Agreement For Sale Of Goods - Legal Draft

THIS

AGREEMENT made on this __________ day of __________, between XYZ 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 PQR (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 _______________ (Details of business)WHEREAS

the buyer is a trader and has approached the Seller asking him 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___________ goods

(hereinafter called the 'said goods') at a price of Rs. _____________.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 lading, etc., to

its banker at the Indian port.7. The aforesaid

document shall be 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 the 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 to reject the goods at the risk and cost of the

seller.12. In the event of any

dispute or difference between the parties hereto arising out of or in

connection with this deed of whatsoever nature the same shall be referred to

arbitration of a common arbitrator if agreed upon, failing which to two

Arbitrators one to be appointed by each party to the Arbitration. The said

Arbitrators shall appoint a presiding Arbitrator and the Arbitration shall be

governed by the Arbitration Act and Conciliation Act, 1996, or any statutory

modification thereof.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. ___)