The Sale Agreement Without Possession is specifically designed for transactions under Singapore law where immediate physical transfer of goods is not practical or desired. This contract type is particularly useful in international trade, commodity trading, and situations where goods are in transit or storage. The agreement covers essential elements including title transfer, risk allocation, warranties, and future delivery arrangements, while complying with Singapore's Sale of Goods Act and related commercial legislation. It provides legal certainty for both parties while acknowledging the practical reality of delayed possession.
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1. Parties: Identification and details of the seller and buyer
2. Background: Context of the sale and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of goods being sold
5. Purchase Price: Amount, payment terms, and method of payment
6. Title and Risk: Transfer of ownership and risk provisions
7. Warranties and Representations: Seller's warranties regarding goods and authority to sell
8. Governing Law: Specification of Singapore law as governing law
1. Conditions Precedent: Prerequisites to be met before sale completion - used when specific conditions must be satisfied before sale
2. Insurance: Insurance requirements for goods - used when valuable goods require insurance coverage
3. Inspection Rights: Buyer's rights to inspect goods - used when buyer needs verification of goods condition
4. Confidentiality: Non-disclosure obligations - used when transaction involves sensitive information
1. Schedule 1 - Goods Description: Detailed specifications of goods being sold
2. Schedule 2 - Payment Schedule: Detailed payment terms and installments if applicable
3. Schedule 3 - Warranties: Detailed warranties and representations
4. Appendix A - Documents of Title: Copies of relevant ownership documents
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