The Bulk Sale Agreement is a crucial commercial document used when businesses engage in large-volume purchase transactions in Hong Kong. It is particularly relevant for wholesale trading, manufacturing, and distribution operations where goods are sold in significant quantities. The agreement must comply with Hong Kong's commercial law framework, particularly the Sale of Goods Ordinance (Cap. 26) and related regulations. Typically used in business-to-business transactions, this agreement covers essential elements such as quantity specifications, quality standards, delivery schedules, price mechanisms, and risk allocation. It's designed to protect both parties' interests while facilitating smooth execution of large-scale commercial transactions in Hong Kong's dynamic business environment.
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1. Parties: Identification of seller and buyer, including full legal names, registration details, and addresses
2. Background: Context of the bulk sale arrangement and brief description of the business relationship
3. Definitions: Key terms used throughout the agreement, including technical specifications, measurement units, and industry-specific terminology
4. Sale and Purchase: Core agreement for the sale and purchase of goods in bulk, including quantity and basic specifications
5. Price and Payment: Purchase price, payment terms, method of payment, and any adjustments
6. Delivery: Delivery terms, schedule, location, and logistics arrangements
7. Title and Risk: Transfer of ownership and risk in the goods
8. Quality and Inspection: Quality standards, inspection procedures, and acceptance criteria
9. Warranties and Representations: Warranties regarding goods quality, title, and compliance with specifications
10. Term and Termination: Duration of agreement and circumstances for termination
11. Force Majeure: Events excusing performance and procedures for handling such events
12. Confidentiality: Protection of confidential information exchanged during the transaction
13. Governing Law and Jurisdiction: Hong Kong law as governing law and jurisdiction for disputes
14. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Insurance: Required when specific insurance coverage is needed for the goods during transit or storage
2. Security: Used when payment security or performance guarantees are required
3. Export/Import Requirements: Necessary for international bulk sales requiring compliance with trade regulations
4. Storage: Required when temporary storage arrangements are part of the transaction
5. Price Adjustment Mechanism: Used for long-term agreements where prices may need adjustment
6. Intellectual Property: Required when the goods involve branded products or proprietary technology
7. Environmental Compliance: Necessary for goods subject to environmental regulations or hazardous materials
8. Sub-contracting: Used when either party may need to engage third parties for performance
1. Schedule 1 - Specification of Goods: Detailed technical specifications, quantities, and quality standards of goods
2. Schedule 2 - Pricing Schedule: Detailed pricing information, including unit prices and volume discounts
3. Schedule 3 - Delivery Schedule: Detailed delivery timelines, locations, and specific requirements
4. Schedule 4 - Quality Control Procedures: Detailed inspection and testing procedures
5. Schedule 5 - Form of Quality Certificate: Template for quality certification documentation
6. Schedule 6 - Storage Requirements: Specific requirements for storage if applicable
7. Appendix A - Required Documentation: List of required documents for customs, quality certification, or regulatory compliance
8. Appendix B - Contact Details: Key contact persons and their details for both parties
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