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Basic Buy Sell Agreement

Basic Buy Sell Agreement Template for New Zealand

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Key Requirements PROMPT example:

Basic Buy Sell Agreement

"I need a Basic Buy Sell Agreement for selling industrial equipment to a New Zealand company, with delivery scheduled for March 2025 and including installation requirements and technical specifications."

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Document background
The Basic Buy Sell Agreement serves as a standardized template for documenting straightforward sale and purchase transactions in New Zealand. This document is particularly useful for businesses and individuals engaging in the sale of goods where a clear, legally-compliant agreement is needed but the complexity of a full commercial contract isn't warranted. It incorporates key requirements under New Zealand law, including provisions from the Contract and Commercial Law Act 2017, Fair Trading Act 1986, and Goods and Services Tax Act 1985. The agreement is designed to protect both parties' interests while maintaining simplicity and ease of use, making it suitable for regular commercial transactions where the primary focus is on the basic elements of sale: identification of goods, price, payment terms, and delivery arrangements.
Suggested Sections

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

2. Background: Provides context for the agreement and summarizes the intention of the parties

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out interpretation rules

4. Sale and Purchase: Core agreement section detailing what is being sold and purchased

5. Purchase Price: Specifies the price and payment terms, including GST treatment

6. Delivery: Details of when, where, and how the goods will be delivered

7. Title and Risk: Specifies when title passes and who bears risk during transit

8. Warranties: Basic warranties about ownership, right to sell, and condition of goods

9. Default and Termination: Consequences of breach and circumstances for termination

10. General Provisions: Standard boilerplate clauses including notices, governing law, and dispute resolution

Optional Sections

1. Condition of Goods: Detailed section about the condition, used when selling specific or unique items

2. Intellectual Property: Include when the sale involves goods with associated IP rights

3. Confidentiality: Required when sensitive information will be exchanged

4. Installation: Include when seller is responsible for installing or setting up the goods

5. Training: Include when seller must provide training on use of goods

6. Maintenance and Support: Include for technical or complex goods requiring ongoing support

7. Insurance: Include when specific insurance requirements are needed during transit or installation

8. Security Interest: Include when payment is not made in full at time of delivery

Suggested Schedules

1. Schedule 1 - Description of Goods: Detailed description of goods being sold, including specifications and quantities

2. Schedule 2 - Price Schedule: Breakdown of prices if multiple items or payment installments are involved

3. Schedule 3 - Delivery Schedule: Detailed delivery timeframes and locations if multiple deliveries are involved

4. Schedule 4 - Warranty Terms: Detailed warranty terms and conditions if beyond basic warranties

5. Appendix A - Technical Specifications: Technical details and specifications of goods, if applicable

6. Appendix B - Care Instructions: Instructions for maintenance and care of goods, if applicable

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Retail

Manufacturing

Wholesale

Agriculture

Technology

Construction

Professional Services

Consumer Goods

Industrial Equipment

Small Business

E-commerce

Relevant Teams

Procurement

Sales

Legal

Operations

Commercial

Supply Chain

Administration

Contract Management

Finance

Relevant Roles

Procurement Manager

Sales Manager

Business Owner

Contract Administrator

Commercial Manager

Operations Manager

Purchase Officer

Sales Representative

Legal Counsel

General Manager

Small Business Owner

Supply Chain Manager

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

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