Speed up the sale process - have the agreements in place early. Description of the business and your ownership of it.Is the Seller a resident of the Republic of South Africa for. Income Tax purposes? Use this professionally drawn business sale agreement template to create a sale and purchase contract quickly and inexpensively, without involving advisors. Create, commit to, and manage your agreements all in one platform with Docusign IAM. Electronically sign for free. A sale of business agreement is a legally binding contract that governs the transfer of ownership of a business from the seller to the buyer. Identify the parties involved in the transaction. 2.