This site uses cookies.
Some of these cookies are essential to the operation of the site,
while others help to improve your experience by providing insights into how the site is being used.
For more information, please see the ProZ.com privacy policy.
This person has a SecurePRO™ card. Because this person is not a ProZ.com Plus subscriber, to view his or her SecurePRO™ card you must be a ProZ.com Business member or Plus subscriber.
Affiliations
This person is not affiliated with any business or Blue Board record at ProZ.com.
Translation - English SALE AND PURCHASE CONTRACT IN THE INTEREST OF THE THIRD PARTY
_____________, (hereinafter: the “Payer”) represented by ______________, acting on the basis of the Power of Attorney N_____, dated _________, issued by ________________, the citizen of the RA ______________, (passport ________, issued on ________, by ______), (hereinafter: the “Seller”) and the citizen of the RA ______________, (passport ________, issued on ________, by ______), (hereinafter: “Beneficiary”), (hereinafter together referred to as the “Parties”) concluded this contract (hereinafter: the “Contract”) on the following:
1. Subject of the Contract
1.1. The Seller sells and the Beneficiary acquires with ownership right three-room apartment (hereinafter: the “Apartment”) having area of _______ sq. m., located at the address of ________________. The part of the price of the Apartment shall be paid by the Payer in the interest of the Beneficiary and the other part of price shall be paid by the Beneficiary in the amount and in accordance with the procedure defined in Clause 3.1. of this Contract.
1.2. The price of the Apartment is __________ US dollars (______________) in equivalent Armenian drams at the exchange rate established by the Central Bank of the RA as of the day of payment.
1.3. At the moment of execution of this Contract the Apartment is owned by the Seller (base: Ownership certificate N ________, issued on __________).
1.4. By this Contract the Payer certifies that the Beneficiary had been informed on execution of this Contract in its favor and the Beneficiary certifies its approval with this regard.
1.5. The price of the Apartment is defined by consent of the Parties.
1.6. At the moment of execution of this Contract the Apartment is not sold, donated, pledged or put under arrest (base: Cadastre reference ______________).
1.7. There are no outstanding property tax or electricity, water supply and other utility bills or other payments due as of the moment of execution of this Contract.
2. Rights and Obligations of the Parties
2.1. The Seller shall have the right:
2.1.1. to require from the Payer payment of the price of the Apartment defined in Clause 1.1. of this Contract in accordance with the procedure, amount and terms specified in Clause 3.1. herein.
2.1.2. To refuse performance of the obligations under the Contract in case of breach by the Payer and/or the Beneficiary of the obligations defined in Clause of 3.1. of this Contract.
2.2. The Seller shall be obliged:
2.2.1. to provide maximum support to the Beneficiary with regard to state registration of the ownership right over the Apartment after notarial verification of this Contract.
2.2.2. To transfer the Apartment to the Beneficiary within 3 calendar days from the moment of registration of the Beneficiary’s ownership right over the Apartment. Transfer of the Apartment shall be certified by an acceptance act signed and sealed by the Parties which is considered the integral part of this Contract. Acceptance act shall contain information on general description including technical state of the Apartment being the subject of this Contract. The act shall be prepared by the Payer’s respective representative upon consent of the Parties.
2.2.3. To give an opportunity to the Payer’s respective representative to appraise technical state of the Apartment.
2.2.4. To hand over to the Beneficiary the keys of Apartment and related documents upon signing of the acceptance act.
2.2.5. To transfer to the Payer and the Beneficiary the Apartment free from the rights of the third parties.
2.2.6. To compensate the Payer for the caused losses in case of seizure of the Apartment by third parties on the grounds arisen before execution of this Contract.
2.3. The Payer shall have the right:
2.3.1. to refuse performance of or unilaterally terminate this Contract with the right to receive compensation from the Seller for subsequent losses in case if the Seller fails and/or refuses to perform obligations under the Contract.
2.3.2. To refuse performance of its obligations under the Contract in case if the attributes of the transferred Apartment does not correspond to these described in this Contract.
2.3.3. To send its respective representative for examination of the technical state of the Apartment.
2.4. The Payer shall be obliged:
2.4.1. to pay its part of the contract price of the Apartment in timely manner and in accordance with the procedure and amount defined in Clause 3.1.1. of this Contract.
2.4.2. To ensure preparation of the acceptance act.
2.5. The Beneficiary shall have the right:
2.5.1. to accept the Apartment from the Seller by the acceptance act.
2.5.2. To require from the Seller to be present in all the bodies where the Seller’s presence is necessary for performance of the activities arising from this Contract.
2.6. The Beneficiary shall be obliged:
2.6.1. to perform actions for state registration of the ownership right over the Apartment within 30 days term from the moment of notarial verification of this Contract.
2.6.2. To pay its part of the contract price of the Apartment in the amount and in accordance with the procedure defined in Clause 3.1.2. of this Contract.
2.6.3. To make payments arising from the state registration of the ownership right over the Apartment to assure state registration of the right over the property within the term specified.
