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The Car Contract Agreement is a fundamental document used in Hong Kong for vehicle sales transactions between parties. It serves as a comprehensive record of the terms and conditions governing the sale of a motor vehicle, whether between private individuals, dealerships, or commercial entities. This agreement is essential for compliance with Hong Kong's Road Traffic Ordinance (Cap. 374) and related regulations, particularly regarding vehicle registration transfer requirements and mandatory insurance coverage. The document typically includes detailed vehicle specifications, warranty terms, payment conditions, and responsibilities of both parties. It's designed to protect both sellers and buyers by clearly documenting the transaction terms and ensuring all necessary legal requirements for vehicle ownership transfer in Hong Kong are met.

1. Parties: Identification and details of the seller and buyer, including full legal names, identification numbers, and addresses

2. Background: Context of the transaction, brief description of the intention to sell/purchase the vehicle

3. Definitions: Key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Completion Date', etc.

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN, registration number, and mileage

5. Purchase Price and Payment: Details of the purchase price, payment method, and payment schedule if applicable

6. Transfer of Ownership: Terms regarding the transfer of vehicle title and registration

7. Seller's Representations and Warranties: Warranties about vehicle condition, ownership, absence of encumbrances, etc.

8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition

9. Completion: Details of when and where the transfer will take place

10. Insurance and Risk: Provisions regarding insurance requirements and transfer of risk

11. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction

12. Execution: Signature blocks and execution details