The Basic Purchase And Sale Agreement is a fundamental commercial document used in the United Arab Emirates for transactions involving the transfer of goods or assets between parties. This template is designed to comply with UAE Civil Code (Federal Law No. 5 of 1985) and Commercial Transactions Law (Federal Law No. 18 of 1993), making it suitable for both domestic and international transactions within UAE jurisdiction. The agreement is typically used when parties need a straightforward but comprehensive framework for a sale transaction, covering essential elements such as product specifications, pricing, delivery terms, warranties, and risk transfer. It can be customized for various industries while maintaining compliance with UAE legal requirements, including provisions for Arabic/English language requirements and Sharia law principles where relevant. This document serves as a crucial tool for businesses engaged in regular commercial transactions in the UAE market.
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1. Parties: Identification of buyer and seller with full legal names, addresses, and registration details as per UAE requirements
2. Background: Context of the transaction and brief description of the parties' intentions
3. Definitions: Key terms used throughout the agreement, including specific UAE legal terminology where relevant
4. Subject Matter of Sale: Detailed description of goods/assets being sold, including specifications and quantity
5. Purchase Price: Amount, currency, and payment terms including VAT considerations as per UAE law
6. Payment Terms: Payment schedule, method of payment, and banking details
7. Delivery Terms: Timing, location, and method of delivery, including risk transfer provisions
8. Title and Risk: Point of transfer of ownership and risk in accordance with UAE Civil Code
9. Warranties and Representations: Standard warranties about ownership, quality, and condition of goods
10. Inspection and Acceptance: Buyer's rights to inspect goods and acceptance procedures
11. Termination: Circumstances allowing contract termination and consequences
12. Governing Law and Jurisdiction: Explicit reference to UAE law and jurisdiction of UAE courts
13. Force Majeure: Events excusing performance under UAE law
14. Notices: Communication methods and addresses for formal notices
15. Execution: Signature blocks and execution requirements as per UAE law
1. Import/Export Requirements: Required for international sales, including customs and documentation requirements
2. Insurance: Insurance requirements when significant value goods are involved
3. Intellectual Property: Required when the sale involves products with IP components
4. Confidentiality: Required for transactions involving sensitive commercial information
5. Assignment: Include when transfer rights need to be restricted
6. Dispute Resolution: Alternative dispute resolution procedures, required for complex transactions
7. Language Precedence: Required when agreement is in both Arabic and English
8. Training and Support: Required for technical equipment or complex products
9. Compliance with Laws: Required for regulated products or specific industry requirements
1. Schedule 1 - Product Specifications: Detailed technical specifications of goods being sold
2. Schedule 2 - Pricing Structure: Detailed breakdown of prices, including any volume discounts or special terms
3. Schedule 3 - Delivery Schedule: Detailed timeline for delivery if multiple shipments are involved
4. Schedule 4 - Quality Standards: Specific quality requirements and standards to be met
5. Schedule 5 - Warranty Terms: Detailed warranty terms and procedures
6. Appendix A - Required Documents: List of documents required for the transaction (e.g., certificates of origin, quality certificates)
7. Appendix B - Testing Procedures: Detailed procedures for product testing and acceptance
8. Appendix C - After-Sales Support: Details of any after-sales service or support provisions
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