The Option Agreement serves as a crucial legal instrument in Australian commercial practice, providing a structured framework for securing future rights while maintaining flexibility in decision-making. This document type is commonly used when parties wish to preserve the opportunity to enter into a future transaction without immediate commitment to its full execution. The Option Agreement typically includes detailed provisions regarding the option period, exercise price, exercise mechanics, and completion obligations, all drafted in compliance with Australian law. It finds application across various scenarios, including property acquisitions, corporate transactions, resource projects, and business sales. The agreement's structure allows parties to balance the option holder's need for future rights against the option grantor's requirement for certainty and compensation, while ensuring compliance with relevant Australian regulatory requirements including corporations law, property law, and where applicable, foreign investment regulations.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies and defines the parties to the agreement - typically the Option Grantor and Option Holder
2. Background: Sets out the context and purpose of the option agreement, including brief description of the subject matter
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Grant of Option: Explicitly states the grant of the option and its basic terms
5. Option Period: Specifies the duration of the option, including start and end dates
6. Option Fee: Details the amount payable for the option and payment terms
7. Exercise of Option: Specifies the process and requirements for exercising the option
8. Exercise Price: States the price payable upon exercise of the option
9. Completion: Sets out the process and obligations for completion after option exercise
10. Warranties and Representations: Contains warranties given by both parties regarding their capacity and authority
11. Confidentiality: Obligations regarding confidential information
12. Notices: Specifies how formal notices must be given under the agreement
13. General Provisions: Standard boilerplate clauses including governing law, entire agreement, etc.
14. Execution: Formal execution blocks for signing by the parties
1. Due Diligence: Include when the option holder has rights to conduct due diligence during the option period
2. Security: Include when there is any form of security required for the option
3. Assignment: Include when transfer of option rights needs to be specifically addressed
4. Multiple Options: Include when there are multiple tranches or types of options
5. Pre-emptive Rights: Include when there are other stakeholders with pre-emptive rights
6. Maintenance and Operation: Include for options over business assets or property requiring maintenance during the option period
7. GST: Include detailed GST provisions when the option or underlying transaction is subject to GST
8. Foreign Investment: Include when foreign investment approval may be required
9. Competition Law Compliance: Include when the exercise of the option may have competition law implications
1. Option Terms Schedule: Detailed description of the option terms including precise pricing mechanisms
2. Property/Asset Description: Detailed description of the property or assets subject to the option
3. Exercise Notice Form: Prescribed form for exercising the option
4. Due Diligence Requirements: List of due diligence materials and processes if applicable
5. Form of Primary Agreement: Draft of the agreement to be entered into upon exercise (e.g., sale agreement)
6. Corporate Information: Corporate details of the parties if the option relates to company shares
7. Encumbrances Schedule: List of any existing encumbrances on the option subject matter
Find the exact document you need
Unregistered Sale Agreement With Possession
An Australian legal agreement allowing property possession before title transfer, setting out terms and conditions for interim occupation and eventual sale completion.
Download
Consignment Agreement Form
An Australian-law governed agreement establishing terms for consignment sales arrangements, including commission structures and party responsibilities.
Download
Business Lease Agreement
An Australian-law governed agreement establishing terms and conditions for commercial property leasing, including rent, maintenance, and usage rights.
Download
General Tenancy Agreement
An Australian residential lease agreement that establishes the legal framework for property rental, compliant with state tenancy laws.
Download
Residential Lease Agreement Form
An Australian-compliant residential lease agreement template establishing terms and conditions between landlord and tenant for residential property rental.
Download
Written Agreement
An Australian law-compliant Written Agreement establishing legally binding terms between parties, suitable for various business relationships and transactions.
Download
Simple Agreement
An Australian law-compliant Simple Agreement template suitable for various commercial arrangements, featuring essential contract elements and basic protections.
Download
Side Agreement
An Australian law-governed Side Agreement that modifies or supplements an existing primary agreement between parties.
Download
Lease Agreement With Option To Purchase
An Australian law-governed agreement combining property lease terms with a future purchase option, suitable for both residential and commercial properties.
Download
Formal Agreement
Australian law-compliant Formal Agreement template with comprehensive contractual provisions suitable for various commercial relationships.
