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As Is Purchase Agreement Template for New Zealand

A comprehensive legal document governed by New Zealand law that facilitates the sale and purchase of goods in their current condition, with limited or no warranties. This agreement explicitly acknowledges that the buyer accepts the goods "as is," with all faults and defects, whether visible or not. The document incorporates key requirements under New Zealand legislation, including the Contract and Commercial Law Act 2017 and Fair Trading Act 1986, while establishing clear terms for price, payment, delivery, and transfer of title. It includes necessary disclosures of known defects and buyer acknowledgments of the goods' condition.

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What is a As Is Purchase Agreement?

The As Is Purchase Agreement is designed for transactions in New Zealand where goods are sold in their existing condition without warranties or guarantees beyond those mandated by law. This document is particularly useful for second-hand goods, used equipment, or property sales where the seller wishes to limit their liability and the buyer agrees to accept items in their current state. The agreement includes essential provisions required under New Zealand law, including compliance with the Fair Trading Act 1986 for disclosure of known defects, while explicitly limiting other warranties. It's commonly used in both commercial and consumer contexts, though consumer transactions must still comply with the Consumer Guarantees Act 1993. The document typically includes detailed descriptions of the goods, their current condition, known defects, and buyer acknowledgments of inspection opportunities.

What sections should be included in a As Is Purchase Agreement?

1. Parties: Identification and details of the seller and purchaser

2. Background: Context of the sale and acknowledgment of 'as is' nature of the transaction

3. Definitions: Key terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the goods in their current condition

5. Price and Payment: Purchase price, payment terms, and method of payment

6. Condition of Goods: Express acknowledgment of 'as is' condition and disclaimer of warranties

7. Known Defects and Disclosures: Seller's disclosure of known defects or issues with the goods

8. Delivery and Collection: Terms for transfer of possession and risk

9. Buyer's Acknowledgments: Buyer's confirmation of inspection and acceptance of condition

10. Title and Risk: Transfer of ownership and risk provisions

11. General Terms: Standard contract provisions including governing law, notices, and amendments

What sections are optional to include in a As Is Purchase Agreement?

1. Inspection Period: Used when buyer is given time to inspect goods before finalizing purchase

2. Third Party Rights: Include when there are third party interests or rights that need to be addressed

3. Intellectual Property: Required when the goods involve any IP rights or limitations

4. Export/Import Requirements: Include for international sales or restricted goods

5. Installation: Used when complex goods require installation or setup

6. Training: Include when operation of goods requires specific training or instruction

7. Confidentiality: Required when transaction involves sensitive information

8. Insurance: Include when specific insurance requirements exist during transit or transfer

What schedules should be included in a As Is Purchase Agreement?

1. Schedule 1 - Description of Goods: Detailed description of items being sold including specifications and quantities

2. Schedule 2 - Condition Report: Detailed documentation of current condition including photographs

3. Schedule 3 - Known Defects: Itemized list of all known defects or issues

4. Schedule 4 - Delivery Details: Specific delivery or collection arrangements and timeframes

5. Schedule 5 - Payment Schedule: If payment is in installments or has special terms

6. Appendix A - Photographs: Visual documentation of goods and their condition

7. Appendix B - Maintenance Records: Historical maintenance and repair records if available

8. Appendix C - Operating Instructions: Basic operating or handling instructions if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

New Zealand

Document Type

Purchase Agreement

Cost

Free to use

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