Bulk Sales Escrow Agreement
Date: ____________________
To: ______________________
Under the terms and conditions of a contract between ____________, referred to as SELLER, and ______________, referred as BUYER, for the bulk sale of a certain business known as ________________ __________, the parties herewith agree to the following escrow instructions:
A total of Rs _____ (____________________ &___/100 Rupees) will be deposited. The Fund shall be invested from time to time in an interest bearing account with a national bank that is insured by the F.D.I.C.; provided, however, that in the event that the
deposit at any time exceeds Rs_________, the deposit shall be made with a bank with capital and surplus of at least Rs._____________.
If, prior to termination of the escrow, BUYER, notifies of any breach of warranty with respect to the indebtedness of Seller to its creditors under the terms and provisions of the bulk sale and such notice shall specify the amount which Buyer shall claim is due and owing to Buyer by virtue of such breach of claim of breach, you shall, within ten days from and after the receipt of such notice from Buyer, notify Seller in writing of such claim by sending written notice thereof by registered mail, return receipt requested, to Buyer at the following address……
Note: This is just the part of the agreement. To get it drafted completely by legal experts, kindly contact the expert team of Aapka Consultant by clicking here
OUR SERVICES
Company Registration I Trademark I Copyright I Patent I GST I MSME
ISO Certification I Website/App Policy I Legal Documentation
Annual Compliance I Connect Consultant
Visit: Aapka Consultant to get Online Services of CA CS & Lawyers
