Canadian Sales Agreement

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Parties
Goods Details
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Purchase Price & Deposit

What is the total purchase price, including sales tax?

Will the buyer put down a deposit?

Yes No

How much is the deposit?

Deposit amount:

When must the deposit be paid?

Due Date:

Will the buyer get the deposit back if the transaction is not completed?

Yes No

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Payment Type & Details

Will the buyer pay in one lump sum or installments?

Lump sum Installments

Have you already created a loan agreement or promissory note?

Yes No

Would you like the installments to occur on a regular schedule, or be triggered by milestones?

Regular payment schedule Milestone events

How often will the buyer make payments?

Frequency: e.g.(On the 25th and 30th of every month)

How much is each payment?

Payment:

When is the first payment due?

What is the milestone and how much will be paid?

Milestone

e.g.(25% due upon delivery of materials)

Remove

Add another milestone

Will interest be charged if the buyer fails to make a payment?

Yes No

The interest rate will be % compounded yearly.

How will the buyer pay?

Cash

Cashier Check

Bank Draft

Promissory Note

E-transfer

Other

Payment Type:

When will the seller be paid?

When the buyer receives the goods

When the goods are delivered to the shipping company

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Delivery Details

When will the goods be delivered?

Unsure

Specify date

Specify a delivery date:

Where will the goods be delivered?

Buyer's address

Seller's address

Other

Specify a delivery location: (e.g. Unit, Street, City, Province, Postal Code)

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Liability Details & Assignment of Sales Agreement

When will the buyer become responsible for lost or damaged goods?

When the buyer receives the goods

When the goods are delivered to the shipping carrier

Will the buyer be allowed to assign this contract to a third party?

Yes No

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Warranties

Will the seller make any guarantees about the goods?

Yes No

The seller warranties that:

The goods are fit for ordinary use The seller owns the goods There are no claims or loans against the goods The goods do not infringe any patents or trademarks

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Dispute Resolution

How do you want disputes to be settled?

Mediation

Arbitration

Mediation then Arbitration

Do not specify

Do not specify costs will be paid by:

Both equally

Buyer

Seller

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Frequently Asked Questions

What is a deposit?

What is a deposit?

A deposit is a financial term that has multiple definitions. The first definition is a transaction involving a transfer of funds to another party for safekeeping. The second definition is a portion of funds that is used as security or collateral for the delivery of a good.

What happens when a agreement is assigned to a third party?

What happens when a agreement is assigned to a third party?

The buyer or seller may assign any benefits they will receive under the contract to a third party although they are still bound to fulfill the original agreement.

What is the difference between mediation and arbitration?

What is the difference between mediation and arbitration?

Arbitration is like the court process as parties still provide testimony and give evidence similar to a trial but it is usually less formal. In mediation, the process is a negotiation with the assistance of a neutral third party. The parties do not reach a resolution unless all sides agree