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Goods Sale Or Return
1. Introduction. Agreement made [date] between [name],
with principal offices at [address] (Seller) and [name], with
principal offices at [address] (Buyer).
2. Sale. Seller will sell to Buyer goods of the following
description and quantity: [list of goods]. The price is ----------
dollars ($----------). The sale is made on a sale or return basis with a
view toward the resale of the goods by Buyer.
3. Delivery of Goods. Seller will deliver the goods to Buyer
on [date] at Buyer's premises located at [address].
4. Option to Return Goods. Buyer shall have [number] days
from the receipt of the goods to return the goods if they have not been
resold during that time, provided the goods are in their original
condition. This option to return is applicable to all the goods or any
commercial unit of the goods. If this option is terminated in accordance
with the provisions of Paragraph 5, the price shall be paid in full
immediately upon the termination of the option. If Buyer has exercised
its option to return only part of the goods, the price shall be reduced
in proportion to the amount of goods that are retained by Buyer.
5. Termination of Option to Return Goods. Buyer's option to
return all or part of the goods shall terminate upon the occurrence of
any of the following events:
a. Failure of Buyer to return the goods within the time set out in Paragraph 4
b. Change in the condition of the goods
c. Use of the goods by Buyer for any purpose other than their resale
d. Written notice by Buyer of its acceptance of the goods notwithstanding
its failure to resell the goods
6. Risk of Loss. The risk of loss during the period when the goods are
subject to the option of return shall be borne by the [party].
7. Return of Goods. If Buyer exercises its option to return
all or part of the goods, they shall be delivered to Seller at Seller's
warehouse located at [address], at Buyer's sole cost and expense.
8. Insurance. While the goods are in Buyer's possession
pending resale, and while the goods are in transit to Seller, should
Buyer exercise its option to return all or part of the goods, Buyer will
keep the goods insured against all foreseeable risks and shall name
Seller as a co-insured on all insurance policies. Buyer shall deliver a
certificate of insurance coverage to Seller prior to the delivery of the
goods to Buyer.
9. Return of Goods to Original Condition. If Buyer exercises
its option to return the goods, Seller is obliged to accept only goods
in their original condition and undamaged. Seller, at its option, may
accept goods that are not in their original condition and, in such
event, Seller my incur such reasonable expense as is necessary to return
the goods to their original condition. Buyer shall reimburse Seller for
those expenses immediately upon demand by Seller.
*** If Required By State Law ***
This Section for Notary:
State of _________
County of ________ [COUNTY]
On [DATE] before me, [NAME OF NOTARY], notary, personally appeared [NAME OF PERSON(S) INVOLVED], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
My commission expires: _____