Agreement for Sale of Equipment (Australia)

About This Agreement

A long agreement for sale of redundant assets / equipment.

An agreement for sale of redundant equipment with provisions relating to: price, collection, compliance and safety, personnel, equipment, title and risk, confidentiality, intellectual property, insurance, warranties, liability and indemnity.

Redundant assets are those assets that are not specifically required by a company to generate earnings and cash flow from operations. They are “redundant” to the operations of the business. Typically, the valuation of companies for sale are conducted excluding any redundant assets and their related income and expenses.

This Agreement for Sale of Equipment is used when selling redundant or surplus equipment in Australia. It sets out the terms of sale, including purchase price, collection responsibilities, warranties, safety obligations, and transfer of risk.

Key Features

• Defines the equipment being sold and the price payable

• Collection obligations and buyer’s responsibilities

• Compliance with health and safety requirements

• Title passes on payment; risk passes on collection or signing

• Excludes warranties and limits seller liability

• Buyer indemnities and insurance requirements

• Confidentiality and intellectual property provisions

• Entire agreement, governing law, and severability