Conditional Contract To Sell Template for Singapore

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Key Requirements PROMPT example:

Conditional Contract To Sell

"I need a Conditional Contract to Sell for the purchase of a manufacturing facility in Singapore, where completion is subject to obtaining environmental permits and successful equipment testing by March 2025."

Document background
The Conditional Contract to Sell is commonly used in Singapore when parties wish to enter into a sale agreement but need certain conditions to be fulfilled before the sale becomes final. This document type is particularly relevant for complex transactions where due diligence, regulatory approvals, or financing arrangements need to be completed before the sale can proceed. It provides a framework under Singapore law for specifying conditions precedent, timeframes for completion, and consequences of condition fulfillment or failure. The contract typically includes detailed provisions about the subject matter, purchase price, condition specifications, and completion mechanics.
Suggested Sections

1. Parties: Identification and details of seller and buyer

2. Background: Context and purpose of the conditional sale

3. Definitions: Key terms used throughout the agreement

4. Subject Matter: Detailed description of property/goods being sold

5. Conditions: Specific conditions that must be fulfilled, including all conditions precedent and subsequent

6. Purchase Price: Amount and payment terms including deposit arrangements

7. Completion: Process and timing of transfer upon satisfaction of conditions

8. Default and Remedies: Consequences of breach and available remedies

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

Optional Sections

1. Due Diligence: Terms for buyer's investigation rights and timeline - used for complex or high-value transactions

2. Warranties and Representations: Seller's guarantees about the property/goods - included when specific assurances are required

3. Force Majeure: Provisions for unforeseen circumstances - recommended for longer-term contracts or high-risk transactions

4. Assignment: Rights to assign the contract to third parties - included when transfer rights need to be specified

5. Confidentiality: Provisions regarding confidential information - used in sensitive commercial transactions

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description and specifications of property/goods being sold

2. Schedule 2 - Payment Schedule: Breakdown of payment terms, installments, and timing

3. Schedule 3 - Condition Precedent Timeline: Timeline and deadlines for fulfilling various conditions

4. Schedule 4 - Due Diligence Requirements: List of required documents and verifications for due diligence

5. Schedule 5 - Form of Transfer: Template documents for executing the final transfer

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

Industries

Civil Law Act (Cap. 43): Primary legislation governing civil law matters in Singapore, including fundamental contract principles

Sale of Goods Act (Cap. 393): Regulates the sale of goods and provides framework for commercial transactions in Singapore

Misrepresentation Act (Cap. 390): Governs false statements made during contract formation and provides remedies for misrepresentation

Residential Property Act (Cap. 274): Regulates the purchase and ownership of residential properties in Singapore, particularly relevant if the contract involves real estate

Housing and Development Act (Cap. 129): Governs public housing matters and HDB properties in Singapore

Land Titles Act (Cap. 157): Regulates the registration and transfer of land titles in Singapore

Conveyancing and Law of Property Act (Cap. 61): Governs the transfer of property rights and real estate transactions

Consumer Protection (Fair Trading) Act: Protects consumer rights and regulates fair trading practices in consumer transactions

Electronic Transactions Act (Cap. 88): Provides legal framework for electronic transactions and digital signatures

Stamp Duties Act (Cap. 312): Governs the imposition of stamp duties on various documents and transactions

Singapore Common Law Principles: Body of contract law principles derived from case law and judicial precedents in Singapore

Conditions Precedent Rules: Legal principles governing conditions that must be fulfilled before the contract becomes effective

Singapore Contract Remedies: Legal framework for remedies available in case of contract breach under Singapore law

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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