Pre Purchase Agreement for Singapore

Pre Purchase Agreement Template for Singapore

A Pre-Purchase Agreement under Singapore law is a legally binding contract that establishes the terms and conditions for a future purchase of goods or services. This document, governed by Singapore's Sale of Goods Act and Contract Law, outlines payment terms, delivery schedules, specifications, and warranties. It provides security for both parties by legally committing the buyer to purchase and the seller to deliver under specified conditions, while incorporating Singapore's robust commercial law framework and consumer protection measures.

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What is a Pre Purchase Agreement?

The Pre-Purchase Agreement serves as a critical commercial instrument in Singapore's business landscape, particularly useful when parties wish to secure future transactions with current terms. This document is commonly used when buyers need to commit to purchases in advance, such as for pre-construction properties, custom-manufactured goods, or bulk orders. It typically includes detailed specifications, payment structures, delivery timelines, and quality standards, all framed within Singapore's legal framework. The agreement provides clarity and security for both parties while ensuring compliance with relevant Singapore legislation including the Sale of Goods Act and Consumer Protection laws.

What sections should be included in a Pre Purchase Agreement?

1. Parties: Identification and details of all contracting parties

2. Background: Context and purpose of the pre-purchase agreement

3. Definitions: Key terms used throughout the agreement

4. Subject Matter: Detailed description of goods/services being pre-purchased

5. Purchase Price and Payment Terms: Price, payment schedule, and payment methods

6. Delivery Terms: Timeline, method, and conditions of delivery

7. Warranties and Representations: Standard warranties regarding the goods/services

8. Termination: Circumstances and process for agreement termination

9. Governing Law: Specification of Singapore law as governing law

What sections are optional to include in a Pre Purchase Agreement?

1. Intellectual Property Rights: Provisions covering IP ownership and licenses when the subject matter involves intellectual property

2. Confidentiality: Non-disclosure obligations for cases involving sensitive information exchange

3. Force Majeure: Provisions for unforeseen circumstances, typically included in long-term or high-value agreements

4. Insurance: Insurance requirements for high-value goods or risky transactions

5. Assignment: Rights to assign the agreement when transfer rights are important to the parties

What schedules should be included in a Pre Purchase Agreement?

1. Schedule 1: Product Specifications: Detailed technical specifications of goods

2. Schedule 2: Payment Schedule: Detailed breakdown of payment installments

3. Schedule 3: Delivery Schedule: Detailed timeline for delivery

4. Appendix A: Required Documentation: List of required documents for completion

5. Appendix B: Quality Standards: Applicable quality standards and certifications

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Manufacturing
Technology
Retail
Agriculture

Relevant Teams

Procurement
Legal
Finance
Operations
Compliance

Relevant Roles

Procurement Manager
Commercial Director
Supply Chain Manager
Legal Counsel
Chief Financial Officer

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What is a Pre Purchase Agreement?

What sections should be included in a Pre Purchase Agreement?

What sections are optional to include in a Pre Purchase Agreement?

What schedules should be included in a Pre Purchase Agreement?

Authors

Alex Denne

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