The Sold As Is Contract is essential for transactions where assets are being sold in their current condition without extensive warranties from the seller. This document type is particularly relevant under Danish law, where specific legal requirements must be met even in "as is" sales. It's commonly used for both commercial and private sales of various assets, from real estate to equipment, where the buyer accepts the asset's current condition after inspection. The contract includes mandatory disclosures required by Danish legislation, provides clear documentation of the asset's condition, and establishes the limits of seller liability while ensuring compliance with consumer protection laws where applicable. This template is designed to protect both parties' interests while clearly documenting the "as is" nature of the transaction.
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Key Requirements PROMPT example:
Sold As Is Contract
I need a Sold As Is Contract for selling my used manufacturing equipment (a 2020 industrial printing press) to another business in Denmark, with delivery scheduled for March 2025 and including specific provisions for technical inspection and operator training.
1. Parties: Identification and details of the seller and buyer
2. Background: Context of the sale and brief description of the asset being sold
3. Definitions: Key terms used throughout the agreement
4. Object of Sale: Detailed description of the asset being sold 'as is'
5. Purchase Price and Payment: Amount to be paid and payment terms
6. As Is Provision: Express statement that the asset is sold 'as is' with appropriate disclaimers
7. Condition of Asset: Description of known condition and acknowledgment by buyer of inspection opportunity
8. Transfer of Risk and Title: When and how risk and ownership transfers to the buyer
9. Delivery: Terms and conditions of delivery or collection
10. Representations and Warranties: Limited representations by seller and acknowledgments by buyer
11. Governing Law and Jurisdiction: Specification of Danish law and jurisdiction
1. Intellectual Property Rights: For sales involving assets with associated IP rights
2. Environmental Conditions: For real estate or industrial equipment sales where environmental factors are relevant
3. Regulatory Compliance: When the asset requires specific regulatory compliance or permits
4. Third-Party Rights: When there are known third-party rights or claims affecting the asset
5. Insurance: When specific insurance requirements need to be maintained during transfer
6. Confidentiality: When sensitive information is exchanged during the sale process
7. Tax Implications: When specific tax considerations need to be addressed
8. Dispute Resolution: When alternative dispute resolution methods are preferred
1. Asset Description Schedule: Detailed technical specifications and description of the asset
2. Condition Report: Documentation of the asset's current condition, including known defects or issues
3. Inspection Report: Third-party inspection reports or assessments, if available
4. Historical Documentation: Maintenance records, previous repairs, or relevant history of the asset
5. Photographs: Visual documentation of the asset's current condition
6. Transfer Documents: Any required forms or documents for legal transfer of ownership
7. Compliance Certificates: Any relevant certificates or permits associated with the asset
Authors
Relevant legal definitions
Agreement
Asset
As Is Condition
Business Day
Closing
Closing Date
Completion
Confidential Information
Current Condition
Delivery
Delivery Date
Defects
Documentation
Effective Date
Encumbrances
Force Majeure
Governing Law
Handover
Inspection
Inspection Period
Known Defects
Liabilities
Party/Parties
Purchase Price
Purchaser
Related Rights
Seller
Seller's Knowledge
Signing Date
Specifications
Technical Documentation
Third Party Rights
Transfer Date
Transfer of Title
Warranties
Asset
As Is Condition
Business Day
Closing
Closing Date
Completion
Confidential Information
Current Condition
Delivery
Delivery Date
Defects
Documentation
Effective Date
Encumbrances
Force Majeure
Governing Law
Handover
Inspection
Inspection Period
Known Defects
Liabilities
Party/Parties
Purchase Price
Purchaser
Related Rights
Seller
Seller's Knowledge
Signing Date
Specifications
Technical Documentation
Third Party Rights
Transfer Date
Transfer of Title
Warranties
Clauses
Sale and Purchase
As Is Disclaimer
Purchase Price
Payment Terms
Condition Acknowledgment
Inspection Rights
Transfer of Title
Transfer of Risk
Delivery
Known Defects
Liability Limitation
Representations and Warranties
Seller's Obligations
Buyer's Obligations
Force Majeure
Documentation
Asset Description
Condition Disclosure
Insurance
Regulatory Compliance
Environmental Matters
Third Party Rights
Intellectual Property
Confidentiality
Notices
Assignment
Severability
Entire Agreement
Amendments
Governing Law
Jurisdiction
Dispute Resolution
Language
Counterparts
As Is Disclaimer
Purchase Price
Payment Terms
Condition Acknowledgment
Inspection Rights
Transfer of Title
Transfer of Risk
Delivery
Known Defects
Liability Limitation
Representations and Warranties
Seller's Obligations
Buyer's Obligations
Force Majeure
Documentation
Asset Description
Condition Disclosure
Insurance
Regulatory Compliance
Environmental Matters
Third Party Rights
Intellectual Property
Confidentiality
Notices
Assignment
Severability
Entire Agreement
Amendments
Governing Law
Jurisdiction
Dispute Resolution
Language
Counterparts
Relevant Industries
Real Estate
Automotive
Manufacturing
Industrial Equipment
Construction
Agriculture
Maritime
Technology
Retail
Auction Houses
Asset Management
Private Sales
Relevant Teams
Legal
Sales
Procurement
Risk Management
Compliance
Operations
Asset Management
Real Estate
Commercial
Business Development
Contract Administration
Relevant Roles
Legal Counsel
Contract Manager
Sales Manager
Procurement Manager
Business Development Manager
Asset Manager
Property Manager
Operations Manager
Risk Manager
Compliance Officer
Real Estate Agent
Commercial Director
General Manager
Chief Legal Officer
Business Owner
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