Buy And Sell Agreement (Insurance) Template for Philippines

1. Employee Matters: Addresses treatment of employees and related liabilities (used when staff transfer is involved)

2. Intellectual Property Rights: Covers transfer of IP rights if relevant to the insurance business being sold

3. Tax Matters: Detailed tax provisions and allocations (used for complex transactions with significant tax implications)

4. Transition Services: Provisions for post-closing support services (used when seller will provide temporary support)

5. Non-Compete Provisions: Restrictions on seller's future business activities (used when protecting market position)

6. Broker/Agent Relationships: Provisions dealing with existing broker relationships (used when broker networks are involved)

7. Policy Holder Communications: Requirements for notifying policy holders (used when direct insurance policies are transferred)

1. Schedule A - List of Insurance Policies: Detailed inventory of all insurance policies being transferred

2. Schedule B - Assets and Liabilities: Comprehensive list of assets and liabilities included in the transaction

3. Schedule C - Required Regulatory Approvals: List of necessary regulatory approvals and licenses

4. Schedule D - Excluded Assets: List of assets specifically excluded from the transaction

5. Schedule E - Employee Information: Details of employees and related benefits if applicable

6. Schedule F - Pending Claims and Litigation: List of ongoing claims and legal proceedings

7. Appendix 1 - Form of Transfer Instruments: Templates for documents required to effect the transfer

8. Appendix 2 - Closing Checklist: Detailed list of documents and actions required for closing