Vendor Finance Agreement

WHAT’S IT FOR?

A Vendor Finance Agreement is an agreement between a vendor and purchaser, under which a vendor agrees to lend all or part of the purchase price of a business to the purchaser. It is often used where a purchaser does not have the full funds available to afford the purchase of a business, and so the seller agrees to ‘loan’ part of purchase price to the buyer for a set period, at an agreed interest rate. A Vendor Finance Agreement includes important provisions, such as the repayment schedule, interest amounts and what will happen if the borrower defaults on the repayments. It is important you engage a lawyer to ensure you are appropriately protected.

WHAT’S INCLUDED?We’ll draft a Vendor Finance Agreement in accordance with your requirements.

This package includes:

• Drafting a secured Loan Agreement in accordance with the requirements of your business
• Phone consultations (up to 60 minutes) with a Sprintlaw lawyer who will take your instructions, advise you on the legal issues you need to know and answer your questions about the document
• 1 x complimentary amendment to the final draft we provide you, as long as you request the amendment within 10 business days of us delivering the final draft