Agreement For Sale Of Plant And Machinery

By on 2 December 2020.

11. If the company does not pay the seller the above balance and other charges, if, according to the invoice that the seller sent to the company, within one week of the date of installation and commissioning of the machine, the seller has the right to revoke that contract for up to one week and, in this case, the seller is allowed to withdraw the same from the company`s implementation. The costs of moving and transporting the company`s factory site to the vendor`s aforementioned premises will be borne by the company upon request. However, if the seller is unable to remove the machine and equipment in question due to a handicap on the part of the company or a legal act of the company, the company is required to obtain compensation equal to -Rs…. until these machines are removed by the seller. It is a comprehensive and flexible agreement for the purchase or sale of physical assets in all states. The nature or types of assets sold do not matter. For the suitability of the document, it is important that the transferred assets be large or large and require the seller to help the buyer to transport himself (including abroad). If you are dealing with smaller assets or intangible assets, this asset sale agreement may be more appropriate. 16. If a dispute arises between the parties in the context of this agreement or in the context of a claim against the other, the same thing is referred to the arbitration proceedings of a common arbitrator if it is agreed that those who, in order to appoint two arbitrators of one part of the dispute and arbitration, are governed by the Arbitration Act , 1940. The agreement is suitable for transactions where many assets are sold in large quantities and at the same time, where the seller does not want a “post-sale risk” and provides very limited guarantees as to the condition. The buyer receives what he or she sees only with the help of the seller sufficiently so that he or she can transport the items.

3. The price of this machine and equipment is in Rs. … whose company pays the seller an amount of Rs. … as serious money and partial payment of the price indicated before the delivery of said machine and equipment and the balance will be paid within one week by the installation of said machine and equipment in the factory of the company and the commissioning of it. 9. All taxes and other taxes payable for the aforementioned machinery and equipment are paid into the company`s account. 6.

Before the machine and equipment in question are removed from the seller`s site, the company lobby will take place in the company`s factory where it is to be installed by providing the necessary base, power supply, water supply and other requirements for the installation of the machine and equipment.15 The aforementioned warranty period expires when, during this period, the company sells the aforementioned machine and equipment to others or moves the machine and equipment elsewhere in that factory or by any other means.

An open source solution to project recording. Get ARK Now