The Seller Acknowledgement Form is a crucial document used in Malaysian commercial transactions to establish clear understanding and acceptance of terms between parties engaged in sale transactions. This document is typically employed when businesses need formal confirmation from sellers about their understanding of obligations, compliance requirements, and transaction terms. It serves as a risk management tool by documenting the seller's explicit acknowledgment of various aspects of the sale, including regulatory compliance, product specifications, delivery terms, and warranty obligations. The form is designed to align with Malaysian legislation, including the Contracts Act 1950, Sale of Goods Act 1957, and relevant consumer protection laws, making it an essential component in establishing clear commercial relationships and maintaining proper documentation for audit and compliance purposes.
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1. Seller Information: Complete details of the seller including full name, registration/ID number, address, and contact information
2. Transaction Reference: Details of the specific transaction or arrangement being acknowledged, including any relevant reference numbers or dates
3. Terms Acknowledgement: Clear statement acknowledging understanding and acceptance of the main terms and conditions of sale
4. Compliance Declaration: Seller's declaration of compliance with relevant laws and regulations, including anti-money laundering and data protection requirements
5. Representations and Warranties: Seller's confirmation of their authority to sell and warranties about the goods or services being sold
6. Payment Terms Confirmation: Acknowledgement of understood payment terms, methods, and timing
7. Signature Block: Space for seller's signature, date, and witness details if required
1. Electronic Transaction Consent: Additional section when the form is being executed electronically, acknowledging consent to electronic transactions and signatures
2. Tax Declarations: Special section for cases where specific tax declarations or confirmations are required
3. Intellectual Property Rights: Additional section when the sale involves intellectual property or licensed content
4. Regulatory Compliance: Specific section for regulated industries requiring additional compliance acknowledgments
5. Third-Party Rights: Section acknowledging any third-party rights or interests in the goods or services being sold
1. Schedule A - Product Details: Detailed list of products or services being sold, including specifications and quantities
2. Schedule B - Pricing Schedule: Breakdown of pricing, including any applicable taxes, fees, or charges
3. Schedule C - Delivery Terms: Specific delivery or performance requirements and timelines
4. Appendix 1 - Required Documents: List of supporting documents that must be provided by the seller
5. Appendix 2 - Compliance Checklist: Checklist of regulatory and compliance requirements applicable to the seller
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