A purchase of assets allows a buyer to choose exactly what assets they are buying and to identify precisely which liabilities they wish to assume. These agreements are non-refundable and non-transferable. If you need changes or questions, please contact us before you download. By clicking on the button below, I agree with the terms and conditions of sale. Free Agreement on the Disposal of Intellectual Property Rights Note: Consider adding asset classes – in particular intellectual property, leases, supplier agreements, inventories, in-process inventory, local/public operating authorizations (if transferable). This is an extremely simple asset sale contract, which should only serve as an example for discussion purposes. You should consult your accountant and an appropriate form of agreement for your circumstances, including taking into account the facts and circumstances of your transaction. The agreement must clearly state the names of the parties between whom the agreement is concluded. These include a seller (or transfer) and a buyer (or buyer).
It is worth mentioning the date on which the agreement was reached, as well as the area in which the agreement is enforceable. Any other form of dispute resolution, such as mediation, can also be mentioned in the agreement. The agreement must clearly specify which assets will be transferred. Assets transferred under a capital agreement may include investments and machinery, inventory, contracts, premises, know-how and goodwill. In the event of an asset purchase, the buyer may choose only certain assets and leave redundant assets. Therefore, the selected facilities must be broken down according to a schedule of the agreement. In general, capital transfer agreements have a clause that talks about what action to take when a party to the agreement violates the terms of the above agreement. A compromise clause is present in most agreements and stipulates that if a clause of the agreement is violated or if a dispute arises with respect to the terms of the agreement, the matter will be settled by arbitration. The clause mentions where the arbitration will take place, that is, the seat of arbitration, the language in which the proceedings are conducted and the manner in which arbitrators are appointed. The agreement may also mention that all disputes arising from the agreement fall within the exclusive jurisdiction of a particular jurisdiction.
An asset transfer contract is required when a company`s assets must be sold or transferred to another person. This is necessary for a company if it is willing to acquire the assets of another company and to define the terms and conditions.