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Deed Of Sale Of Franchise for Australia

Deed Of Sale Of Franchise Template for Australia

A comprehensive legal document governed by Australian law that formalizes the sale and transfer of a franchise business from an existing franchisee to a new franchisee. The deed ensures compliance with the Australian Franchising Code of Conduct and addresses all aspects of the business transfer, including assets, liabilities, employees, and operational requirements. It includes necessary provisions for franchisor consent, warranties, representations, and post-completion obligations, while incorporating specific requirements under Australian business and consumer law.

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Deed Of Sale Of Franchise

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What is a Deed Of Sale Of Franchise?

The Deed of Sale of Franchise is a crucial document used in Australia when transferring ownership of a franchise business from an existing franchisee to a new franchisee. It is designed to comply with the Australian Franchising Code of Conduct and other relevant federal and state legislation. This document is essential when a franchisee wishes to sell their franchise business, ensuring all aspects of the transfer are properly documented and legally binding. The deed covers comprehensive details including purchase price, assets transfer, employee arrangements, warranties, and post-sale obligations. It requires careful consideration of Australian competition law, consumer protection regulations, and specific industry requirements, while also addressing franchisor's rights and consent requirements. The document serves as both a record of the transaction and a roadmap for the transfer process, protecting all parties' interests and ensuring regulatory compliance.

What sections should be included in a Deed Of Sale Of Franchise?

1. Parties: Identification of the seller (current franchisee), buyer (incoming franchisee), and franchisor

2. Background: Context of the sale, including existing franchise agreement details and reason for transfer

3. Definitions: Comprehensive definitions of terms used throughout the deed

4. Sale and Purchase: Core transaction terms including purchase price, payment terms, and what is being transferred

5. Conditions Precedent: Prerequisites that must be satisfied before completion, including franchisor's consent

6. Completion: Details of the completion process, timing, and obligations of each party

7. Seller's Obligations: Specific obligations of the seller before, during, and after completion

8. Buyer's Obligations: Specific obligations of the buyer before, during, and after completion

9. Warranties and Representations: Warranties given by both seller and buyer regarding the business and their capacity

10. Assets and Liabilities: Detailed description of what is included/excluded in the sale

11. Employee Matters: Treatment of existing employees and related obligations

12. Restraint of Trade: Post-sale restrictions on the seller's business activities

13. Confidentiality: Protection of confidential information and trade secrets

14. GST: Treatment of GST in the transaction

15. Dispute Resolution: Process for resolving disputes between parties

16. General Provisions: Standard boilerplate clauses including notices, governing law, etc.

17. Execution: Formal execution blocks for all parties

What sections are optional to include in a Deed Of Sale Of Franchise?

1. Intellectual Property Assignment: Additional provisions for transfer of any seller-developed IP, used when seller has created unique IP

2. Lease Assignment: Provisions relating to transfer of premises lease, required when premises are leased

3. Training and Handover: Specific provisions for transition period and training, used when extensive handover is required

4. Third Party Consents: Provisions relating to obtaining necessary third party approvals, used when significant third party contracts exist

5. Stock: Detailed provisions for valuation and transfer of stock, used when significant inventory is involved

6. Earn-out Provisions: Structure for additional payments based on future performance, used when part of purchase price is performance-based

7. Security Arrangements: Details of any security for deferred payments, used when payment terms are extended

What schedules should be included in a Deed Of Sale Of Franchise?

1. Schedule 1 - Assets: Detailed list of all physical assets included in the sale

2. Schedule 2 - Intellectual Property: List of all IP rights being transferred

3. Schedule 3 - Contracts: List of all contracts being assigned or transferred

4. Schedule 4 - Employees: Details of all employees and their entitlements

5. Schedule 5 - Purchase Price Allocation: Breakdown of purchase price across different asset categories

6. Schedule 6 - Lease Details: Details of premises lease and related documents

7. Schedule 7 - Stock List: Inventory list and agreed valuation methodology

8. Appendix A - Franchisor's Consent: Written consent from franchisor for the transfer

9. Appendix B - Due Diligence Results: Summary of due diligence findings and disclosed matters

10. Appendix C - Handover Checklist: Detailed list of handover tasks and responsibilities

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Genie AI

Document Type

Sale Deed

Sector

Cost

Free to use
Relevant legal definitions






















































Clauses










































Relevant Industries

Retail

Food and Beverage

Automotive

Health and Fitness

Education and Training

Professional Services

Home Services

Beauty and Personal Care

Real Estate

Technology Services

Hospitality

Manufacturing

Distribution

Relevant Teams

Legal

Operations

Compliance

Finance

Business Development

Risk Management

Commercial

Franchise Support

Business Advisory

Property Management

Contract Administration

Relevant Roles

Franchise Development Manager

Business Development Manager

Legal Counsel

Commercial Lawyer

Franchise Operations Manager

Business Broker

Franchise Consultant

Chief Executive Officer

Chief Financial Officer

Compliance Officer

Risk Manager

Business Owner

Franchise Owner

Operations Director

Commercial Director

Legal Director

Business Transfer Specialist

Franchise Network Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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