Business divestments

Business divestments

With this agreement, the transferor transfers the business unit to a buyer, the transferee, for a consideration. The company is sold as a unit, with payables and receivables (unless it is otherwise agreed), and with the takeover of existing contractual relationships. The agreement can also include a non-competition clause for the seller, for a maximum period of five years, so that the seller does not exercise unfair competition against the purchaser. It is mandatory for this agreement to be in writing, under penalty of being declared null and void.


Contracts