Sale Agreement Template Pakistan

AGREEMENT FOR SALE OF ASSETS / GOODS

Document Control

• Effective Date: [Date]
• Version: 1.0
• Jurisdiction: Islamic Republic of Pakistan (Governed by the Contract Act, 1872)

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LEGAL DISCLAIMER

NOTICE: This document is a generalized template provided for informational purposes only and does not constitute formal legal advice. Execution of this document without review by a qualified legal practitioner practicing in the relevant Pakistani jurisdiction may result in unintended legal or tax liabilities. Stamp duty requirements under the Stamp Act, 1899 vary by province (Punjab, Sindh, KPK, Balochistan, ICT). Consult local revenue authorities for appropriate stamp paper procurement.

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1. PARTIES

This Agreement is made on this [Day] day of [Month], [Year] ("Effective Date") between:

SELLER: [Full Legal Name], holding CNIC/Passport No. [Number], residing at [Address], hereinafter referred to as the "Seller".

BUYER: [Full Legal Name], holding CNIC/Passport No. [Number], residing at [Address], hereinafter referred to as the "Buyer".

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2. SUBJECT MATTER

The Seller agrees to sell, and the Buyer agrees to purchase, the following assets/goods ("Property"):

• Description: [Detailed description, including Serial/Registration No. where applicable]
• Condition: Sold on an "as-is, where-is" basis, with all faults and without warranties, express or implied.

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3. CONSIDERATION

The total consideration for the Property is [Amount in PKR] ([Amount in Words]).

• Payment Method: [e.g., Pay Order, Bank Draft, Online Transfer to Account No: [Account Details]]
• Schedule: Full payment shall be made on or before [Date].

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4. COVENANTS AND REPRESENTATIONS

4.1 Title: Seller warrants they are the sole, absolute, and lawful owner of the Property and possess full authority to sell the same. 4.2 Encumbrances: The Property is free from all liens, charges, mortgages, or litigation. 4.3 Inspection: Buyer acknowledges they have inspected the Property and accept its current state and condition. 4.4 Risk: Risk of loss/damage transfers to the Buyer immediately upon delivery of possession.

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5. GOVERNING LAW AND DISPUTE RESOLUTION

This Agreement shall be governed by the laws of Pakistan. Any dispute arising under this Agreement shall be referred to arbitration in [City, Province] in accordance with the Arbitration Act, 1940. The courts of [City] shall have exclusive jurisdiction.

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6. EXECUTION AND SIGNATURES

SELLER Signature: __________________________ Name: [Full Name] CNIC: [Number] Date: __________________________

BUYER Signature: __________________________ Name: [Full Name] CNIC: [Number] Date: __________________________

WITNESS 1 Signature: __________________________ Name: [Name] / CNIC: [Number]

WITNESS 2 Signature: __________________________ Name: [Name] / CNIC: [Number]

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STEP-BY-STEP EXECUTION GUIDE

1. Stamp Paper Acquisition: Purchase the appropriate value of non-judicial stamp paper from a licensed stamp vendor as per the Stamp Act, 1899 applicable in your province.
2. Drafting: Copy the text above onto the stamp paper. If the text exceeds one page, use continuation sheets (plain paper) and ensure all pages are signed/initialed by both parties.
3. Witnesses: Ensure two adult witnesses (holding valid CNICs) sign the document in the presence of the Seller and Buyer.
4. Notarization: Take the document to a Notary Public or an Oath Commissioner to attest the signatures. This confirms the identity of the parties and the date of execution.
5. Payment Evidence: Ensure all payments are made through banking channels (Pay Order/Crossed Cheque) to maintain an audit trail for tax authorities (FBR/Provincial Revenue).
6. Transfer of Title: If the Property involves titled assets (e.g., vehicles, real estate), visit the relevant department (Excise & Taxation, Land Revenue Office) to execute the formal transfer/mutation of title immediately following the signing of this Agreement.
7. Filing: Retain the original copy in a secure, fire-proof location. Provide a certified true copy to the counterparty.