Credit Sales Agreement Definition

Another way to protect a seller is the inclusion of a retention of title clause in the credit purchase agreement. This clause, also known as the «Romalpa» clause, allows a buyer to own the goods, but only acquire ownership from the seller when the final purchase price is paid. (f) the purchaser shall without delay, at the request of the retailer, obtain from any person whom the retailer considers relevant to his or her safety position, agreements and waivers (including the above-mentioned equivalent declarations) which the retailer may require at any time; As part of a credit sales agreement, you buy the goods at the cash price. You normally have to pay interest, but some providers offer interest-free credit. The refund is made in instalments until you have paid the full amount. This commercial debt is repayable in accordance with the terms of payment of the contract. . . .

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