MEMORANDUM OF AGREEMENT OF DISPOSAL/SALE
Entered into by and between
THE GOVERNMENT OF THE REPUBLIC OF BOTSWANA
As represented by ___________________(Disposing Entity)
(Hereinafter referred to as “The Government” or “Seller”)
Represented herein by ____________________ in his capacity as the
______________________ (Accounting Officer) of __________________________
(Disposing Entity), He being duly authorized thereto;
And
………………………………………………………………………………………
(Hereinafter referred to as the PURCHASER)
Represented herein by
the………………………
………………………………….
in
his
capacity
as
WHEREAS __________________ (Disposing Entity) is the registered owner of the
following assets as per Annexure A (Disposal Information);
CERTAIN: _____________________________________________________________
_____________________________________________________________
SITUATE: in__________________ _____________________.
WHICH item(s) is (are) identified as (Asset Ref. No) ____________
AND WHEREAS the Government is desirous of selling the aforesaid assets and the
purchaser is desirous of buying same.
Definitions
In this agreement, except where the context otherwise requires:
“The Government” means the Government of Botswana as herein represented by the
Accounting Officer of the Disposing Entity as the executing authority, and permitted
assigns; and has legal possession of the asset.
“The Purchaser” means the winning bidder as awarded the tender to purchase/dispose the
tendered assets by Public Procurement and Asset Disposal Board or it Competent
Committees.
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“Asset” means the boarded items that have been awarded to the purchaser to buy.
“Agreement” means the agreement together with the bidding package (Annexure A) and
returnable documents forming the bid proposal (Annexure B) by the Purchaser.
“As Is” means the asset is sold without any warranties as to the condition and/or the
fitness of the asset for a particular use. Purchasers are solely responsible for examining
and judging the asset for their own protection. Otherwise known as “As is” “Where Is”
and “In its Present Condition”.
“Reserve Price” the minimum price that the seller being the government is willing to
accept for an asset to be sold.
“Parties” means the Government who is the Seller and the Purchaser, and “Party” shall
mean either one of them.
Now therefore it is agreed by the parties as follows:
1. The
Purchaser
shall
pay
to
the
Seller
the
sum
of
P…………………………………
(………………………….………………………Pula) the Purchaser price of the
aforesaid asset which price is equal or higher than the reserve price of the asset(s)
as set out in the bidding package referred to as Annexure A. The purchase price is
payable within two (2) days of award of the tender.
2. The payment should be made by cash or bank guaranteed cheques on the same
day of the award of tender. The purchaser who fails to make payment within
stipulated time will the deposit paid to the government and those items not paid
for will be re-sold immediately or at a later date to be decided by the Government.
3. The Government shall give access to the Purchaser to enter and remove the sold
asset from the premises after payment is done within two (2) days. Removal of
items will only be allowed on presentation of an official receipt of purchase. The
ownership of items not removed within two (2) days after the sale will revert to
the Government without any compensation to the buyer and will be re-sold at a
later date to be decided by the Government.
4. The Government undertakes to make available to the purchaser at the time of
signing this agreement all the documents necessary for the prompt registration of
the asset with appropriate authority.
5. Purchaser shall take immediately possession of the asset and shall transfer the
same to itself on receipt of the documents referred to in paragraph 4 above.
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6. All the payments shall be made to the government at the address stated in the
Invitation to Tender.
7. The assets are sold “As Is” condition. The Government shall not be responsible
for any defects latent or patent or any damage resulting there from and the
purchaser hereby agrees to accept the asset/items as they stand with all their
faults.
8. The purchaser agrees that no warranties or representations have been made or
given to the state, condition or fitness of the items which the Purchaser takes “As
Is” and agrees to accept all risks of whatsoever nature.
9. The Purchaser hereby acknowledges that the assets are second hand, and that the
Purchaser has inspected and is satisfied with their condition.
10. The agreement shall be considered as made in Botswana and subject to the Laws
of Botswana.
11. This agreement constitutes the sole record of the terms and conditions agreed to
by the parties and shall come into effect on the same being signed by the parties.
12. No party shall be bound by any express or implied term, representation, warranty,
promise or like not recorded herein.
13. No addition to, variation, or agreement will be of force or effect unless in writing
and signed by or on behalf of the parties.
14. The Government chooses as its Domicilium
………………………………………………….
Citandi
et
executandi
15. The PURCHASER chooses as its Domicilium Citandi et Executandi, Plot
…………………………., P.O. Box ………….., ………………..
THUS DONE AND SIGNED AT…………………………ON THIS…………………
DAY OF ………………….20… IN THE PRESENCE OF THE UNDERSIGNED
WITNESSES.
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AS WITNESSES:
1. ………………….
…………………………….
2. ………………….
FOR PURCHASER
(DULY AUTHORISED)
THUS DONE AND SIGNED AT ……………………. ON THIS…………………..
DAY OF ………………..20… IN THE PRESENCE OF THE UNDERSIGNED
WITNESSES.
AS WITNESSES:
1. …………………………..
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…………………………..
FOR GOVERNMENT
………………………….
(DULY AUTHORISED)
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