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Why do I need a Vendor Finance Agreement?
An important agreement between vendor and purchaser, a Vendor Finance Agreement covers key terms like the repayment schedule, interest amounts and what will happen if the borrower defaults on the repayments.
Drafting a Vendor Finance Agreement in accordance with your requirements
Phone consultations with our expert lawyers
Fast turnarounds
Fixed-fee pricing
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This contract is essentially an agreement between a vendor and a purchaser, where the vendor agrees to lend all or part of the purchase price to the buyer.
It’s typically used when the buyer does not have the full funds available to complete the business purchase.
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 typically 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.
The vendor finance agreement should clearly outline the specifics of the arrangement. The following terms are commonly included in such agreements:
Ensuring that you have a lawyer both draft and review your vendor finance agreement will give you the best chances of avoiding future discrepancies.
Offering vendor finance requires serious consideration of your legals and the protection of both parties’ rights. Properly documenting the transaction is the best way to minimise risk – this is where a lawyer comes in handy! A lawyer is able to work closely with you and your business to discuss terms best suited to protect your business
Our fixed-fee Vendor Finance Agreement packages start at $1500 + GST. This includes a Vendor Finance Agreement drafted to meet your specific requirements, phone consultations with a Sprintlaw lawyer and a complimentary amendment to the final draft we provide to you.
Our legal team is made up of experienced lawyers, who are specialists in various areas of law and hold an Australian legal practising certificate. None of our Sprintlaw lawyers are New Zealand qualified lawyers and they do not currently hold a New Zealand practising certificate. They provide legal services working remotely from Australia via our ‘legal consultancy’ model, through which (under section 6 and section 35 of the New Zealand Lawyers and Conveyancers Act 2006) our Australian legal team are permitted to provide legal services to New Zealand businesses provided they do not provide services in certain ‘reserved’ areas of law. You can read our FAQ page to learn a bit more about our ‘legal consultancy’ model.
Given the strong similarities between Australian and New Zealand law, and the areas of law in which we practice (being small business and startup law), we do not view the fact that our lawyers have not qualified in New Zealand as having any substantive impact on the quality of our service. We are committed to ensuring that we provide high quality, affordable legal services to all our New Zealand clients.
Our legal team have all trained at leading Australian firms, but have left the traditional corporate law world to join us on our mission to create a new and better way of delivering legal services. They have specialist expertise in technology law, intellectual property law, contract drafting and review, corporate law and commercial law.
We’re an award-winning, totally online legal provider. Forget the hassle of meeting face-to-face. Our top-trained legal team is ready to help wherever you are in New Zealand.
Our legal team were recruited from top law firms and use our custom-built technology to provide a better and more affordable legal service.
1 / Get a free quote
Our legally trained consultants will prepare a fixed-fee quote for you.
2 / Accept online
Accept your fixed-fee quote and e-sign our engagement letter.
3 / Speak with us
Our expert legal team will talk you through your project via phone, video call or whatever suits!
That's it!
Receive your completed project, usually within 5 - 10 working days.
Adapt Leadership
“Can't speak highly enough of my experience with Sprintlaw - quality advice, fast and efficient responsiveness and a professional product.”
Kiindred
“I had a fantastic experience with Sprintlaw - it was easy, cost-effective and their lawyers provided very high quality advice. I could tell they really cared about my business.”
Soul Burger
“They’ve helped us tremendously and are seriously knowledgeable and honest. Couldn’t recommend the crew at Sprintlaw more!”