Asset Sale Agreement
Asset Sale Agreement for sale of business from one entity to another. Suitable for a company / trust / partnership or sole trader selling a business to another company / trust / partnership or sole trader.
This Asset Sale Agreement covers the following:-
- Defined terms & interpretation
- Sale and purchase
- Purchase Price
- Obligations before Completion
- Apportionable Outgoings and final payment of Purchase Price
- Customer Orders
- Title and risk
- Trading and other responsibilities
- Assumed Contracts
- Book Debts
- Motor vehicles
- After Completion
- Notices and other communications
Business Sale Agreements with Annexures to the Contract are divided up into Schedules. Unwanted schedules can be deleted depending on the circumstances.
- Schedule 1 – Apportionment of Purchase Price
- Schedule 2 – Plant and Equipment
- Schedule 3 – Warranties
- Schedule 4 – Business Contracts
- Schedule 5 – Property Lease
- Schedule 6 – Employees
- Schedule 7 – Statutory Licences
- Schedule 8 – Employee offer letters
- Schedule 9 – Client List
39 pages long
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An asset sale agreement lists all assets included in the sale including fixtures, furnishings, equipment, machinery, inventories, accounts receivable, and other items; the asset sale agreement also includes assets to be excluded from the sale, such as cash and cash accounts, real estate, automobiles, etc.