The Forward Sale Contract is essential for businesses engaging in future-dated transactions where goods are to be delivered at a later date for a price fixed at present. This document type is particularly crucial in Indian commercial transactions where parties seek to lock in prices and ensure supply security while managing market volatility. It incorporates key elements required under Indian contract law, including detailed specifications about the goods, delivery terms, quality parameters, and payment mechanisms. The agreement is structured to comply with multiple Indian legislative frameworks, particularly the Indian Contract Act 1872, Sale of Goods Act 1930, and Forward Contracts (Regulation) Act 1952. It's commonly used in commodity trading, manufacturing, and agricultural sectors where advance planning and price certainty are crucial for business operations.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification and details of the seller and buyer, including registered addresses and company registration numbers
2. Background: Context of the forward sale agreement, including the nature of goods/commodities being sold
3. Definitions: Key terms used throughout the agreement, including technical terms, payment terms, and delivery-related definitions
4. Subject Matter of Sale: Detailed description of the goods/commodities being sold, including specifications, quantity, and quality parameters
5. Price and Payment Terms: Forward sale price, payment schedule, method of payment, and any advance payments required
6. Delivery Terms: Delivery schedule, location, method, and conditions for delivery of the goods
7. Quality Specifications: Detailed quality parameters, testing procedures, and acceptance criteria
8. Risk and Title: Transfer of risk and ownership provisions, including insurance requirements
9. Representations and Warranties: Statements and guarantees made by both parties regarding their capacity, authority, and the goods
10. Events of Default: Circumstances constituting default and consequences thereof
11. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
12. Dispute Resolution: Mechanism for resolving disputes, including jurisdiction and governing law
13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Performance Security: Required when additional financial security is needed, specifying bank guarantees or other security instruments
2. Price Adjustment Mechanism: Used when parties agree to adjust prices based on market conditions or specific indices
3. Storage and Warehousing: Needed when the goods require storage before delivery
4. Quality Certification: Required when third-party quality certification is necessary
5. Export/Import Provisions: Included for international forward sale contracts
6. Regulatory Compliance: Required when dealing with regulated commodities or specific industry requirements
7. Hedging Obligations: Included when parties agree to specific hedging requirements
8. Sustainability Requirements: Used when environmental or sustainability standards must be met
1. Product Specifications: Detailed technical specifications of the goods/commodities
2. Delivery Schedule: Detailed timeline of deliveries including quantities and locations
3. Price Calculation: Formula or mechanism for price calculation if applicable
4. Quality Testing Procedures: Detailed procedures for quality testing and acceptance
5. Required Certifications: List of required certificates and compliance documents
6. Key Personnel: Contact details of key personnel responsible for contract execution
7. Form of Performance Security: Template for bank guarantee or other security instruments
8. Standard Operating Procedures: Procedures for delivery, acceptance, and dispute handling
Authors
Relevant legal definitions
Clauses
Relevant Industries
Agriculture
Manufacturing
Mining
Commodities Trading
Textiles
Energy
Metals and Minerals
Chemical Industry
Food Processing
International Trade
Relevant Teams
Legal
Procurement
Sales
Commercial
Risk Management
Supply Chain
Operations
Finance
Compliance
Trading
Relevant Roles
Commercial Director
Procurement Manager
Sales Manager
Contract Administrator
Legal Counsel
Risk Manager
Supply Chain Manager
Trading Manager
Operations Director
Finance Manager
Compliance Officer
Business Development Manager
Find the exact document you need
Land For Sale Land Contract
An Indian law-governed agreement for the sale and transfer of land property, detailing terms of sale, property specifications, and transfer conditions.
find out more
Deed Of Sale For Property
A legally binding document under Indian law that transfers property ownership from seller to buyer, requiring official registration and stamp duty payment.
find out more
Contract Of Sale Of Immovable Property
An Indian law-governed agreement documenting the sale and transfer of immovable property between parties, requiring official registration.
find out more
Agreement For Sale Of Flat In Co Operative Housing Society
An Indian legal agreement for the sale and transfer of flat ownership and membership rights in a cooperative housing society, compliant with Indian property and cooperative society laws.
find out more
Agreement Between Buyer And Seller Of Goods
An Indian law-governed agreement establishing terms and conditions for the sale and purchase of goods between parties, aligned with the Sale of Goods Act and Contract Act.
find out more
Sales Agreement Between Two Parties
An Indian law-governed agreement establishing terms and conditions for the sale of goods between two parties, ensuring legal compliance and protecting both parties' interests.
find out more
Sale Agreement Of Immovable Property
An Indian law-compliant agreement documenting the terms and conditions for the sale and transfer of immovable property between parties.
find out more
Contract To Sell
An Indian law-governed agreement establishing future sale obligations between parties, with terms for property/asset transfer and payment conditions.
find out more
Farm Purchase Agreement
An Indian law-governed agreement for the purchase and sale of agricultural land, ensuring compliance with agricultural laws and land regulations.