2.6.4. Within ten days from the day of registration of the right to apply for registration at the place of residence and execution of subscription contracts with the respective energy and water supplying enterprises.
2.6.5. To inform the Payer of registration of the right of the Apartment and present the original copy of the certificate not later than within 2 calendar days from the moment of registration of the right and receipt of the ownership certificate of the Apartment.
3. The amount, procedure and terms of payments
3.1. The Parties determine the following term for paying of the agreed amount of the Apartment provided in Clause 1.2. of this Contract:
3.1.1. The Payer shall pay _______ (__________) US dollars equivalent RA drams from the total price of the Apartment by two phases:
1) The buyer shall transfer______ (___________) US dollars equivalent RA drams to the Seller’s bank account not later than within 3 working days after notarial verification of this Contract.
2) The payer shall transfer______ (___________) US dollars equivalent RA drams to the Seller’s bank account not later than within 3 working days from the moment of state registration by the Beneficiary of the ownership right over the property and presentation of the original copy of the ownership certificate to the Seller.
3.1.2. ______ (___________) US dollars equivalent RA drams of the total price of the Apartment shall be paid by the Beneficiary in cash and in full after state registration of the ownership right over the property in accordance with the term and procedure defined by mutual agreement with the Seller. Final payment of this amount shall be approved by the Parties through preparation of a receipt to be handed over by the Seller to the Beneficiary and shall contain the Seller's and the Beneficiary's passport details and signatures.
3.2. Expenses related to notarial verification of the Contract shall be carried out by the Seller.
3.3. Expenses related to state registration of the rights arising from this Contract shall be carried out by the Beneficiary and the Seller in the amount, term and procedure defined by the mutual agreement.
4. Transfer of the ownership right
The Beneficiary's ownership right over the Apartment shall arise from the moment of registration of that right in the authorized state body.
5. Liabilities of the Parties
5.1. The Parties shall beаr property accountability for non-performance or improper performance of their obligations under the Contract in accordance with the procedure established by the legislation of the Republic of Armenia.
5.2. In case of delay of payments specified in Clause 3.1.1. of this Contract the Payer shall pay the Seller penalty in the amount of 0,1 per cent of the total amount due per day for the first five calendar days of delay, and 0,1 per cent of the total amount due for every consequent day of delay, until factual payment of the amount or termination of this Contract.
5.3. In case of failure by the Beneficiary to perform state registration of the ownership right within specified terms as a result of the Seller’s inaction or improper activities, the Seller shall be obliged to refund the amounts paid under the Clause 3.1.1. as well as compensate for the losses caused to the Payer in accordance with the procedure established by the legislation of the RA.
5.4. In case of failure by the Beneficiary to perform state registration of the ownership right within specified terms as a result of his/her inaction or improper activities, the Beneficiary shall be obliged to compensate for the losses caused to the Payer in accordance with the procedure established by the legislation of the RA.
5.5. In case of failure by the Beneficiary to perform state registration of the ownership right within specified terms as a result of his/her inaction or improper activities, the Seller shall be obliged to refund the amounts paid under the Clause 3.1.1. without compensation for the losses caused to the Payer in accordance with the procedure established by the legislation of the RA.
5.6. In cases specified in the Clause 2.2.6 of this Contract the Seller shall be obliged to refund the amounts paid under the Clause 3.1.1. as well as compensate for the losses caused to the Payer in accordance with the procedure established by the legislation of the RA.
5.7. Any dispute arising from this Contract shall be settled by the agreement of the Parties. In case of disagreement the disputes shall be settled by the court.
5.8. In cases not envisaged by this Contract the Parties shall held liable in accordance with the procedure established by the legislation of the RA for non-performance of their obligations.
6. Validity of the Contract
6.1. This Contract shall enter into force from the moment of signing and shall remain in force until full performance of the Parties’ obligations under this Contract.
6.2. Relationships between the Parties shall terminate upon dully performance of the terms and accounts under this Contract.
6.3. The Payer may unilaterally terminate this Contract in cases specified by the Seller and/or the Beneficiary under the Clauses 2.1.2., 2.2.5., 2.2.6., 2.3.1. and 2.3.2. of this Contract. In case of termination of the Contract on the basis herein-above, the Payer shall notify the Seller and/or the Beneficiary 10 (ten) days prior to the day of termination of the Contract.
6.4. All the amendments and addendums to this Contract shall be made upon consent of the Parties by forming additional agreements.
7. Force-Majeure
Parties to this Contract shall be exempt from the liability for full or partial failure to perform their responsibilities hereunder, if such a failure is a result of a force-majeure event, which occurred after signing of this Contract and the Parties could not predict or prevent it. Such events include earthquake, flood, war, rebellion, military action, political disorder, strikes, cease of operation of communication means, normative-acts of state bodies and so forth which make impossible performance by the Parties of their obligations. If the effect of the force-majeure event persists for over 3 (three) months, either Party shall have the right to terminate this Contract, with a prior notification to the other Party.
