The Standard Contract of Sale is essential for businesses conducting sales transactions in Singapore. It provides a comprehensive framework compliant with Singapore's Sale of Goods Act and related commercial legislation. This document should be used when parties need to formalize the sale of goods, whether in single or recurring transactions. It includes crucial elements such as price, payment terms, delivery conditions, warranties, and risk transfer provisions. The contract's standardized nature makes it particularly suitable for regular commercial transactions while maintaining flexibility to accommodate specific requirements of different industries.
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1. Parties: Identification and details of buyer and seller
2. Background: Context and purpose of the sale agreement
3. Definitions: Key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of goods being sold
5. Price and Payment Terms: Purchase price, payment schedule, and method
6. Delivery Terms: Timing, location, and method of delivery
7. Title and Risk: Transfer of ownership and risk provisions
8. Warranties: Standard warranties regarding goods quality and condition
9. Termination: Conditions for contract termination
10. Governing Law: Singapore law provisions and jurisdiction
1. Inspection Rights: Buyer's rights to inspect goods before acceptance - recommended for high-value or specialized goods
2. Insurance: Insurance requirements during transit - recommended for international sales or high-value goods
3. Intellectual Property: IP rights and transfers - required when goods involve IP components
4. Confidentiality: Non-disclosure provisions - recommended for sensitive commercial transactions
1. Schedule 1: Goods Specification: Detailed technical specifications of goods
2. Schedule 2: Price List: Detailed pricing breakdown if multiple items
3. Schedule 3: Delivery Schedule: Detailed delivery timeline and locations
4. Appendix A: Quality Standards: Applicable quality standards and certifications
5. Appendix B: Warranty Terms: Detailed warranty conditions and procedures
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
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