The sales agreement is a necessary legal document that states the exchange between buyer and seller with respect to the sales of products or services. This document acts as a contract that states the agreement in terms of value in money to be paid as promised or that which has already been paid. In the Unites States jurisdiction, this practice of exchange is governed by the Uniform Commercial Code (Article 2). Here, the laws are strict with regards to the transactions made between the buyer and seller and a certain legal format must be adhered to at all costs.
The sales agreement, hence, can also be called a sales contract. The document is very important for both the buyer and seller as the terms and conditions of the required sales to be made is mentioned along with other legal clauses. Thus any transaction between the two parties can only be completed if both the parties agree to these terms and conditions. Therefore, the sales agreement must be constructed with professionalism and careful detailing.
- The document must have a detailed description of the goods and services that are intended for sale. Along with this, the legal names of both buyer and seller must also be mentioned.
- The schedule for this agreement to commence and terminate must be mentioned as well. If there are any disturbances with the time set, there will be necessary actions taken. These actions must also be mentioned.
- The total payment that is due and the manner of payment should be specified in the sales agreement. The time period should also be stipulated.
- The obligations of the seller with reference to deliver the goods on the stated date and time should also be highlighted in the sales agreement.
- The document must have a clause regarding the damage or loss of goods during the time of delivery. Actions to be taken should also be mentioned, in this case.
- The warranty and guarantee of the goods or services provided is also required to be mentioned in this sales agreement.
- The document must sum up the conditions as stated by both parties and mention legal consequences in case either party fails to follow them.
The advantage of creating a sales agreement is that not only does it serve the purpose of acting as a future record but also, if there are any legal disputes, this agreement can be referred to for convenience. Thus, the language should be clear, simple and transparent in a sales agreement.