Business Transfer Agreement
Use this business transfer agreement to transfer ownership of a business. It is suitable for use by an individual, partnership or company.
Business Transfer Agreement Template
The Business Transfer Agreement is very similar to an asset sale agreement because it is used when selling the business and assets of a business as a going concern. The Business Transfer Agreement is commonly used for the transfer of lower value businesses or where the buyer is very familiar with the business and detailed warranties are not required.
The agreement is a comprehensive short form agreement suitable for transferring a business from an individual, partnership or company to another individual, company or partnership. The agreement can be used to transfer any type of business and includes clauses for the transfer of employees where needed. If you are selling or buying a business which involves the transfer of employees we recommend that you take professional advice as there are very detailed rules arising under the Transfer of Undertakings Regulations.
Using our Business Transfer Agreement
Our template Business Transfer Agreement can be easily customised and comes with a range of optional clauses.
Clauses in our Business Transfer Agreement
The following clauses and Schedules are included in the agreement:
1. Definitions and interpretation
2. Transfer of the Business
3. Debts and liabilities
7. Appointment of the Company as attorney
9. Service Agreements
10. Lease of the Property
Our Business and Employment Documents sections contain a variety of documentation necessary for running a small business. We also have a selection of useful guides and articles in our Law Library, including our Guide to Settling Business Debts after Ceasing to Trade.
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