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Business Sale Agreement
Made under the Business Registration Service Act 2015 & the Law of Contract Act Cap. 23, Laws of Kenya
This Agreement for the Sale of a Business is entered into on the ___ day of Month, Year, between the SELLER and the BUYER described below.
1. Parties
Full Name
ID Number
Estate, Town, County
+254 7XX XXX XXX
Full Name
ID Number
Estate, Town, County
+254 7XX XXX XXX
2. Business Details
Business Name
Sole Proprietorship / Partnership / Limited Company
Reg. No.
KRA PIN
Building, Street, Town
e.g. Retail, Salon, Cyber Café, Restaurant
Permit No.
DD/MM/YYYY
3. Assets Included in the Sale
Item / Asset
Description / Quantity
Estimated Value (KSh)
Stock / Inventory
As per attached stock list
0,000
Equipment & Furniture
As per attached schedule
0,000
Goodwill
Trade name, customer base, supplier relationships
0,000
Lease Rights
Premises lease — consent of landlord required
0,000
Intellectual Property
Logo, social media accounts, website
0,000
Other (specify)
0,000
Assets NOT included in this sale: List any excluded assets, e.g. personal vehicle, specific equipment
4. Purchase Price & Payment
Total Agreed Purchase Price (Kenya Shillings)
KSh 0,000,000
Amount
Amount
DD/MM/YYYY
M-Pesa / Bank Transfer / Cheque / Instalment
DD/MM/YYYY
Reference No.
5. Terms & Conditions
The Seller warrants they are the lawful owner of the business and has full authority to sell it, including all assets listed above.
The Seller warrants that the business has no outstanding debts, liabilities or legal disputes that have not been disclosed to the Buyer, as of the date of this agreement.
The Seller agrees to provide the Buyer with all relevant licences, permits, supplier contacts, passwords and business records on the handover date.
The Seller agrees to a non-compete period of 6 months within a radius of 5 km from the business premises following handover, unless otherwise agreed.
The Seller shall provide handover training for a period of 2 weeks at no additional cost after the takeover date.
Any outstanding taxes, NHIF, NSSF or statutory obligations accrued before the handover date remain the sole responsibility of the Seller.
Transfer of business name/registration with the Business Registration Service (BRS) shall be completed by the Buyer within 30 days of full payment.
If the Buyer defaults on payment by the agreed due date, the Seller reserves the right to forfeit the deposit and cancel this agreement.
Additional conditions, if any (or delete this line)
⚠️ Note: Business transfer must be registered with the Business Registration Service (BRS) via eCitizen. If the business is a limited company, additional procedures under the Companies Act 2015 apply. Consult a Kenyan advocate for high-value transactions.