8. Final Provisions
8.1. This Contract is made in Armenian, in 5 (five) equally valid copies.
9. Requisites and Signatures of the Parties
Armenian to English: THE LAW OF THE REPUBLIC OF ARMENIA On making amendments to the RA Law “On Protection of Economic Competition” General field: Law/Patents Detailed field: Law (general)
Source text - Armenian вڲêî²ÜÆ Ð²Üð²äºîàôÂÚ²Ü úðºÜø
Translation - English THE LAW OF THE REPUBLIC OF ARMENIA
On making amendments to the RA Law “On Protection of Economic Competition”
Article 1. Clause 2 of Article 36 of the RA Law N HO-112 as of November 6, 2000 “On Protection of Economic Competition” to be read as follows:
“2. Entering into (establishing, participating in) an anticompetitive agreement shall lead to imposition of a fine upon the economic entity participating in the anticompetitive agreement at the rate of 2% proceeds received from sale of products on the product market being the subject of anticompetitive agreement during the year preceding the entry into (establishment, participation in) the agreement, but not exceeding three hundred million AMD. In case the conducted activity lasted less than 12 months during the previous year, the infringements stipulated in this part shall lead to imposition of a fine at the rate of 2% of proceeds, however not exceeding three hundred million AMD, received from sale of products on the product market being the subject of the anti-competitive agreement for the period of the activity conducted prior to the entry into (establishment, participation in) that agreement but not exceeding 12 months’ period.
Article 2. This law shall enter into force from the tenth day following the day of its official promulgation.
English to Armenian: POWER OF ATTORNEY General field: Other Detailed field: Law (general)
Source text - English This Power of Attorney is made in Schaan, Liechtenstein and effective as of [DATE],
_______________ (the "Company"), a company duly established and acting under the laws of Liechtenstein, represented by _________, the sole Director of the Company, acting in accordance with the Charter, with its head office located at ____________, hereby authorizes Mr ____________ (the "Attorney"), a national of the Republic of Armenia (passport details:___________) to act for and on behalf of the Company representing the Company’s rights and interests before any third persons (including any state, municipal, public and private agencies and institutions, individuals) with regard to the following premises
(a) the premises locates at ___________, Yerevan, Armenia, with total floor space of _________ (_________) sq. m. owned by the Company in accordance with the Real Property Ownership Certificate No. _______ (hereinafter referred to as the “Premises 1”),
(b) the premises locates at ____________, Yerevan, Armenia, with total floor space of 197.8 (one hundred ninety seven point eight) sq. m. leased by the Company in accordance with the Real Property Lease Certificate No. _________ (hereinafter referred to as the “Premises 2”), (hereinafter together referred to as “the Premises”), including, but not limited to the following:
1. To represent the Company at the Municipality of Yerevan for the purpose(s) of obtaining of defined address(es) for the Premises, as may be required, including, but not limited to submission of relevant application(s) along with other documents, paying applicable State duties and charges, and performance of other actions thereon required.
2. To execute and implement the agreements of (a) the lease of Premises 1, and (b) the sub-lease of Premises 2 (hereinafter these agreements together referred to as the “Agreements”).
3. To bargain and agree on the terms of the Agreements and sign the Agreements thereon, as well as change or terminate the Agreements upon his own discretion and pursuant to the terms and conditions thereon contained.
4. To represent the Company at the respective notary office(s) with respect to submission of the Agreement for notary verification pursuant to the requirements of the laws of Armenia, and receiving the verified copies of the Agreements.
5. To represent the Company at the respective office(s) State Committee of Real Property Cadastre adjunct to the Government of the Republic of Armenia (the “State Cadastre”) with respect to submission of the Agreements for state registration, and obtaining lease (and sub-lease) registration certificates, as well as to apply for and obtain unified statement from the State Cadastre.
6. To represent the Company in capacity of the Lessor in its relationship with the respective lessees, including, but not limited to provision, upon its discretion, of consents and authorization necessary for the fulfillment of the rights and responsibilities of the lessees under the Agreements, as well as carrying out other actions on behalf of the Company, as may be required from time to time after execution of the Agreements.
7. To ask, demand, sue for, recover, collect, and receive all sums of money, debts, dues, accounts, and demands of every type that are now or may later become due, owing, payable or belonging to Company with respect to the lease and/or sub-lease of the Premises under the Agreements, and take all lawful ways and means in Company’s name or otherwise for the recovery thereof.
8. To perform any other action required for due implementation of the aforementioned powers and authorities, including submitting, receiving and signing any documents on behalf of the Company.
This power of attorney shall inure upon execution and notary verification and survive any changes in title documents of the respective premises relating to State registration of the leases herein specified. All power and authority granted in this power of attorney will automatically terminate on [DATE] unless sooner revoked by me.
IN WITNESS WHEREOF, the Company has executed this Power of Attorney on the date first above written.
