Protect Your Business by Using Business Purchase Agreement Template
Business purchase agreement template is very important and needed today. This is because a business purchase agreement is a contract that binds both seller and buyer regarding an object or thing that involves price and payment. It can protect seller and buyer if at a later date; there is a non-compliance with the transaction. Read the following information about the business purchase agreement as well as template.
What Should Be Included in A Business Purchase Agreement?
What is stated in the purchase agreement must be a concrete agreement. It must be something that can be followed and implemented. These things should also be effective and efficient in generating compliance.
The first thing that’s usually included in it is the terms of sale which state the conditions for the goods to be delivered to the buyer. The second is the provision regarding what matters, and what are not included in the selling price. The third is the guarantee from each party.
What Points Are Usually Included in Business Purchase Template?
There are several lists of points which are usually included in business purchase agreement template. These usually relate to the parties involved as well as the price of object and other agreements. These points are the date, the first part, the second part, the buyer, the seller, etc.
How Do I Write a Business Agreement?
If you want to create a simple business purchase agreement, follow the steps below.
- Write down the date of making the agreement. This date is very important as a proof of when the agreements and transactions were made. You can also add transaction stand for more solid evidence.
- Include information about the goods or objects. This information includes a description of property, the purchase price, and when the payment must be made. For the prices, use both numeric and letter formats to minimize errors.
- Provide an explanation regarding the shipping process of object. This should define how the process is going, including what expeditions to use. Don’t forget to inform from where the goods will be sent.
- The last one is signature as the most important part since it shows all parties have agreed. Signatures of both parties must be included. In addition, for purchases with a value above 1 million, a stamp must be added.
What Are Assets and Shares in A Business Purchase Agreement?
The assets included in a business purchase agreement are the trademark, inventory, all files and records, as well as the company’s good name. The ones that are not usually written are receivables and cash bank balances. Meanwhile, shares are usually in form of shares of the company being purchased.
Who Should Use a Purchase of Business Agreement?
Anyone who owns a business can use this business agreement. It doesn’t have to be a person with a big business or company; even startups can use it because business purchase agreement provides details on sales aspect.
In making the agreement, you must consider efficiency. In addition, you also have to make sure the agreement is easy to obey. Therefore, just use business purchase agreement template to make it simply.