SPAs also contain detailed information about the buyer and seller. The agreement records all deposits made prior to the negotiations and notes which parts of the agreement have already been completed. The agreement also specifies when the final sale will take place. In another example, an SPA is often required in a transaction where one company acquires another. Since the SPA determines the exact nature of what is being bought and sold, the agreement may allow a company to sell its tangible assets to a buyer without selling the naming rights associated with the business. A purchase contract (SPA) is a legally binding contract between two parties that initiates a transaction between a buyer and a seller. SPAs are generally used for real estate transactions, but can be found in all areas of activity. The agreement concludes the terms of the sale and is the result of negotiations between the buyer and the seller. .
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