The Bill of Sale Agreement For Car is a crucial legal document used in the Philippines when transferring ownership of a motor vehicle. This document serves as official evidence of the sale transaction and is required for vehicle registration transfer with the Land Transportation Office (LTO). It includes essential details such as the vehicle's specifications, sale price, and both parties' information, while ensuring compliance with Philippine laws including the Civil Code, Consumer Act, and relevant tax regulations. The agreement is necessary for both private sales and commercial transactions, protecting both buyer and seller by clearly documenting the terms of sale and the condition of the vehicle at the time of transfer.
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1. Parties: Identifies and provides complete details of the seller and buyer, including their full legal names, addresses, and contact information
2. Background: Brief context about the transaction and the purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Vehicle Description: Detailed description of the vehicle including make, model, year, color, VIN/chassis number, engine number, and plate number
5. Purchase Price: States the agreed purchase price and payment terms, including method of payment
6. Transfer of Ownership: Explicitly states the transfer of ownership from seller to buyer and the effective date
7. Seller's Representations: Seller's warranties regarding vehicle ownership, condition, and absence of liens or encumbrances
8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition
9. Documentation: Lists required documents for transfer and registration
10. Governing Law: Specifies that Philippine law governs the agreement
11. Execution: Signature blocks and execution requirements
1. Payment Terms: Used when payment is not made in full at signing, detailing installment schedule and conditions
2. Warranties: Additional warranties beyond basic representations, used for newer vehicles or dealer sales
3. Insurance: Include when transfer of insurance coverage needs to be addressed
4. Dispute Resolution: Detailed dispute resolution procedures, recommended for higher-value vehicles
5. Post-Sale Obligations: Used when there are specific requirements after the sale, such as registration transfer deadlines
6. Third-Party Rights: Include when there are existing liens or third-party interests to be addressed
1. Schedule A - Vehicle Condition Report: Detailed inspection report of the vehicle's condition at time of sale
2. Schedule B - Payment Details: Breakdown of payment terms and schedule if not paid in full
3. Schedule C - Vehicle Documents: List of all documents being transferred with the vehicle
4. Appendix 1 - Vehicle Registration Documents: Copies of current registration and other official documents
5. Appendix 2 - Vehicle History: Service history, previous ownership records, and maintenance records
6. Appendix 3 - Photographs: Documentary photographs of the vehicle at time of sale
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Transportation
Retail
Insurance
Financial Services
Legal Services
Vehicle Leasing
Fleet Management
Used Car Sales
Automotive Finance
Relevant Teams
Legal
Compliance
Sales
Administrative
Documentation
Finance
Operations
Procurement
Risk Management
Asset Management
Relevant Roles
Car Dealer
Fleet Manager
Legal Counsel
Compliance Officer
Sales Manager
Administrative Officer
Vehicle Registration Specialist
Documentation Specialist
Corporate Secretary
Finance Manager
Insurance Agent
Property Manager
Procurement Officer
Business Owner
Operations Manager
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