The Credit Sales Agreement is a specialized contract used when parties wish to combine a sale transaction with credit financing arrangements under German law. This document is particularly useful in commercial transactions involving significant capital expenditure where the buyer requires financing for the purchase. It incorporates elements from both sales and credit legislation, including the Bürgerliches Gesetzbuch (BGB) and Kreditwesengesetz (KWG). The agreement is commonly used in B2B transactions but can also be adapted for B2C situations with additional consumer protection provisions. It typically includes detailed terms about the goods or services being sold, comprehensive credit arrangements, security provisions, and compliance with German banking and commercial regulations. The document serves as a complete framework for the transaction, protecting both the seller's interests in terms of payment security and the buyer's rights regarding the purchased items and credit terms.
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1. Parties: Identification of the seller/creditor and buyer/debtor with full legal details
2. Background: Context of the transaction and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of the goods or services being sold
5. Purchase Price: Total purchase price and breakdown of components
6. Credit Terms: Amount of credit, interest rate, payment schedule, and total amount payable
7. Payment Terms: Schedule of payments, payment methods, and consequences of default
8. Delivery and Acceptance: Terms for delivery, inspection, and acceptance of goods
9. Title and Risk: Transfer of ownership and risk provisions, including retention of title
10. Warranties and Representations: Standard warranties regarding the goods and financial status
11. Default and Remedies: Events of default and available remedies for both parties
12. Termination: Circumstances and procedures for terminating the agreement
13. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Consumer Protection Provisions: Additional protective clauses required for consumer contracts (B2C transactions)
2. Security Arrangements: Additional security measures such as guarantees or collateral
3. Insurance Requirements: Specific insurance obligations for high-value goods
4. Assignment and Transfer: Rights and restrictions regarding assignment of rights/obligations
5. Force Majeure: Provisions for unforeseen circumstances affecting performance
6. Confidentiality: Needed for transactions involving sensitive commercial information
7. Data Protection: GDPR compliance provisions for personal data processing
8. Export Control: Required for international sales or restricted goods
1. Schedule 1 - Product Specifications: Detailed technical specifications of goods
2. Schedule 2 - Payment Schedule: Detailed amortization table showing all payments
3. Schedule 3 - Delivery Schedule: Detailed delivery timelines and locations
4. Schedule 4 - Interest Calculation: Detailed breakdown of interest calculation methodology
5. Appendix A - Required Documents: List of documents required for credit approval
6. Appendix B - Security Documents: Forms of any required security documents
7. Appendix C - Standard Terms: Standard terms and conditions referenced in main agreement
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Automotive
Industrial Equipment
Consumer Goods
Technology
Agriculture
Construction
Medical Equipment
Renewable Energy
Heavy Machinery
Retail
Electronics
Relevant Teams
Legal
Finance
Sales
Commercial
Treasury
Risk Management
Procurement
Compliance
Credit Control
Business Development
Relevant Roles
Chief Financial Officer
Finance Director
Commercial Director
Sales Manager
Credit Manager
Legal Counsel
Contract Manager
Risk Manager
Treasury Manager
Procurement Manager
Business Development Manager
Financial Controller
Credit Analyst
Compliance Officer
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