Download
Casual Worker Contract
An Australian-compliant casual employment contract template establishing terms and conditions for casual workers under the Fair Work Act 2009.
Download
Boilerplate Agreement
An Australian law-compliant template agreement establishing standard terms and conditions for business relationships.
Download
Tooling Agreement
An Australian-law agreement governing the ownership, use, and maintenance of industrial tooling, dies, and specialized equipment between manufacturers and users.
Download
Representation Agreement
An Australian-law governed agreement establishing the terms and conditions under which a representative may act on behalf of a principal.
Download
Provisional Agreement
An Australian-law governed temporary contractual arrangement establishing interim terms and conditions between parties while working towards a permanent agreement or short-term objective.
Download
Preliminary Agreement
An Australian law-governed framework document establishing initial terms and conditions for commercial negotiations, including both binding and non-binding provisions.
Download
Lease With Option To Buy
An Australian agreement combining a property lease with a future purchase option, governed by Australian property law and regulations.
Download
Land Agreement Between Two Parties
An Australian legal agreement governing land transfer or use between two parties, compliant with federal and state property laws.
Download
Common Terms Agreement
An Australian law-governed master agreement establishing standard terms across multiple facility agreements in a syndicated financing arrangement.
Download
Subordination Agreement Mortgage
An Australian law agreement establishing priority arrangements between multiple mortgage holders over the same property, setting out their respective rights and ranking of security interests.
Download
Enforceable Contract
Australian-compliant enforceable contract template suitable for various business relationships, incorporating all essential elements required under Australian contract law.
Download
Basic Contract
A standard Australian-law compliant contract template for establishing basic business agreements between parties.
Download
Prenuptial Agreement
An Australian Binding Financial Agreement (prenuptial agreement) that outlines financial arrangements between prospective spouses under the Family Law Act 1975.
Download
Rental Lease Agreement Form
An Australian-compliant legal document establishing the terms and conditions between landlord and tenant for residential property rental.
Download
Contra Agreement
An Australian legal document governing the exchange of goods or services between parties without monetary payment, compliant with Australian contract law and GST regulations.
Download
Lease Agreement
An Australian lease agreement governing the terms and conditions for property rental, compliant with federal and state property laws.
Download
Contractual Agreement
An Australian law-governed agreement establishing formal business relationships between parties, outlining rights, obligations, and terms of engagement.
Download
Security Agreement Form
An Australian legal document creating a security interest in personal property under the PPSA, detailing terms of security arrangements between secured parties and grantors.
Download
Labour Contract Agreement For Construction Of House
An Australian-compliant labour contract agreement for residential house construction, outlining construction terms, responsibilities, and legal obligations.
Download
Business Cooperation Agreement
An Australian law-governed agreement establishing terms for business cooperation between two or more entities.
Download
Rolling Tenancy Agreement
An Australian periodic residential tenancy agreement that continues indefinitely until terminated by notice from either party, compliant with Australian tenancy laws.
Download
Lodger Agreement
An Australian legal agreement between a property owner/head tenant and a lodger for shared living arrangements, covering room usage, facilities, payments, and house rules.
Download
Consulting Agreement
An Australian-law governed agreement establishing terms and conditions for professional consulting services between a consultant and client.
Download
Intent To Purchase Agreement
An Australian-law governed preliminary agreement outlining the intention to purchase assets, property, or business interests, establishing key transaction terms and conditions.
Download
Head Of Terms Agreement
An Australian-law governed preliminary agreement outlining key commercial terms between parties, serving as a framework for negotiating definitive agreements.
Download
Business Contract
Australian business contract template for commercial relationships, compliant with Australian law and adaptable to various business contexts.
Download
Umbrella Agreement
An Australian law-governed master agreement establishing a framework for ongoing business relationships and future specific agreements between parties.
Download
Share Purchase Agreement
An Australian law-governed agreement documenting the sale and purchase of shares in a company, including price, warranties, and completion mechanics.
Download
Rent To Own Agreement Form
An Australian legal agreement establishing terms for a property rent-to-own arrangement, combining rental terms with a future purchase option.
Download
Consulting Services Agreement
An Australian law agreement governing the provision of professional consulting services, establishing terms, conditions, and obligations between consultant and client.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)