When it comes to selling a two-wheeler vehicle, it is essential to have a proper agreement in place to ensure a smooth and hassle-free transaction. A two-wheeler selling agreement is a legal contract that outlines the terms and conditions between the buyer and the seller.
Here are some key elements that should be included in a two-wheeler selling agreement:
1. Proper Identification: The agreement should start with the identification of both the buyer and the seller along with their addresses and contact numbers.
2. Description of Vehicle: A detailed description of the vehicle should be mentioned in the agreement, including its make, model, year of manufacture, engine number, chassis number, color, and registration number.
3. Sale Price and Payment Terms: The agreed sale price of the vehicle should be mentioned in the agreement along with the payment terms. It should be clear whether the payment will be made in cash or through a bank transfer, and the timeline within which the payment needs to be made.
4. Transfer of Registration: The agreement should clearly state who will bear the cost of transferring the registration of the vehicle to the buyer`s name. Typically, this cost is borne by the buyer.
5. Warranty and Condition of the Vehicle: If any warranty is being provided by the seller, it should be mentioned in the agreement. Additionally, the condition of the vehicle should be described in detail to avoid any disputes later.
6. Delivery of the Vehicle: The agreement should mention the date and time for handing over the vehicle to the buyer, along with the location for the delivery.
7. Indemnity: The seller should be indemnified against any liability that may arise after the sale of the vehicle.
It is important to note that a two-wheeler selling agreement is a legally binding document. Therefore, it is advisable to get it vetted by a lawyer to ensure that all the terms and conditions are in compliance with the legal requirements.
In conclusion, a two-wheeler selling agreement is a crucial document that protects both the buyer and the seller from any future disputes. It is recommended to have a written agreement in place before finalizing the sale of any vehicle to ensure a smooth transaction.
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