The As Is Purchase Agreement under Belgian law is designed for transactions where assets are sold in their present condition without traditional warranties. This document type is commonly used in situations where the seller wants to limit their liability regarding the condition of the asset being sold, while the buyer accepts the associated risks after having the opportunity to inspect the asset. The agreement must comply with Belgian Civil Code requirements, particularly regarding property transfer and mandatory warranties that cannot be disclaimed. It's especially relevant for second-hand goods, industrial equipment, real estate, or other assets where the condition may not be perfect but is accepted by the buyer. The document includes detailed descriptions of the asset's condition, known defects, and explicit acknowledgments from the buyer regarding the 'as is' nature of the purchase.
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1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration numbers if applicable
2. Background: Context of the sale and brief description of the asset(s) being sold
3. Definitions: Key terms used throughout the agreement, including 'As Is' definition
4. Object of Sale: Detailed description of the asset(s) being sold in their current condition
5. Purchase Price and Payment: Purchase price, payment terms, method of payment, and timing
6. As Is Nature of Sale: Express provisions stating the asset is sold 'as is' with all faults and existing conditions
7. Seller's Limited Representations: Basic representations about ownership and authority to sell
8. Disclaimer of Warranties: Express disclaimer of warranties except those that cannot be waived under Belgian law
9. Transfer of Title and Risk: Timing and process for transfer of ownership and risk to the purchaser
10. Closing and Delivery: Details of the closing process and delivery arrangements
11. Taxes and Costs: Allocation of transfer taxes, registration duties, and other transaction costs
12. Governing Law and Jurisdiction: Confirmation of Belgian law as governing law and jurisdiction for disputes
13. Entire Agreement: Integration clause confirming the agreement represents the entire understanding between parties
1. Due Diligence: Section describing any due diligence performed or expressly waived by purchaser - include when purchaser has conducted pre-purchase inspections
2. Environmental Matters: Specific provisions regarding environmental conditions - include for real estate or industrial equipment sales
3. Intellectual Property: IP-related provisions - include when the asset includes or involves IP rights
4. Regulatory Compliance: Specific regulatory requirements - include for regulated assets or industries
5. Security Interests: Provisions regarding existing liens or encumbrances - include when relevant to the asset
6. Post-Closing Obligations: Any continuing obligations after closing - include when necessary for transaction completion
7. Force Majeure: Force majeure provisions - include for transactions with delayed closing
8. Confidentiality: Confidentiality provisions - include for sensitive commercial transactions
9. Break-up Fee: Provisions for termination fees - include in high-value transactions
1. Asset Description Schedule: Detailed technical description of the asset(s) being sold
2. Known Defects Schedule: List of known defects or issues with the asset(s)
3. Title Documents: Copies of relevant title documents or registration certificates
4. Existing Third-Party Rights: Details of any existing third-party rights affecting the asset
5. Payment Schedule: If payment is in installments, detailed payment schedule
6. Delivery Protocol: Specific procedures for delivery or transfer of the asset
7. Photographs: Visual documentation of the asset's current condition
8. Maintenance Records: Historical maintenance records if available
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Industrial Equipment
Automotive
Construction
Agriculture
Technology
Machinery
Used Equipment Trading
Asset Management
Logistics
Retail
Relevant Teams
Legal
Procurement
Sales
Business Development
Risk Management
Compliance
Operations
Property Management
Contract Administration
Due Diligence
Relevant Roles
Legal Counsel
Contract Manager
Procurement Manager
Sales Director
Business Development Manager
Asset Manager
Risk Manager
Corporate Lawyer
Commercial Director
Operations Manager
Property Manager
Compliance Officer
Due Diligence Specialist
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