Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. "Escrow Agreement" means the Escrow Agreement to be entered into on the.This Asset Purchase Agreement template sets out the terms and conditions upon which Seller shall effect the sale of asset(s) to Buyer. An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition.