The As Is Purchase Agreement is a specialized contract template designed for transactions under Dutch law where the seller wishes to transfer an asset in its current condition with minimal ongoing liability. This document type is particularly useful in scenarios involving used equipment, commercial property, or other assets where the buyer agrees to accept the item with all existing faults and defects. The agreement incorporates essential provisions of the Dutch Civil Code while explicitly limiting seller warranties and representations. It is commonly used in commercial transactions between businesses, though it can also be adapted for private sales. The document includes comprehensive sections on asset condition, inspection rights, risk transfer, and explicit buyer acknowledgments of the "as is" nature of the purchase.
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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 asset being sold
3. Definitions: Key terms used throughout the agreement, including 'Asset', 'Closing Date', and 'Purchase Price'
4. Sale and Purchase: Core agreement to sell and purchase the asset in its current condition
5. Purchase Price and Payment: Agreed price and payment terms, including payment method and timing
6. As Is Condition: Explicit statement that the asset is sold in its current condition with all faults and defects
7. Seller's Limited Representations: Basic representations about ownership and authority to sell
8. Buyer's Acknowledgments: Buyer's confirmation of inspection and acceptance of asset condition
9. Risk and Transfer: Transfer of risk and ownership provisions
10. Closing: Process and requirements for completing the transaction
11. Governing Law and Jurisdiction: Application of Dutch law and jurisdiction for disputes
1. Due Diligence: Details of any pre-purchase inspection rights, used when the asset requires significant examination
2. Environmental Matters: Required for real estate or industrial equipment that may have environmental implications
3. Intellectual Property: Needed when the asset includes or involves IP rights
4. Installation/Removal: Used when the asset requires professional installation or removal from current location
5. Post-Closing Obligations: Any continuing obligations after the sale, such as temporary storage or transition arrangements
6. Tax Matters: Specific tax implications and allocations, particularly relevant for high-value assets
7. Insurance: Insurance requirements during transition period, if applicable
8. Confidentiality: Required when sensitive information is exchanged during the transaction
9. Force Majeure: Added for transactions with delayed closing or ongoing obligations
1. Asset Description: Detailed description of the asset including specifications, condition, and known defects
2. Purchase Price Calculation: Breakdown of purchase price components if price is not a simple lump sum
3. Known Defects: List of known issues or defects with the asset
4. Delivery Details: Specific arrangements for asset delivery or collection
5. Required Permits: List of permits or authorizations needed for the transfer
6. Historical Documentation: Maintenance records, previous owners, or other relevant historical information
7. Photographs: Visual documentation of the asset's current condition
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