Description

This legal agreement provides for the sale of a determined set of assets of your existing business to a third party without selling the shares in their entirety. You should seek tax advice on the implications of the sale of your business assets to a third party.  This agreement contains, inter alia, provisions relating to: i) Purchase price; ii) VAT and tax provisions; iii) The relevant completion provisions; iv) Warranties; and v) Breach provisions.  More specifically, you need to ensure that the following are dealt with in a Sale of Business Agreement (these are covered in this Agreement): a) How employees will be transferred; b) How existing contracts will be treated; and c) The exact nature and description of the fixed and movable assets to be included or excluded from the sale of the business; d) Working capital.