We conduct all transactions and contract awards for the College based on price and suitability, in accordance governing codes and regulations. An asset purchase agreement (or APA) is a binding document between a buyer and seller for the purchase and sale of a company's assets.An asset purchase agreement outlines important details such as: The structure of the deal; The price of the asset; Limitations of the purchase; Warranties. Used to request the transfer of asset to appropriate asset class in the University's financial accounting system. Filed with the Securities and Exchange Commission. An asset purchase agreement is the legal document that will govern the transfer of ownership of a business's assets from the seller to the buyer.