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The creation of a purchase order is the first step in a business transaction, it is issued by the buyer and authorizes a seller to provide a product or service at a specified price. The invoice is a bill issued by the seller when that product has been delivered or the service has been completed.
A retail installment contract is created when a customer agrees to buy goods through installment payments. Retail installment contracts are closed-end transactions for purposes of the Truth in Lending Act.
A retail installment sales contract agreement is slightly different from a loan. Both are ways for you to obtain a vehicle by agreeing to make payments over time. In both, you are generally bound to the agreement after signing.
A retail installment sale is a transaction in which the buyer buys a car from the retail seller. The terms of the sale are set out in a retail installment sale contract, not a promissory note. In the retail installment sale contract, the buyer promises the retail seller that he will pay for the car over time.
The sales agreement comes before the sale. The bill of sale and the invoice come when you close the deal. The invoice is a bill.