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Small Business Transfer Agreement
"I need a Small Business Transfer Agreement under Saudi Arabian law for transferring ownership of my local coffee shop chain with 3 locations in Riyadh to a domestic buyer, with completion planned for March 2025 and including post-sale consulting arrangements."
1. Parties: Identification of the seller and purchaser, including full legal names, registration details, and addresses
2. Background: Context of the transaction, brief description of the business, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transfer, including what is being sold and purchased
5. Purchase Price: Details of the consideration, payment terms, and payment mechanism
6. Completion: Timing and mechanics of the completion process, including conditions precedent
7. Seller's Warranties: Warranties regarding the business, assets, liabilities, and operations
8. Purchaser's Warranties: Basic warranties from the purchaser, including capacity to enter into the agreement
9. Business Assets: Detailed description of assets included in the sale
10. Employee Matters: Treatment of employees and related liabilities
11. Handover: Process for transferring control of the business
12. Confidentiality: Obligations regarding confidential information
13. Governing Law and Jurisdiction: Confirmation of Saudi Arabian law and jurisdiction
14. Execution: Signature blocks and execution formalities
1. Non-Competition: Restrictions on seller's future business activities - include when seller could potentially compete
2. Intellectual Property: Specific provisions for IP transfer - include when business has significant IP assets
3. Property Leases: Provisions for transfer of leases - include when business premises are leased
4. Post-Completion Services: Transitional services by seller - include when handover period is needed
5. Third Party Consents: Process for obtaining required consents - include when key contracts require consent for transfer
6. Debt and Encumbrances: Handling of existing debts - include when business has significant liabilities
7. Foreign Investment Provisions: Compliance with foreign investment laws - include when purchaser is non-Saudi
8. Zakat Provisions: Specific provisions for Zakat liability - include when significant Zakat implications exist
1. Schedule 1 - Business Assets: Detailed inventory of all tangible and intangible assets included in the sale
2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule 3 - Employee Information: Details of all employees, their terms and conditions
4. Schedule 4 - Properties: Details of all business premises and property rights
5. Schedule 5 - Contracts: List of business contracts being transferred
6. Schedule 6 - Intellectual Property: Detailed list of all IP rights included in the sale
7. Schedule 7 - Completion Requirements: Checklist of documents and actions required for completion
8. Schedule 8 - Warranties: Detailed warranties given by the seller
9. Appendix A - Form of Transfer Documents: Template documents required for the transfer
10. Appendix B - Handover Checklist: Detailed checklist for business handover process
Authors
Retail
Food and Beverage
Professional Services
Manufacturing
Technology
Healthcare
Construction
Real Estate
Education
Hospitality
Trading
Automotive
Fashion and Apparel
Logistics
Consulting
Legal
Finance
Operations
Compliance
Risk Management
Corporate Development
Business Development
Human Resources
Commercial
Mergers & Acquisitions
Business Owner
CEO
Managing Director
Legal Counsel
Corporate Lawyer
Business Development Manager
Finance Director
Operations Manager
Compliance Officer
Commercial Director
Risk Manager
Company Secretary
Chief Financial Officer
Business Transfer Specialist
Merger & Acquisition Manager
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