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Commercial Purchase Agreement for Singapore

Commercial Purchase Agreement Template for Singapore

A comprehensive legal agreement governed by Singapore law that establishes the terms and conditions for the purchase and sale of goods between commercial entities. The agreement incorporates provisions compliant with Singapore's Sale of Goods Act and Contract Law, covering aspects such as price, delivery, warranties, and risk transfer. It provides legal protection for both parties while ensuring clarity in commercial transactions within Singapore's legal framework.

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Commercial Purchase Agreement

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What is a Commercial Purchase Agreement?

The Commercial Purchase Agreement is a fundamental legal document used in Singapore business transactions for the purchase and sale of goods between commercial entities. It ensures compliance with Singapore's legal requirements, particularly the Sale of Goods Act and Contracts Act, while providing a structured framework for commercial transactions. This agreement is essential when businesses need to document the terms of sale, including price, delivery terms, warranties, and risk allocation. It's particularly relevant for transactions involving substantial value or recurring business relationships where detailed terms need to be clearly documented.

What sections should be included in a Commercial Purchase Agreement?

1. Parties: Identification and details of contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Purchase Price and Payment Terms: Price, payment schedule, and payment methods

5. Delivery Terms: Delivery arrangements, timing, and logistics

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

7. Warranties: Product quality and performance guarantees

8. Termination: Conditions for contract termination

9. Governing Law: Applicable law and jurisdiction (Singapore)

What sections are optional to include in a Commercial Purchase Agreement?

1. Intellectual Property: IP rights provisions, used when goods involve intellectual property rights

2. Confidentiality: Non-disclosure obligations and protection of sensitive information

3. Force Majeure: Provisions for unforeseen circumstances and events beyond parties' control

4. Insurance: Insurance requirements and obligations for high-value goods

What schedules should be included in a Commercial Purchase Agreement?

1. Product Specifications: Detailed technical and commercial specifications of goods being purchased

2. Pricing Schedule: Detailed breakdown of prices, payment terms, and any volume-based pricing

3. Delivery Schedule: Detailed delivery timelines, locations, and logistics requirements

4. Quality Standards: Specific quality requirements, standards, and testing procedures

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 | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Cost

Free to use
Relevant legal definitions























Clauses






























Industries

Sale of Goods Act (SOGA): Primary legislation governing sale of goods transactions, including implied terms about quality and fitness, transfer of title and risk, and rights and remedies of buyers and sellers

Contracts Act (Cap. 53): Fundamental law governing contract formation, including principles of offer, acceptance, consideration, and intention to create legal relations

Electronic Transactions Act: Legislation governing electronic transactions, including provisions for electronic signatures and records in commercial agreements

Consumer Protection (Fair Trading) Act: Law protecting consumer interests and ensuring fair trading practices, applicable when one party is a consumer

Unfair Contract Terms Act: Legislation controlling the use of exclusion clauses and establishing reasonableness tests for contract terms

Goods and Services Tax Act: Tax legislation governing GST obligations and registration requirements in commercial transactions

Regulation of Imports and Exports Act: Law governing import and export regulations in supply chain operations

Customs Act: Legislation governing customs requirements and procedures for international trade transactions

Personal Data Protection Act (PDPA): Law governing the collection, use, and disclosure of personal data in commercial transactions

Doctrine of Privity of Contract: Legal principle stating that only parties to a contract can enforce its terms or obligations

Parol Evidence Rule: Legal principle preventing parties from introducing external evidence to modify or contradict written contract terms

Contra Proferentem Rule: Legal principle stating that ambiguous contract terms should be interpreted against the party who drafted them

Doctrine of Frustration: Legal principle dealing with situations where contract performance becomes impossible due to unforeseen circumstances

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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