A retail installment agreement is an agreement signed by the Purchaser involving a finance charge and providing for the sale of goods or services. Federal and some State Laws (Consumer Credit Protection Acts) require the disclosure of what the Purchaser is being charged for the credit he/she is receiving. These disclosures include such things as the amount being financed; finance charges; the annual percentage rate; and the number of payments and when due. However, such disclosures are usually only required when a person regularly extends consumer credit (e.g. more than 25 times in the preceding calendar year).
This form is for a casual seller who does not enter into such transactions on a regular basis. It can also be used in commercial transactions (e.g., credit that is not being extended primarily for personal, family, or household purposes).
The Purchaser in this form grants the Seller a security interest in the collateral being sold. A security interest is an interest in personal property or fixtures that secures payment or performance of an obligation. The Seller requires the Purchaser to secure the obligation with the personal property being purchased so that if the Purchaser does not pay as promised, the Purchaser can take the collateral back, sell it, and apply the proceeds against the unpaid obligation of the Purchaser.
A Broward Florida Retail Installment Contract, also known as a Retail Installment Agreement, is a legal document that outlines the terms and conditions of a purchase made on credit in Broward County, Florida. This agreement is commonly used in the retail industry to facilitate the sale of goods and services to consumers. The Broward Florida Retail Installment Contract governs the payment schedule, price, interest rates, and any other relevant terms related to the purchase. It ensures that both the buyer and the seller understand their responsibilities and obligations towards the transaction. There are several types of Broward Florida Retail Installment Contracts or Agreements, based on the nature of the purchase: 1. Auto Retail Installment Contract: This type of agreement is specifically crafted for the sale of vehicles, such as cars, motorcycles, or trucks. It includes provisions related to down payments, loan terms, interest rates, and any applicable warranties. 2. Furniture Retail Installment Contract: When purchasing furniture or home appliances on credit in Broward County, Florida, this agreement is commonly utilized. It outlines the repayment plan, interest rates, delivery terms, and return policies. 3. Electronics Retail Installment Contract: For the purchase of electronic devices, such as televisions, computers, or smartphones, this specific type of contract is used. It covers details about the down payment, monthly installments, interest rates, and any warranties or service plans. 4. Home Improvement Retail Installment Contract: This agreement is employed when consumers finance home improvement projects, such as renovations, repairs, or installations. It includes provisions related to loan amounts, repayment terms, interest rates, and any necessary permits or licenses. 5. Jewelry Retail Installment Contract: When purchasing jewelry, watches, or other luxury items on credit, this type of agreement is utilized. It outlines the terms for payment, interest rates, insurance coverage, and potential penalties for non-payment or late payments. It is important for sellers and buyers in Broward County, Florida, to carefully review and understand the specific terms of the Retail Installment Contract before finalizing any purchase on credit. Compliance with state and federal consumer protection laws is crucial to ensure fair and transparent transactions between parties.A Broward Florida Retail Installment Contract, also known as a Retail Installment Agreement, is a legal document that outlines the terms and conditions of a purchase made on credit in Broward County, Florida. This agreement is commonly used in the retail industry to facilitate the sale of goods and services to consumers. The Broward Florida Retail Installment Contract governs the payment schedule, price, interest rates, and any other relevant terms related to the purchase. It ensures that both the buyer and the seller understand their responsibilities and obligations towards the transaction. There are several types of Broward Florida Retail Installment Contracts or Agreements, based on the nature of the purchase: 1. Auto Retail Installment Contract: This type of agreement is specifically crafted for the sale of vehicles, such as cars, motorcycles, or trucks. It includes provisions related to down payments, loan terms, interest rates, and any applicable warranties. 2. Furniture Retail Installment Contract: When purchasing furniture or home appliances on credit in Broward County, Florida, this agreement is commonly utilized. It outlines the repayment plan, interest rates, delivery terms, and return policies. 3. Electronics Retail Installment Contract: For the purchase of electronic devices, such as televisions, computers, or smartphones, this specific type of contract is used. It covers details about the down payment, monthly installments, interest rates, and any warranties or service plans. 4. Home Improvement Retail Installment Contract: This agreement is employed when consumers finance home improvement projects, such as renovations, repairs, or installations. It includes provisions related to loan amounts, repayment terms, interest rates, and any necessary permits or licenses. 5. Jewelry Retail Installment Contract: When purchasing jewelry, watches, or other luxury items on credit, this type of agreement is utilized. It outlines the terms for payment, interest rates, insurance coverage, and potential penalties for non-payment or late payments. It is important for sellers and buyers in Broward County, Florida, to carefully review and understand the specific terms of the Retail Installment Contract before finalizing any purchase on credit. Compliance with state and federal consumer protection laws is crucial to ensure fair and transparent transactions between parties.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
