Ƶ

As Is Purchase Agreement for Hong Kong

As Is Purchase Agreement Template for Hong Kong

A Hong Kong-governed As Is Purchase Agreement is a legally binding document used for the sale and purchase of assets in their current condition, without warranties or representations as to their quality or fitness for purpose. This agreement, compliant with Hong Kong law, explicitly transfers the risk to the buyer and limits the seller's liability. It includes detailed provisions about the asset's current state, price, payment terms, and completion requirements, while incorporating specific provisions required under Hong Kong legislation, particularly the Sale of Goods Ordinance and Control of Exemption Clauses Ordinance.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
As Is Purchase Agreement

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a As Is Purchase Agreement?

The As Is Purchase Agreement is commonly used in Hong Kong for transactions where assets are sold in their existing condition without warranties or representations from the seller. This document is particularly useful for sales of used equipment, property, or other assets where the buyer accepts the current condition and associated risks. The agreement provides protection for sellers by limiting their liability while ensuring buyers acknowledge they have inspected or had the opportunity to inspect the assets. It includes essential elements required under Hong Kong law, including clear identification of the assets, purchase price, payment terms, and explicit 'as is' disclaimers. This type of agreement is frequently used in commercial transactions where sophisticated parties understand and accept the risks involved in purchasing assets without warranties.

What sections should be included in a As Is Purchase Agreement?

1. Parties: Identifies and provides full details of the seller and buyer

2. Background: Contextual information about the transaction and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Sale and Purchase: Details the assets being sold and purchased 'as is' and the purchase price

5. 'As Is' Condition: Explicitly states that the purchase is in 'as is' condition and disclaims warranties

6. Purchase Price and Payment: Specifies the purchase price, payment terms, and payment method

7. Completion: Details the completion process, timing, and deliverables

8. Seller's Limited Representations: States the basic representations the seller makes about ownership and authority to sell

9. Buyer's Acknowledgments: Buyer's confirmation of understanding the 'as is' nature and acceptance of risks

10. Risk and Title: Specifies when risk and title pass to the buyer

11. Confidentiality: Obligations regarding confidential information

12. Governing Law and Jurisdiction: Specifies Hong Kong law and jurisdiction

13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

What sections are optional to include in a As Is Purchase Agreement?

1. Due Diligence: Include when buyer has conducted or will conduct due diligence investigations

2. Conditions Precedent: Include when completion is subject to certain conditions being met

3. Environmental Matters: Include for sales of property or businesses with potential environmental issues

4. Intellectual Property: Include when the sale involves any IP rights

5. Employee Matters: Include when the sale involves transfer of employees or employment-related liabilities

6. Tax Matters: Include when specific tax arrangements or allocations need to be addressed

7. Break Fee: Include when parties agree to compensation if the deal fails under specific circumstances

8. Post-Completion Obligations: Include when there are specific obligations after completion

What schedules should be included in a As Is Purchase Agreement?

1. Asset Schedule: Detailed description of all assets being sold

2. Excluded Assets: List of specific assets excluded from the sale

3. Known Defects: List of known issues or defects with the assets

4. Completion Requirements: Detailed list of documents and actions required at completion

5. Form of Transfer Documents: Templates of documents required to transfer title

6. Purchase Price Allocation: Breakdown of purchase price across different assets if applicable

7. Existing Liabilities: List of any liabilities that will transfer with the assets

8. Required Consents: List of third-party consents required for the transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Purchase Agreement

Cost

Free to use
Relevant legal definitions










Clauses


































Relevant Industries

Real Estate

Manufacturing

Industrial Equipment

Automotive

Technology

Retail

Wholesale Trade

Construction

Maritime

Aviation

Agriculture

Mining

Used Equipment

Art and Antiquities

Commercial Property

Industrial Property

Relevant Teams

Legal

Procurement

Finance

Operations

Commercial

Risk Management

Compliance

Business Development

Property Management

Asset Management

Sales

Contract Management

Relevant Roles

Legal Counsel

Commercial Director

Procurement Manager

Asset Manager

Operations Director

Chief Financial Officer

Risk Manager

Compliance Officer

Business Development Manager

Property Manager

Equipment Manager

Sales Director

Contract Manager

General Counsel

Company Secretary

Chief Executive Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Letter Of Intent To Pay

A Hong Kong law-governed formal written commitment acknowledging a debt and stating the intention to pay, including specific payment terms and conditions.

Download

Forward Purchase Agreement (Real Estate)

A Hong Kong law-governed agreement for the future purchase of real estate property that is under construction or yet to be completed.

Download

Outdoor Event Fire Risk Assessment

A Hong Kong-compliant fire risk assessment template for outdoor events, ensuring comprehensive fire safety measures and regulatory compliance.

Download

Automobile Purchase Agreement

A Hong Kong law-governed agreement for the sale and purchase of motor vehicles, detailing vehicle specifications, price, and ownership transfer terms.

Download

Land License Agreement

A Hong Kong-governed agreement granting temporary land use rights without transferring ownership, setting out terms, conditions, and obligations for both parties.

Download

Software Project Review

A Hong Kong law-governed agreement for conducting professional software project reviews, outlining terms, scope, and deliverables.

