The Sub Sale Agreement is commonly used in Singapore when a buyer wishes to sell their purchase rights before completing their own acquisition. This document is particularly relevant in property transactions and goods trading, where market conditions or business opportunities make it advantageous to transfer rights before completion. The agreement must carefully address the rights and obligations of all parties, including the original seller, while ensuring compliance with Singapore's legal framework. The Sub Sale Agreement typically includes purchase price, payment terms, warranties, and completion requirements, with specific provisions to protect all parties' interests throughout the transaction process.
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1. Parties: Details of the seller, sub-seller, and purchaser
2. Background: Context of the original sale and subsequent sub-sale
3. Definitions: Key terms used throughout the agreement including references to relevant legislation (Sale of Goods Act, Civil Law Act, etc.)
4. Subject Matter of Sale: Description of property/goods being sold
5. Purchase Price: Amount and payment terms
6. Completion: Timing and process of completion
7. Representations and Warranties: Standard warranties by parties
8. Governing Law: Jurisdiction and applicable law (Singapore)
1. Conditions Precedent: Used when completion depends on specific conditions being met, such as regulatory approvals or third-party consents
2. Tax Provisions: Specific arrangements regarding GST, stamp duty, and other applicable taxes
3. Assignment Rights: Rights and restrictions regarding assignment of the agreement to third parties
1. Schedule 1 - Property Details: Detailed description of property/goods including all relevant specifications
2. Schedule 2 - Payment Schedule: Breakdown of payment terms, installments, and due dates
3. Schedule 3 - Original Sale Agreement: Copy of the original sale agreement and relevant transfer documentation
4. Schedule 4 - Title Documents: Copies of relevant ownership documents and certificates
5. Schedule 5 - Completion Requirements: Comprehensive list of documents and requirements for completion
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