Document background
The Preliminary Sale Agreement (Vorvertrag) is a crucial document in Austrian business and legal practice, commonly used when parties intend to enter into a sale transaction but need to establish certain conditions or complete specific steps before concluding the final contract. This document type is particularly relevant in complex transactions such as real estate purchases, business acquisitions, or high-value asset sales where due diligence, financing arrangements, or regulatory approvals may be required. Under Austrian law, specifically 搂 936 ABGB, the agreement must contain all essential elements of the future main contract while providing a clear framework for the pre-completion phase. It offers legal security to both parties by creating binding obligations while maintaining flexibility for addressing preliminary requirements. The document is widely used across various sectors and can be adapted to both business-to-business and business-to-consumer contexts, incorporating relevant consumer protection provisions where necessary.
