A product purchase agreement is a legally binding document that outlines the terms and conditions for the sale of goods between a seller and a buyer. Below is a sample product purchase agreement template. Please note that this is a general template and should be customized to fit the specific needs and requirements of the parties involved. It is highly recommended to seek legal advice when drafting such agreements.
Sample 1: Product Purchase Agreement
Effective Date: [Date]
Seller:
- Name: [Seller’s Name]
- Address: [Seller’s Address]
Buyer:
- Name: [Buyer’s Name]
- Address: [Buyer’s Address]
Product Description:
- Product: [Product Name]
- Description: [Product Description]
- Quantity: [Quantity]
- Unit Price: [Price per Unit]
- Total Price: [Total Price]
Terms and Conditions:
Price and Payment:
- Total purchase price: [Total Price]
- Payment Method: [Payment Method]
- Payment Term: [Payment Term] days
Delivery:
- Delivery Date: [Delivery Date]
- Delivery Location: [Delivery Address]
Inspection and Acceptance:
- Buyer must inspect products upon delivery.
- Notification of non-conformance or damage within [Notification Period] days.
Title and Risk of Loss:
- Title passes upon full payment.
- Risk passes upon delivery.
Warranty:
- Seller’s Warranty: Products free from defects and conform to description.
Indemnification:
- Seller to indemnify Buyer from claims due to breaches.
Termination:
- Either Party may terminate for material breach.
Governing Law:
- Governed by [State/Country] law.
Entire Agreement:
- This Agreement is the entire understanding between the Parties.
Amendment:
- Amendments require written consent from both Parties.
Counterparts:
- Executable in multiple counterparts.
Signatures:
Seller:
[Signature] _________________ [Printed Name] __________________ [Title] __________________ [Date] __________________
Buyer:
[Signature] ___________________ [Printed Name] __________________ [Title] ___________________ [Date] ___________________
Please consult a legal professional for customization to your specific needs and legal requirements.
Sample 2: Product Purchase Agreement
This Product Purchase Agreement (“Agreement”) is entered into on [Date], (the “Effective Date”) by and between:
Seller: [Legal Name of Seller] [Address of Seller] [City, State, ZIP Code] [Contact Information of Seller]
Buyer: [Legal Name of Buyer] [Address of Buyer] [City, State, ZIP Code] [Contact Information of Buyer]
Collectively referred to as the “Parties.”
1. Product Description:
1.1 Product: The Seller agrees to sell and the Buyer agrees to purchase the following product(s):
- Product Name: [Name of Product]
- Description: [Product Description]
- Quantity: [Quantity]
- Unit Price: [Price per Unit]
- Total Price: [Total Price]
2. Terms and Conditions:
2.1 Price and Payment:
2.1.1 The Buyer shall pay the total purchase price as specified in Section 1.1 above.
2.1.2 Payment Method: The Buyer shall make the payment through [Payment Method], within [Payment Term] days of receiving the invoice from the Seller.
2.2 Delivery:
2.2.1 Delivery Date: The Seller shall deliver the products to the Buyer on or before [Delivery Date].
2.2.2 Delivery Location: The products shall be delivered to the following address: [Delivery Address].
2.3 Inspection and Acceptance:
2.3.1 The Buyer shall inspect the products upon delivery. If the products do not conform to the description or are damaged, the Buyer shall notify the Seller within [Notification Period] days.
2.3.2 If no notification is received within the specified period, the products shall be deemed accepted by the Buyer.
2.4 Title and Risk of Loss:
2.4.1 Title to the products shall pass to the Buyer upon full payment.
2.4.2 Risk of loss or damage to the products shall pass to the Buyer upon delivery.
3. Warranties:
3.1 Seller’s Warranty: The Seller warrants that the products are free from defects in materials and workmanship and conform to the description provided.
4. Indemnification:
The Seller shall indemnify and hold the Buyer harmless from any claims, liabilities, damages, or expenses arising out of any breach of this Agreement.
5. Termination:
Either Party may terminate this Agreement in the event of a material breach by the other Party.
6. Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of [State/Country], without regard to its conflict of law principles.
7. Entire Agreement:
This Agreement constitutes the entire agreement between the Parties and supersedes all prior or contemporaneous understandings, agreements, representations, and warranties.
8. Amendment:
This Agreement may only be amended in writing and signed by both Parties.
9. Counterparts:
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties hereto have executed this Product Purchase Agreement as of the Effective Date.
Seller:
[Signature] ______________________ [Printed Name] ______________________ [Title] ______________________ [Date] ______________________
Buyer:
[Signature] ______________________ [Printed Name] ______________________ [Title] ______________________ [Date] ______________________
Please remember to consult with a legal professional to ensure that your product purchase agreement complies with relevant laws and regulations and meets the specific needs of your transaction.