A simplified version of agreement for the sale of used goods, where goods are sold on an “as is” or “as seen” basis, in the course of the parties’ businesses.
Simplified version may be appropriate depending on the relevant factors:
- The type of transaction. Is it a routine transaction where the risks are known and assessed
- The nature and value of the equipment. Is the equipment of a low value? Is it unique or can it be easily sourced elsewhere?
- The buyer’s risk profile. What level of risk is the buyer willing to accept and what risks does it face?
- The budget for negotiations. Is there a limited budget for legal and professional fees?
- The transaction timetable. Is there sufficient time to negotiate a longeragreement?