The Retail Installment Contract And Security Agreement is essential for businesses in the Philippines engaging in consumer credit transactions for the sale of goods. This document is commonly used when customers purchase significant items like vehicles, appliances, or equipment through installment payments. It serves dual purposes: first, as a detailed contract outlining the terms of sale and payment schedule, and second, as a security agreement creating a lien on the purchased goods. The agreement must comply with Philippine consumer protection laws, particularly the Truth in Lending Act and the Consumer Act, requiring specific disclosures about finance charges, interest rates, and total costs. This type of agreement is particularly important in the Philippine market, where installment purchasing is common and sellers need robust legal protection for credit sales.
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 buyer/debtor with complete details as required by Philippine law
2. Background: Context of the transaction and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Description of Goods: Detailed description of the goods being sold on installment
5. Purchase Price and Payment Terms: Total purchase price, down payment, installment amounts, payment schedule, and interest rate
6. Truth in Lending Disclosures: Mandatory disclosures required by RA 3765 including finance charges, annual percentage rate, and total cost of credit
7. Security Interest: Creation and terms of the security interest in the goods
8. Insurance Requirements: Required insurance coverage for the goods and terms related to insurance
9. Buyer's Representations and Warranties: Buyer's declarations regarding their capacity and authority to enter into the agreement
10. Seller's Representations and Warranties: Seller's declarations regarding title, condition of goods, and authority to sell
11. Events of Default: Circumstances constituting default and consequences thereof
12. Remedies: Rights and remedies of the seller in case of default
13. General Terms and Conditions: Standard contractual provisions including notices, amendments, and assignment
14. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes
1. Co-Buyer Provisions: Additional terms when there is a co-buyer or guarantor for the purchase
2. Trade-In Details: Terms related to any trade-in vehicle or goods involved in the transaction
3. Delivery Terms: Specific provisions regarding delivery of goods when not immediate
4. Maintenance Requirements: Special maintenance obligations for specific types of goods
5. Prepayment Terms: Specific terms for early payment or full settlement of the installment contract
6. Electronic Payment Authorization: Terms for automatic payment arrangements if applicable
7. Return Policy: Special return or exchange terms if applicable to the goods
8. Data Privacy Consent: Specific consent clauses for handling personal information under the Data Privacy Act
1. Schedule A - Payment Schedule: Detailed amortization schedule showing all installment payments, interest, and principal portions
2. Schedule B - Product Specifications: Detailed technical specifications or description of the goods
3. Schedule C - Delivery Schedule: Detailed delivery timeline and terms if applicable
4. Schedule D - Insurance Requirements: Specific insurance requirements and coverage details
5. Appendix 1 - Truth in Lending Disclosure Statement: Detailed breakdown of all charges and fees as required by law
6. Appendix 2 - Warranty Terms: Manufacturer's warranty terms and additional warranty provisions
7. Appendix 3 - Security Agreement Details: Detailed description of the security interest and collateral
8. Appendix 4 - Required Documents: List of supporting documents required from the buyer
Relevant legal definitions
Clauses
Relevant Industries
Retail
Consumer Goods
Automotive
Electronics
Furniture and Home Furnishings
Appliances
Machinery and Equipment
Agricultural Equipment
Construction Equipment
Consumer Finance
Banking and Financial Services
Relevant Teams
Legal
Finance
Sales
Compliance
Risk Management
Credit Operations
Customer Service
Collections
Business Development
Retail Operations
Relevant Roles
Retail Operations Manager
Credit Manager
Financial Controller
Legal Counsel
Compliance Officer
Sales Manager
Finance Manager
Contract Administrator
Risk Manager
Collections Manager
Customer Service Manager
Business Development Manager
Branch Manager
Credit Analyst
Sales Representative
Find the exact document you need
Pledge Agreement (Real Estate)
A Philippine law-governed security agreement where real property is pledged as collateral to secure a debt or obligation.
Download
Membership Pledge Agreement
A Philippine law-governed agreement that establishes formal membership terms, rights, and obligations between an organization and its members.
Download
Motor Vehicle Security Agreement
A Philippine law-governed agreement establishing a security interest in a motor vehicle as collateral for a loan or financial obligation.
Download
Security Interest Contract
A Philippine law-governed agreement creating a security interest in assets to secure an obligation, subject to the Personal Property Security Act and related legislation.
Download
Real Estate Security Agreement
A Philippine law-governed agreement creating a security interest over real property as collateral for a loan or obligation.
Download
Personal Information Confidentiality Agreement
A Philippine law-compliant agreement establishing confidentiality obligations for handling personal information, aligned with the Data Privacy Act of 2012.
Download
Security Agreement For Promissory Note
A Philippine law-governed security agreement that creates a security interest in collateral to secure obligations under a promissory note.
Download
Stock Transfer Agreement Gift
A Philippine law-compliant agreement for the gratuitous transfer of corporate shares from a donor to a donee, incorporating necessary tax and regulatory requirements.
Download
Security Deposit Agreement
A Philippine law-governed agreement establishing terms for handling, maintaining, and returning a security deposit between parties, typically used in property rental or service arrangements.
