Purchase of Business Agreement Templates are used for the official documentation and detailing of the sale and transfer of a business from one entity to another. Our Purchase of Business Agreement Template Free provides a comprehensive structure that covers every crucial aspect involved in the transaction.
Available for download, these templates are easily customizable to suit your specific requirements. You can edit and adapt the terms in line with your business needs, effectively creating a robust contract that safeguards your interests throughout the purchase process.
1. AGREEMENT TO PURCHASETHIS AGREEMENT made this INSERT DATE, by and between INSERT SELLER NAME, hereafter referred to as “Seller”, and INSERT BUYER’S NAME, hereafter referred to as “Buyer”. The Seller hereby agrees to sell, and the Buyer hereby agrees to purchase the business operated by the Seller under the name INSERT BUSINESS NAME located at INSERT BUSINESS ADDRESS on the terms and conditions set forth herein.
2. PURCHASE PRICEThe purchase price for the business assets shall be INSERT PRICE, payable as follows: INSERT PAYMENT TERMS.
3. ASSETS TO BE TRANSFERREDThe assets of the business to be transferred to the Buyer include, but are not limited to: INSERT ASSET DETAILS.
4. LIABILITIESThe Buyer shall assume and agrees to pay, perform, and discharge the following liabilities and obligations of the business: INSERT LIABILITY DETAILS.
5. REPRESENTATIONS AND WARRANTIES OF SELLERThe Seller represents and warrants to the Buyer that: INSERT REPRESENTATIONS AND WARRANTIES.
6. REPRESENTATIONS AND WARRANTIES OF BUYERThe Buyer represents and warrants to the Seller that: INSERT REPRESENTATIONS AND WARRANTIES.
7. CLOSINGThe closing of the sale and purchase of the business shall take place on INSERT DATE at INSERT TIME at INSERT LOCATION or at such other time and place as the Seller and Buyer may mutually agree.
8. POST-CLOSING COVENANTSAfter the Closing, the Seller agrees to: INSERT POST-CLOSING COVENANTS.
9. INDEMNIFICATIONThe Seller and Buyer each agree to indemnify and hold harmless the other from and against: INSERT INDEMNIFICATION DETAILS.
10. CONFIDENTIALITYBoth parties agree to keep confidential all non-public material information regarding the business and this Agreement, except as required by law or agreed in writing by both parties.
11. GOVERNING LAWThis Agreement shall be governed and construed in accordance with the laws of INSERT JURISDICTION.
12. ENTIRE AGREEMENTThis Agreement constitutes the entire understanding and agreement between the Seller and Buyer and supersedes any and all prior understandings and agreements between them relating to the subject matter hereof.
IN WITNESS WHEREOF, the Seller and Buyer have executed this Purchase of Business Agreement as of the date first above written.
__________________________ _________________________ INSERT SELLER’S NAME INSERT BUYER’S NAME
Date: _________________ Date: _________________
Other Useful ContractsIf you found the Purchase of Business Agreement Template useful, there’s a good chance that you’ll also appreciate a few other documents related to business transactions. For instance, as you prepare to purchase a business, you might also find it necessary to establish some boundaries with the seller to avoid any future competition. The Non-Compete Business Agreement Template can be extremely handy in such cases. It is designed to help you draft a non-compete contract that prevents the seller from opening a similar business that could affect your new acquisition.
While purchasing a business, it’s important to bear in mind that things may not always go as planned. Business agreements can be terminated due to various reasons such as breach of contract or mutual agreement between parties. To protect your interests in such a scenario, you should consider using the Termination of Business Agreement Template. This template provides a framework for drafting an agreement that effectively sets out the terms and conditions for terminating a business contract.
Another vital document is the Loan Business Agreement Template. If you’re contemplating borrowing funds from a financial institution or an individual to finance the purchase of the business, this template can guide you in creating a comprehensive loan contract that outlines all terms and conditions related to the lending agreement.
Finally, if the purchased business is intended to operate as a partnership, it would be wise to draft an appropriate agreement. The Partnership Business Agreement Template can be extremely helpful for this purpose. It lays down the foundation for your partnership arrangement by outlining the roles, responsibilities, profit distribution plans, and other essential details of each participating party. Remember, a well-drafted partnership agreement is key to avoiding misunderstandings and ensuring smooth operations.