Document background
The Bill of Sale Finance Agreement is a crucial document used in Hong Kong for transactions involving asset-based financing where the seller requires funding to complete the sale. This document type is particularly relevant when businesses or individuals need to finance the purchase of significant assets while using those same assets as security. The agreement must comply with Hong Kong's Bills of Sale Ordinance (Cap. 20) and related financial regulations, including specific registration requirements at the Bills of Sale Registry. The document encompasses detailed provisions for asset description, financing terms, security arrangements, representations and warranties, and enforcement mechanisms. It is commonly used in various commercial contexts, from equipment financing to vehicle purchases, and must be properly stamped in accordance with Hong Kong's Stamp Duty Ordinance.
