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Contract To Sell Form

Contract To Sell Form Template for Singapore

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Key Requirements PROMPT example:

Contract To Sell Form

"I need a Contract To Sell Form under Singapore law for the sale of my manufacturing equipment to a local business, with payment to be made in three installments and completion scheduled for March 2025."

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What is a Contract To Sell Form?

The Contract to Sell Form is a crucial document in Singapore's commercial landscape, used when parties wish to formalize their agreement for the sale of property or goods. This document is particularly important as it creates binding obligations while allowing for conditions to be met before the final transfer of ownership. The form must comply with Singapore's legal framework, including the Civil Law Act and Sale of Goods Act, and typically includes detailed terms about the subject matter, price, payment schedule, and conditions precedent. It's commonly used in both commercial and residential property transactions, as well as in significant goods sales where a formal agreement is necessary before the final transfer.

What sections should be included in a Contract To Sell Form?

1. Parties: Identification and details of the seller and buyer

2. Background: Context and purpose of the sale

3. Definitions: Key terms used in the contract

4. Subject Matter of Sale: Detailed description of the property or goods being sold

5. Purchase Price: Amount and payment terms

6. Payment Terms: Schedule and method of payment

7. Conditions Precedent: Conditions that must be met before the sale becomes effective

8. Representations and Warranties: Statements of fact and promises by both parties

9. Completion: Terms and process for completing the sale

What sections are optional to include in a Contract To Sell Form?

1. Due Diligence: Buyer's right to inspect and verify the property/goods - Used for high-value transactions or complex assets

2. Financing Provisions: Terms related to obtaining financing - Used when buyer requires external financing

3. Title Investigation: Process for investigating title - Used for property transactions

4. Post-Completion Obligations: Ongoing obligations after sale completion - Used when there are continuing obligations

What schedules should be included in a Contract To Sell Form?

1. Property/Asset Description Schedule: Detailed description of the property or assets being sold

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Title Documents: Copies of relevant title documents

4. Due Diligence Documents: List of documents provided for due diligence

5. Completion Checklist: List of items to be completed at closing

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















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Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships in Singapore, including requirements for contract validity, rules on consideration and contractual capacity

Sale of Goods Act (Cap. 393): Regulates sale of goods transactions, defining rights and obligations of buyers and sellers, including conditions and warranties in sales contracts

Misrepresentation Act (Cap. 390): Addresses false statements made during contract formation and provides remedies for misrepresentation in contracts

Electronic Transactions Act (Cap. 88): Governs electronic transactions and provides legal recognition for electronic signatures and digital contracts

Property-specific legislation: Includes Sale of Commercial Properties Act, Residential Property Act, and Housing Development (Control and Licensing) Act for property-related transactions

Consumer Protection (Fair Trading) Act: Protects consumer interests in transactions and provides safeguards against unfair trading practices

Stamp Duties Act: Regulates the requirements, timing, and amount of stamp duty payments for various types of contracts and transactions

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in contracts and business transactions

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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