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Sell Agreement
"I need a Sale Agreement for my manufacturing company to sell industrial machinery worth ₦50 million to a Lagos-based construction company, with delivery scheduled for March 2025 and payment in three installments."
1. Parties: Identifies and provides full details of the seller and buyer, including registration details for companies or identification for individuals
2. Background: Sets out the context of the sale and brief description of the transaction
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Core terms of the sale including description of goods, quantity, and price
5. Payment Terms: Details of payment including amount, method, and timing
6. Delivery: Specifications for delivery including timing, location, and responsibility for costs
7. Title and Risk: When and how title passes to the buyer and allocation of risk
8. Warranties and Representations: Warranties regarding the goods and general representations by both parties
9. Termination: Circumstances under which the agreement can be terminated and consequences
10. Governing Law and Jurisdiction: Confirms Nigerian law governs and specifies jurisdiction for disputes
11. Entire Agreement: Confirms the agreement represents the entire understanding between parties
12. Execution: Signature blocks and execution formalities
1. Quality Inspection: Used when buyer requires right to inspect goods before acceptance
2. Insurance: Include when specifying insurance requirements during transit or storage
3. Intellectual Property: Required when sale involves branded goods or licensed products
4. Confidentiality: Include when transaction involves sensitive commercial information
5. Force Majeure: Optional protection against unforeseen events preventing performance
6. Assignment: Include if parties want to restrict or permit transfer of rights
7. Export/Import Requirements: Required for international sales or regulated goods
8. VAT and Tax Provisions: Detailed tax terms when transaction has specific tax implications
1. Schedule 1 - Description of Goods: Detailed specifications, quantities, and technical details of goods being sold
2. Schedule 2 - Price List: Detailed breakdown of prices, especially for multiple items or varying quantities
3. Schedule 3 - Delivery Schedule: Detailed delivery timelines, especially for multiple shipments
4. Schedule 4 - Quality Standards: Technical specifications and quality requirements
5. Schedule 5 - Warranty Terms: Detailed warranty terms and procedures
6. Appendix A - Required Documentation: List of documents required for the transaction (e.g., certificates of origin, quality certificates)
7. Appendix B - Testing Procedures: Details of any required testing or inspection procedures
Authors
Retail
Manufacturing
Agriculture
Technology
Consumer Goods
Industrial Equipment
Automotive
Electronics
Textiles
Food and Beverage
Construction Materials
Medical Supplies
Energy
Mining
Legal
Commercial
Procurement
Sales
Operations
Finance
Compliance
Supply Chain
Risk Management
Business Development
Contract Administration
Legal Counsel
Commercial Director
Procurement Manager
Sales Manager
Contract Administrator
Business Development Manager
Operations Manager
Finance Manager
Compliance Officer
Supply Chain Manager
Trade Finance Manager
Risk Manager
Chief Commercial Officer
General Manager
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