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Initial Contract Of Sale
"I need an Initial Contract of Sale for selling industrial machinery to a Singapore-based manufacturer, with specific requirements for installation, training, and a 12-month warranty period, to be delivered by March 2025."
1. Parties: Identification and details of seller and buyer
2. Background: Context and purpose of the sale
3. Definitions: Key terms used in the contract
4. Subject Matter: Description of goods being sold
5. Price and Payment: Purchase price, payment terms and method
6. Delivery: Delivery terms, timing, and location
7. Title and Risk: Transfer of ownership and risk provisions
8. Warranties: Standard warranties regarding goods
1. Inspection Rights: Buyer's rights to inspect goods - recommended for complex or high-value goods
2. Insurance: Insurance requirements during transit - recommended for international sales or high-value items
3. Intellectual Property: IP rights associated with goods - recommended for goods involving IP rights
4. Confidentiality: Protection of confidential information - recommended for sensitive commercial transactions
1. Schedule 1 - Specification of Goods: Detailed technical specifications
2. Schedule 2 - Price Breakdown: Detailed pricing information
3. Schedule 3 - Delivery Schedule: Detailed delivery timelines and locations
4. Appendix A - Quality Standards: Applicable quality standards and certifications
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