Simple Purchase And Sale Agreement for United Arab Emirates

Simple Purchase And Sale Agreement Template for United Arab Emirates

A comprehensive legal document governed by UAE law that facilitates the transfer of ownership of goods or assets from a seller to a buyer. This agreement outlines the essential terms of the transaction including price, payment terms, delivery conditions, and warranties, while ensuring compliance with UAE Civil Code requirements and commercial regulations. The document incorporates necessary provisions for both commercial and civil transactions, featuring clear terms for title transfer, risk allocation, and dispute resolution under UAE jurisdiction.

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What is a Simple Purchase And Sale Agreement?

The Simple Purchase And Sale Agreement is a fundamental commercial document used in the United Arab Emirates for documenting the transfer of goods or assets between parties. This agreement is designed to comply with UAE Civil Code (Federal Law No. 5 of 1985) and Commercial Transactions Law (Federal Law No. 18 of 1993), making it suitable for both business-to-business and business-to-consumer transactions. The document is commonly used for straightforward sales transactions where parties need to clearly document the terms of sale, payment conditions, delivery requirements, and warranties. It includes provisions that address specific UAE legal requirements, such as compliance with Sharia principles and local commercial practices, while maintaining flexibility to accommodate various types of goods and transaction structures.

What sections should be included in a Simple Purchase And Sale Agreement?

1. Parties: Identification of buyer and seller with full legal names and addresses

2. Background: Context of the transaction and brief description of what each party wishes to achieve

3. Definitions: Key terms used throughout the agreement

4. Sale and Purchase: Core transaction terms including description of goods/assets being sold and purchased

5. Purchase Price: Amount, currency, and payment terms

6. Delivery: Timing, location, and method of delivery

7. Title and Risk: When ownership and risk transfers from seller to buyer

8. Warranties: Standard warranties regarding ownership, quality, and condition of goods

9. Termination: Circumstances under which the agreement can be terminated

10. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

11. Notices: How formal communications between parties should be made

12. Entire Agreement: Confirmation that this document represents the complete agreement between parties

What sections are optional to include in a Simple Purchase And Sale Agreement?

1. Condition Precedents: Used when completion is subject to certain conditions being met

2. Inspection Rights: Include when buyer needs to inspect goods before acceptance

3. Intellectual Property: Required when the sale involves IP rights

4. Confidentiality: Include for transactions involving sensitive information

5. Force Majeure: Optional protection against unforeseen events preventing performance

6. Assignment: Include if parties need to restrict or permit transfer of rights

7. Insurance: Required for high-value goods or during transit

8. Compliance with Laws: Include for regulated goods or specific industry requirements

What schedules should be included in a Simple Purchase And Sale Agreement?

1. Schedule 1 - Description of Goods: Detailed specification of items being sold

2. Schedule 2 - Payment Schedule: If payment is to be made in installments

3. Schedule 3 - Delivery Schedule: For multiple delivery dates or complex delivery arrangements

4. Schedule 4 - Form of Acceptance Certificate: When formal acceptance process is required

5. Appendix A - Technical Specifications: For technical products or equipment

6. Appendix B - Required Documents: List of documents needed for completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Publisher

Genie AI

Document Type

Sales Agreement

Sector

Sales

Cost

Free to use
Relevant Industries

Retail

Manufacturing

Trading

E-commerce

Real Estate

Automotive

Electronics

Consumer Goods

Industrial Equipment

Furniture and Home Goods

Textiles

Construction Materials

Food and Beverage

General Merchandise

Relevant Teams

Legal

Procurement

Sales

Operations

Supply Chain

Commercial

Finance

Compliance

Business Development

Administration

Relevant Roles

Procurement Manager

Sales Manager

Business Owner

Commercial Director

Contract Administrator

Legal Counsel

Operations Manager

Supply Chain Manager

Purchase Officer

Sales Executive

Business Development Manager

General Manager

CEO

CFO

Compliance Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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