The As Is Sales Agreement is commonly used in the Philippines for transactions where the seller wishes to transfer property or goods without providing extensive warranties beyond those mandated by law. This document type is particularly relevant for sales of used equipment, pre-owned vehicles, distressed assets, or any situation where the buyer agrees to accept items in their current condition. The agreement must comply with the Civil Code of the Philippines and the Consumer Act while effectively documenting the buyer's informed acceptance of the item's condition. It's essential for protecting sellers from future claims while ensuring transparency in the transaction. The document typically includes detailed condition reports, explicit warranty disclaimers, and specific acknowledgments from the buyer regarding their understanding of the "as is" nature of the purchase.
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1. Parties: Identifies and provides full details of the seller and buyer, including their legal capacity to enter into the agreement
2. Background: Contextualizes the transaction and explicitly states the 'as is' nature of the sale
3. Definitions: Defines key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of the item(s) being sold, including current condition and any known defects
5. Purchase Price and Payment Terms: Specifies the agreed price and payment method, including any installment arrangements
6. 'As Is' Acknowledgment: Explicit acknowledgment by buyer of the item's current condition and acceptance of all existing defects
7. Warranty Disclaimers: Clear statements of warranty limitations and disclaimers permitted under Philippine law
8. Delivery and Transfer: Terms regarding delivery, transfer of ownership, and risk
9. Representations and Warranties: Limited representations about ownership and authority to sell
10. Taxes and Expenses: Allocation of tax obligations and transaction costs
11. Governing Law: Specifies Philippine law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Inspection Period: Optional clause allowing buyer a specific period to inspect the item before finalizing the sale
2. Insurance: Include if there's a gap between sale and delivery requiring insurance coverage
3. Broker/Agent Provisions: Required if a broker or agent is involved in the transaction
4. Intellectual Property: Include for sales of items with associated intellectual property rights
5. Export/Import Provisions: Required for international sales
6. Force Majeure: Optional protection against unforeseen events affecting delivery
7. Dispute Resolution: Optional detailed arbitration or mediation procedures
1. Schedule A - Item Description: Detailed description of the item(s), including photographs, serial numbers, and known defects
2. Schedule B - Current Condition Report: Detailed report of the current condition, including any damage or wear
3. Schedule C - Payment Schedule: If payment is in installments, detailed payment timeline
4. Schedule D - Delivery Details: Specific delivery instructions and requirements
5. Appendix 1 - Inspection Report: Any third-party inspection reports or evaluations
6. Appendix 2 - Title Documents: Copies of relevant ownership documents
7. Appendix 3 - Maintenance Records: If applicable, history of maintenance or repairs
Relevant legal definitions
Agreement
As Is Condition
Business Day
Closing
Closing Date
Defects
Delivery Date
Delivery Location
Effective Date
Encumbrances
Existing Condition
Force Majeure Event
Governing Law
Inspection Period
Item
Known Defects
Liabilities
Notice
Parties
Purchase Price
Representatives
Seller's Knowledge
Taxes
Title Documents
Transfer Date
Warranties
Working Hours
Material Adverse Change
Payment Terms
Permitted Encumbrances
Physical Condition
Purchase Documents
Signing Date
Transaction
Transfer of Risk
Due Diligence
Intellectual Property Rights
Maintenance Records
As Is Condition
Business Day
Closing
Closing Date
Defects
Delivery Date
Delivery Location
Effective Date
Encumbrances
Existing Condition
Force Majeure Event
Governing Law
Inspection Period
Item
Known Defects
Liabilities
Notice
Parties
Purchase Price
Representatives
Seller's Knowledge
Taxes
Title Documents
Transfer Date
Warranties
Working Hours
Material Adverse Change
Payment Terms
Permitted Encumbrances
Physical Condition
Purchase Documents
Signing Date
Transaction
Transfer of Risk
Due Diligence
Intellectual Property Rights
Maintenance Records
Clauses
Parties
Recitals
Definitions
Sale and Purchase
As Is Condition
Price and Payment
Warranties and Representations
Warranty Disclaimers
Transfer of Title
Transfer of Risk
Delivery
Inspection Rights
Condition Acknowledgment
Tax
Costs and Expenses
Force Majeure
Further Assurance
Severability
Assignment
Entire Agreement
Amendments
Notices
Governing Law
Dispute Resolution
Indemnification
Confidentiality
Compliance with Laws
Authority and Capacity
Execution
Registration Requirements
Recitals
Definitions
Sale and Purchase
As Is Condition
Price and Payment
Warranties and Representations
Warranty Disclaimers
Transfer of Title
Transfer of Risk
Delivery
Inspection Rights
Condition Acknowledgment
Tax
Costs and Expenses
Force Majeure
Further Assurance
Severability
Assignment
Entire Agreement
Amendments
Notices
Governing Law
Dispute Resolution
Indemnification
Confidentiality
Compliance with Laws
Authority and Capacity
Execution
Registration Requirements
Relevant Industries
Manufacturing
Automotive
Real Estate
Industrial Equipment
Construction
Agriculture
Technology
Retail
Wholesale Trade
Transportation
Maritime
Aviation
Mining
Heavy Equipment
Relevant Teams
Legal
Procurement
Sales
Asset Management
Operations
Risk Management
Compliance
Finance
Supply Chain
Commercial Operations
Property Management
Relevant Roles
Legal Counsel
Contracts Manager
Procurement Manager
Sales Manager
Asset Manager
Business Development Manager
Operations Director
Fleet Manager
Property Manager
Compliance Officer
Risk Manager
Commercial Director
Chief Legal Officer
Chief Financial Officer
Supply Chain Manager
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