International Sales Contract

• Legally, there are four basic elements of a sales contract.
  • What is being sold.
    • Description of each item.
  • At what price.
    • Unit and total price.
    • Clearly specify the currency.
  • In what quantity.
  • Of what quality.
    • New, used, premium, standard, etc.

• You may write up a formal contract of sale, or you may use:
  • A purchase order signed by the buyer.
  • An order acknowledgment countersigned by the buyer.
  • A pro forma invoice.

• International trade law governing sales contracts is under the auspices of the United Nations Commission On International Trade Law.

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© 2004 John Michael Pierobon

Notes