Buy Sell Agreement Business Template for United Arab Emirates

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Key Requirements PROMPT example:

Buy Sell Agreement Business

"I need a Buy Sell Agreement Business for the sale of my Dubai-based retail company to a local buyer, with completion scheduled for March 2025 and payment to be made in three installments."

Document background

The Buy Sell Agreement Business is a crucial legal instrument in the United Arab Emirates used for transferring business ownership. It is essential for both domestic and international transactions within the UAE jurisdiction, providing a structured framework for business acquisitions and disposals. The agreement must comply with UAE Federal Law No. 32 of 2021 (Commercial Companies Law) and other relevant regulations, including free zone-specific requirements where applicable. This document typically includes detailed provisions for purchase price determination, payment mechanisms, warranties, representations, and conditions precedent, while addressing UAE-specific requirements such as commercial licensing, foreign ownership restrictions, and corporate tax considerations. It's particularly important in ensuring smooth ownership transitions while maintaining business continuity and regulatory compliance in the UAE business environment.

Suggested Sections

1. Parties: Identification of the seller(s) and buyer(s), including full legal names, registration numbers, and registered addresses

2. Background: Context of the transaction, brief description of the business, and purpose of the agreement

3. Definitions: Defined terms used throughout the agreement, including Business, Completion Date, Purchase Price, etc.

4. Sale and Purchase: Core transaction terms, including what is being sold (shares/assets), the agreed purchase price, and completion mechanics

5. Purchase Price and Payment: Detailed payment terms, including payment structure, timing, and any adjustments

6. Conditions Precedent: Conditions that must be satisfied before completion of the sale

7. Completion: Details of the completion process, including timing, location, and actions required by each party

8. Seller's Warranties: Warranties regarding the business, assets, liabilities, employees, and compliance with laws

9. Buyer's Warranties: Warranties from the buyer regarding authority, capacity, and funding

10. Pre-Completion Obligations: Obligations of parties between signing and completion, including business conduct requirements

11. Post-Completion Obligations: Ongoing obligations after completion, including transition arrangements

12. Confidentiality: Provisions regarding confidential information and announcements

13. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

Optional Sections

1. Non-Compete Provisions: Restrictions on seller's future business activities - include when seller might compete with the business

2. Employee Matters: Specific provisions regarding employees - include when staff transfer is a material consideration

3. Intellectual Property: Detailed IP transfer provisions - include when IP is a significant business asset

4. Tax Covenant: Specific tax-related warranties and indemnities - include when tax exposure is material

5. Environmental Matters: Environmental warranties and indemnities - include for businesses with environmental impacts

6. Real Estate: Specific provisions for property transfers - include when real estate is part of the sale

7. Earn-out Provisions: Structure for additional payments based on future performance - include when part of purchase price is contingent

8. Break Fee: Compensation if deal fails - include for complex transactions with significant due diligence costs

Suggested Schedules

1. Business Description: Detailed description of the business being sold, including operations and assets

2. Properties: List and details of all real estate owned or leased by the business

3. Intellectual Property Rights: Schedule of all IP owned or licensed by the business

4. Employee Information: List of employees, their roles, and key employment terms

5. Material Contracts: List and copies of all material business contracts

6. Financial Statements: Recent financial statements and management accounts

7. Completion Requirements: Detailed list of documents and actions required at completion

8. Warranties: Detailed warranties given by the seller

9. Disclosed Matters: Disclosure against the warranties

10. Form of Transfer Documents: Templates of required transfer 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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Retail

Manufacturing

Technology

Professional Services

Healthcare

Hospitality

Real Estate

Construction

Trading

Education

Food & Beverage

Logistics

Financial Services

Media & Entertainment

Automotive

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Executive Leadership

Commercial

Operations

Risk & Compliance

Business Development

Corporate Secretarial

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

General Counsel

Legal Director

Chief Financial Officer

Finance Director

Corporate Development Manager

Business Development Director

Merger & Acquisition Manager

Company Secretary

Commercial Director

Operations Director

Risk Manager

Compliance Officer

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Agreement Of Sale Of Immovable Property

UAE property sale agreement template compliant with UAE Civil Code and emirate-specific property laws, governing the transfer of immovable property.

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Let's create your Buy Sell Agreement Business

Authors

Alex Denne

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