Document background
The Business Buy and Sell Agreement is a crucial document used in Philippine business transactions when one party wishes to sell their business interests to another. This comprehensive agreement, governed by Philippine law and regulations, is essential for both asset sales and share transfers. It typically becomes relevant during business exits, expansions, or restructuring activities, providing a legally binding framework that protects all parties' interests. The document must comply with various Philippine regulations, including the Civil Code, Corporation Code, and tax laws. It includes detailed provisions covering purchase price, payment terms, warranties, representations, asset transfers, employee matters, and post-completion obligations. The agreement's scope can be adjusted based on transaction size and complexity, making it suitable for both small business transfers and large corporate acquisitions.
