This document is a guideline completion agenda for the settlement of the sale of a business, by way of an asset sale.
It identifies the materials to be handed over by each party at completion. Parties should review the specific clauses in the business sale agreement, which should identify materials required at handover. However, checklist in this precedent may also identify further materials required, as well as certain post completion activities.
This precedent can be used in conjunction with the precedent “Business sale agreement – sale of assets”.
Using this precedent
This precedent will serve as a guide to the sorts of matters which will need to be considered by parties and their advisers at the various stages of the transaction. It will provide guidance as to the sorts of matters that may need to be included in the relevant contract.
This precedent should be carefully reviewed and amended as appropriate, in light of the circumstances of the transaction. Revenue implications (especially stamp duty and income tax) will affect a large number of aspects of the transaction, and these should be the subject of separate consideration in each case.
This document has been authored for Lexis Nexis by Jemery Kriewaldt, Partner, Atanaskovic Hartnell and updated by Rosalyn Gladwin, Principal, Gladwin Legal.
This document is prepared with the assistance of Specialist Editor Murray Landis, Partner, K&L Gates.