The As Is Sales Agreement is essential for transactions where goods are sold in their existing condition without extensive warranties or representations from the seller. This document, governed by New Zealand law, is commonly used in both business-to-business and business-to-consumer contexts where the buyer accepts goods in their current state, having had the opportunity to inspect them. The agreement includes specific provisions addressing risk transfer, title passage, and limited seller obligations, while complying with mandatory requirements under New Zealand legislation such as the Fair Trading Act 1986 and Contract and Commercial Law Act 2017. It's particularly valuable for selling used equipment, second-hand goods, or assets where the seller wishes to limit future liability while maintaining transparency about the goods' condition.
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1. Parties: Identifies and provides full details of the seller and buyer, including legal names, addresses, and company details if applicable
2. Background: Provides context for the sale and establishes the 'As Is' nature of the transaction
3. Definitions: Defines key terms used throughout the agreement, including 'As Is' and other relevant terms
4. Sale and Purchase: Outlines the basic agreement to sell and purchase the goods in their current condition
5. Price and Payment: Specifies the purchase price, payment terms, and method of payment
6. As Is Condition: Explicitly states that the goods are sold 'As Is' and details the limitations of warranties and representations
7. Delivery and Risk: Specifies delivery arrangements and when risk passes to the buyer
8. Inspection: Confirms buyer's right to inspect and acknowledgment of goods condition
9. Title Transfer: Establishes when and how title transfers to the buyer
10. Seller's Limited Obligations: Specifies the minimal obligations retained by the seller
11. General Terms: Standard contract provisions including governing law, entire agreement, and amendments
1. Intellectual Property: Required when the sale includes any intellectual property rights or licenses
2. Compliance with Laws: Needed when selling regulated goods or when specific compliance requirements exist
3. Confidentiality: Include when sensitive information is exchanged during the sale process
4. Insurance: Required for high-value items or when specific insurance arrangements are needed during transit
5. Export/Import Requirements: Include for international sales or when goods require special permits
6. Security Interests: Needed when there are existing security interests or liens on the goods
7. Installation: Include when the goods require specific installation procedures or requirements
1. Schedule 1 - Description of Goods: Detailed description of the goods being sold, including condition, specifications, and known defects
2. Schedule 2 - Price Breakdown: Itemized breakdown of the purchase price, including any deposits or installments
3. Schedule 3 - Inspection Report: Results of any pre-sale inspections or condition reports
4. Schedule 4 - Delivery Details: Specific delivery instructions, timing, and logistics arrangements
5. Schedule 5 - Existing Defects: List of known defects or issues with the goods being sold
6. Appendix A - Photographs: Visual documentation of the goods' condition at time of sale
7. Appendix B - Technical Specifications: Manufacturer's specifications or technical documentation for the goods
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