As Is Sales Agreement for Malaysia

As Is Sales Agreement Template for Malaysia

A comprehensive sales agreement governed by Malaysian law that facilitates the transfer of goods or assets in their current condition, with limited or no warranties from the seller. This agreement explicitly states that the buyer accepts the item(s) in their existing state, having had the opportunity to inspect them. The document includes specific provisions aligned with Malaysian contract law, including the Contracts Act 1950 and Sale of Goods Act 1957, while incorporating necessary disclaimers and liability limitations to protect the seller's interests.

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What is a As Is Sales Agreement?

The As Is Sales Agreement is commonly used in Malaysian business transactions where goods or assets are sold in their current condition without substantial warranties or representations from the seller. This document is particularly relevant when selling used equipment, secondary market goods, or assets where the seller wishes to limit their liability regarding the condition of the items. The agreement complies with Malaysian legal requirements while protecting the seller's interests through appropriate disclaimers. It includes essential elements such as clear identification of the goods, pricing, delivery terms, and explicit acknowledgments from the buyer regarding the condition of the items. This type of agreement is frequently used in both business-to-business and business-to-consumer transactions, though additional consumer protection considerations may apply in the latter case.

What sections should be included in a As Is Sales Agreement?

1. Parties: Identification and details of the seller and buyer, including registration numbers for companies

2. Background: Context of the sale and brief description of the goods being sold

3. Definitions: Definitions of key terms used in the agreement

4. Sale and Purchase: Core agreement to sell and purchase the goods in their current condition

5. As Is Condition: Clear statement that goods are sold 'as is' with appropriate disclaimers

6. Price and Payment: Purchase price, payment terms, and method of payment

7. Delivery: Delivery terms, timing, location, and responsibilities

8. Risk and Title: Transfer of risk and ownership provisions

9. Inspection: Buyer's acknowledgment of inspection and acceptance of current condition

10. Representations and Warranties: Limited representations and specific exclusions of warranties

11. Limitation of Liability: Limitations on seller's liability consistent with 'as is' nature

12. Governing Law: Malaysian law as governing law and jurisdiction details

13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

What sections are optional to include in a As Is Sales Agreement?

1. Condition Report: Detailed description of known condition issues - used for high-value items or when specific defects are known

2. Insurance: Insurance requirements during transit - used when valuable items are being transported

3. Intellectual Property: IP rights provisions - used when selling goods with associated intellectual property

4. Confidentiality: Confidentiality obligations - used when sensitive information is shared during the sale process

5. Tax Provisions: Specific tax arrangements - used for high-value transactions or cross-border sales

6. Force Majeure: Force majeure provisions - used when delivery timing is critical

7. Dispute Resolution: Alternative dispute resolution procedures - used for high-value transactions

What schedules should be included in a As Is Sales Agreement?

1. Schedule 1 - Description of Goods: Detailed description of goods being sold, including photographs if applicable

2. Schedule 2 - Known Defects: List of known defects or issues with the goods

3. Schedule 3 - Delivery Details: Specific delivery instructions and requirements

4. Schedule 4 - Payment Schedule: Payment timeline if payment is to be made in installments

5. Appendix A - Condition Report: Detailed condition report with photos (if applicable)

6. Appendix B - Compliance Documents: Copies of relevant compliance or registration documents

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

Malaysia

Publisher

Genie AI

Document Type

Purchase Agreement

Cost

Free to use
Relevant Industries

Manufacturing

Automotive

Industrial Equipment

Construction

Electronics

Machinery

Retail

Real Estate

Agriculture

Mining

Shipping

Aviation

Relevant Teams

Legal

Sales

Procurement

Operations

Finance

Risk Management

Compliance

Commercial

Business Development

Asset Management

Relevant Roles

Sales Manager

Procurement Manager

Legal Counsel

Contract Administrator

Business Development Manager

Commercial Director

Operations Manager

Asset Manager

Risk Manager

Compliance Officer

General Manager

Chief Financial 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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