AUSTRALIA

Sell the assets, goodwill and inventory of an Australian business with this template Agreement for Sale of a Business.

• The business is being sold as a going concern.
• The balance of the purchase price, after the down payment and earnest money deposit, will be secured by a promissory note which is included in the package.
• The seller makes certain representations and warranties regarding the business and its operations, including compliance with all applicable laws.
• The buyer covenants to treat all information as confidential, and to carry sufficient hazard and liability insurance until the promissory note is paid in full.
• The sale is conditional upon the buyer being provided with, and being satisfied with, information and records of the business.

You can pay a solicitor a lot of money to prepare your paperwork. Or you can save money by downloading the Australia Agreement for Sale of Business.

Sell of the shares of an Australian corporation to a purchaser under the terms of this Share Purchase Agreement which includes State-specific trade restraint clauses.

• If required by the purchaser, the parties will jointly conduct a stocktaking of the business before completion of the transaction.
• Any disputes with respect to the stocktaking will be referred to an expert valuer.
• The vendor is liable to pay the amount of any loss arising from a reduction in the value of the company's assets, an increase in the liabilities, or any breach of the vendor's warranties.
• There is no liability in respect of trade debts which are paid in full on or before completion, or within 12 months after they become due.
• The vendor agrees to encourage the company's clients to use the company's goods and services, and must provide assistance in relation to the ongoing business of the company.
• Both parties are bound by ongoing confidentiality provisions which will survive the closing.
• Available as a downloadable MS Word document.
• Intended to be used only within Australia.

Prepare a contract for the sale of a business with this easy downloadable template for the State of Victoria.

• The Contract is subject to a 3-day cooling off period during which the Contract may be canceled if the purchaser does not receive independent legal advice or if a similar contract has been entered into between the parties.
• The Contract is also conditional upon the purchaser obtaining sufficient financing to complete the purchase.
• The vendor will transfer the existing lease or negotiate a new lease for the premises, and obtain approvals as required from the landlord and any mortgagee.
• If the parties are unable to agree on the value of the stock, they will submit the determination to an independent stocktaker.
• If the purchaser defaults in payment, the vendor may immediately sue for the unpaid amount.
• If a dispute arises, neither party is at liberty to commence legal proceedings until the parties have attempted to resolve the dispute through mediation.
• Available in MS Word format.
• Intended to be used only in the State of Victoria, Australia.

A seller of a business in the State of Victoria must provide the purchaser with this Statement by a Vendor of a Small Business, under Section 52 of the Estate Agents Act 1980.

• A small business is defined as one in which all of the goodwill, plant, equipment and fittings being sold have a total price of $350,000 or less.
• This is Form 2, Regulation 7, Estate Agents (General, Accounts and Audit) Regulations 2008.
• This is a free downloadable form in MS Word format, provided by the Government of Victoria.