Simple Buy Sell Agreement for Australia

Simple Buy Sell Agreement Template for Australia

A Simple Buy Sell Agreement is a fundamental commercial contract used in Australian business transactions for the straightforward sale and purchase of goods. This document establishes the essential terms and conditions of the sale, including the description of goods, purchase price, payment terms, delivery arrangements, and transfer of title. Governed by Australian law, particularly the Australian Consumer Law and state-specific Sale of Goods Acts, this agreement provides a clear framework for both parties while ensuring compliance with relevant federal and state legislation.

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What is a Simple Buy Sell Agreement?

The Simple Buy Sell Agreement serves as a foundational document for commercial transactions in Australia, providing a clear and legally compliant framework for the sale and purchase of goods. This agreement type is particularly suitable for straightforward commercial transactions where one party wishes to sell and another to purchase specific goods under defined terms. It incorporates essential elements required by Australian law, including provisions aligned with the Competition and Consumer Act 2010 (Cth) and relevant state-based Sale of Goods Acts. The document typically includes key commercial terms such as price, payment conditions, delivery arrangements, and warranties, while remaining adaptable to various business contexts and industries. A Simple Buy Sell Agreement is most commonly used in business-to-business transactions where parties need a formal but uncomplicated agreement to document their sales arrangement.

What sections should be included in a Simple Buy Sell Agreement?

1. Parties: Identifies and provides full details of the buyer and seller including legal names, ABNs, and addresses

2. Background: Provides context for the agreement and brief description of the transaction

3. Definitions: Defines key terms used throughout the agreement

4. Sale and Purchase: Core terms of the transaction including description of goods and purchase price

5. Payment Terms: Details of how and when payment will be made

6. Delivery: Specifications for delivery including timing, location, and responsibility for costs

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

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

9. GST: Treatment of GST in the transaction

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

11. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement

What sections are optional to include in a Simple Buy Sell Agreement?

1. Conditions Precedent: Used when the sale is subject to certain conditions being met before completion

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

3. Insurance: Required when specific insurance arrangements need to be maintained during transit or storage

4. Intellectual Property: Include when the sale involves goods with associated IP rights

5. Confidentiality: Add when transaction involves sensitive commercial information

6. Training and Support: Include when seller must provide training or ongoing support for the goods

7. Return Policy: Add when specific return rights are being granted beyond statutory requirements

What schedules should be included in a Simple Buy Sell Agreement?

1. Schedule 1 - Goods Description: Detailed description of goods including specifications, quantities, and conditions

2. Schedule 2 - Price Schedule: Breakdown of prices, especially if multiple items or variable pricing applies

3. Schedule 3 - Delivery Schedule: Detailed delivery timeline and requirements if complex or multiple deliveries

4. Appendix A - Technical Specifications: Technical details and requirements for the goods if applicable

5. Appendix B - Quality Standards: Specific quality standards or compliance requirements if applicable

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

Jurisdiction

Australia

Publisher

Genie AI

Sector

Cost

Free to use
Relevant Industries

Retail

Manufacturing

Wholesale Trade

Agriculture

Mining

Construction

Technology

Automotive

Industrial Equipment

Consumer Goods

Small Business

Relevant Teams

Legal

Procurement

Sales

Commercial

Operations

Supply Chain

Business Development

Contract Administration

Relevant Roles

Procurement Manager

Sales Manager

Contract Administrator

Business Development Manager

Commercial Manager

Operations Manager

Supply Chain Manager

Legal Counsel

Purchasing Officer

Sales Representative

Business Owner

General Manager

Chief Operating 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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