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1. Parties: Identifies and provides full details of all parties to the agreement, including registration/ID numbers and addresses
2. Background: Sets out the context of the agreement and the purpose of the down payment
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Down Payment Amount and Purpose: Specifies the exact amount of the down payment and what it is being paid towards
5. Payment Terms: Details of how and when the down payment must be made, including payment method and deadline
6. Application of Down Payment: Explains how the down payment will be applied to the total purchase price or obligation
7. Refund Conditions: Specifies circumstances under which the down payment may be refunded or forfeited
8. Obligations of the Parties: Lists the specific obligations of both the payer and recipient regarding the down payment
9. Default and Remedies: Outlines what constitutes default and the consequences thereof
10. General Terms: Standard contract terms including notices, amendments, and governing law
11. Signatures: Space for parties to execute the agreement with witness provisions as required
1. Installment Schedule: Include when the down payment is part of a larger payment plan with multiple installments
2. Security Provisions: Include when additional security is required for the down payment
3. Interest Calculations: Include when interest applies to the down payment or remaining balance
4. Third Party Rights: Include when other parties have rights or obligations related to the down payment
5. Insurance Requirements: Include when insurance is required to protect the down payment or related assets
6. VAT Provisions: Include when the transaction is subject to VAT and requires specific treatment
7. Force Majeure: Include when specific events beyond parties' control should be addressed regarding the down payment
1. Payment Schedule: Detailed breakdown of payment amounts, dates, and methods
2. Asset Description: Detailed description of the asset or service for which the down payment is being made
3. Bank Account Details: Banking information for payment processing
4. Required Documents: List of supporting documents required for the down payment transaction
5. Calculation Methods: Detailed explanation of how various calculations (interest, penalties, etc.) are performed
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