How Do You Say Payment Agreement In Spanish

The filing does not grant the parties the termination of the contract and does not fulfil the function of early compensation. The parties cannot rule against the contract that waives the down payment or returns double the amount. In the event of non-compliance with the contract by one of the parties, the other party may claim the performance of the contract or the termination of the contract with damages in both cases (Article 1124). This compensation is taken into account for the harm caused by the offence pursuant to sections 1106 and following. In other words, no compensation is limited to the amount paid as a down payment, or its double repayment and may be higher or lower, depending on the damage caused and the good or bad faith of the defaulting party. If the seller decides to withdraw the contract, he takes the penalties as damages. Finally, this must be clearly stated in the document you sign if you sign a contract with a payment or if you receive a signed receipt. All of these contracts should also provide clear details about the buyer, seller, property, agreed price, deadline for signing deeds, free possession, free ownership, as transaction fees are paid, clauses that assign responsibilities, conditional clauses that must be fulfilled for the contract to be valid and how disputes are settled. If you buy furniture or other Kreditor items, they must be included in a stock attached to the contract. With this contract, you pay an agreed amount to the seller – say 5% when it could be up to 10% of the agreed price – and in return, the seller agrees to sell you the property at the agreed price if you exercise the purchase option within the agreed time frame. If you use the call option, the contract actually becomes a fully successful private sales contract, and your payment is at full price. However, if you do not exercise the option during the agreed period, you lose the money you paid for the option and the seller is no longer contractually obliged to sell you the property.

That would be the end of the case and you would have no reason to challenge the contract in court. For this reason, this contract is popular with suppliers. However, you should only sign this contract and pay the option amount if you are sure you want to continue. You must complete your due diligence before signing this type of contract. This is the function that should be assumed in the Arras, according to the case law, in the absence of an agreement to the contrary. In other words, if a down payment was made at the time the contract was signed and nothing was agreed on its function, then the down payment is a confirmation payment. You are here: Home «Arcos-Lamers Asociados Blog» down payment or down payment (Arras) in the Spanish sales contract The down payment contract is very similar to the deposit contract and contains the same information. The big difference is that there is no support mechanism unless both parties agree to the call of the transaction. Neither party can withdraw unilaterally, so you are forced to take into account with the purchase if the seller is not willing to terminate the contract and make your deposit.