The Credit Sales Agreement is a fundamental commercial document used in the Philippines when businesses or individuals wish to purchase goods through installment payments rather than immediate full payment. This agreement type is particularly important in the Philippine market, where credit sales are common across various sectors. The document must strictly comply with local regulations, particularly the Truth in Lending Act and Consumer Act, which mandate specific disclosures and consumer protections. A Credit Sales Agreement typically includes detailed terms about the goods being sold, purchase price, interest rates, payment schedules, security arrangements, and default provisions. It's essential for businesses operating in the Philippines to use this agreement when offering goods on credit terms to ensure legal compliance and protect both seller and buyer interests.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the Seller/Creditor and the Buyer/Debtor with complete details as required by Philippine law
2. Background: Context of the transaction and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Details of the goods being sold and purchased
5. Purchase Price: Total purchase price, including breakdown of principal amount and credit charges
6. Payment Terms: Payment schedule, installment amounts, and due dates
7. Interest and Finance Charges: Details of interest rates, computation method, and other finance charges as required by the Truth in Lending Act
8. Security: Details of any security or collateral for the credit sale
9. Delivery and Acceptance: Terms regarding delivery of goods and acceptance procedures
10. Title and Risk: When title passes to the buyer and risk allocation
11. Warranties and Representations: Standard warranties regarding the goods and financial capacity
12. Events of Default: Circumstances constituting default and consequences
13. Remedies: Rights and remedies of parties in case of default
14. General Provisions: Standard boilerplate provisions including notices, amendments, and governing law
1. Insurance: Required when the goods need to be insured during the credit term
2. Co-Maker/Guarantor: Used when a third party guarantees the buyer's obligations
3. Maintenance and Repair: Included for sales of equipment or machinery requiring maintenance
4. Assignment: Include if either party needs the right to assign the agreement
5. Return and Replacement: For goods that may need replacement during the credit term
6. Pre-payment Terms: Include if early payment options are available
7. Post-dated Checks: When PDCs are required as payment security
1. Schedule A - Description of Goods: Detailed specification of goods being sold
2. Schedule B - Payment Schedule: Detailed amortization schedule showing all payments, principal, and interest
3. Schedule C - Disclosure Statement: Truth in Lending Act disclosures including effective interest rate and all charges
4. Schedule D - Delivery Schedule: If multiple deliveries are involved, detailed delivery timeline
5. Schedule E - Security Details: Description of collateral or security arrangements
6. Appendix 1 - Product Documentation: Product manuals, warranties, or technical specifications
7. Appendix 2 - Insurance Requirements: Detailed insurance requirements and procedures
Relevant legal definitions
Clauses
Relevant Industries
Retail
Manufacturing
Automotive
Electronics
Industrial Equipment
Consumer Goods
Construction
Agriculture
Home Appliances
Furniture
Technology
Heavy Machinery
Relevant Teams
Legal
Finance
Sales
Credit Control
Risk Management
Compliance
Treasury
Commercial Operations
Collections
Business Development
Relevant Roles
Credit Manager
Sales Director
Finance Manager
Legal Counsel
Compliance Officer
Risk Manager
Commercial Director
Contract Administrator
Chief Financial Officer
Collections Manager
Account Executive
Business Development Manager
Credit Analyst
Treasury Manager
Find the exact document you need
Offer To Purchase Vehicle
A legally binding offer to purchase a vehicle under Philippine law, specifying purchase terms and conditions while ensuring compliance with local regulations.
Download
Offer To Purchase Commercial (Real Estate)
A formal offer document for the purchase of commercial real estate in the Philippines, compliant with Philippine property laws and regulations.
Download
Offer Agreement (Real Estate)
A formal proposal document under Philippine law outlining terms and conditions for purchasing real estate property, including offer price and contingencies.
Download
Horse Purchase Contract
A Philippine law-governed contract for the sale and purchase of horses, detailing terms of sale, horse identification, and ownership transfer.
Download
Agreement To Buy And Sell (Real Estate)
A Philippine law-governed agreement documenting the terms and conditions for the sale and purchase of real estate property between seller and buyer.
Download
Simple Agreement Of Sale (Real Estate)
A standardized real estate sale agreement under Philippine law for transferring property ownership, detailing essential terms and conditions of the sale transaction.
Download
Lease Purchase Agreement (Real Estate)
A Philippine law-governed agreement combining property lease terms with a purchase option, where rent payments contribute to the final purchase price.
Download
Forward Purchase Agreement (Real Estate)
A Philippine law-governed agreement for the future purchase of real estate, typically used for properties under development, detailing purchase terms and transfer requirements.
Download
Contract To Sell (Real Estate)
A Philippine law-compliant contract committing to transfer real estate ownership upon full payment, governed by the Civil Code and real estate protection laws.
Download
Contract For The Sale And Purchase Of (Real Estate)
A legally binding agreement under Philippine law that documents the terms and conditions for the sale and transfer of real estate property between a seller and buyer.
