Sales Agreement (Germany)

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A Sales Agreement (or Sales Contract) is similar to a Bill of Sale and is used to document the sale of an item (usually over $500) and transfer its title from the seller to the buyer. A Sales Agreement may be used for a variety of items such as cars, watercraft, services, assets, etc. A Sales Agreement CANNOT be used to sell real estate, shares, or stocks. As compared to a Bill of Sale, a Sales Agreement is more appropriate for ongoing transactions or for transactions involving services as well as physical items. A Bill of Sale is more commonly used for a single transaction of a physical piece of property.

A Sales Agreement normally contains several pieces of information:

  1. The full name and contact information of the buyer and seller (either the individual or company)
  2. A statement to the effect that the seller is transferring the property or service to the buyer
  3. A detailed description of what is being sold, including any makes, models, serial numbers, registration numbers, or other descriptors. If a service is being exchanged, it is important to outline exactly what services are included and excluded
  4. Quantity of payment being exchanged, type of currency, and how payment will occur
  5. Time and location at which payment will occur
  6. Which party will deliver the goods, and the date, place, and time of delivery
  7. Which party shall bear responsibility should the product become damaged during transport
  8. Any warranty or guarantee about the condition of the item; also, warranties that the item is legally owned and free from liens/encumbrances
  9. A statement about whether the buyer has had the opportunity to inspect the goods prior to taking possession
  10. Additional clauses outlining the governing jurisdiction, specifying how to make changes to the document, etc.

For more information about Sales Agreements, what they should contain, and to access a customizable Sales Agreement form, see below.

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