The Domain Sale Agreement is essential when transferring ownership of domain names in Singapore. This document is commonly used when businesses or individuals wish to acquire or sell domain names, whether for branding, investment, or strategic purposes. It ensures compliance with Singapore's Electronic Transactions Act and SGNIC requirements while protecting both parties' interests through clear transfer procedures and warranties. The agreement typically includes technical specifications, payment terms, and transfer processes, making it particularly important for high-value domain transactions or cases involving business-critical domains.
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Key Requirements PROMPT example:
Domain Sale Agreement
"I need a Domain Sale Agreement to sell my e-commerce website domain to a Singapore-based buyer for SGD 50,000, with payment to be made through an escrow service and transfer to be completed by March 2025."
1. Parties: Identification of seller and buyer with full legal details
2. Background: Context of the sale and current ownership status
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transfer including price and payment terms
5. Transfer Process: Detailed steps for domain transfer
6. Representations and Warranties: Seller's guarantees regarding ownership and domain status
7. Governing Law: Singapore law jurisdiction clause
1. Escrow Arrangements: Used for high-value transactions requiring third-party escrow services
2. Intellectual Property Rights: Additional IP transfer provisions for domains with associated trademarks or content
3. Non-Competition: Restrictions on seller's future activities for business-related domains
1. Domain Details Schedule: Technical details of domain including registration date, registrar information
2. Transfer Procedure: Step-by-step technical process for domain transfer
3. Due Diligence Results: Domain valuation and history documentation
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