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The Sale Deposit Agreement serves as a crucial preliminary document in sale transactions under Indian law, establishing the parties' commitment to proceed with the sale and purchase of property or assets. This agreement is typically used when a buyer wishes to secure their interest in a purchase by paying a deposit, while the complete sale transaction is pending final documentation or due diligence. The document includes essential details such as the deposit amount, conditions for its refund or forfeiture, timeline for completing the sale, and obligations of both parties. It must comply with Indian contract law requirements and, where applicable, sector-specific regulations such as RERA for real estate transactions. The agreement provides legal protection to both parties during the interim period between deposit payment and final sale completion.

1. Parties: Identification and details of all parties to the agreement, including full legal names, addresses, and registration details if companies

2. Background: Context of the transaction and brief description of the parties' intention to enter into a sale agreement with deposit

3. Definitions: Definitions of key terms used throughout the agreement

4. Deposit Amount: Specification of the deposit amount, payment terms, and timing

5. Sale Price and Payment Terms: Total sale price, payment schedule, and method of payment

6. Property/Asset Description: Detailed description of the property or asset being sold

7. Conditions for Deposit: Terms and conditions under which the deposit is held and released

8. Obligations of the Seller: Seller's commitments and responsibilities under the agreement

9. Obligations of the Buyer: Buyer's commitments and responsibilities under the agreement

10. Completion Timeline: Timeline for completion of the sale and key milestones

11. Default and Remedies: Consequences of default by either party and available remedies

12. Governing Law and Jurisdiction: Specification of applicable law and jurisdiction for dispute resolution

13. Notices: Process and addresses for serving notices under the agreement

14. Execution: Signature blocks and execution formalities