Installment sales contract

Here is a possible outline for a template or sample installment sales contract:

[Party A Name and Address] [Party B Name and Address]

1. Purpose This agreement (the “Agreement”) sets forth the terms and conditions under which [Party A] (“Seller”) will sell and [Party B] (“Buyer”) will purchase the item(s) (the “Product(s)”) in installments.
2. Installment Payments Buyer shall pay the purchase price of the Product(s) in [insert number] equal installments of [insert installment amount] (the “Installments”), due on the [insert due date] of each month, commencing on [insert commencement date] and ending on [insert final installment date].
3. Interest and Fees Buyer shall pay interest on the outstanding balance of the purchase price at the rate of [insert interest rate] per annum. In addition, Buyer shall pay any fees associated with the installment plan, such as late fees or processing fees.
4. Security Interest Buyer grants Seller a security interest in the Product(s) to secure the payment of the Installments and any other amounts owed by Buyer to Seller under this Agreement.
5. Default and Remedies If Buyer fails to make any installment payment when due, Seller may, in its sole discretion, terminate this Agreement and repossess the Product(s), retain any payments previously made by Buyer as liquidated damages, and pursue any other remedies available to it at law or in equity.
6. Title and Risk of Loss Title to the Product(s) shall remain with Seller until the purchase price has been paid in full. Risk of loss shall pass to Buyer upon delivery of the Product(s) to Buyer.
7. Representations and Warranties Buyer represents and warrants that it has the legal right and authority to enter into this Agreement and to purchase the Product(s).
8. Governing Law and Dispute Resolution This Agreement shall be governed by and construed in accordance with the laws of [insert governing jurisdiction]. Any disputes arising from or related to this Agreement shall be resolved through mediation or arbitration in accordance with the rules of [insert governing mediation or arbitration organization], and the decision of the mediator or arbitrator shall be final and binding on both parties.

[Signatures]

Please note that this is just a general outline and not a substitute for legal advice. It’s important to consult with a qualified attorney to ensure that your specific needs and requirements are addressed in the contract.