What to Know About Sales Contracts
If you're selling goods to someone else, especially if they're big-ticket items or you're selling a large quantity of them in bulk, it's very important to have a sales contract. These kinds of contracts are also good choices for people who sell a lot of different things.Download Template
If you have a sales contract template, you can fill in the details for each individual sale, but not have to make many (or possibly not any) adjustments to the rest of the contract. That can make things easier for your business.
Here's what to consider, when you're setting up and using a sales contract template.
When you have a good template for your sales contract, you don't need to worry about the contract itself. The only things you need to concern yourself with are the details and specifics of that particular contract. In this article, we will cover information about:
- Important Clauses in the Sales Contract
- The Best Practices for Sales Contracts
- Tips for Creating a Secure Sales Contract
- Advice on Thorough Sales Contracts
- Key Sales Contract Considerations
- Related Sources for More Information
The Most Important Clauses in Sales Contracts
When you're using sales contracts, there are some clauses you definitely don't want to leave out. Keep in mind that most of the same clauses can be used, no matter what kinds of goods you're selling. But there could be some small changes needed, so make sure you have a sales contract template that allows you that freedom.
- Goods to be Delivered — This should spell out the goods the buyer will be receiving.
- Price and Payment Terms — How much the buyer will pay, when, and through what method all matter.
- Shipping and Delivery — The way the buyer will receive the goods is very important.
- Warranties and Remedies — Both your company and the buyer should know what is covered and how to seek assistance if the contract isn't fulfilled by the other party.
When you focus on accuracy in those clauses, you can have much more confidence in the sales contract you present to the buyer of your goods.
The Best Practices for Sales Contracts
A sales contract template is going to give you the "boilerplate" language you need to cover a lot of the legal concerns you and your buy may have. That makes it easier for both of you to feel secure, but it's not the only thing you need to think about. Other best practices for your sales contract include:
- Not changing any of the terms your buyer has already agreed to.
- Making sure the contract is fully complete before the buyer is asked to sign it.
- Ensuring that you highlight any changes for the buyer's approval.
- Clearly spelling out the specifics re: quantity, quality, and terms.
The buyer should have a pretty good idea of what the sales contract will say, and they don't want to feel like the agreement was changed at the last minute. When you're upfront with them, they'll have more confidence in your company and the goods they're buying from you.
Tips for a Secure Sales Contract
To make sure your sales contract has the level of security your buyer expects, send it electronically. It can be signed online, for ease and convenience. When you use Nitro Sign to get your sales contracts and important documents signed, you're showing your buyer that you value their security. Also set a time limit for signing, so you can get your goods shipped to the buyer promptly.
Advice When Using a Sales Contract
A sales contract can be pretty standard, in many ways. Selling goods is selling goods, no matter the type or quantity of those goods. But there will be nuances and details that go along with each sale. Having a sales contract template is the way to address that issue, so you can use standard language, protect yourself legally, and just fill out the specifics each time you make a sale.
Key Considerations With a Sales Contract
Important considerations with any sales contract involve:
- Clarity, so everyone understands the transaction.
- Timeliness, to handle shipping and payment.
- Protection from any legal concerns.
- Security for the buyer and your business.
- Attention to detail, so everyone receives what's expected.
With a good sales contract, your business can protect itself and also do its best to keep buyers happy with the goods they receive and the way the transaction is handled.
Resources for More Information
To learn more about sales contracts, here are some resources to consider.