The Bill of Sale Receipt For Car is a crucial document in Philippine vehicle transactions, required by the Land Transportation Office (LTO) for official transfer of vehicle ownership. It serves as both a receipt and a legal instrument that protects the rights of both buyer and seller. This document is essential when transferring ownership of any motor vehicle in the Philippines, whether between private individuals or commercial entities. It must include specific details mandated by Philippine law, such as vehicle identification numbers, purchase price, odometer reading, and both parties' information. The document is particularly important for vehicle registration purposes and may be required by insurance companies, financial institutions, and government agencies. It should comply with Republic Act No. 4136 (Land Transportation and Traffic Code) and other relevant Philippine regulations regarding vehicle transfers.
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1. Parties: Identifies the seller and buyer with complete legal names, addresses, and valid government ID numbers
2. Background: Brief context of the sale transaction
3. Definitions: Defines key terms used in the document
4. Vehicle Description: Detailed description of the vehicle including make, model, year, color, engine number, chassis number, plate number, and current registration details
5. Purchase Price: States the total amount paid and payment method, including any deposits or installments if applicable
6. Seller's Representations: Declarations regarding vehicle ownership, liens, encumbrances, and condition
7. Transfer of Ownership: Clear statement of transfer of title and ownership from seller to buyer
8. Odometer Disclosure: Current mileage reading and certification of its accuracy
9. Acknowledgment: Formal acknowledgment of the sale and receipt of payment
10. Execution: Date and signature section for both parties
1. Payment Terms: Include when payment is not made in full at time of sale
2. Warranty Provisions: Include when specific warranties are being provided beyond statutory requirements
3. As-Is Condition: Include when vehicle is sold without warranties
4. Third-Party Authorization: Include when either party is represented by an authorized representative
5. Notarial Section: Include when parties choose to have the document notarized for additional legal protection
1. Vehicle Inspection Report: Detailed report of vehicle condition, including photos and noted defects
2. Maintenance Records: History of vehicle maintenance and repairs
3. Original Registration Documents: Copies of current registration papers and history
4. Tax Clearance Certificates: Proof that all required taxes have been paid
5. Insurance Documents: Details of existing insurance and transfer requirements
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Insurance
Financial Services
Legal Services
Transportation
Real Estate
Fleet Management
Vehicle Leasing
Auto Dealerships
Public Transportation
Relevant Teams
Legal
Compliance
Fleet Operations
Administration
Sales
Procurement
Risk Management
Documentation
Asset Management
Transportation Operations
Relevant Roles
Legal Counsel
Compliance Officer
Fleet Manager
Administrative Officer
Sales Manager
Car Dealer
Insurance Agent
Vehicle Registration Officer
Documentation Specialist
Procurement Manager
Asset Manager
Corporate Secretary
Risk Manager
Transportation Manager
Legal Assistant
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