This page allows you to download a free business transfer agreement in Word format, which is both editable and adaptable for your specific needs. Catering to both legal and business professionals, this comprehensive transfer agreement template caters to all aspects of business transfer, making it an easy-to-use business agreement template.
Whether you’re looking for a business sale agreement template or aiming to document the shift in business ownership, this downloadable template serves as both a PDF business transfer agreement and a DOCX business transfer agreement. It stands as your go-to solution for free editable company transfer agreements and legal documents for transferring a business.
1. PARTIESThis Transfer of Business Agreement (“Agreement”) is made this __ day of ________, 20__ (“Effective Date”) by and between ____________ (Seller), located at _________ (Seller’s Address) and __________ (Buyer), located at __________ (Buyer’s Address).
2. BUSINESSThe business which is the subject of this sale (“the Business”) is __________ (describe the Business).
3. PURCHASE PRICEThe agreed-upon purchase price for the Business is _______ (Purchase Price) which will be paid in the manner described below.
4. PAYMENT TERMSThe Purchase Price will be paid as follows: __________ (Describe the Payment Terms).
5. ASSETS AND LIABILITIESThe assets and liabilities being transferred as part of the sale of the Business include but are not limited to __________ (Describe Assets and Liabilities).
6. WARRANTIES AND REPRESENTATIONSSeller and Buyer make the following representations and warranties: __________ (Describe Warranties and Representations).
7. CONDITIONS PRECEDENTThe completion of the transfer of the Business is subject to the fulfillment of the following conditions: __________ (List Conditions Precedent).
8. CONFIDENTIALITYBoth parties agree to keep all information regarding the sale of the Business confidential except as required by law or agreed upon in writing by both parties.
9. NON-COMPETEThe Seller agrees not to engage in any business that competes with the Business within a ______-mile radius of __________ (Business’s Location) for a period of __________ (Non-Compete Period) after the Effective Date.
10. GOVERNING LAWThis Agreement shall be governed by and construed in accordance with the laws of __________ (Jurisdiction).
11. ENTIRE AGREEMENTThis Agreement constitutes the entire agreement between the parties and supersedes all previous negotiations, understandings and agreements, whether verbal or written, between the parties relating to the subject matter of this Agreement.
12. SIGNATURESBy signing below, the parties affirm that they have read, understood, and agree to the terms and conditions of this Agreement. ____________________ ____________________ (Seller’s Signature) (Buyer’s Signature) ____________________ ____________________ (Seller’s Name – Printed) (Buyer’s Name – Printed) ____________________ ____________________ (Date) (Date)
Other Useful ContractsIf you found the Transfer of Business Agreement Template useful, you might also be interested in some other essential business agreement templates.
Firstly, the Partnership Business Agreement Template is a critical document for any business partners who wish to define their roles, responsibilities, and contributions to the partnership. It lays the groundwork for a successful business partnership and can help prevent future disagreements or misunderstandings.
Another invaluable template is the Termination of Business Agreement Template. This can be used when you need to end an existing business agreement under specific terms and conditions. It ensures that all parties involved are aware of the termination process and its implications.
You may also need an Loan Business Agreement Template if you are looking to secure financing for your business. This sets out the terms of a loan arrangement, ensuring both the lender and borrower are clear on repayment terms, interest rates, and other critical details.
Finally, consider exploring the Non-Compete Business Agreement Template. If you’ve recently transferred a business or want to protect your business interests, this template helps enforce a non-compete clause between parties involved. This document establishes clear guidelines about how and when a party can participate in a competing business after leaving their current company.