Details for Drafting a Business Sale Contract

BUSINESS BROKER (Agent) (if applicable)

Name *

Telephone Number

Address *

Contact Person

Email Address *

SELLER

Full names and surname (or full company name):

Seller ABN

Full names of directors (if company):

Postal Address

Telephone Number

Email Address

Solicitor Firm Name

Contact Person

Firm Address

Telephone Number

Email Address

Accountant Firm Name

Contact Person

Address

Telephone Number

Email Address

BUYER

Full names and surname (or full company name):

Buyer ABN

Full names of directors (if company):

Postal Address

Telephone Number

Email Address

Guarantor(s) full name(s) (if company or trust)

Postal Address

Telephone Number

Email Address

Solicitor Firm Name

Contact Person

Firm Address

Telephone Number

Email Address

Accountant Firm Name

Contact Person

Address

Telephone Number

Email Address

THE BUSINESS

Type of Business

Physical Address of the Business

Postal Address of the Business

Trading Name

Registered Business Name

Registration Number

Trade Mark Registration (if any)

Business Phone Number

Business Email Address

Website

Domain Name

Social media platforms

Licences, permits, patents, certificates and consents necessary to operate the business

Please list all relevant items

Purchase Price

Price

Deposit

Deposit holder

Deposit due date

Stock in Trade

Will there be a stocktake?

YesNo

What is the estimated stock figure?

What is the maximum amount of stock that the buyer will take?

Will the stock be walk in walk out?

Plant and Equipment

Please supply a list of all unencumbered plant and equipment sold with the business (or upload a copy below)

Upload list of unencumbered equipment

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Please supply a list of all leased plant and equipment sold with the business (or upload a copy below)

Upload list of leased equipment

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Please supply a list of all Plant and Equipment that are sold subject to a Rental agreement (or upload a copy below)

Upload list of equipment subject to rental agreement

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Note: The list(s) of plant and equipment should reflect the position of the buyer after settlement meaning the items listed in leased equipment section will still be leased by the buyer after settlement and the buyer is required to take over the lease. If the lease will be paid out in full at settlement then the item should be listed under the unemcumbered equipment section or a special condition should be added to the contract.

Apportionment of Purchase Price

Which amount of the purchase price reflects assets?

Which amount represents good will?

Estimated stock in trade (if relevant)

Estimated work in progress (if relevant)

Date and place of settlement of the contract

Date

Place

Finance Date

Finance Date (if relevant)

Lease of the Business Premises

Is the buyer taking over the seller’s current lease?

YesNo

Upload a copy of the current lease

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Current rent payable under the lease

When will the rent be reviewed?

Are there any further option periods in the lease?

Is the buyer negotiating a new lease

YesNo

Who will the Tenant be under the new lease?

Term of the new lease

Commencement Rent payable under the new lease

Rent review dates

Options to be included

Period of Sellers Assitance

Will the seller assist the purchaser with the new business

YesNo

For what period before settlement of the contract

For what period after settlement of the contract

Will there be conditions attached to this assistance

Restriction of competition

Will the Seller be prohibited from conducting a similar business

YesNo

For what period of time

For what area

Employees

Please write a list of the employees detailing their commencement, salary and position (or upload a copy below)Full names including surname, date of commencement, wage/salary, position

Upload list of employees and their details

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Goods and services tax

Is this a sale of a Going Concern?

Is GST included in the purchase price?

Is GST to be excluded in the purchase price and to be added at settlement?

Special conditions

Who is to have risk of business until completion

Please name any special conditions you may wish to include in the contract. Any specific concerns must be listed here for discussion

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