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Commercial Purchase And Sale Agreement
"I need a Commercial Purchase and Sale Agreement for my New Zealand-based manufacturing company to purchase industrial equipment worth NZD 500,000 from a supplier in Auckland, with delivery expected by March 2025 and payment in three installments."
1. Parties: Identifies and provides full legal details of the seller and purchaser
2. Background: Sets out the context of the agreement and basic transaction premise
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Sale and Purchase: Core agreement to sell and purchase, including basic description of goods/assets
5. Purchase Price: Specifies the price, payment terms, and payment method
6. GST: Addresses GST treatment of the transaction
7. Conditions: Any conditions that must be satisfied before the agreement becomes unconditional
8. Due Diligence: Purchaser's right to investigate the goods/assets and timeframe
9. Delivery and Risk: Specifies delivery terms, timing, and point of risk transfer
10. Title and Security Interests: Addresses transfer of title and confirms goods are free from encumbrances
11. Warranties: Standard warranties from both parties regarding the transaction
12. Default: Consequences of default by either party
13. Dispute Resolution: Process for resolving disputes between parties
14. General Provisions: Standard boilerplate clauses including notices, amendments, governing law
15. Execution: Signing provisions and execution blocks
1. Intellectual Property: Required when the sale includes IP rights or licenses
2. Transitional Services: Include when seller needs to provide temporary support post-sale
3. Employee Matters: Necessary when the sale affects employment relationships
4. Confidentiality: Include for transactions involving sensitive information exchange
5. Non-Competition: Add when restricting seller's future competing activities
6. Insurance: Include when specific insurance requirements apply to the transaction
7. Third Party Consents: Required when transaction needs external approvals
8. Environmental Matters: Include for sales involving environmental considerations or risks
9. Tax Indemnity: Add for complex transactions with specific tax implications
1. Schedule 1 - Assets/Goods Description: Detailed description of items being sold including specifications
2. Schedule 2 - Purchase Price Allocation: Breakdown of purchase price across different assets/categories
3. Schedule 3 - Encumbrances: List of any existing security interests or encumbrances
4. Schedule 4 - Excluded Assets: List of assets specifically excluded from the sale
5. Schedule 5 - Required Consents: List of third party consents needed for the transaction
6. Schedule 6 - Warranty Exceptions: Specific exceptions to the warranties given
7. Appendix A - Form of Transfer Documents: Templates for any required transfer documentation
8. Appendix B - Handover Checklist: List of items and tasks for completion at handover
Authors
Retail
Manufacturing
Wholesale Trade
Information Technology
Professional Services
Construction
Agriculture
Mining
Transportation
Healthcare
Education
Real Estate
Hospitality
Energy
Telecommunications
Legal
Finance
Procurement
Sales
Operations
Compliance
Risk Management
Commercial
Supply Chain
Business Development
Chief Executive Officer
Chief Financial Officer
Commercial Director
Procurement Manager
Sales Director
Business Development Manager
Legal Counsel
Contract Manager
Operations Manager
Supply Chain Manager
Finance Manager
Risk Manager
Compliance Officer
General Manager
Commercial Manager
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