Purchase Agreement

Purchase agreements are used to record the important terms of transactions for the sale of goods. They are legally binding contracts between a buyer and seller that ensures each party holds up their end of the agreement.

A purchase agreement identifies the goods promised, the purchase price, the payment method, the delivery information, and more. If the goods are delivered late or have other issues, the agreement will hold the seller accountable and will ensure that the buyer is compensated for any losses or damages sustained. Typically, the parties then complete a bill of sale to show the transfer of title at the time of delivery.

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