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Agreement Of Sale Contract
"I need an Agreement of Sale Contract for the purchase of industrial equipment worth AED 2.5 million from a Dubai-based manufacturer, with completion scheduled for March 15, 2025, including warranties and maintenance provisions."
1. Parties: Identifies the seller and buyer with full legal names, addresses, and registration details if companies
2. Background: Contextual information about the transaction and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Core provision stating the seller's agreement to sell and buyer's agreement to purchase
5. Description of Sale Items: Detailed description of the goods or property being sold
6. Purchase Price: States the price and currency of the sale
7. Payment Terms: Details of how and when payment will be made, including any installments
8. Delivery: Terms and conditions of delivery, including timing and location
9. Title and Risk: When ownership and risk transfers from seller to buyer
10. Seller's Warranties: Warranties regarding ownership, condition, and quality of sale items
11. Buyer's Warranties: Warranties from the buyer, typically regarding authority to enter agreement
12. Termination: Circumstances under which the agreement can be terminated
13. Governing Law and Jurisdiction: Confirms UAE law governs and specifies jurisdiction for disputes
14. Execution: Signature blocks and execution formalities
1. Conditions Precedent: Used when completion is subject to certain conditions being met
2. Due Diligence: Include when buyer has right to conduct investigations before completion
3. Intellectual Property: Required when sale includes IP rights
4. Confidentiality: Include when sensitive information is exchanged
5. Non-Competition: Used in business sales to protect goodwill
6. Tax Provisions: Include detailed tax arrangements when significant tax implications exist
7. Force Majeure: Include when needed to address unforeseen circumstances
8. Insurance: Include when specific insurance requirements apply during transition
9. Post-Completion Obligations: Used when parties have continuing obligations after completion
10. Arbitration: Include when parties prefer arbitration over court litigation
1. Schedule 1 - Asset List: Detailed inventory of all assets included in the sale
2. Schedule 2 - Specifications: Technical specifications of goods being sold
3. Schedule 3 - Payment Schedule: Detailed payment terms if involving installments
4. Schedule 4 - Delivery Schedule: Detailed delivery timeline if multiple deliveries
5. Schedule 5 - Form of Transfer Documents: Templates of any transfer documentation required
6. Schedule 6 - Excluded Items: List of items specifically excluded from the sale
7. Appendix A - Required Approvals: List of regulatory or third-party approvals needed
8. Appendix B - Due Diligence Documents: List of documents provided for due diligence
Authors
Retail
Manufacturing
Real Estate
Automotive
Technology
Consumer Goods
Industrial Equipment
Luxury Goods
Construction
Agriculture
Energy
Healthcare
Telecommunications
Professional Services
Maritime
Legal
Commercial
Procurement
Sales
Finance
Operations
Compliance
Risk Management
Business Development
Contract Administration
Legal Counsel
Commercial Director
Procurement Manager
Sales Manager
Business Development Manager
Contract Administrator
Chief Financial Officer
Operations Manager
General Manager
Compliance Officer
Risk Manager
Managing Director
Chief Executive Officer
Property Manager
Asset Manager
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