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Agreement For Sale Of Business Sole Proprietorship
"I need an Agreement For Sale Of Business Sole Proprietorship for the sale of my F&B business in Singapore, including transfer of kitchen equipment, recipes, and staff contracts, with completion planned for March 2025."
1. Parties: Identification of seller and purchaser with full details of the sole proprietor and buyer
2. Background: Context of the sale, description of the business, and intention of the parties
3. Definitions: Key terms used throughout the agreement including Business, Assets, Completion Date, and Purchase Price
4. Sale and Purchase: Core transaction terms including purchase price, payment terms, and what is being sold
5. Assets Included: Comprehensive description of all assets being transferred as part of the business sale
6. Completion: Details of completion date, completion obligations, and transfer mechanics
7. Warranties: Seller's representations about the business, assets, liabilities, and compliance with laws
8. Governing Law: Specification of Singapore law as governing law and jurisdiction for disputes
1. Employee Transfer: Provisions for transfer of employees, including terms, conditions, and obligations under Employment Act
2. Property Assignment: Terms for transfer of property rights and compliance with Property Tax Act requirements
3. Non-Compete: Restrictions on seller's future business activities to protect goodwill of the transferred business
4. Intellectual Property: Specific provisions for transfer of IP rights and associated obligations
5. Data Protection: Provisions regarding transfer of customer data and compliance with Personal Data Protection Act
1. Schedule 1 - Asset Inventory: Detailed list of all tangible and intangible assets being transferred
2. Schedule 2 - Employee Information: List of transferring employees, their terms of employment and benefits
3. Schedule 3 - Contracts: List of business contracts being assigned or transferred
4. Schedule 4 - Property Details: Details of any real property or leases included in the sale
5. Schedule 5 - Intellectual Property: Inventory of all IP rights, registrations, and applications being transferred
6. Schedule 6 - Licenses and Permits: List of business licenses, permits and regulatory approvals to be transferred
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