The Buy and Sell Contract is a fundamental commercial document used in Austrian business and private transactions for the transfer of goods or assets. This contract type is essential when parties wish to document the terms and conditions of a sale transaction with legal certainty under Austrian law. It is structured to comply with the Austrian Civil Code (ABGB), the Commercial Code (UGB), and relevant EU regulations, making it suitable for both business-to-business and business-to-consumer transactions. The document includes crucial elements such as precise identification of the goods, payment terms, delivery conditions, and warranty provisions, while also addressing risk transfer and ownership rights. It's particularly important for significant purchases where parties need clear documentation of their rights and obligations, and can be adapted for various types of goods from commercial equipment to consumer products.
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1. Parties: Identification and details of the seller and buyer, including full legal names, addresses, and registration numbers if companies
2. Background: Context of the transaction and brief description of the parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Object of Sale: Detailed description of the goods being sold, including quantity, quality, and specifications
5. Purchase Price: The agreed purchase price, currency, and whether VAT is included
6. Payment Terms: Payment schedule, method of payment, and any conditions for payment
7. Delivery: Terms of delivery, including time, place, and method of delivery
8. Transfer of Ownership: Specific provisions regarding when and how ownership transfers from seller to buyer
9. Warranties: Statutory and contractual warranties regarding the goods
10. Defects and Claims: Process for handling defective goods and making warranty claims
11. Termination: Circumstances under which the contract can be terminated and consequences
12. Governing Law and Jurisdiction: Confirmation of Austrian law as governing law and jurisdiction for disputes
13. Signatures: Execution blocks for both parties
1. Intellectual Property Rights: Required when the sale involves goods with associated intellectual property rights
2. Export Control: Necessary for international sales or goods subject to export restrictions
3. Confidentiality: Important when the transaction involves sensitive commercial information
4. Insurance: Required for high-value goods or when specific risks need to be covered during transport
5. Force Majeure: Recommended for contracts with extended delivery periods or international elements
6. Compliance with Laws: Important when dealing with regulated goods or cross-border transactions
7. Assignment: Needed when transfer rights need to be restricted or specifically permitted
1. Technical Specifications: Detailed technical description of the goods, including drawings, specifications, and standards
2. Payment Schedule: Detailed breakdown of payment installments and conditions if payment is not made in a single transaction
3. Delivery Schedule: Required for multiple deliveries or complex logistics arrangements
4. Warranty Certificate: Detailed warranty terms and conditions, particularly for technical or mechanical goods
5. Condition Report: For used goods or items sold 'as is', documenting current condition and any defects
6. Required Certifications: Copies of necessary certificates, permits, or regulatory approvals
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