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Non Refundable Deposit Purchase Agreement Template for Philippines

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Key Requirements PROMPT example:

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."

Document background
The Non-Refundable Deposit Purchase Agreement is a crucial document used in Philippine commercial transactions where a buyer commits to a purchase by providing an upfront, non-returnable deposit. This type of agreement is commonly used in high-value transactions, particularly in real estate, equipment purchases, or significant commercial deals where sellers need protection against potential buyer default or withdrawal. The agreement must comply with Philippine law, including the Civil Code and consumer protection regulations. It typically includes detailed provisions about the deposit amount, conditions for non-refundability, purchase completion requirements, and consequences of default. This document is essential for businesses and individuals seeking to formalize purchase commitments while protecting their interests in the transaction.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


























Clauses



























Relevant Industries

Real Estate

Manufacturing

Retail

Construction

Automotive

Industrial Equipment

Luxury Goods

Agriculture

Technology

Business Services

Relevant Teams

Legal

Sales

Commercial

Procurement

Finance

Compliance

Risk Management

Business Development

Real Estate

Contract Administration

Relevant Roles

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

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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