Download

Prenuptial Postnuptial Agreement

A Hong Kong law-governed agreement between spouses or intended spouses establishing financial rights, responsibilities, and property arrangements during marriage and upon divorce or death.

Download

Lost Parcel Complaint Letter

A formal complaint letter for lost parcels under Hong Kong jurisdiction, used to report missing items and seek compensation from postal service providers.

Download

Vital Records Authorization Form

A Hong Kong-compliant authorization form for requesting access to vital records such as birth, death, or marriage certificates, incorporating local data privacy requirements.

Download

Short Employment Contract

A streamlined employment agreement template compliant with Hong Kong employment law, covering essential terms and conditions of employment.

Download

Installment Promissory Note

A Hong Kong law-governed document evidencing a promise to pay a specified sum through structured installments, serving as both proof of debt and a negotiable instrument.

Download

Product Offer Letter

A formal product offer document compliant with Hong Kong law, detailing product specifications, pricing, and terms of sale.

Download

Price Offer Letter

A formal document used in Hong Kong business practice to present pricing information and commercial terms to potential customers.

Download

Artwork Purchase Agreement

A Hong Kong law-governed agreement for the sale and purchase of artwork, addressing ownership transfer, authenticity, and related terms.

Download

Securities Lending Agreement

A Hong Kong law-governed agreement establishing terms for securities lending transactions between financial institutions, including collateral arrangements and regulatory compliance requirements.

Download

Purchase Sale Contract

A Hong Kong law-governed agreement that documents the sale and purchase of goods between parties, establishing their rights and obligations.

Download

Purchase Money Trust Deed

A Hong Kong law-governed deed establishing a trust arrangement for property purchased with funds provided by a settlor, detailing the terms of property management and benefit distribution.

Download

Promissory Note Mortgage

A Hong Kong law-governed security document combining a promissory note with a mortgage over real property, securing the lender's interests through both debt acknowledgment and property security.

Download

Pre Partnership Agreement

A Hong Kong law-governed preliminary agreement setting out terms and conditions for exploring and negotiating a potential partnership between parties.

Download

Furnished Apartment Lease

Hong Kong law-governed lease agreement for furnished residential apartments, including comprehensive terms for furniture, appliances, and maintenance.

Download

Deferred Payment Contract

Hong Kong law-governed agreement establishing terms for deferred payment arrangements, including payment schedules, interest, and enforcement mechanisms.

Download

Cross Promotion Agreement

A Hong Kong-governed agreement establishing terms for collaborative promotional activities between parties, including marketing responsibilities and IP usage rights.

Download

Contingent Offer Employment

A Hong Kong-governed conditional employment agreement that establishes terms of employment subject to specific prerequisites being met.

Download

Client Exclusivity Agreement

A Hong Kong law-governed agreement establishing exclusive business arrangements between a service provider and client, defining exclusive rights and obligations.

Download

Contract For Property Management Services

A Hong Kong law-governed agreement establishing terms for professional property management services, compliant with PMSO and local regulations.

Download

Exclusive Provider Agreement

A Hong Kong law-governed agreement establishing an exclusive commercial relationship between a provider and customer for specified products or services.

Download

Agreement To Buy Property

A Hong Kong law-governed agreement for the sale and purchase of real property, setting out terms, conditions, and obligations of the transaction.

Download

Agreement For Sale And Purchase With Plan

A Hong Kong law-governed agreement for the sale and purchase of off-plan or under-construction properties, including construction specifications and completion timelines.

Download

Buy In Agreement

A Hong Kong law-governed agreement establishing terms and procedures for forced purchase of securities following a failed delivery obligation.

Download

Real Estate Offer Sheet

A Hong Kong-compliant document presenting a formal offer to purchase real estate, outlining key terms and conditions of the proposed transaction.

Download

Land Offer To Purchase

A Hong Kong-compliant document representing a formal offer to purchase real estate, outlining proposed terms and conditions for the property acquisition.

Download

Wholesale Joint Venture Agreement

A Hong Kong law-governed agreement establishing a joint venture for wholesale business operations, including management structure, operational procedures, and regulatory compliance.

Download

Quitting Letter

A Hong Kong law-compliant resignation letter formally notifying employment termination with notice period and final working day details.

Download

Short Form Promissory Note

A concise Hong Kong law-governed financial instrument containing a written promise to pay a specified sum of money under defined terms and conditions.

Download

Binding Mediation Agreement

A Hong Kong law-governed agreement establishing binding mediation terms between parties, including mediator appointment, process parameters, and settlement enforcement provisions.

Download

Membership Interest Pledge Agreement

A Hong Kong law-governed agreement creating security over membership interests in a company, typically used in financing transactions.

Download

Reverse Payment Agreement

A Hong Kong-law agreement settling pharmaceutical patent disputes through compensated delayed market entry arrangements, compliant with local competition and patent laws.

Download

Service Provision Agreement

A Hong Kong law-governed agreement establishing terms and conditions for professional service delivery between a service provider and client.

Download

Purchase Agreement Car Dealership

A Hong Kong law-governed agreement between a car dealership and buyer for the sale and purchase of a vehicle, incorporating local regulatory requirements and transaction terms.

Download

Purchase Contract For Home

A Hong Kong law-governed contract for the sale and purchase of residential property, detailing transaction terms and parties' obligations.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it