Buying or selling a business can be one of the biggest financial transactions you will make in your lifetime. It involves many steps spanning from the heads of the agreement, due diligence, negotiating the terms of the sale agreement, to signing, and completion. Depending on whether you are buying or selling, there are various legal issues you may need to consider.
At Amity Legal, we provide an array of Business Sale-related services, including Business Sale Agreements, Share Sale Agreements, Vendor Finance Agreements and more.
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Amity Legal specialises in the following areas of Buying and Selling a Business services:
Selling a Business
An Agreement for the sale and purchase of business is an important legal document as it sets out the key terms that parties have agreed upon, such as the purchase price, the assets included in the sale, the completion date, trading stock sum, training period (if applicable), restraint time and distance (if applicable), and other key provisions that echo the details of the agreement. As a buyer, the Agreement is important for you to confirm that it sets out in detail the complete asset list you are purchasing and to ensure that the seller has provided you with adequate warranties. As a seller, it is important for you get legal assistance in drawing up the Agreement so that you understand your rights and potential liabilities that may survive the completion of the deal.
At Amity Legal, our team has voluminous experience in negotiating and executing transactions pertaining to buying or selling a business. While safeguarding your interests, saving your time and money, and reducing risk, our proactive and collaborative approach confirms complete commitment from start to finish and we will go the extra mile to make sure we get your job done with best commercial outcomes.
Get StartedShare Sale Agreement
Shareholders may decide to dispose of all or part of their shares in a company wherein the shares are offered to other shareholders (or to external third parties if the shares were not acquired by other shareholders) for an amount of money. A Share-Sale agreement validates the transfer of share ownership from one shareholder to another (or to external third parties as the case may be). The Share- Sale Agreement outlines a number of key provisions such as the number of shares being sold, the selling price, the obligations relating to the sale, pre-sale conditions, seller’s warranties and indemnities, restrictive covenants and non-compete clauses, remedies in the event of default, variations and waivers, notices and completion arrangements.
Every transaction is unique depending on the circumstances. It is vital to have an experienced lawyer on your side to ensure the agreement is tailored to your circumstances. If you would like assistance with your Share-Sale Agreement, call us today on 0410 514 004.
Get StartedBuying a Business
An Agreement for the sale and purchase of business is an important legal document as it sets out the key terms that parties have agreed upon, such as the purchase price, the assets included in the sale, the completion date, trading stock sum, training period (if applicable), restraint time and distance (if applicable), and other key provisions that echo the details of the agreement. As a buyer, the Agreement is important for you to confirm that it sets out in detail the complete asset list you are purchasing and to ensure that the seller has provided you with adequate warranties. As a seller, it is important for you get legal assistance in drawing up the Agreement so that you understand your rights and potential liabilities that may survive the completion of the deal.
At Amity Legal, our team has voluminous experience in negotiating and executing transactions pertaining to buying or selling a business. While safeguarding your interests, saving your time and money, and reducing risk, our proactive and collaborative approach confirms complete commitment from start to finish and we will go the extra mile to make sure we get your job done with best commercial outcomes.
Get StartedVendor Finance Agreement
A Vendor Finance Agreement is an agreement between a buyer and a seller, whereby the seller assists the buyer with funding all or part of the purchase price. Typically, the buyer pays a portion of the purchase price at settlement, and at which stage the ownership is transferred to the buyer. The buyer then pays the balance amount at a later agreed date. Usually in such agreements, the vendor charges interest on the outstanding amount and may also require some form of security or guarantee such as a mortgage covering business assets (chattel mortgage), a charge over the assets of the buyer’s company (general security agreement) or a mortgage over property owned by the buyer.
There are many financial risks involved in a Vendor Finance Agreement especially if the purchaser defaults on its repayments. Therefore, it is important that you should weigh these risks against the potential benefits with legal assistance.
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