Conditional Sale Agreement
This Conditional Sale Agreement outlines the terms for a buyer to purchase an item from a seller, where the transfer of title is contingent upon the buyer making all required payments. It details the sales price, applicable taxes, finance charges, and payment schedule, including a down payment and installments. The agreement also specifies that the full balance becomes due if payments default for a certain period, making the buyer responsible for the seller's legal fees.
Conditional Sale Agreement
The undersigned, herein known as the Buyer, agrees to purchase from [name], herein known as the Seller, the following:
[description of what the buyer will purchase]
Payment of said item(s) will be as follows:
Sales price |
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Applicable taxes |
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Finance charges |
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Insurance |
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Additional charges |
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Purchase total |
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Buyer agrees to pay a down payment of [amount].
Buyer will finance [amount], which will be charged a [number] percent annual interest rate.
The amount finance will be paid in [number] installments of [amount]. Final payment will be on or before [date].
The Buyer will only receive the title to the purchased property upon the final payment.
If payments go into default for more than [number] days, the full balance shall become due. Buyer will be responsible for Seller's legal fees in this situation.
Buyer and Seller freely and willingly enter into this agreement this [date] day of [month], [year].
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[seller printed name] |
| [seller signature] |
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[buyer printed name] |
| [buyer signature] |
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