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Intent To Sell Agreement

Intent To Sell Agreement Template for Singapore

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Key Requirements PROMPT example:

Intent To Sell Agreement

"Need an Intent To Sell Agreement for my manufacturing equipment valued at SGD 2.5 million, with a 60-day due diligence period and completion targeted for March 2025, including specific conditions about technical inspection and transfer of maintenance contracts."

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Document background
The Intent To Sell Agreement serves as a crucial preliminary step in significant sale transactions under Singapore law. This document is typically used when parties have reached initial agreement on key terms but require time for due diligence, regulatory approvals, or financing arrangements before proceeding to a final sale agreement. The Intent To Sell Agreement includes essential details such as asset description, proposed price, timeline, and conditions precedent, while providing legal protection for both parties during the pre-sale period.
Suggested Sections

1. Parties: Identification and details of the seller and buyer

2. Background: Context of the intended sale and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Subject Matter of Sale: Detailed description of what is being sold

5. Purchase Price: Amount and payment terms

6. Timeline: Key dates and deadlines for the sale process

7. Conditions Precedent: Conditions that must be met before sale completion

Optional Sections

1. Due Diligence: Terms for buyer's investigation rights - used for complex assets or business sales

2. Warranties: Seller's guarantees about the asset - used for high-value items or business sales

3. Regulatory Approvals: Required governmental or regulatory clearances - used when sale requires official approvals

Suggested Schedules

1. Asset Description Schedule: Detailed technical or legal description of the sale item

2. Payment Schedule: Details of payment installments and timing

3. Due Diligence Checklist: List of documents and information to be provided

4. Form of Transfer Documents: Templates of documents required for final transfer

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
Relevant legal definitions

























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Industries

Civil Law Act (Cap. 43): Primary legislation governing contract law in Singapore, establishing fundamental principles of contract formation and enforcement

Residential Property Act (Cap. 274): Regulates the purchase of residential properties in Singapore, particularly restrictions on foreign ownership

Sale of Goods Act (Cap. 393): Governs transactions involving the sale of goods, defining rights and obligations of buyers and sellers

Land Titles Act (Cap. 157): Regulates the registration and transfer of land titles in Singapore, crucial for real estate transactions

Consumer Protection (Fair Trading) Act (Cap. 52A): Protects consumer interests and ensures fair trading practices in commercial transactions

Unfair Contract Terms Act (Cap. 396): Restricts the use of unfair terms in contracts and provides protection against unreasonable contract conditions

Housing Developers (Control and Licensing) Act: Regulates housing developers and provides protection for homebuyers in Singapore

Sale of Food Act: Governs the sale of food products and ensures food safety standards in commercial transactions

Medicines Act: Regulates the sale and distribution of medicinal products and pharmaceutical goods

Stamp Duties Act (Cap. 312): Governs the imposition of stamp duties on documents relating to property and share transfers

Goods and Services Tax Act (Cap. 117A): Regulates the application of GST on commercial transactions in Singapore

Income Tax Act (Cap. 134): Governs taxation implications of commercial transactions and property disposals

UN Convention on Contracts for International Sale of Goods (CISG): International treaty governing cross-border sale of goods, applicable if transaction has international elements

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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