Document background
The Installment Sale Contract is essential for businesses and individuals engaging in sales transactions where the purchase price is paid over time rather than in a single payment. This document is specifically designed for use in Canadian jurisdictions, incorporating requirements from federal and provincial legislation including the Personal Property Security Act, Sale of Goods Act, and Consumer Protection Act. It is commonly used for significant purchases such as vehicles, equipment, or other valuable assets where immediate full payment is not practical or desired. The contract protects the seller's interests through security provisions while ensuring the buyer's rights are properly addressed, including clear disclosure of payment terms, interest rates, and total cost of purchase. The document structure allows for customization based on the specific goods being sold, whether in a business-to-business or business-to-consumer context.
