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Installment Plan Agreement
"I need an Installment Plan Agreement for the sale of industrial machinery worth €75,000, with monthly payments over 24 months starting March 2025, including retention of title and mandatory insurance requirements for the equipment during the payment period."
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You keep IP ownership of your information
1. Parties: Identification of the seller/creditor and buyer/debtor, including full legal names, addresses, and registration details if applicable
2. Background: Context of the agreement and brief description of the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Object of Purchase: Detailed description of the goods or services being purchased under the installment plan
5. Purchase Price and Payment Terms: Total purchase price, down payment, number of installments, installment amounts, and payment dates
6. Interest and Additional Costs: Interest rate (effective annual rate), processing fees, and total amount payable
7. Payment Method: Accepted payment methods and payment processing details
8. Delivery Terms: Conditions and timing of delivery of goods or services
9. Retention of Title: Seller's retention of ownership until full payment (Eigentumsvorbehalt)
10. Default and Late Payment: Consequences of missed payments and default procedures
11. Right of Withdrawal: Consumer's right to withdraw from the contract within 14 days (Widerrufsrecht)
12. Term and Termination: Duration of the agreement and conditions for early termination
13. Final Provisions: Governing law, jurisdiction, written form requirement, and severability clause
1. Insurance Requirements: Required when the purchased item needs specific insurance coverage during the installment period
2. Security Interests: Used when additional collateral or security is required beyond retention of title
3. Third-Party Financing: Required when a financial institution is involved in providing the installment plan
4. Early Payment Provisions: Details of early payment options and any associated discounts or penalties
5. Usage Restrictions: Needed when there are specific restrictions on the use of goods during the payment period
6. Maintenance Requirements: Required for goods that need specific maintenance during the payment period
7. Assignment Rights: Used when either party needs the right to assign the agreement to third parties
1. Payment Schedule: Detailed breakdown of all installment payments, including dates, amounts, and running balance
2. Product Specifications: Detailed technical specifications or description of the purchased items
3. Withdrawal Form: Standard form for exercising the right of withdrawal (Widerrufsformular)
4. Pre-contractual Information: Mandatory pre-contractual information as required by German consumer credit law
5. SEPA Direct Debit Mandate: If applicable, authorization for direct debit payments
6. Interest Calculation: Detailed breakdown of interest calculations and effective annual rate
Authors
Annual Percentage Rate (Effektiver Jahreszins)
Business Day (Werktag)
Buyer (Käufer)
Collateral (Sicherheiten)
Default (Verzug)
Delivery Date
Down Payment (Anzahlung)
Due Date (Fälligkeitsdatum)
Early Repayment (Vorzeitige Rückzahlung)
Effective Date (Vertragsbeginn)
Goods (Ware)
Installment (Rate)
Installment Period
Interest Rate (Zinssatz)
Late Payment Fee (Verzugszins)
Payment Date (Zahlungstermin)
Payment Schedule (Zahlungsplan)
Place of Delivery (Lieferort)
Purchase Price (Kaufpreis)
Retention of Title (Eigentumsvorbehalt)
Right of Withdrawal (Widerrufsrecht)
Seller (Verkäufer)
Total Amount Payable (Gesamtbetrag)
Withdrawal Period (Widerrufsfrist)
Recitals
Definitions
Object of Purchase
Purchase Price
Payment Terms
Installment Schedule
Interest Rate
Default Interest
Late Payment
Retention of Title
Delivery
Transfer of Risk
Right of Withdrawal
Pre-contractual Information
Consumer Rights
Security Interest
Insurance
Early Termination
Default Remedies
Assignment
Force Majeure
Notices
Data Protection
Dispute Resolution
Governing Law
Jurisdiction
Severability
Entire Agreement
Amendments
Language
Counterparts
Retail
Automotive
Consumer Electronics
Furniture and Home Furnishings
Manufacturing Equipment
Home Improvement
Luxury Goods
Medical Equipment
Agricultural Equipment
Industrial Machinery
Legal
Finance
Sales
Compliance
Risk Management
Customer Service
Credit Control
Commercial Operations
Contract Administration
Account Management
Legal Counsel
Finance Manager
Credit Manager
Sales Director
Retail Manager
Compliance Officer
Contract Administrator
Consumer Finance Specialist
Risk Manager
Commercial Director
Customer Service Manager
Account Manager
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