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As Is Bill Of Sale for Philippines

As Is Bill Of Sale Template for Philippines

A legally binding document governed by Philippine law that facilitates the transfer of property ownership from seller to buyer in an 'as is' condition, explicitly disclaiming any warranties or guarantees about the property's condition or fitness for use. This document, which must comply with the Civil Code of the Philippines and relevant consumer protection laws, provides clear documentation of the sale terms, property description, and both parties' acknowledgment that the property is being sold in its current condition. It serves as proof of transfer and helps protect the seller from future claims related to the property's condition while ensuring the buyer understands they are accepting the property with all existing faults or defects.

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What is a As Is Bill Of Sale?

The As Is Bill of Sale is a crucial document in Philippine commercial practice, particularly used when selling property without warranties or guarantees. It's commonly employed in situations where the seller wishes to transfer ownership of property in its current condition, whether new or used, while protecting themselves from future claims regarding the property's condition or functionality. This document, governed by Philippine law including the Civil Code and Consumer Act, must include specific elements such as clear identification of parties, detailed property description, explicit 'as is' disclaimers, and proper execution requirements including notarization when required by law. The As Is Bill of Sale is particularly valuable in second-hand sales, asset disposals, and situations where the buyer has had the opportunity to inspect the property and accepts it in its current state.

What sections should be included in a As Is Bill Of Sale?

1. Parties: Identification of the Seller and Buyer with complete names, addresses, and tax identification numbers

2. Background: Brief context of the sale and statement that the Seller wishes to sell and Buyer wishes to purchase the Property

3. Definitions: Definition of key terms including 'Property', 'Purchase Price', and 'As Is Condition'

4. Property Description: Detailed description of the property being sold, including serial numbers, identifying marks, or other relevant characteristics

5. Purchase Price: Statement of the agreed purchase price and confirmation of payment

6. As Is Condition: Clear statement that the property is sold 'as is' with explicit disclaimer of warranties

7. Risk and Title: Statement of when risk and title pass to the Buyer

8. Seller's Declarations: Seller's declaration of ownership and right to sell the property

9. Buyer's Acknowledgments: Buyer's confirmation of accepting the property in its current condition and understanding of 'as is' terms

10. Execution: Signature block with space for witnesses and notarization as required by Philippine law

What sections are optional to include in a As Is Bill Of Sale?

1. Delivery Terms: Include when delivery arrangements need to be specified, particularly for larger items or delayed collection

2. Inspection Confirmation: Include when the Buyer has conducted a pre-purchase inspection to document their acceptance of the condition

3. Tax Provisions: Include when there are specific tax implications that need to be addressed

4. Governing Law: Include when there's a need to specify jurisdiction within the Philippines

5. Dispute Resolution: Include when parties wish to specify method of resolving potential disputes

6. Prior Encumbrances: Include when there's a need to disclose any existing liens or encumbrances

7. Known Defects: Include when there are specific known defects that should be disclosed despite the 'as is' nature of the sale

What schedules should be included in a As Is Bill Of Sale?

1. Schedule A - Property Details: Detailed inventory and description of the property, including photographs or technical specifications if applicable

2. Schedule B - Defects List: Optional schedule listing known defects or damage to the property

3. Schedule C - Delivery Details: Optional schedule specifying delivery or collection arrangements if not immediate

4. Schedule D - Evidence of Ownership: Copies of relevant ownership documents or prior purchase receipts

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

Ƶ

Document Type

Bill of Sale

Sector

Sales

Cost

Free to use
Relevant legal definitions






















Clauses




















Relevant Industries

Retail

Automotive

Manufacturing

Real Estate

Agriculture

Construction

Industrial Equipment

Consumer Goods

Technology

Maritime

Small Business

Used Goods Trading

Relevant Teams

Legal

Sales

Procurement

Asset Management

Compliance

Operations

Risk Management

Property Management

Contract Administration

Business Development

Relevant Roles

Legal Counsel

Sales Manager

Procurement Officer

Asset Manager

Business Owner

Property Manager

Compliance Officer

Contract Administrator

Risk Manager

Operations Manager

Fleet Manager

Inventory Manager

Real Estate Agent

Used Equipment Dealer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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