Installment Sale Agreement
A ready-to-print template retailers can fill in and use for the written sale agreement with their own customer.
This is a blank template for a Retailer's own records, not a document EMI Guard generates for any specific sale. EMI Guard / RK TECHNOLOGY is not a party to this agreement, is not a seller, co-seller, financier, owner, co-owner, witness or guarantor under it, and does not determine or transfer ownership of any device under it. The Retailer must fill it in correctly for each sale, explain it to the Customer in a language the Customer understands, obtain the Customer's signature, and keep a copy. Retailers are encouraged to have this template reviewed by their own advocate before regular use, especially for high-value sales.
This Installment Sale Agreement (“Agreement”) is entered into between the following parties:
Business Name:
Owner Name:
Business Address:
Mobile Number:
Email:
Full Name:
Father's / Guardian's Name:
Residential Address:
Mobile Number:
Identity Verification:
Device Brand:
Device Model:
IMEI Number 1:
IMEI Number 2 (if applicable):
Device Condition (New / Used / Refurbished):
Total Agreed Sale Price: ₹
Down Payment: ₹
Outstanding Installment Amount: ₹
Number of Installments: Installment Amount: ₹
Due date of each installment:
The sum of the down payment and all installments shall exactly equal the agreed sale price. Any applicable charges or taxes must be disclosed separately before execution of this Agreement.
Ownership and legal title to the device shall remain with the Retailer until the Customer has paid the entire agreed sale price and all other expressly agreed and legally payable amounts. Physical possession is delivered to the Customer for use during the installment period; delivery of possession alone does not transfer ownership.
Until ownership transfers, the Customer shall not sell, pledge, transfer, lease or otherwise dispose of the device without the Retailer's prior written consent. Upon full payment, ownership passes automatically to the Customer, and the Retailer shall confirm this in writing on request. EMI Guard has no ownership interest in the device and does not determine or independently effect any ownership transfer.
The Customer agrees to pay all installments according to the agreed payment schedule, through the payment methods authorized by the Retailer. The Retailer shall provide appropriate payment acknowledgements or receipts, maintain accurate payment records and promptly update the outstanding balance. No undisclosed charges, penalties or additional fees shall be imposed on the Customer.
The Customer acknowledges that the device may be enrolled in the EMI Guard device-management system with the Customer's informed and voluntary consent. Certain device-management restrictions may be applied if an installment remains unpaid beyond the agreed grace period, subject to prior notice, a reasonable opportunity to pay, applicable law and the technical capabilities of the device.
Grace period before a restriction may be applied: days. The Retailer is responsible for verifying any actual payment default before authorizing a restriction; no restriction shall be applied solely on the basis of an incorrect, disputed or unverified payment status. Emergency calling remains available during any restriction, and normal use is restored promptly once payment is confirmed.
The Customer agrees to pay installments within the agreed deadlines, provide accurate information during the purchase and device enrollment process, keep the device reasonably safe and secure, not tamper with or deliberately bypass authorized device-management controls, immediately inform the Retailer about payment discrepancies, loss, theft or material damage, and comply with applicable laws and this Agreement. Nothing in this clause excludes any non-waivable statutory rights of the Customer.
An installment remaining unpaid beyond the agreed grace period may constitute a payment default. Before applying any device restriction, the Retailer must notify the Customer of the outstanding amount, the relevant due date and the proposed action, and the Customer must receive a reasonable opportunity to clear the amount or raise a genuine payment dispute, which the Retailer shall investigate and correct without unreasonable delay. Any recovery or other remedy must be pursued only through lawful procedures and applicable consumer protection laws — nothing in this Agreement authorizes threats, harassment, unlawful access, physical force or any other prohibited recovery practice.
After delivery, the Customer shall exercise reasonable care in protecting the device and promptly notify the Retailer of theft, loss, accidental damage or other significant incidents. Manufacturer warranty, applicable statutory consumer rights and any separately agreed seller warranty remain subject to their respective terms; this Agreement does not automatically cancel or waive the Customer's lawful warranty or consumer rights.
EMI Guard is a technology and device-management service platform. It is not the seller, co-seller, financier, lender, co-owner, guarantor or collection agent under this Agreement. The actual sale, agreed price, installment schedule, payment collection, retention of title and ownership transfer are matters strictly between the Retailer and the Customer. EMI Guard does not acquire, retain, determine or transfer ownership of the device, does not guarantee payment by the Customer, and does not independently determine whether the Customer has defaulted. The Retailer remains responsible for the accuracy of sale information, payment records, customer consent and authorization of device-management actions.
The Customer acknowledges that relevant personal and device information may be processed for authorized device enrollment and management purposes, subject to the applicable EMI Guard Privacy Policy, disclosed purposes, valid consent or other lawful basis and applicable data-protection laws. The Customer may contact the Retailer or the designated grievance contact for privacy-related queries. Personal information shall not be used or disclosed beyond applicable lawful purposes.
Upon receipt and verification of all installments and the full agreed sale price, the Retailer shall confirm that no sale-price installment remains outstanding, confirm completion of the installment sale, release the device from installment-related restrictions, arrange removal of applicable device-management controls, and confirm transfer of ownership to the Customer. EMI Guard does not become the owner or transferor of the device merely by facilitating this technical release process.
The Parties shall first attempt to resolve disputes through direct communication and good-faith discussion; if unresolved, the Parties may pursue remedies before the appropriate competent legal authority. This Agreement is governed by the laws applicable in India, including relevant provisions of the Sale of Goods Act, 1930 and the Consumer Protection Act, 2019, as applicable. Courts having competent jurisdiction at shall have jurisdiction over disputes arising from this Agreement, and nothing herein restricts any statutory right of the Customer to approach an appropriate consumer forum.
This Agreement constitutes the written record of the installment sale arrangement between the Retailer and the Customer. Any amendment to the agreed sale price, payment schedule or material contractual terms must be documented and accepted by both Parties. If any provision is found unenforceable, the remaining lawful provisions continue to apply to the extent permitted by law. Both Parties confirm that they have read, understood and voluntarily accepted the terms of this Agreement.
I confirm that the device and sale details stated above are accurate and that I have explained the installment payment and ownership conditions to the Customer.
Retailer Name:
I confirm that I have understood the total sale price, installment schedule, ownership-retention conditions and device-management terms, and I voluntarily agree to this installment sale arrangement.
Customer Name:
EMI Guard is not a party to this sale agreement. EMI Guard provides technology and device-management services through its platform, subject to its applicable separate agreements and policies.
This page is a plain-language starting template, not legal advice, and does not replace a lawyer's review for the Retailer's specific business. Nothing in this template limits any right or remedy available to a consumer under applicable law.
Last updated: 11 November 2026.