The appointment of an agent as an intermediary under this model helps to minimize the risk to the seller, as he only has to deliver the goods after he knows that the purchaser has paid the purchase money to the agent, and helps to minimize the risk to the buyer, since the fiduciary intermediary only transmits the price to the seller after the warranty period and the warranty merchandise expires for the entire period. The purchaser may, at any time during the warranty period, assert a right to a breach of the guarantee. If he makes a successful claim, the price is refunded by the agent and the goods are returned to the seller, but if the guarantee expires without such a right being invoked, the agent then pays the price to the seller. The buyer and seller may decide to appoint an agent if they want to reduce the resulting risk because they do not know each other well (or at all) and therefore cannot trust each other. The risk for the seller is that he may not be able to recover the price from the buyer after the delivery of the goods. The buyer may not be able to cancel the purchase and recover the payment if he receives the payment at or shortly after delivery and without the guarantee agreed in the sales contract (for example. B 90 days), if the merchandise does not comply with the sales contract. This agreement is suitable for a sale in one of the following cases: – a professional company (or two joint ventures), such as a company of accountants or lawyers, which undertakes to provide a trust service to professional clients – a company, a company or an institution that regularly provides trust services related to the sale of property. should be a guarantee, but it is also of the view that there is a risk that the seller will not deliver the goods, for whatever reason, while the buyer has paid for the goods. To cover this case, the entire text of the asterisk must be included in brackets.
This model can only be used if all three parties are headquartered and operating in the UNITED Kingdom and if payment and delivery of goods is to take place in the United Kingdom. This trust purchase agreement with warranty and payment terms can be used with a contract for the sale of new or used goods of any kind. It is not specifically designed for certain types of products, but it can usually be used for the sale of a used vehicle. Because the model is designed for goods of relatively high value. B several thousand pounds or more, we have included terms to cover any important issues that might arise. A shorter agreement may be used for goods of lower value or if either of the three parties needs a much simpler document, but attention should be paid before removing the provisions of this model. Note that paragraph “B” anticipates the presentation that the sales contract is written in such a way that the seller and buyer are not required to enter into a trust agreement, but if they do not do so within an allotted time, the sales contract has no legal value (i.e., there is no sale). – an institution (z.B. bank) that is willing to act as an agent on a single basis.
The fiduciary agent is an independent entity that sellers and buyers trust and are designated by them as agents of both under this model.