AGREEMENT FOR SALE OF GOODS
THIS
AGREEMENT made on this ......... day of ........,
between ......... a company incorporated under
the Companies Act, 1956 and having its registered
office at ........... (hereinafter referred to as
the SELLER, which expression shall, unless it be
repugnant to the context or meaning thereof, be
deemed to mean and include its successors and
assigns) of the ONE PART and ............ (give
name and description of the person or legal
entity) (hereinafter referred to as the BUYER
which expression shall, unless it be repugnant to
the context or meaning thereof, be deemed to mean
and include its successors and assigns) of the
OTHER PART.
WHEREAS
the Seller is a manufacturer of ___
WHEREAS
the buyer is a trader and has approached the
Seller to sell the goods at the rate of __per
unit/ Kilo.
THE
PARTIES HERETO agree to abide as under:
1 The Seller
undertakes to sell the Buyer and the Buyer
undertakes to buy from
Seller……….(hereinafter called the
'said goods') at a a price of
C.I.F……..shipment.
2 The Seller will
send the said goods through the designated ship
the information of which ship and the date
of its arrival at the port of dispatch in India
shall be sent to the buyer.
3 The Seller shall
make an agreement with the master of the ship for
the transportation and delivery of the said goods
at the Indian port.
4 It shall be the
responsibility of the Buyer to have said goods
insured for their value upon the current
terms and make out an invoice.
5 It shall be the
responsibility of the Buyer to have letter of
credit through its banker which shall cover
the price of the goods, freight insurance and
other charges in favour of the Seller's
banker.
6 After the
shipment of the said goods the seller shall send
all the necessary documents including the
contract of a freightment, insurance policy,
invoice, bills of landing, etc., to its
banker at the Indian port.
7 The aforesaid
document shall b delivered to the Buyer banker's
against the encashment of the letter of
credit which shall, in turn, deliver the same to
the Buyer to enable him to get the goods
cleared at the Indian port. Delivery of the
documents shall constitute the delivery of
goods and henceforth the goods shall be at the
risk of the Buyer.
8 It shall be the
responsibility are to be Buyer to open a letter
of credit with his banker in favour of the
Seller's banker. The Buyer's bankers shall credit
the amount of price in the Seller's name
with Seller's banker against the receipt of the
document of title.
9 In case some
formalities are to be completed prior to the
import of the aforesaid goods at the place
of destination the same shall be completed by the
Buyer at his own costs.
10 If some export
formalities are to be completed for the export of
the aforesaid goods from the place of
dispatch, the same shall be completed by the
Buyer/Seller at his own costs.
11 It shall be the
Buyer's right to examine the goods for his
satisfaction at the point of destination.
If the goods are not according to the sample or
specification the Buyer shall have the
right the reject the goods at the risk and cost
of the seller.
12 In case any
dispute arises out of this agreement between the
parties, the same shall be referred to the
arbitration under the Arbitration and
Conciliation Act, 1996. The venue for the
arbitration shall be Kolkata.
13.The governing law of this will be the laws
of the Republic India.
- SIGNED,
SEALED AND DELIVERED
- by the within
named Seller by the hands
- of its
authorised representative/Director
- Mr. ___in the
presence of Mr.___ and
- Mr.___
- SIGNED, SEALED AND DELIVERED
- by the withinnamed Buyer by
the hands of its
- authorised
representative/Director Mr.___,
- in the presence of Mr. ___
and Mr. ___
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