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Contract Between Buyer And Seller

Contract Between Buyer And Seller Template for Singapore

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Key Requirements PROMPT example:

Contract Between Buyer And Seller

"I need a Contract Between Buyer And Seller for our company's purchase of manufacturing equipment from a Singapore supplier, with a total value of SGD 2.5 million and delivery scheduled for March 2025, including specific quality standards and acceptance testing procedures."

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What is a Contract Between Buyer And Seller?

The Contract Between Buyer And Seller is a fundamental commercial document used in Singapore for facilitating sale transactions. It's essential for businesses engaged in the sale of goods, providing legal protection under Singapore's robust commercial law framework. The contract typically includes detailed specifications of goods, pricing, delivery terms, warranties, and risk allocation. It's particularly relevant for transactions governed by the Sale of Goods Act and should be customized based on the nature of goods and commercial relationship between parties.

What sections should be included in a Contract Between Buyer And Seller?

1. Parties: Identification and details of buyer and seller

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Sale and Purchase: Core terms of the transaction including price and goods description

5. Payment Terms: Payment amount, method, and schedule

6. Delivery: Delivery terms, timing, and logistics

7. Title and Risk: Transfer of ownership and risk in goods

8. Warranties: Standard warranties regarding goods quality and condition

9. Termination: Circumstances and process for contract termination

10. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Contract Between Buyer And Seller?

1. Inspection Rights: Buyer's right to inspect goods before acceptance - used for complex or high-value goods

2. Insurance: Insurance requirements for goods in transit - used for international sales or high-value goods

3. Intellectual Property: IP rights and restrictions - used when goods involve intellectual property rights

4. Confidentiality: Protection of confidential information - used when sensitive information is shared

What schedules should be included in a Contract Between Buyer And Seller?

1. Schedule 1 - Goods Specification: Detailed description of goods being sold

2. Schedule 2 - Pricing Schedule: Detailed pricing information including any volume discounts

3. Schedule 3 - Delivery Schedule: Detailed delivery timelines and locations

4. Appendix A - Quality Standards: Applicable quality standards and specifications

5. Appendix B - Warranty Terms: Detailed warranty terms and conditions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions














































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Industries

Sale of Goods Act (SOGA): Primary legislation governing contracts for sale of goods in Singapore. Defines rights and obligations of buyers and sellers, covers conditions and warranties, and deals with transfer of property and title.

Contract Law Act: Fundamental legislation based on common law principles that governs the formation, validity, and enforcement of contracts in Singapore.

Electronic Transactions Act: Regulates electronic transactions, including the validity of electronic signatures and records in contractual agreements.

Consumer Protection (Fair Trading) Act: Protects consumer interests against unfair practices in transactions between businesses and consumers.

Unfair Contract Terms Act: Controls the use of exclusion clauses in contracts and ensures reasonableness in contract terms.

Limitation Act: Establishes statutory time limits for bringing legal actions related to contractual disputes.

Supply of Goods Act: Specific legislation governing particular types of sales transactions and supply of goods.

Goods and Services Tax Act: Covers tax considerations and requirements in commercial transactions in Singapore.

UN Convention on Contracts for the International Sale of Goods (CISG): International treaty governing cross-border sale of goods, applicable if the contract involves international trade.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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