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Liability Transfer Agreement
"Need a Liability Transfer Agreement to transfer all outstanding construction project liabilities from ABC Construction Pte Ltd to XYZ Builders Pte Ltd, with completion scheduled for March 15, 2025, including specific provisions for ongoing warranty obligations."
1. Parties: Identification and details of the transferor and transferee
2. Background: Context of the liability transfer, including description of original liability
3. Definitions: Key terms used throughout the agreement
4. Transfer of Liability: Core provisions detailing the transfer mechanism and scope
5. Consideration: Details of payment or other consideration for the transfer
6. Representations and Warranties: Standard assurances from both parties
7. Governing Law and Jurisdiction: Specification of Singapore law and courts' jurisdiction
1. Conditions Precedent: Prerequisites before transfer becomes effective - use when transfer depends on specific conditions being met
2. Regulatory Compliance: Specific regulatory requirements - use when transfer involves regulated industries
3. Third Party Consents: Requirements for obtaining third party approvals - use when original liability involves third party rights
4. Tax Provisions: Allocation of tax liabilities - use when transfer has significant tax implications
1. Schedule 1 - Details of Original Liability: Detailed description of liability being transferred
2. Schedule 2 - Related Agreements: List of associated agreements affected by the transfer
3. Schedule 3 - Transfer Timeline: Key dates and milestones for the transfer process
4. Appendix A - Required Consents: List of required third party and regulatory approvals
5. Appendix B - Form of Notice: Template for notifying relevant parties of the transfer
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