines for dispute resolution.
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1. Parties: Identification and details of the seller and buyer
2. Background: Context of the sale agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Product Description: Detailed description of goods being sold
5. Price and Payment Terms: Pricing, payment methods, and payment schedule
6. Delivery Terms: Shipping, delivery timeframes, and risk transfer
7. Warranties: Product warranties and disclaimers
8. Term and Termination: Duration and termination conditions
1. Return Policy: Terms for product returns and refunds - include for retail or consumer sales
2. Intellectual Property: IP rights and licenses - include when selling products with IP components
3. Data Protection: Privacy and data handling provisions - include when collecting customer data
4. Force Majeure: Provisions for unforeseen circumstances - include for long-term or high-value contracts
1. Product Specifications: Detailed technical specifications of products
2. Price List: Detailed pricing information and volume discounts
3. Warranty Certificate: Detailed warranty terms and conditions
4. Service Level Agreement: Additional services included with the sale
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