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What is included

New South Wales

Sale of Business Contract is where one party (the seller) wants to sell their business to another party (the buyer).

In the event that the sale and purchase of the business includes the buyer purchasing real estate or taking over a lease then we recommend that legal advice be sought.

A Contract for Sale of Business up to date with recent changes in commercial leasing and other legislation affecting the sale of business.

The entire Contract is in Microsoft Word. There are not parts of the Contract that are locked for editing. Covers the following essential items:

  • Definitions & Interpretation
  • Key Person and guarantor
  • Sale and purchase
  • Price
  • Finance
  • GST
  • Title and risk
  • Continuation of business
  • Work orders
    Vendor assistance
  • Access to records and copies
  • Completion
  • Stock
  • Adjustments
  • Creditors
  • Debtors
  • Transfer of premises lease
  • New lease
    Transfer of franchise
  • Lease and hire agreements
  • Business agreements and arrangements
  • Employees
  • Superannuation
  • Restraint
  • Vendor Warranties
  • Warranties of the purchaser
  • Limits on warranties
  • Notice to complete
  • Guarantees
  • Termination of contract
  • Disputes
  • General Provisions
  • List of Annexures

21 pages long.

Buy Sale of Business Contract once use it as many times as you like.




Incudes GST


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What is a Sale of Business Contract

Creating a sale of business contract in New South Wales (NSW), Australia involves several key elements to ensure legality and comprehensiveness. Here’s a basic outline of what should typically be included in such a contract:

  1. Parties Involved: Clearly identify the parties involved in the transaction, including their full legal names and addresses.

  2. Description of Business: Provide a detailed description of the business being sold, including any assets, goodwill, intellectual property, and premises involved.

  3. Purchase Price and Payment Terms: Specify the total purchase price for the business and how it will be paid (e.g., lump sum, installment payments).

  4. Assets and Liabilities: Outline which assets are included in the sale (such as equipment, inventory, customer lists) and which liabilities (if any) will be assumed by the buyer.

  5. Conditions of Sale: Include any conditions that must be met before the sale can be completed, such as regulatory approvals or inspections.

  6. Warranties and Representations: Detail any warranties or guarantees made by the seller regarding the business, its assets, or its financial condition.

  7. Employee Issues: Address the status of existing employees, including whether they will be transferred to the new owner or terminated.

  8. Lease and Premises: If the business premises are leased, specify whether the lease will be assigned to the buyer or terminated.

  9. Non-compete Clause: Include any restrictions on the seller’s ability to compete with the business post-sale within a specified geographic area and time period.

  10. Dispute Resolution: Outline how disputes arising from the contract will be resolved, such as through mediation or arbitration.

  11. Governing Law: Specify that the contract is governed by the laws of New South Wales.

  12. Signatures: Ensure the contract is signed and dated by authorized representatives of both parties.

It’s highly recommended to seek legal advice when drafting or reviewing a sale of business contract to ensure all relevant laws and considerations are properly addressed.

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