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Product ID: NZ-COMbsl19

Purchase of business assets or hive-down

Not yet reviewed

The essence of this agreement is that seller gives no warranties so the buyer has little protection. What he sees is what he gets. The reason for the sale is not relevant.
The document is not the sale of a business as a going concern but of assets in a "break-up" situation.

For example, it might be used to sell:

  • plant and equipment
  • intellectual property such as a customer list or copyright
  • stock

Examples of use might be:

  • for a “hive-down” or any other sale by a liquidator or administrator or trustee in bankruptcy
  • a private sale where the seller will not give any warranty
  • to record an inter-company transfer within a group of companies - to distribute profit where you want it to arise or where a subsidiary is merging with its holding company.
  • where a business owner is closing a business
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Product ID: NZ-COMbsl20

Sale of used plant and machinery

Not yet reviewed

Use this agreement to buy or sell second hand plant, machinery or equipment.

This is for a one-off sale where seller is off-loading surplus assets and will give only limited warranties. It deals largely with making sure buyer obtains good tile and proper arrangements are made for payment and transfer of the plant to the buyer.

The document includes:

  • limited warranties as to merchantability and product quality but full transfer of title
  • provision for payment options, including by letter of credit
  • provision for delivery, transportation, including abroad
  • retention of title for incomplete payment
  • a list of accompanying documents, supporting software and other associated parts
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