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Buy Sell Contract Template for Malaysia

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Key Requirements PROMPT example:

Buy Sell Contract

"I need a Buy Sell Contract for my Malaysian technology company to purchase 500 laptop computers from a local supplier, with delivery scheduled for March 2025 and payment to be made in three installments."

Document background
The Buy Sell Contract serves as a fundamental commercial document used in Malaysian business transactions for the sale and purchase of goods. This document is essential when parties need to formalize their transaction with legally binding terms under Malaysian law. It is particularly relevant for both business-to-business and business-to-consumer transactions, incorporating provisions from key Malaysian legislation including the Contracts Act 1950, Sale of Goods Act 1957, and Consumer Protection Act 1999. The agreement can be customized for various industries and transaction types, from simple one-time purchases to complex recurring supply arrangements. It provides clarity on crucial elements such as price, payment terms, delivery obligations, and risk transfer, while offering legal protection to both parties involved in the transaction.
Suggested Sections

1. Parties: Identifies and provides full details of the seller and buyer, including registration numbers for companies

2. Background: Brief context of the transaction and relationship between the parties

3. Definitions: Defines key terms used throughout the agreement

4. Subject Matter of Sale: Detailed description of the goods being sold

5. Purchase Price: Specifies the price, currency, and payment terms

6. Payment Terms: Details of payment method, schedule, and any installment arrangements

7. Delivery: Specifies delivery terms, location, timing, and responsibilities

8. Title and Risk: Determines when ownership and risk transfers from seller to buyer

9. Warranties and Representations: Standard warranties about ownership, quality, and condition of goods

10. Inspection and Acceptance: Process for examining goods and accepting or rejecting delivery

11. Termination: Circumstances under which the contract can be terminated

12. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for disputes

13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Intellectual Property Rights: Required when the goods involve IP rights or licenses

2. Confidentiality: Needed when sensitive information will be exchanged during the transaction

3. Insurance: Important for high-value goods or when specific insurance requirements exist

4. Export/Import Requirements: Necessary for international sales or regulated goods

5. Security Interest: Required when seller retains security interest until full payment

6. Force Majeure: Important for long-term supply arrangements or complex deliveries

7. Anti-Corruption Compliance: Required for high-value transactions or government-related sales

8. Return Policy: Needed for retail sales or when return rights are granted

Suggested Schedules

1. Schedule 1 - Specification of Goods: Detailed technical specifications, quantities, and quality standards

2. Schedule 2 - Pricing Schedule: Detailed breakdown of prices, especially for multiple items

3. Schedule 3 - Delivery Schedule: Detailed delivery timelines and locations for multiple deliveries

4. Schedule 4 - Payment Schedule: Details of installment payments or multiple payment milestones

5. Schedule 5 - Warranty Terms: Detailed warranty terms and conditions

6. Appendix A - Required Documents: List of documents required for the transaction

7. Appendix B - Testing and Acceptance Procedures: Detailed procedures for inspection and acceptance

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 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

Retail

Manufacturing

Wholesale Trade

Agriculture

Electronics

Automotive

Consumer Goods

Industrial Equipment

Textiles

Food and Beverage

Construction Materials

Technology

Mining

Chemical Products

Pharmaceuticals

Relevant Teams

Legal

Procurement

Sales

Finance

Operations

Compliance

Supply Chain

Commercial

Risk Management

Business Development

Contract Administration

Relevant Roles

Procurement Manager

Sales Manager

Contract Administrator

Legal Counsel

Commercial Director

Supply Chain Manager

Business Development Manager

Operations Manager

Finance Manager

Compliance Officer

Purchase Officer

Sales Executive

General Manager

Risk Manager

Chief Financial Officer

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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