LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

anant karnani (Propreitor)     27 September 2012

Agreement for selling machinery on installments

Dear Sir,

We are manufacterer of hydraulic machinery.

We have customer who wants to purchase a machinery from us.

He cannot pay the whole amount, but is ready to make an advance payment and balance on monthly installments for 2 years.

We want to know what sort of agreement is ideal for such sale proceedings?

If possibe, kindly provide format for the same.


Regards,

Anant Karnani



Learning

 2 Replies


(Guest)

Agreement on Hire-purchase basis will suit you the best.

anant karnani (Propreitor)     01 October 2012

Dear Mr. Dhingra,

Thanks for your reply.

There are two important aspects which we would like to be covered:

1. He should not be able to give back the machinery in any case.

2. He should not be able to sell the machinery without paying the installments

Are these two factors legally covered under the hire & purchase agreement?

Regards,

Anant


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register