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Installment Agreement
I need an Installment Agreement for a manufacturing equipment purchase worth 500,000 DKK, with monthly payments over 36 months starting March 2025, including security interest in the equipment and maintenance terms.
1. Parties: Identification of the seller/creditor and buyer/debtor with full legal names, addresses, and registration numbers
2. Background: Context of the agreement and description of the transaction
3. Definitions: Key terms used throughout the agreement
4. Object of Purchase: Detailed description of goods/services being purchased
5. Purchase Price: Total purchase price including any applicable taxes
6. Payment Terms: Installment amount, number of installments, payment dates, and payment method
7. Interest Rate: Applicable interest rate, APR, and calculation method
8. Default and Acceleration: Consequences of missed payments and conditions for acceleration of debt
9. Title and Risk: When title passes to the buyer and risk allocation
10. Representations and Warranties: Basic warranties regarding authority to enter agreement and condition of goods
11. Governing Law and Jurisdiction: Specification of Danish law and competent courts
12. Signatures: Execution blocks for all parties
1. Security: Include when collateral or security interest is required
2. Insurance: Include when insurance of the purchased item is required
3. Early Repayment: Include when early repayment options are offered
4. Assignment: Include when transfer rights need to be specified
5. Force Majeure: Include for long-term installment agreements
6. Maintenance and Service: Include for goods requiring ongoing maintenance
7. Return Rights: Include for consumer contracts with return options
8. Data Protection: Include when personal data processing is involved
1. Payment Schedule: Detailed breakdown of all installment payments with dates and amounts
2. Product Specification: Detailed technical specifications of goods being purchased
3. Interest Calculation: Detailed breakdown of interest calculations and total cost of credit
4. Delivery Schedule: If goods are delivered in installments, detailed delivery timeline
5. Security Documentation: If applicable, documents relating to collateral or security
6. Maintenance Terms: If applicable, detailed maintenance or service requirements
Authors
Retail
Automotive
Consumer Goods
Manufacturing
Construction
Electronics
Furniture
Industrial Equipment
Real Estate
Technology
Agriculture
Medical Equipment
Legal
Finance
Sales
Credit Control
Commercial
Risk Management
Compliance
Collections
Business Development
Customer Service
Finance Manager
Credit Controller
Sales Director
Legal Counsel
Contract Manager
Commercial Director
Risk Manager
Credit Analyst
Account Executive
Business Development Manager
Compliance Officer
Collections Manager
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