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Purchase and Sale Agreement

This Purchase and Sale Agreement template is used to document the terms and conditions between a buyer and a seller for the sale of goods or assets. It is suitable for a wide range of transactions between businesses in an African context.

Updated 17d ago
purchase agreementsale agreementcontractgoodsassetstransactionSMEfinancing

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Purchase and Sale Agreement

This Purchase and Sale Agreement (the "Agreement") is made and entered into as of this {{day}} day of {{month}}, {{year}}, (the "Effective Date")

BETWEEN:

{{seller_company_name}}, a company duly incorporated under the laws of {{seller_jurisdiction}}, with its registered office at {{seller_address}} (hereinafter referred to as "the Seller");

AND

{{buyer_company_name}}, a company duly incorporated under the laws of {{buyer_jurisdiction}}, with its registered office at {{buyer_address}} (hereinafter referred to as "the Buyer").

The Seller and the Buyer are hereinafter collectively referred to as “the Parties” and individually as “a Party.”

1. Agreement to Sell and Purchase

1.1. The Seller hereby agrees to sell and transfer to the Buyer, and the Buyer hereby agrees to purchase and acquire from the Seller, the following goods/assets (the “Goods”):

{{description_of_goods}}

1.2. The Goods include, but are not limited to, the items listed in Schedule A, attached hereto and incorporated by reference.

2. Purchase Price

2.1. The total purchase price for the Goods shall be {{currency}} {{total_purchase_price}} (the “Purchase Price”).

2.2. The Purchase Price shall be paid by the Buyer to the Seller in the following manner:

(a) An initial deposit of {{currency}} {{deposit_amount}} shall be paid upon the signing of this Agreement.

(b) The remaining balance of {{currency}} {{balance_amount}} shall be paid on or before {{payment_due_date}}.

2.3. All payments shall be made by {{payment_method}} to the Seller’s nominated bank account: {{bank_account_details}}.

3. Delivery and Acceptance

3.1. The Seller shall deliver the Goods to the Buyer at {{delivery_location}} on or before {{delivery_date}}.

3.2. The Buyer shall inspect the Goods upon delivery and shall notify the Seller in writing of any defects, discrepancies, or non-conformity within {{inspection_period}} days of delivery. Failure to provide such notice shall constitute acceptance of the Goods by the Buyer.

3.3. Risk of loss or damage to the Goods shall pass from the Seller to the Buyer upon delivery at the specified location.

4. Warranties and Representations

4.1. The Seller warrants that it is the lawful owner of the Goods and has the full right and authority to sell and transfer the Goods to the Buyer, free from any liens, encumbrances, or third-party claims.

4.2. The Seller warrants that the Goods are in good working order and condition, subject to any disclosed defects specified in Schedule B, attached hereto.

4.3. The Buyer acknowledges that it has had the opportunity to inspect the Goods and is purchasing the Goods on an “as is” basis, save for any express warranties provided herein.

5. Governing Law and Dispute Resolution

5.1. This Agreement shall be governed by and construed in accordance with the laws of {{governing_country}}.

5.2. Any dispute, controversy, or claim arising out of or relating to this Agreement, or the breach, termination, or invalidity thereof, shall be settled by amicable negotiation between the Parties.

5.3. If the dispute cannot be resolved through amicable negotiation within {{negotiation_period}} days, the Parties agree to submit the dispute to mediation in {{mediation_city}}, {{governing_country}}, in accordance with the rules of {{mediation_body}}.

5.4. If mediation is unsuccessful, the dispute shall be finally settled by arbitration in {{arbitration_city}}, {{governing_country}}, in accordance with the rules of {{arbitration_body}}.

6. Entire Agreement

6.1. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

6.2. No amendment, modification, or waiver of any provision of this Agreement shall be effective unless in writing and signed by both Parties.

7. Signature Block

IN WITNESS WHEREOF, the Parties have executed this Purchase and Sale Agreement as of the Effective Date first written above.

FOR THE SELLER:

_____________________________

Name: {{seller_signer_name}}

Title: {{seller_signer_title}}

Date: {{seller_signature_date}}

FOR THE BUYER:

_____________________________

Name: {{buyer_signer_name}}

Title: {{buyer_signer_title}}

Date: {{buyer_signature_date}}

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