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Document Overview

A Term Sheet - Sale of Business sets out the general idea of the agreement before you proceed to the full agreement. This document is intended to be used as a pre cursor agreement to a Business Sale Agreement. Term Sheet - Sale of Business gives you an overview of the potential agreement in purchasing a business or selling your business. This overview is helpful in conducting your due diligence, and is useful in negotiating a better deal for both parties. It makes it easier for both parties to later reach an agreement, and hopefully lead to a sale of the business.  

Use this Term Sheet - Sale of Business if:

  • You are looking to purchase a business, and would like to set out some general terms as an overview and/or for negotiation.

What does the Term Sheet - Sale of Business cover?

  • The parties to the agreement;
  • The assets included in the purchase price;
  • The assets excluded in the purchase price;
  • The liabilities of both parties;
  • The completion date;
  • The purchase price;
  • The payment terms;
  • Any conditions precedent, warranties, costs included;
  • Confidentiality clause; and
  • Option to be binding.

Other names for Term Sheet - Sale of Business include:

  • Sale of Business Pre-Nup; and
  • Heads of Agreement to Sale of Business.
  • Icon Australiasuitable for all Australian states and territories
  • Calendarlast updated December 2014
  • Stopwatchunder 5 minutes
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