Download free, fully‑editable Purchase Agreement templates in Microsoft Word. Includes asset sale, equipment purchase, software licensing, business acquisition and more—plus a step‑by‑step guide. You can explore all of our Agreement Templates to find one suitable for your requirements.
It does not matter in most cases if you are buying goods or services, for example, pieces of equipment, software programs, real estate properties, and parcels of land or even an entire company, a mere receipt of payment cannot suffice to protect one’s interests. Purchase Agreement (also known as Sale or Purchase Contract) clearly indicates the price, the assets being bought, modes of payment, warranty requirements, and even what actions to be taken in the event of a breach by the other party. So loss is all covered around every corner; no one terms cannot be included in the deal and no one takes the party that did not comply with what was agreed for a ride in case of a disagreement.
What Is a Purchase Agreement?
A Purchase Agreement is a contract that creates a legal obligation between a buyer and a seller and provides in detail the aspects of selling what specific goods, property or business. It may include elements such as sale amount (also including any existing deposit amount, financing options or earn-out conditions), an inventory listing the assets, essential representations and warranties (for example, “the seller does and will have the right and title to sell the goods or the business” and “the Merchantable goods do not contain any defects”), conditions (e.g. Credit facilities and Title Approvals), closing process (i.e. pay Delivery, delivery to the division, place of execution). Further, the contract even explains the actions which the parties stand required to perform for the period after the Closing-which may include warranties, including indemnities, restrictions from competition after a business sale, and failure shall include such performance or forced liquidation or cancellation. This ensures that all the above statements of intention and understanding are cemented into one single binding document, enhancing and elaborate legal certainty and enforceability if things were to go wrong.
How to Use a Purchase Agreement Sample in Word?
Access the MS Word document you have downloaded and read each clause carefully for better comprehension. Thereafter, substitute each specific ‘bracketed text’ such as “[Seller Name]”, “[Buyer Name]”, “[Closing Date]”, “[Asset Description]” and “[Purchase Price]” contained which are used as placeholders, with the real agreement information that was discussed. Note the sections that cover the listing of assets being acquired and which may require you to attach a list having the stated equipment, license codes or which borders the specific real estate. In the event that the transaction had an element of financing, the relevant payment schedule table, interest rate and the specific security interest lien language will also be similarly inserted. (UCC – 1 filings, mortgages, trust deeds, etc.).
After all the changes are made and the document appropriately reflects the terms of the parties, it is advisable that each engages separate legal counsel. An attorney will ensure that the factual elements are true, the contractual terms are enforceable, the conditions precedent to the closing are reasonable and that there are no antitrust issues, any securities law issues, or any particular licensing issues. After the examination is carried out, produce two hard copies which are to be executed by both parties, by the buyer and seller (with maybe witnesses or in the presence of a notary if a document is to be notarized in your country for example real estate or other valuable assets), and the copy stay in a safe place and a searchable PDF is stored for reference.
Download Free Purchase Agreement Templates
Here are some preview and download links for you to get these free templates meant for use in MS Word.
Popular Types of Purchase Agreements
Choosing the right purchase‑agreement template starts with pinpointing the nature of the assets being transferred, the financing structure, and any post‑closing obligations. Below is a narrative overview of the most common purchase‑agreement formats, allowing you to decide which version—or which combination of clauses—best matches your transaction.
Asset‑Sale Purchase Agreement
It is a convenient instrument for marketing personal assets and other tangible goods like equipment, warehouse stock, or simply the good image of the institution. This template entails the enumeration of a ton of controlled assets, provides that changes in ownership come at the closure of the transaction, and does not fail to indemnify the buyer against claims to the respective property. The seller further explains that the goods have no encumbrances and correspond to the condition stated ‘as is’ unless red otherwise. In addition, any tools left over or any equipment not taken away are dealt with herein while there is even a possibility of a post-conclusion examination, should any latent defect be reported by the Purchaser.
Equipment Purchase Agreement
It is designed specifically for expensive, and specialized equipment (such as, machines, medical devices, construction tools). Apart from the asset description which is often anticipated in an agreement, this also covers a calibration and testing warranty, spare parts delivery schedules and service and maintenance agreements which may also require the seller to train or provide on-site support during a specific period of time after conveyance. Applicable form of equipment is usually associated with financing therefore, the template also contains an incurred security interest upon collateral and what kind of collateral will be filed (UCC-1) as well.
