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Contingency Sales Agreement
"I need a Contingency Sales Agreement for the purchase of industrial manufacturing equipment worth SAR 5 million, where the sale is contingent on obtaining Saudi Ministry of Industry approval by March 2025 and successful equipment testing at our Riyadh facility."
1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and registration details as per Saudi requirements
2. Background: Context of the agreement and general intent of the parties, including reference to Sharia compliance
3. Definitions: Detailed definitions of terms used throughout the agreement, including specific commercial and technical terms
4. Sale and Purchase Agreement: Core terms of the sale including subject matter, price, and basic conditions
5. Contingency Conditions: Detailed description of the contingencies that must be met for the sale to proceed
6. Payment Terms: Structure and timing of payments, including any deposits, installments, and final payment conditions
7. Delivery and Transfer of Title: Terms regarding delivery of goods and transfer of ownership upon meeting contingencies
8. Representations and Warranties: Statements of fact and guarantees by both parties regarding their capacity and the subject matter
9. Term and Termination: Duration of the agreement and circumstances under which it may be terminated
10. Governing Law and Jurisdiction: Explicit statement of Saudi law application and jurisdiction for dispute resolution
11. Force Majeure: Provisions for unforeseen circumstances preventing performance
12. Notices: Methods and addresses for official communications between parties
13. Execution: Signature blocks and execution requirements compliant with Saudi law
1. Intellectual Property Rights: Include when the sale involves products with IP components or licensing requirements
2. Confidentiality: Add when sensitive information will be exchanged during the contingency period
3. Insurance: Include when specific insurance requirements are needed during the contingency period
4. Security Arrangements: Add when additional security or guarantees are required for the transaction
5. Compliance with Laws: Include when specific regulatory compliance needs to be emphasized
6. Assignment: Add when transfer rights need to be explicitly addressed
7. Third Party Rights: Include when third party interests need to be acknowledged or protected
8. Dispute Resolution: Add detailed arbitration or mediation procedures if preferred over court proceedings
1. Schedule 1 - Product Specifications: Detailed description of goods or services being sold
2. Schedule 2 - Pricing Structure: Detailed breakdown of pricing, including any variables or calculations
3. Schedule 3 - Contingency Conditions Detail: Specific metrics, timelines, or requirements that constitute fulfillment of contingencies
4. Schedule 4 - Payment Schedule: Detailed payment terms, installments, and timing
5. Schedule 5 - Required Documents: List of documents required for closing the sale
6. Appendix A - Form of Notice: Template for formal notices between parties
7. Appendix B - Completion Checklist: Checklist of conditions and documents required for closing
8. Appendix C - Required Certifications: Any regulatory or quality certifications required
Authors
Applicable Law
Business Day
Buyer
Closing
Closing Date
Completion
Completion Certificate
Confidential Information
Contingency Conditions
Contingency Period
Contract Price
Delivery
Deposit
Effective Date
Encumbrance
Force Majeure Event
Goods
Governing Law
Initial Payment
Intellectual Property Rights
Material Adverse Change
Notice
Party/Parties
Payment Schedule
Purchase Price
Related Entities
Relevant Authority
Representatives
Sale Assets
Seller
Services
Sharia Compliant
Specifications
Target Completion Date
Term
Territory
Third Party
Transaction Documents
Transfer Date
Warranties
Contingency Conditions
Purchase Price
Payment Terms
Conditions Precedent
Deposit
Due Diligence
Title and Risk
Delivery
Warranties and Representations
Covenants
Termination
Force Majeure
Confidentiality
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendments
Third Party Rights
Costs and Expenses
Compliance with Laws
Insurance
Indemnification
Intellectual Property
Records and Audit
Anti-Corruption
Data Protection
Environmental Compliance
Security Interest
Time of Essence
Further Assurance
Language
Counterparts
Manufacturing
Retail
Real Estate
Technology
Agriculture
Energy
Construction
Industrial Equipment
Automotive
Consumer Goods
Healthcare
Mining
Telecommunications
Legal
Commercial
Finance
Sales
Procurement
Risk & Compliance
Operations
Business Development
Executive Leadership
Corporate Affairs
Legal Counsel
Commercial Director
Chief Executive Officer
Chief Financial Officer
Sales Director
Procurement Manager
Contract Manager
Business Development Manager
Risk Manager
Compliance Officer
Operations Director
General Manager
Commercial Manager
Finance Manager
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