Asset Sale Agreement with enhanced COVID related warranties
Business Purchase Agreement (COVID warranties)
A business or asset sale is the transfer of assets which make up a business
from a seller to a buyer. This Business Purchase Agreement (BPA) has been
drafted specifically to consider the COVID-19 pandemic and the associated
legal and business risks involved in an asset or business sale taking place
during the pandemic.
This template is based on our standard BPA and includes additional
warranties to cover the business fallout and uncertainty created by the
pandemic. The extent to which a business may be affected will vary from
business to business, but most buyers will want increased warranty
protection considering the important changes COVID-19 has introduced to
employment law and health and safety regulation, as well as the potential
impact on the business’s customers and supply chain, legal and regulatory
compliance and business continuity.
The COVID warranties included in this template are only a starting
point and customers may need to add to them depending on the business
Business sales can be complex, and this template has been specifically
drafted to be short form and designed for a relatively simple transaction.
This template does not include a guarantee and importantly, other than
provisions related to VAT, does not include any tax provisions or tax
warranties. Independent tax advice must be sought.
Once you have purchased access to the appropriate document folder click on
the “Download Document” button below. You will be asked what you want to do
with the file. It is recommended that you save the document to a location
of your choice prior to viewing.