Contract Purchase Agreement Definition

A contract purchase agreement is a binding contract between a buyer and a seller that outlines the terms of the sale of goods or services. The contract purchase agreement should include the names and contact information of both parties, a description of the goods or services being sold, the price of the sale, the date or time period in which the sale will take place, and any other relevant terms and conditions. This agreement can be used for the sale of any type of product or service, but is most commonly used in business-to-business sales.