Download
Penetration Testing Confidentiality Agreement
A Philippine-law governed agreement establishing confidentiality terms and authorized activities for cybersecurity penetration testing services.
Download
Data Privacy Contract
A Philippine law-compliant contract governing personal data processing arrangements between parties, aligned with the Data Privacy Act of 2012.
Download
Collateral Substitution Agreement
A Philippine law-governed agreement enabling the substitution of loan collateral while maintaining security interest continuity and regulatory compliance.
Download
Agreement To Exclude Security Of Tenure
A Philippine law-compliant agreement that establishes fixed-term employment by excluding security of tenure provisions, subject to Labor Code requirements.
Download
Security Agreement Contract
A Philippine law-governed agreement creating security interests over collateral to secure obligations, complying with the Personal Property Security Act.
Download
Stock Collateral Loan Agreement
A Philippine law-governed agreement establishing terms for a loan secured by shares of stock, including collateral arrangements and enforcement mechanisms.
Download
Stock Pledge And Security Agreement
A Philippine law-governed agreement creating a security interest over shares of stock as collateral for securing obligations.
Download
Tri Party Collateral Agreement
A Philippine law-governed agreement establishing arrangements between three parties for the management and custody of collateral assets.
Download
Purchase Money Security Agreement
A Philippine law-governed agreement creating a security interest in purchased property, establishing purchase terms and secured party's rights under the Personal Property Security Act.
Download
Loan Against Shares Agreement
A Philippine law-governed agreement establishing terms for a loan secured by shares as collateral, detailing pledge arrangements and security mechanisms.
Download
Note And Security Agreement
A Philippine law-governed agreement combining loan terms and security arrangements, establishing both debt obligations and collateral rights.
Download
Debenture Trustee Agreement
A Philippine law-governed agreement appointing and establishing the duties of a trustee to protect debenture holders' interests in a debenture issuance.
Download
Irrevocable Pledge Agreement
A Philippine law-governed security agreement creating an irrevocable pledge over specific assets as collateral for securing obligations.
Download
Guaranty And Security Agreement
A Philippine law-governed agreement combining a personal guarantee with security interests in collateral to secure obligations, subject to local secured transactions laws.
Download
Global Master Repurchase Agreement
A master agreement for repurchase transactions in the Philippines, compliant with BSP and SEC regulations, governing securities financing between financial institutions.
Download
Equipment Security Agreement
A Philippine law-governed agreement creating security interests in equipment as collateral for loans or obligations, regulated under the Personal Property Security Act.
Download
Auto Loan Security Agreement
A Philippine law-governed agreement creating a security interest in a financed vehicle, establishing loan terms and collateral arrangements under local banking and consumer protection regulations.
Download
Personal Security Agreement
A legally-binding agreement under Philippine law that establishes terms and conditions for security service provision, ensuring compliance with RA 5487 and related regulations.
Download
Omnibus Loan And Security Agreement
A Philippine law-governed agreement combining multiple loan facilities and security arrangements into a single comprehensive financing document.
Download
Collateral Account Control Agreement
A Philippine law-governed agreement establishing control over a bank account as collateral security between an account holder, secured party, and deposit bank.
Download
Collateral Account Agreement
A Philippine law-governed agreement establishing security over a bank account and its contents, setting out control and enforcement rights.
Download
Chattel Security Agreement
A Philippine law-governed agreement creating security interests in personal property (chattel) to secure obligations, regulated under the Personal Property Security Act.
Download
Account Control Agreement Collateral
A Philippine law-governed tripartite agreement establishing control over deposit accounts as collateral security, enabling perfection of security interests under local law.
Download
Retail Installment Contract And Security Agreement
A Philippine law-governed agreement combining retail installment sales terms with security provisions for consumer goods purchases, ensuring seller protection and compliance with local consumer protection laws.
Download
Subordinated Creditors Security Agreement
A Philippine law-governed agreement establishing security interests and creditor priorities in secured financing arrangements, regulating relationships between senior and subordinated creditors.
Download
Personal Loan Contract With Collateral
A Philippine law-governed agreement establishing terms for a personal loan secured by collateral, including security interest provisions and regulatory compliance requirements.
Download
Shareholder Agreement Transfer Of Shares
A Philippine law-governed agreement documenting the transfer of shares between shareholders, setting out terms, conditions, and regulatory compliance requirements.
Download
Stock Transfer Restriction Agreement
A Philippine law-governed agreement that establishes restrictions and procedures for corporate share transfers, protecting existing shareholders' interests and maintaining ownership control.
Download
Third Party Collateral Agreement
A Philippine law-governed agreement where a third party provides their assets as collateral to secure another party's obligations to a creditor.
Download
Security Control Agreement
A Philippine-law governed agreement establishing security control measures and compliance requirements, ensuring alignment with local data protection and cybersecurity regulations.
Download
Key Holding Agreement
A Philippine-compliant agreement establishing terms for professional key custody services, including security protocols and liability arrangements.
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)