Business Purchase Agreement (pandemic/epidemic/public health emergency warranties)
A business or asset sale involves the seller transferring the assets that make up a business to the buyer. This Business Purchase Agreement (pandemic/epidemic/public health emergency warranties) is drafted for use where the transaction takes place during a pandemic, epidemic or other public health emergency, and the parties want the agreement to address the additional legal and commercial risks that can arise in those circumstances.
With Covid-19 now firmly in the rear view mirror, this template has been updated and all references to Covid removed. However, a business or asset sale may still take place during a generalised or localised public health emergency and this template seeks to cater for that situation.
What does Business Purchase Agreement (pandemic/epidemic/public health emergency warranties) do?
It documents a relatively straightforward business/asset sale on a short-form basis, while also providing an enhanced warranty package aimed at risks associated with a pandemic, epidemic or public health emergency.
What does Business Purchase Agreement (pandemic/epidemic/public health emergency warranties) cover?
This template is based on our standard Business Purchase Agreement and includes additional warranties intended to cover the potential fallout and uncertainty created by a pandemic/epidemic/public health emergency situation. Depending on the business being sold, this may include matters such as:
- employees and workplace health and safety
- customers and supply chain disruption
- legal and regulatory compliance risks
- business continuity and operational resilience
The warranties included in this template are only a starting point and may need to be added to depending on the business concerned.
When should you use Business Purchase Agreement (pandemic/epidemic/public health emergency warranties)?
Use this agreement where you are documenting a business/asset sale that is intended to be relatively simple in structure, and where the buyer requires additional warranty protection to address risks arising from a pandemic, epidemic or other public health emergency.
Key tax point
This template does not include a guarantee and, other than provisions related to VAT, does not include tax provisions or tax warranties. Independent tax advice must be sought.
Business Purchase Agreement (pandemic/epidemic/public health emergency warranties) is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.