find out more
Sales Employee Contract
An Indian law-governed employment contract for sales professionals defining employment terms, compensation structure, and sales-related obligations.
find out more
Harmless Agreement
An Indian law-governed agreement where one party agrees to protect another from liability for specific risks and losses, structured under the Indian Contract Act, 1872.
find out more
For Sale By Owner Purchase Contract
An Indian legal document for direct property sales between seller and buyer without real estate agent involvement, compliant with Indian property laws.
find out more
Form For Sale Of Vehicle
A standardized agreement for vehicle sale and ownership transfer in India, compliant with the Motor Vehicles Act and state regulations.
find out more
Used Equipment Sales Agreement
An Indian law-governed agreement for the sale and purchase of used equipment, covering equipment condition, warranties, and transfer of ownership.
find out more
Product Contract
An Indian law-governed agreement establishing terms and conditions for product sale and purchase, including specifications, pricing, and delivery terms.
find out more
Business Buy Sell Agreement
An Indian law-governed agreement detailing terms and conditions for the sale and purchase of a business enterprise, including price, warranties, and completion mechanics.
find out more
Vehicle Purchase Form
An Indian law-compliant document that formalizes vehicle purchase transactions and ownership transfer, adhering to the Motor Vehicles Act and state regulations.
find out more
Lease To Purchase Contract
An Indian law-governed agreement combining property lease terms with a future purchase option, ensuring compliance with national and state property laws.
find out more
Registered Lease Deed
A legally binding and registered document under Indian law that establishes the terms and conditions for leasing property between landlord and tenant.
find out more
Deed Of Sale Condominium
A legal instrument under Indian law that transfers ownership of a condominium unit from seller to buyer, including rights to common areas and society membership.
find out more
Definitive Purchase Agreement
An Indian law-governed agreement detailing the final terms and conditions for the purchase and sale of assets, goods, or business interests.
find out more
Sales Agency Agreement
An Indian law-governed agreement establishing terms between a principal company and sales agent, including territory rights, commissions, and mutual obligations.
find out more
Furniture Sale Agreement
An Indian law-governed agreement setting out terms and conditions for furniture sale and purchase, including specifications, pricing, delivery, and warranty terms.
find out more
Sales Rep Contract
An Indian law-governed agreement establishing terms between a company and sales representative, covering appointment, duties, compensation, and obligations.
find out more
Export Sale Contract
An Indian law-governed contract establishing terms for international sale and export of goods from India to foreign buyers, incorporating both domestic and international trade requirements.
find out more
Deed Of Sale Motor Vehicle
An Indian law-compliant deed that documents the transfer of ownership of a motor vehicle between parties, including sale terms and vehicle specifications.
find out more
Contract To Sell Motor Vehicle
An Indian law-compliant agreement for the sale and transfer of ownership of a motor vehicle, detailing vehicle specifications, price, and transfer terms.
find out more
Sell By Owner Contract
An Indian legal document for direct property sales between seller and buyer without real estate agent involvement, governed by Indian property law.
find out more
Restaurant Sale Agreement
An Indian law-governed agreement for the transfer of restaurant business ownership, covering all assets, licenses, and operational rights from seller to buyer.
find out more
Manufactured Home Purchase Agreement
An Indian law-governed agreement for the purchase and sale of manufactured homes, covering sale terms, specifications, delivery, installation, and warranties.
find out more
Deed Of Sale With Assume Balance
An Indian legal document facilitating property sale where the buyer assumes the seller's existing loan balance, governed by Indian property and contract laws.
find out more
Deed Of Sale Of Motor Vehicle Form
An Indian legal document that formalizes the transfer of ownership of a motor vehicle between parties, complying with Motor Vehicles Act requirements.
find out more
Buy Sell Agreement For Small Business
An Indian law-governed agreement detailing the terms and conditions for the sale and purchase of a small business, including all essential transaction elements and regulatory compliance requirements.
find out more
Lease Option Property For Sale
An Indian law-governed agreement combining a property lease with an option to purchase, establishing terms for both leasing and the future sale of the property.
find out more
Simple Land Sale Agreement Word Document
An Indian law-compliant agreement documenting the terms and conditions for the sale and transfer of land ownership between parties.
find out more
Assignable Purchase And Sale Agreement
An Indian law-governed agreement for the sale and purchase of assets or property, featuring assignability rights for the purchaser.
find out more
Conditional Sales Purchase Agreement
An Indian law-governed agreement establishing a conditional sale where the seller retains title until specified conditions are met by the purchaser.
find out more
House For Sale On Contract
An Indian law-compliant agreement for the sale and purchase of residential property, detailing terms of transfer, payment, and obligations of parties involved.
find out more
Agreement For Sale Without Possession
An Indian legal document facilitating property sale while allowing the seller to retain physical possession, governed by Indian property law.
find out more
Flat Purchase Agreement
An Indian law-compliant agreement for the purchase and sale of residential flats/apartments, governed by RERA and property laws.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)