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Non Refundable Deposit Purchase Agreement
"I need a Non-Refundable Deposit Purchase Agreement for a commercial property sale in Manila, with a 15% deposit of the total purchase price and a 30-day due diligence period starting March 1, 2025."
1. Parties: Identification and details of the seller and purchaser, including their legal capacity to enter into the agreement
2. Background: Context of the transaction and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter: Description of the property or goods being purchased
5. Deposit Amount and Payment Terms: Specification of the deposit amount, payment method, and timing
6. Non-Refundable Nature of Deposit: Clear statement of the non-refundable nature of the deposit and specific conditions
7. Purchase Price and Payment Structure: Total purchase price, how the deposit will be applied, and remaining payment terms
8. Completion of Purchase: Conditions and timeline for completing the full purchase transaction
9. Default and Consequences: Consequences of default by either party, including forfeiture of deposit
10. Representations and Warranties: Standard representations and warranties from both parties
11. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes
1. Due Diligence: Include when the purchaser requires a due diligence period before completing the purchase
2. Conditions Precedent: Add when there are specific conditions that must be met before proceeding with the purchase
3. Tax Provisions: Include for high-value transactions or when specific tax considerations need to be addressed
4. Force Majeure: Add when parties want to address potential extraordinary circumstances that might affect the transaction
5. Assignment Rights: Include when either party may need to assign their rights under the agreement
6. Confidentiality: Add for transactions involving sensitive commercial information
7. Broker or Agent Provisions: Include when a broker or agent is involved in the transaction
1. Property Description Schedule: Detailed description of the property or goods being purchased
2. Payment Schedule: Detailed breakdown of payment terms, including deposit and subsequent payments
3. Due Diligence Requirements: List of documents and information to be provided for due diligence
4. Required Documents: List of documents required from each party to complete the transaction
5. Deed of Absolute Sale Template: Draft of the final sale document to be executed upon completion
6. Special Conditions: Any special conditions or requirements specific to the transaction
Authors
Real Estate
Manufacturing
Retail
Construction
Automotive
Industrial Equipment
Luxury Goods
Agriculture
Technology
Business Services
Legal
Sales
Commercial
Procurement
Finance
Compliance
Risk Management
Business Development
Real Estate
Contract Administration
Legal Counsel
Commercial Director
Sales Manager
Business Development Manager
Contract Administrator
Real Estate Agent
Property Manager
Procurement Manager
Chief Financial Officer
Risk Manager
Compliance Officer
Transaction Manager
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