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The Installment Purchase Contract is a fundamental document used in the Philippines for transactions where goods or property are purchased through a series of scheduled payments rather than a single lump sum. This contract type is particularly important in the Philippine market, where installment purchases are common across various sectors, from real estate to consumer goods. The document must comply with several key pieces of legislation, including the Civil Code of the Philippines, the Maceda Law (particularly for real estate), and the Consumer Act. It provides a structured framework for protecting both buyer and seller interests, detailing payment terms, ownership transfer conditions, default provisions, and remedies. The contract is designed to accommodate various transaction types while ensuring adherence to mandatory consumer protection requirements under Philippine law.

1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal capacity to contract

2. Background: Describes the context of the sale and the parties' intention to enter into an installment purchase arrangement

3. Definitions: Defines key terms used throughout the contract, including payment terms, property description, and other technical terms

4. Subject Matter: Detailed description of the property or goods being sold on installment

5. Purchase Price and Payment Terms: Specifies the total purchase price, down payment, installment amounts, payment schedule, and interest rate

6. Delivery and Transfer of Ownership: Details when and how the property will be delivered and when ownership transfers

7. Rights and Obligations of the Parties: Outlines the specific responsibilities and rights of both buyer and seller during the installment period

8. Default and Remedies: Specifies what constitutes default and the remedies available, including grace periods as required by the Maceda Law

9. Warranties and Representations: States the warranties provided by the seller and representations made by both parties

10. Insurance and Maintenance: Requirements for insurance coverage and maintenance of the property during the installment period

11. Taxes and Expenses: Allocation of taxes, registration fees, and other expenses

12. Governing Law and Dispute Resolution: Specifies Philippine law as governing law and outlines dispute resolution procedures

13. Miscellaneous Provisions: Standard clauses including severability, entire agreement, and amendments

14. Execution: Signature blocks and notarization requirements