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The Credit Sales Agreement is essential for businesses operating in Belgium that offer credit terms for the purchase of goods or services. This document is particularly relevant when transactions involve significant amounts or extended payment periods, requiring formal documentation of credit terms and security arrangements. The agreement must comply with Belgian law, including the Civil Code, Code of Economic Law, and relevant EU directives, particularly regarding consumer protection and credit regulations. It's commonly used in both B2B and B2C contexts, though requirements differ significantly between these applications. The document typically includes comprehensive details about payment schedules, interest calculations, security arrangements, and default provisions, while ensuring compliance with Belgian financial regulations and GDPR requirements.

1. Parties: Identification of the creditor/seller and debtor/buyer, including full legal names, registration numbers, and registered addresses

2. Background: Context of the agreement, relationship between parties, and purpose of the credit sale arrangement

3. Definitions: Defined terms used throughout the agreement, including financial terms, payment-related definitions, and other key concepts

4. Credit Amount and Purpose: Specification of the credit amount, purpose of the credit, and details of the goods/services being financed

5. Payment Terms: Details of payment schedule, installments, interest rates, and payment methods

6. Interest and Fees: Specification of interest calculation, applicable fees, charges, and costs

7. Security and Collateral: Details of any security interests, liens, or collateral arrangements

8. Representations and Warranties: Statements of fact and assurances from both parties regarding their capacity, authority, and financial condition

9. Covenants: Ongoing obligations of the parties, including financial covenants and reporting requirements

10. Events of Default: Circumstances constituting default and consequences thereof

11. Remedies: Rights and remedies available to parties in case of default or breach

12. Term and Termination: Duration of the agreement and circumstances for early termination

13. Notices: Process and requirements for formal communications between parties

14. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes

15. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments