An asset purchase agreement is a legal document that outlines the terms and conditions of buying or selling assets in a business transaction. "Bidder" means a person who desires to make a proposal on procurement.(See "Qualified Bidder" and "Responsive Bidder"). 2. Asset purchase agreements are a useful way to: Carve out certain assets of a business without taking on liabilities or debt obligations. An expensed asset is an asset for which the entire cost is deducted from income in the year of purchase. A typical APA begins with an introductory paragraph that identifies the Buyer, the Seller, and any other parties to the agreement. Real Property Services directs and administers the real property function for Pima County departments and the Regional Flood Control District.