Software License Purchase Agreement
This terms and conditions is signed when a client purchases the license to use software for an extended period or indefinitely, or he licenses SaaS solutions or source codes. The template discusses the parameters of the license (users, territories), the mode of delivery (via download, physical media, cloud, etc.) as well as support and upgrades will be taken care of by the vendor. It also provides representation and warranty of no third party’s intellectual property rights will be infringed by the use of the software and also Buyer is reimbursed for any expenses incurred due to a claim of copyright or patent infringement. A source code escrow reservation shall be provided as a separate document, if the Purchase Agreement includes such source code escrow reservation.
Real‑Estate Purchase Agreement
The Purchase Agreement, when it concerns real property, involves the inclusion of the legal description, warranty against defects in title in case of property being conveyed, zoning and environment, as well as a ‘closing conditions’ section for money procuring, due inspection and the availability of certain described permissions. The deal usually provides the distribution of costs of closing the transaction (pro rata taxes, charges originating in recording and escrow) and obliges the seller to offer a first option of sale in case the seller retains the desire to buy back the property.
Business Acquisition Purchase Agreement
In cases where the acquisition involves the entire business as a going concern, the agreement not only embraces assets but also mobilizes liabilities. It includes assurance of the accuracy of the financial statements, the presence of major contracts, issues affecting employees (transfer notification and restrictive covenants), and the related proprietary rights. Provided, that there are also guidelines for performance-based payment structures termed earn-outs: All or a part of the purchase consideration is made after the closing of the transaction subject to satisfaction of several performance standards, which can be very specific with audit rights. The Purchase Agreement further deals with outstanding debts, choice of tax attributes, or transition services promised by the seller.
Stock Purchase Agreement
Management of a firm with shares, however, is liking to be applied to a buyer more than the assets of an enterprise. Its templates specifies the classes of shares and numbers of each, proves that the shares have been issued legally and are eligible to be traded free, provides a ‘buyer’s right to inspect’ covenant where the buyer can take a look at the corporation’s books before the transaction is consummated. The document also ensures that if required by law the approval of the shareholders is obtained, cover any lock-up restrictions, and outgoing covenants, such as a non-solicitation provisions for employees, is also provided.
Merger Agreement (Asset‑Purchase Hybrid)
In certain transactions, certain assets are purchased by the buyer, whereas specific assets are retained by the seller, often to circumvent certain liabilities. The Purchase Agreement template differentiated what was referred to as ‘Included Assets’ from about ‘Excluded Assets’, the template broke down the Purchase Price among the described tangible and intangible assets taking into account tax considerations, and included a restriction to do business on defined terms and conditions.
International Purchase Agreement
The Purchase Agreement must address conversion of obligations into other currency, incoterms (for example, FOB, CIF or DDP), sanctions surcharges and exchange rate risks if they pertain to cross-border contracts. In addition to these terms, the template contains a governing law provision that specifies an objective choice of law, in addition to a forum selection provision and an affirmation that any export permit required has been secured.
Construction‑Materials Purchase Agreement
In the case when a contractor procures a large amount of construction materials from a supplier contract provides for, delivery date provisions are included, rights regarding inspection upon the supplied goods, sanctions for lateness in delivering, and a “pricing inclusions” provision reflecting indexation of the cost components, steel or wood for example, to the current indices.
Intellectual‑Property Purchase Agreement
This can be advantageous where there are Transfer of patent rights, Transfer of Trademark rights, and/or mere transfer of Copyright rights or Transfer of Trade secrets. It outlines the details of each asset’s intellectual property, owner’s warranty that the recipient shall not infringe the rights of third parties, an obligation to assign target, signing such assignment letters in the appropriate state agencies by the seller, as well as a secrecy provision which is effective upon closing.
Consignment Purchase Agreement
The sale arrangement for consignment as practiced describes that the buyer forwards the money to the seller only once the goods have been disposed of to another person. This agreement incorporates the consignment interval, it specifies the percentage of the consignment value retained by the seller, how often this occurs, and what happens to the unsold products once the consignment period is up in terms of returning them.
The templates, which are simple in nature, may, however, be malleable with each other, permitting them to vary their content to suit the details of a multi-faceted agreement. A well structured Purchase Agreement, which is not only protective, but also legal and speaks to the process of complexity and predictability can be prepared by making choices of different parts depending on the nature of the asset, the way it will be financed, the services that will be rendered after closing, and the requirements imposed by jurisdictions.
