Transfer Of Business Ownership Agreement Template for South Africa

1. Intellectual Property: Specific provisions for transfer of intellectual property rights, used when the business owns significant IP assets

2. Property Transfer: Detailed provisions for transfer of immovable property, required when business premises are included in the sale

3. Lease Assignment: Provisions for assignment of lease agreements, needed when the business operates from leased premises

4. Third Party Consents: Requirements for obtaining consents from third parties, relevant when key contracts require consent for assignment

5. Environmental Matters: Specific provisions dealing with environmental liabilities and compliance, important for businesses with environmental impacts

6. Competition Commission Approval: Provisions regarding competition authority approval, required for larger transactions

7. Financing Arrangements: Terms regarding payment financing, relevant when purchase price is not paid in full at closing

8. B-BBEE Provisions: Specific provisions regarding B-BBEE compliance and scoring, relevant for businesses where B-BBEE status is important

1. Schedule 1: Asset Register: Detailed list of all tangible and intangible assets included in the sale

2. Schedule 2: Excluded Assets: List of assets specifically excluded from the sale

3. Schedule 3: Employee Information: Details of all employees, their terms of employment, and benefits

4. Schedule 4: Contracts: List of all business contracts being transferred

5. Schedule 5: Intellectual Property: Detailed list of all intellectual property rights

6. Schedule 6: Properties: Details of any immovable property included in the sale

7. Schedule 7: Warranties: Detailed warranties given by the seller

8. Schedule 8: Liabilities: List of liabilities being transferred or retained

9. Appendix A: Due Diligence Findings: Summary of key findings from due diligence investigation

10. Appendix B: Required Consents: List of third-party consents required for the transfer