Download
Sellers Agreement (Real Estate)
A legally binding agreement under Philippine law that documents the terms and conditions for the sale of real estate property between a seller and buyer.
Download
Letter Of Intent To Purchase (Real Estate)
A preliminary document used in Philippine real estate transactions expressing a potential buyer's formal interest in purchasing a specific property and outlining basic terms of the proposed purchase.
Download
Closing Agreement (Real Estate)
A legally binding agreement under Philippine law that finalizes real estate property transfer between parties, detailing closing requirements and transfer procedures.
Download
For Sale By Owner Purchase Contract
A Philippine-compliant purchase agreement for direct property sales between owners and buyers, without broker involvement.
Download
Agreement To Sell Immovable Property
A Philippine law-governed agreement establishing terms and conditions for the future sale of immovable property, serving as a preliminary contract before the final Deed of Absolute Sale.
Download
For Sale By Owner Real Estate Purchase Agreement
A Philippine-law governed agreement for direct property sales between owners and buyers without primary broker involvement, documenting all essential terms and conditions of the real estate transfer.
Download
Used Car Purchase Agreement
A legally binding agreement for the sale and purchase of used vehicles in the Philippines, compliant with local automotive and consumer protection laws.
Download
As Is Sale Contract
A Philippine law-governed contract for the sale of property or goods in their current condition, with limited warranties and 'as is' provisions.
Download
Offer To Purchase Land
A Philippine law-compliant document presenting formal terms and conditions for the purchase of land, initiating the property acquisition process.
Download
Real Estate Purchase Agreement Form
A legal agreement under Philippine law for the sale and purchase of real property, detailing terms, conditions, and requirements for property transfer.
Download
Agreement For Advance Payment For Purchase Of House
A Philippine law-compliant agreement establishing terms for advance payment in residential property purchase, protecting both buyer and seller interests.
Download
Heavy Equipment Purchase Agreement
A Philippine law-governed agreement for the purchase of heavy equipment, detailing specifications, terms, and compliance requirements.
Download
Car Lease To Own Agreement
A Philippine law-governed agreement establishing terms for vehicle lease-to-own arrangements, including lease terms, payment schedules, and eventual ownership transfer conditions.
Download
Equipment Purchase Contract
A Philippine law-governed contract for equipment purchase, covering specifications, payment terms, warranties, and regulatory compliance.
Download
Business Sale Contract
A Philippine law-governed agreement for the sale and purchase of a business, including terms, conditions, and transition arrangements.
Download
Second Hand Car Purchase Agreement
A legally-binding agreement for the sale and purchase of a second-hand vehicle under Philippine law, detailing transaction terms and transfer requirements.
Download
Buyback Agreement
A Philippine law-governed agreement detailing terms and conditions for a company's repurchase of its own shares from existing shareholders.
Download
Vehicle Hire Purchase Agreement
A Philippine law-governed agreement for vehicle purchase through installment payments, establishing terms between a finance company and purchaser until full payment is made.
Download
Model Asset Purchase Agreement
A standardized agreement under Philippine law governing the sale and purchase of business assets, including terms, conditions, and regulatory compliance requirements.
Download
Commercial Real Estate Contract
A Philippine law-governed agreement for commercial real estate transactions, covering property sale terms, conditions, and compliance requirements.
Download
Aircraft Sale Agreement
A Philippine law-governed agreement for the sale and transfer of aircraft ownership, including technical specifications, regulatory compliance, and transaction terms.
Download
Agreement For Advance Payment For Purchase Of Goods
A Philippine law-governed agreement establishing terms for advance payment in goods purchase, including payment terms, delivery obligations, and security measures.
Download
Advance Agreement For Land Purchase
A preliminary contract under Philippine law establishing terms and conditions for a future land purchase, including advance payment arrangements and completion timeline.
Download
Residential Real Estate Contract
A legally binding agreement under Philippine law for the sale and purchase of residential real estate property, detailing terms, conditions, and obligations of all parties involved.
Download
Sales Agreement For A Car
A legally binding agreement under Philippine law that documents the terms and conditions for the sale and purchase of a motor vehicle, ensuring proper transfer of ownership and regulatory compliance.
Download
Purchase Agreement Letter
A formal letter-format document used in the Philippines that outlines the terms and conditions of a purchase agreement between parties, combining business correspondence with legal requirements.
Download
Probate Purchase Agreement
A legal agreement under Philippine law governing the sale and transfer of probate assets or rights from an estate to a buyer.
Download
Personal Property Purchase Agreement
A legally binding agreement under Philippine law that documents the sale and transfer of personal property between parties, specifying terms, conditions, and obligations.
Download
Non Binding Letter Of Intent To Purchase Product
A preliminary, non-binding document under Philippine law expressing a potential buyer's intention to purchase specific products, outlining key terms and conditions for future negotiations.
Download
Earnest Money Form
A Philippine legal document formalizing earnest money terms between buyer and seller in property transactions, governed by the Civil Code of the Philippines.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)