The As Is Sales Contract is a crucial document used in Canadian commercial transactions where goods or assets are being sold in their current condition without traditional warranties or guarantees. This type of contract is commonly used for used equipment sales, surplus asset disposition, or situations where the seller wishes to limit their liability regarding the condition of the goods. The document needs to comply with Canadian federal and provincial requirements, particularly regarding consumer protection and sale of goods legislation. It typically includes detailed descriptions of the goods, explicit warranty disclaimers, inspection provisions, and risk transfer terms. This contract type is particularly important in protecting sellers while ensuring buyers understand they are purchasing items without typical warranties, except those that cannot be legally disclaimed under Canadian law.
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1. Parties: Identifies and provides full legal names and addresses of the seller and buyer
2. Background: Briefly describes the context of the sale and the parties' intention to enter into an 'as is' transaction
3. Definitions: Defines key terms used in the agreement, including 'as is' and any technical terms specific to the goods
4. Sale and Purchase: Describes the basic agreement to sell and purchase the goods in their current condition
5. Purchase Price and Payment: Specifies the purchase price, payment method, and payment terms
6. 'As Is' Condition and Disclaimer: Explicitly states that the goods are sold 'as is' and includes all necessary warranty disclaimers
7. Delivery and Transfer of Risk: Details the delivery arrangements and when risk passes to the buyer
8. Buyer's Acknowledgments: Contains buyer's confirmation of inspection opportunity and acceptance of condition
9. Entire Agreement: States that the written contract represents the complete agreement between parties
10. Governing Law: Specifies that Canadian law governs the agreement
11. Execution: Signature blocks and execution details
1. Inspection Period: Used when buyer is given a specific period to inspect the goods before finalizing the purchase
2. Condition Precedents: Include if there are any conditions that must be met before the sale becomes final
3. Security Interest: Required if seller is retaining any security interest in the goods
4. Insurance: Used when specifying insurance requirements during any transition period
5. Confidentiality: Include for sales involving sensitive information or trade secrets
6. Assignment: Include if either party needs the right to assign the contract
7. Dispute Resolution: Optional section specifying arbitration or mediation requirements
8. Severability: Include for longer contracts to ensure enforceability of remaining provisions if one is invalid
1. Schedule A - Description of Goods: Detailed description of the goods being sold, including any known defects or damage
2. Schedule B - Inspection Report: If available, third-party inspection report or condition assessment
3. Schedule C - Bill of Sale: Form of bill of sale to be executed at closing
4. Schedule D - Payment Schedule: If payment is in installments, detailed payment schedule
5. Schedule E - Delivery Details: Specific delivery instructions, locations, and timelines
6. Appendix 1 - Photographs: Visual documentation of the goods' condition at time of sale
7. Appendix 2 - Maintenance Records: If available, historical maintenance or repair records
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