BUY SELL AGREEMEENT

A buy/sell agreement is a contract between business partners where the surviving partners buy out the other partner’s interest should a specific event occur. Specific events usually include death, and long-term disability. A buy-sell agreement can consist of several clauses in a partnership or shareholder agreement. It can also take the form of a separate, freestanding agreement. This suite contains free-standing agreements that can be used together with a partnership, company or unit trust.

consultancy agreement between employee & client
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BUY SELL AGREEMENT

A buy/sell agreement is a contract between business partners where the surviving partners buy out the other partner’s interest should a specific event occur. Specific events usually include death, and long-term disability. A buy-sell agreement can consist of several clauses in a partnership or shareholder agreement. It can also take the form of a separate, freestanding agreement. This suite contains free-standing agreements that can be used together with a partnership, company or unit trust.

agency agreement appointment of a purchasing agent

 WHAT IS IN YOUR BUY SELL AGREEMENT

The Buy Sell agreement template may be used with partnerships, companies or trusts, and for  co-owners of a business who own their shares outright, rather than through a trust.

This includes provisions for:-

  • Creating the mechanism to buy and sell shares in the business
  • Method for determining market value
  • Payment of purchase monies
  • Transfer
  • Termination

13 Pages long.

A buy-sell agreement, also known as a buyout agreement, is a legally binding contract that outlines the process for buying and selling an owner’s interest in a business in specific situations, such as the death, disability, or retirement of an owner. Here are the key benefits of having a buy-sell agreement in place:

 

Benefits of a Buy-Sell Agreement

  • Ensures Business Continuity
  • Smooth Transition
  • Stability
  • Prevents Disputes Among Owners
  • Clear Terms
  • Dispute Resolution
  • Control
  • Consistency
  • Funding Mechanisms
  • Facilitates Estate Planning
  • Heir Protection
  • Tax Planning
  • Clarifies Roles and Responsibilities
  • Defined Process
  • Prevents Ambiguit

 

  • Common Scenarios Covered by a Buy-Sell Agreement
  • Death of an Owner
  • Disability of an Owner
  • Retirement or Withdrawal
  • Divorce of an Owner
  • Involuntary Transfer

 

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