The Buyer Seller Agreement Form is a fundamental commercial document used in Hong Kong for documenting sales transactions between parties. It serves as a crucial tool for businesses engaging in the purchase and sale of goods, whether for single transactions or ongoing commercial relationships. This agreement type is particularly relevant in Hong Kong's dynamic trading environment, where it helps establish clear terms and conditions while ensuring compliance with local legislation such as the Sale of Goods Ordinance (Cap. 26) and the Control of Exemption Clauses Ordinance (Cap. 71). The document is designed to protect both parties' interests by clearly defining their rights and obligations, including payment terms, delivery arrangements, product specifications, and warranty provisions. It is commonly used across various industries and can be adapted to suit different transaction scales, from simple retail purchases to complex international trade arrangements.
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1. Parties: Identifies and provides full details of the buyer and seller, including names, addresses, and registration numbers for companies
2. Background: Sets out the context of the agreement and basic premises of the transaction
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Sale and Purchase: Core terms of the sale including description of goods, quantity, and basic obligations
5. Price and Payment: Details of the purchase price, payment terms, method of payment, and payment schedule
6. Delivery: Terms regarding delivery of goods, including timing, location, and method
7. Title and Risk: Provisions regarding when title passes to the buyer and allocation of risk
8. Warranties and Representations: Standard warranties about the goods, their quality, and fitness for purpose
9. Inspection and Acceptance: Terms regarding buyer's right to inspect goods and acceptance procedures
10. Termination: Circumstances under which the agreement can be terminated and consequences
11. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes
12. General Provisions: Standard boilerplate clauses including notices, entire agreement, and severability
13. Execution: Signature blocks and execution formalities
1. Intellectual Property: Required when the goods involve IP rights or licenses
2. Confidentiality: Added when sensitive information will be exchanged during the transaction
3. Insurance: Include when specific insurance requirements are needed for high-value goods
4. Force Majeure: Added for long-term supply arrangements or when specifically requested
5. Import/Export Requirements: Required for international sales or goods subject to trade regulations
6. Quality Control: Include for manufacturing or specialized goods requiring specific standards
7. After-Sales Service: Added when maintenance or support services are part of the deal
8. Return Policy: Include for retail or consumer goods transactions
1. Schedule 1 - Specification of Goods: Detailed technical specifications and descriptions of the goods
2. Schedule 2 - Price List: Detailed pricing information, especially for multiple items or variable pricing
3. Schedule 3 - Delivery Schedule: Detailed delivery timelines and locations, especially for multiple deliveries
4. Schedule 4 - Quality Standards: Specific quality requirements and testing procedures
5. Schedule 5 - Warranty Terms: Detailed warranty terms and procedures
6. Appendix A - Form of Acceptance Certificate: Standard form for accepting delivered goods
7. Appendix B - Technical Documentation: Any required technical documents or manuals
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