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Standard features of a REIQ Business Sale Contract Details of the business being sold The Contract is commonly prepared by either the Vendor’s or the Purchaser’s solicitor and will require particulars of the transaction inserted in the Items Schedule.. Employee entitlements: wages, holiday pay and long service leave Usually, employment of all staff employed in the business will be terminated upon completion of the sale and the vendor is required to pay to each such employee, the respective amounts due to him or her as at the date of completion of sale in respect of wages, holiday pay and holiday loadings, sick leave, superannuation and long service leave, together with any other lawful entitlements..
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