Equipment Purchase Agreement Template

This Equipment Purchase Agreement (“Agreement”) is entered into on [Date], by and between:

Seller: [Full Legal Name / Company Name]
Address: [Address]
Contact: [Phone, Email]

Buyer: [Full Legal Name / Company Name]
Address: [Address]
Contact: [Phone, Email]

Together referred to as the “Parties.”

1. Equipment Description

The Seller agrees to sell and the Buyer agrees to purchase the following equipment:
[List detailed description, including make, model, serial number, condition, and quantity].

2. Purchase Price and Payment Terms

• Total Purchase Price: $[Amount].

• Payment Schedule: [Deposit of $X due on signing, balance due on delivery].

• Payment Method: [Wire transfer / Check / Other].

• Late Payment: [X]% interest per month on overdue amounts.

3. Delivery and Transfer of Title

• Delivery Date: [Date].

• Delivery Location: [Location].

• Risk of loss passes to Buyer upon [delivery / installation].

• Title transfers upon receipt of full payment.

4. Inspection and Acceptance

• Buyer shall have [X] days to inspect the equipment after delivery.

• If the equipment fails to meet specifications, Buyer may reject it by providing written notice within the inspection period.

5. Warranties

• Seller warrants that it has good and marketable title to the equipment, free of liens and encumbrances.

• Additional warranties: [e.g., equipment free from defects for X months].

• Disclaimer: Except as stated, the equipment is sold “as-is.”

6. Representations of the Buyer

The Buyer represents that it has reviewed the equipment specifications and is financially capable of completing the purchase.

7. Taxes and Fees

Buyer shall be responsible for all applicable taxes, duties, and registration fees related to the purchase.

8. Indemnification

Each Party agrees to indemnify and hold harmless the other from any claims, damages, or liabilities arising from their respective breaches of this Agreement.

9. Default and Remedies

If either Party fails to perform its obligations, the non-defaulting Party may seek remedies including termination, damages, or specific performance.

10. Governing Law

This Agreement shall be governed by the laws of [State/Country].

11. Entire Agreement

This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements.

12. Signatures

Seller: ____________________________ Date: _________
Name/Title: _________________________________________

Buyer: ____________________________ Date: _________
Name/Title: _________________________________________