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Forward Sale Contract
"I need a Forward Sale Contract governed by Belgian law for the sale of industrial machinery, with delivery scheduled for March 2025, including specific quality testing requirements and a bank guarantee provision."
1. Parties: Identification and details of the seller and buyer, including full legal names, registration numbers, and registered addresses
2. Background: Context of the forward sale agreement, including the nature of the goods/assets being sold and the general commercial purpose
3. Definitions: Definitions of key terms used throughout the agreement, including specific industry terminology related to the forward sale
4. Subject Matter of Sale: Detailed description of the goods/assets being sold forward, including specifications, quantity, and quality requirements
5. Delivery Terms: Specific provisions regarding the time, place, and method of delivery, including any Incoterms if applicable
6. Price and Payment Terms: Purchase price, payment schedule, method of payment, and any adjustments or variable pricing mechanisms
7. Quality and Inspection: Quality standards, inspection procedures, and acceptance criteria for the goods/assets
8. Risk and Title: Transfer of risk and title provisions, including any retention of title clauses
9. Representations and Warranties: Standard and specific warranties regarding the goods/assets, capacity to contract, and other relevant assurances
10. Force Majeure: Provisions dealing with events beyond parties' control that may affect contract performance
11. Default and Termination: Events of default, remedies, and termination provisions
12. Governing Law and Jurisdiction: Confirmation of Belgian law as governing law and jurisdiction provisions
13. General Provisions: Standard boilerplate clauses including notices, amendments, assignment, and entire agreement provisions
1. Price Adjustment Mechanism: Detailed provisions for adjusting the price based on market conditions or other variables - include when dealing with commodities or long-term contracts
2. Storage and Warehousing: Provisions regarding storage of goods before delivery - include when dealing with physical goods requiring storage
3. Insurance: Specific insurance requirements - include when dealing with high-value goods or extended storage periods
4. Performance Security: Requirements for bank guarantees or other security - include when there are concerns about counterparty performance
5. Regulatory Compliance: Specific regulatory requirements - include when dealing with regulated goods or sectors
6. Intellectual Property: IP-related provisions - include when the forward sale involves branded goods or technology
7. Confidentiality: Detailed confidentiality provisions - include when dealing with sensitive commercial information
8. Tax Provisions: Specific tax-related provisions - include when tax implications are significant or complex
1. Schedule 1 - Product Specifications: Detailed technical specifications of the goods/assets being sold
2. Schedule 2 - Delivery Schedule: Detailed timeline of deliveries including quantities and dates
3. Schedule 3 - Price Calculation: Detailed pricing formula or calculation method if price is variable
4. Schedule 4 - Quality Standards: Detailed quality requirements and testing procedures
5. Schedule 5 - Form of Notice: Standard forms for various notices under the contract
6. Appendix A - Required Certifications: Copies or details of required certifications or permits
7. Appendix B - Storage Requirements: Technical requirements for storage if applicable
Authors
Applicable Law
Business Day
Buyer
Commencement Date
Confidential Information
Contract Price
Default Event
Delivery Date
Delivery Location
Delivery Schedule
Force Majeure Event
Forward Price
Goods
Incoterms
Initial Payment
Inspection Period
Payment Date
Performance Security
Product Specifications
Purchase Price
Quality Standards
Quantity
Retention of Title
Seller
Specification
Storage Location
Term
Title
Transfer Date
Working Day
Definitions and Interpretation
Subject Matter of Sale
Price and Payment
Delivery Terms
Title and Risk
Quality and Specifications
Inspection and Testing
Storage and Warehousing
Force Majeure
Representations and Warranties
Insurance
Default and Remedies
Termination
Performance Security
Assignment and Transfer
Confidentiality
Notices
Governing Law and Jurisdiction
Dispute Resolution
Amendments
Severability
Waiver
Entire Agreement
Counterparts
Language
Agriculture and Food
Energy and Commodities
Manufacturing
Mining and Metals
Chemical Industry
Textiles
Construction Materials
Industrial Equipment
Technology Hardware
Renewable Energy
Legal
Procurement
Sales
Commercial
Supply Chain
Risk Management
Operations
Trading
Logistics
Finance
Compliance
Commercial Director
Procurement Manager
Sales Manager
Contract Manager
Legal Counsel
Supply Chain Manager
Trading Manager
Risk Manager
Operations Director
Chief Commercial Officer
Business Development Manager
Logistics Manager
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