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Buy Sell Agreement Form Template for New Zealand

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Key Requirements PROMPT example:

Buy Sell Agreement Form

"I need a Buy Sell Agreement Form for the purchase of a small retail business in Auckland, New Zealand, including inventory and existing customer contracts, with completion scheduled for March 2025."

Document background
The Buy-Sell Agreement Form is a crucial legal document used in New Zealand commercial transactions when one party wishes to sell and another to purchase assets, shares, or a business. This document is essential for both small and large-scale transactions, providing a legally binding framework that complies with New Zealand's commercial law requirements. It includes detailed provisions for the transfer of ownership, payment terms, warranties, and protections for both parties. The agreement becomes particularly important in complex transactions where clear documentation of terms, conditions, and obligations is necessary to prevent future disputes. It should be tailored to specific transaction requirements while maintaining compliance with New Zealand's Contract and Commercial Law Act 2017 and other relevant legislation.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including their legal status and contact details

2. Background: Sets out the context and purpose of the agreement, including brief description of the business/assets being transferred

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpretation

4. Sale and Purchase: Core provision detailing what is being sold and purchased, including any exclusions

5. Purchase Price: Specifies the purchase price, payment terms, and any adjustments

6. Completion: Details the completion process, including timing, location, and requirements

7. Seller's Warranties: Warranties given by the seller regarding the asset/business being sold

8. Buyer's Warranties: Warranties given by the buyer, typically regarding capacity to complete the purchase

9. Pre-Completion Obligations: Obligations of both parties between signing and completion

10. Confidentiality: Provisions regarding confidential information and its protection

11. Notices: Specifies how formal notices under the agreement must be given

12. General Provisions: Standard boilerplate clauses including governing law, dispute resolution, etc.

Optional Sections

1. Third Party Rights: Required when third parties have rights or obligations under the agreement

2. Employee Matters: Needed when the sale involves transfer of employees

3. Intellectual Property: Required when IP assets are part of the sale

4. Post-Completion Obligations: Used when there are ongoing obligations after completion

5. Non-Competition: Include when restricting seller's future competitive activities

6. Tax Indemnities: Required for complex transactions with specific tax implications

7. Environmental Matters: Needed when environmental liabilities are a concern

8. Property Matters: Required when real property is involved in the sale

Suggested Schedules

1. Schedule 1 - Assets: Detailed list of assets included in the sale

2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale

3. Schedule 3 - Purchase Price Calculation: Detailed breakdown of purchase price components and adjustments

4. Schedule 4 - Completion Obligations: Checklist of documents and actions required at completion

5. Schedule 5 - Warranties: Detailed warranties given by the seller

6. Schedule 6 - Disclosed Matters: List of matters disclosed against the warranties

7. Appendix A - Form of Transfer Documents: Templates for transfer documentation

8. Appendix B - Power of Attorney: Form of power of attorney if required

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


































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Relevant Industries

Retail

Manufacturing

Professional Services

Technology

Real Estate

Agriculture

Hospitality

Construction

Healthcare

Transport and Logistics

Education

Mining and Resources

Financial Services

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Commercial Operations

Risk Management

Compliance

Business Development

Executive Leadership

Corporate Secretariat

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Commercial Lawyer

Legal Counsel

Chief Financial Officer

Finance Director

Business Development Manager

Mergers & Acquisitions Manager

Company Secretary

Corporate Advisor

Investment Manager

Business Broker

Commercial Director

Operations Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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