A sales contract defines the terms of trade between buyer and seller. It protects both parties by specifying product, price, delivery, payment, and dispute resolution terms.
| Clause | Why It Matters |
|---|---|
| Incoterms 2020 | Defines risk transfer point, cost allocation, and obligations. The most critical clause. |
| Payment Terms | T/T is fastest but risky for buyer; L/C is secure but adds bank fees (1-3% of value). |
| Quality / Inspection | Third-party inspection protects buyer from receiving substandard goods. |
| Force Majeure | Protects both parties from liability during unforeseeable events beyond their control. |
| Dispute Resolution | Arbitration is preferred for international trade (faster, enforceable under NY Convention). |
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