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Free Business Sale Agreement
"I need a Free Business Sale Agreement for selling my Melbourne-based cafe business with 5 employees, including transfer of lease and kitchen equipment, with completion planned for March 2025 and staged payment terms."
1. Parties: Identification of the seller and purchaser, including full legal names, ACN/ABN, and registered addresses
2. Background: Context of the sale, brief description of the business, and purpose of the agreement
3. Definitions and Interpretation: Defined terms used throughout the agreement and rules for interpretation
4. Sale and Purchase: Core agreement to sell and purchase the business, including scope of assets and liabilities
5. Purchase Price: Total consideration, payment terms, deposit requirements, and adjustment mechanisms
6. Conditions Precedent: Conditions that must be satisfied before completion can occur
7. Pre-Completion Obligations: Parties' obligations between signing and completion, including business operation requirements
8. Completion: Time, place, and requirements for completion, including documents and items to be delivered
9. Post-Completion Obligations: Obligations after completion, including transitional arrangements and assistance
10. Employees: Treatment of employees, transfer arrangements, and entitlements
11. Warranties and Representations: Seller's warranties about the business and purchaser's warranties
12. Restraint of Trade: Non-compete and non-solicitation provisions
13. Confidentiality: Protection of confidential information and trade secrets
14. GST: GST treatment of the sale and related obligations
15. Default and Termination: Consequences of breach and termination rights
16. Dispute Resolution: Process for resolving disputes between parties
17. General Provisions: Standard boilerplate clauses including notices, governing law, and assignment
1. Intellectual Property: Specific provisions for transfer of IP rights, used when the business has significant IP assets
2. Third Party Consents: Requirements for obtaining third party approvals, used when key contracts or licenses require consent for transfer
3. Vendor Finance: Terms of seller-provided financing, used when part of purchase price is paid over time
4. Environmental Matters: Environmental warranties and indemnities, used for businesses with environmental risks
5. Property Lease Assignment: Specific provisions for transferring leases, used when business premises are leased
6. Stock: Detailed provisions for valuation and transfer of stock, used for businesses with significant inventory
7. Earn-out Provisions: Performance-based additional payments, used when purchase price includes contingent elements
8. Key Personnel: Provisions regarding retention of key employees, used when specific staff are crucial to business value
1. Schedule 1 - Assets: Detailed list of all assets included in the sale
2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule 3 - Contracts: List of business contracts being transferred
4. Schedule 4 - Employees: List of employees and their entitlements
5. Schedule 5 - Intellectual Property: Details of IP rights, registrations, and licenses
6. Schedule 6 - Premises: Details of business premises and lease arrangements
7. Schedule 7 - Warranties: Detailed seller warranties about the business
8. Schedule 8 - Completion Obligations: Detailed list of completion requirements and deliverables
9. Appendix A - Financial Statements: Recent financial statements of the business
10. Appendix B - Transfer Documents: Forms and documents required for transferring assets and registrations
Authors
Retail
Manufacturing
Professional Services
Hospitality
Technology
Healthcare
Construction
Transportation
Real Estate
Agriculture
Mining
Education
Financial Services
Media and Entertainment
Wholesale Trade
Tourism
Legal
Finance
Corporate Development
Mergers & Acquisitions
Operations
Compliance
Risk Management
Human Resources
Due Diligence
Integration
Commercial
Tax
Strategy
Business Development
Chief Executive Officer
Business Owner
Managing Director
Chief Financial Officer
Commercial Director
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Manager
Finance Manager
Company Secretary
Compliance Officer
Due Diligence Manager
Integration Manager
Risk Manager
Business Broker
Accountant
Tax Advisor
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