One of the common features of these orders is that the owner remains in possession and exercises all the property rights therein, which can be so overwhelming that a third party accepts the same property as collateral for a grant, but without informing the first borrower. This scenario has made the sales contract a real instrument of fraud. Your contracts should always include your payment terms, including the due date of payment by the customer and the methods they can use to make the payment, such as cash, checks, and credit cards. If your company is constantly working with clients you work for every month, you can consider a retainer agreement that allows you to bill them for your services each month without the need for a new contract each time. An example of a conditional sales contract may be obtained where a creditor has granted a loan and has claimed ownership of the goods or other personal property of the debtor as security or security for the loan. However, the physical goods or any other property remain in the hands of the debtor. Going back to our example, when the seller delivers the industrial-grade freezer to the buyer, the seller executes a sales contract to transfer ownership to the buyer. In this way, the sales contract is a kind of receipt, which allows the buyer to prove the ownership of the freezer if ever there is a question. While a sales contract is used before the exchange of goods, a sales contract is used during or after the exchange of goods to transfer ownership of the goods from the seller to the buyer….