The Sold As Is Contract is essential for transactions where goods are being sold in their current condition without additional warranties or guarantees beyond those mandated by law. This document is commonly used in Australia for second-hand goods, surplus inventory, demonstrator models, or items with known imperfections. It protects sellers by clearly documenting the 'as is' nature of the sale while ensuring compliance with mandatory provisions of the Australian Consumer Law. The contract includes detailed descriptions of the goods' condition, known defects, and buyer acknowledgments, making it suitable for both business-to-business and business-to-consumer transactions. It's particularly important in jurisdictions where consumer protection laws are strong, as certain guarantees cannot be contracted out of, even in 'as is' sales.
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1. Parties: Identification and details of the seller and buyer
2. Background: Context of the sale and acknowledgment that the goods are being sold 'as is'
3. Definitions: Key terms used in the agreement including 'as is', 'goods', and other relevant definitions
4. Sale and Purchase: Details of the goods being sold and the purchase price
5. Condition of Goods: Detailed description of the current condition of the goods and any known defects
6. As Is Clause: Express statement that goods are sold 'as is' with no warranties or guarantees except those mandated by law
7. Buyer's Acknowledgments: Buyer's confirmation of inspection and acceptance of goods in current condition
8. Price and Payment: Purchase price, payment terms, and method of payment
9. Delivery: Terms and conditions for delivery or collection of the goods
10. Risk and Title: Transfer of risk and ownership provisions
11. Mandatory Consumer Guarantees: Statement of any applicable mandatory consumer guarantees that cannot be excluded under Australian Consumer Law
12. Governing Law: Specification that Australian law governs the agreement
13. Execution: Signature blocks and execution provisions
1. Insurance: Required if there's a gap between purchase and collection/delivery of valuable items
2. Third-Party Claims: Include when selling items that might be subject to third-party intellectual property rights or other claims
3. Export/Import Requirements: Include for international sales or items with special regulatory requirements
4. Inspection Period: Optional clause allowing buyer a specific period to inspect goods before finalizing purchase
5. Return Policy: Include if offering any return rights despite 'as is' nature
6. Dispute Resolution: Include for high-value items or complex sales to specify dispute resolution process
1. Schedule 1 - Description of Goods: Detailed description of goods including photographs, serial numbers, and specific condition notes
2. Schedule 2 - Known Defects: Comprehensive list of known defects or issues with the goods
3. Schedule 3 - Inspection Report: If applicable, third-party inspection report or condition assessment
4. Appendix A - Photographs: Dated photographs showing the condition of the goods
5. Appendix B - Service History: For mechanical items, history of repairs and maintenance
6. Appendix C - Compliance Certificates: Any relevant safety or compliance certificates for the goods
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