The Intent To Sell Agreement serves as a crucial preliminary step in significant sale transactions under Singapore law. This document is typically used when parties have reached initial agreement on key terms but require time for due diligence, regulatory approvals, or financing arrangements before proceeding to a final sale agreement. The Intent To Sell Agreement includes essential details such as asset description, proposed price, timeline, and conditions precedent, while providing legal protection for both parties during the pre-sale period.
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Key Requirements PROMPT example:
Intent To Sell Agreement
"Need an Intent To Sell Agreement for my manufacturing equipment valued at SGD 2.5 million, with a 60-day due diligence period and completion targeted for March 2025, including specific conditions about technical inspection and transfer of maintenance contracts."
1. Parties: Identification and details of the seller and buyer
2. Background: Context of the intended sale and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of what is being sold
5. Purchase Price: Amount and payment terms
6. Timeline: Key dates and deadlines for the sale process
7. Conditions Precedent: Conditions that must be met before sale completion
1. Due Diligence: Terms for buyer's investigation rights - used for complex assets or business sales
2. Warranties: Seller's guarantees about the asset - used for high-value items or business sales
3. Regulatory Approvals: Required governmental or regulatory clearances - used when sale requires official approvals
1. Asset Description Schedule: Detailed technical or legal description of the sale item
2. Payment Schedule: Details of payment installments and timing
3. Due Diligence Checklist: List of documents and information to be provided
4. Form of Transfer Documents: Templates of documents required for final transfer
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