As Is Sales Agreement for Pakistan

As Is Sales Agreement Template for Pakistan

An "As Is" Sales Agreement under Pakistani law is a legally binding contract used for the sale of goods where the seller transfers the goods to the buyer in their existing condition, without any warranties or guarantees regarding the condition or fitness for purpose. This agreement is governed by Pakistani law, particularly the Sale of Goods Act, 1930, and the Contract Act, 1872, and includes specific provisions disclaiming warranties while protecting the seller's interests. The document details the goods being sold, their current condition, pricing, delivery terms, and explicit acknowledgments from the buyer accepting the goods in their present state.

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What is a As Is Sales Agreement?

The As Is Sales Agreement is commonly used in Pakistan when selling goods where the seller wishes to transfer them without providing any warranties or guarantees about their condition or functionality. This type of agreement is particularly useful for sales of used equipment, second-hand goods, or assets being disposed of by businesses. The document is structured to comply with Pakistani commercial law, including the Sale of Goods Act, 1930, and includes comprehensive disclaimers of warranties while ensuring the buyer acknowledges accepting the goods in their current condition. It's essential for protecting sellers from future claims regarding the condition of goods while providing clarity to buyers about the nature of the purchase. The agreement typically includes detailed descriptions of the goods, their known condition, and any defects, making it particularly valuable for high-value transactions or situations where the condition of goods may be questionable.

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

1. Parties: Identifies and provides full details of the seller and buyer, including their legal names, addresses, and registration details if applicable

2. Background: Brief context of the transaction and relationship between the parties

3. Definitions: Defines key terms used throughout the agreement, including 'As Is' condition

4. Sale and Purchase: Core terms of the sale, including clear statement that goods are sold 'As Is'

5. Purchase Price and Payment: Specifies the price, payment terms, method of payment, and any deposit requirements

6. Delivery and Transfer of Title: Details about delivery arrangements, timing, location, and when title passes to the buyer

7. 'As Is' Condition and Disclaimer: Explicit statement that goods are sold in their current condition with all faults and defects, with comprehensive warranty disclaimers

8. Buyer's Acknowledgments: Buyer's confirmation of inspection opportunity and acceptance of goods condition

9. Risk and Insurance: Specifies when risk transfers to the buyer and any insurance requirements during transit

10. Representations: Limited representations by seller regarding ownership and authority to sell

11. Governing Law and Jurisdiction: Specifies Pakistani law as governing law and sets jurisdiction for disputes

12. Execution: Signature blocks and execution formalities

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

1. Inspection Period: Optional section when buyer is given a specific period to inspect goods before finalizing the sale

2. Condition Report: Used when parties agree to document specific known conditions or defects

3. Return Policy: Include only if seller is willing to accept returns under specific limited circumstances

4. Dispute Resolution: Detailed dispute resolution procedures if parties want specific arbitration or mediation provisions

5. Intellectual Property: Include when sale involves items with associated intellectual property rights

6. Confidentiality: Add when transaction involves sensitive information or trade secrets

7. Force Majeure: Include when delivery timing is critical and parties want to address unforeseen circumstances

8. Export/Import Compliance: Required when goods may cross international borders

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

1. Schedule 1 - Description of Goods: Detailed description of all items being sold, including quantities, specifications, and serial numbers

2. Schedule 2 - Current Condition Report: Detailed documentation of current condition, including photographs and known defects

3. Schedule 3 - Delivery Details: Specific delivery instructions, locations, and timeframes

4. Schedule 4 - Payment Schedule: If payment is in installments, details of payment amounts and dates

5. Appendix A - Inspection Report: Third-party inspection reports or condition assessments if available

6. Appendix B - Historical Documentation: Any available service history, previous ownership records, or relevant documentation

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

Pakistan

Publisher

Genie AI

Document Type

Purchase Agreement

Cost

Free to use
Relevant Industries

Manufacturing

Industrial Equipment

Automotive

Real Estate

Construction

Technology and Electronics

Heavy Machinery

Agriculture

Transportation

Retail

Wholesale Trade

Asset Management

Aviation

Maritime

Relevant Teams

Legal

Procurement

Sales

Operations

Commercial

Finance

Risk Management

Compliance

Supply Chain

Asset Management

Property Management

Fleet Management

Relevant Roles

Legal Counsel

Procurement Manager

Sales Manager

Asset Manager

Operations Director

Commercial Director

Business Development Manager

Contract Administrator

Risk Manager

Compliance Officer

Chief Financial Officer

Supply Chain Manager

Property Manager

Fleet Manager

Equipment Manager

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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