The Buy Sell Car Agreement Form is a crucial legal document used in the Philippines for facilitating the transfer of ownership of motor vehicles. This document is essential for both private and commercial vehicle sales transactions, ensuring compliance with Philippine laws including the Civil Code, Land Transportation and Traffic Code, and relevant LTO regulations. The agreement protects both parties by clearly documenting the vehicle's details, sale conditions, warranties, and transfer requirements. It's particularly important as it serves as a legal record of the transaction and helps prevent future disputes regarding vehicle ownership, condition, or payment terms. The document must be properly executed to facilitate registration with the LTO and satisfy local tax requirements.
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1. Parties: Identifies and provides complete details of the seller and buyer, including full legal names, addresses, and government-issued ID numbers
2. Background: Brief context of the transaction and confirmation that the seller is the legal owner of the vehicle
3. Definitions: Defines key terms used throughout the agreement
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, plate number, and mileage
5. Purchase Price and Payment Terms: States the agreed purchase price and detailed payment arrangements
6. Warranties and Representations: Seller's warranties regarding vehicle ownership, condition, and absence of liens or encumbrances
7. Transfer of Ownership: Process and requirements for transferring vehicle ownership, including LTO registration
8. Delivery and Acceptance: Terms for vehicle handover and buyer's acceptance conditions
9. Taxes and Registration Fees: Allocation of responsibility for transfer taxes and registration fees
10. Governing Law: Specifies that Philippine law governs the agreement
11. Signing and Execution: Signature blocks and execution requirements
1. Financing Terms: Include when purchase involves bank financing or installment payments
2. Insurance: Include when transfer of insurance or requirement for new insurance needs to be addressed
3. Inspection Period: Include when buyer requires a testing or inspection period before final acceptance
4. Trade-In Terms: Include when transaction involves a trade-in vehicle
5. Third-Party Authorization: Include when either party is acting through an authorized representative
6. Dispute Resolution: Include when parties want to specify mediation or arbitration procedures
7. Post-Sale Maintenance: Include when seller agrees to provide specific maintenance services after sale
1. Vehicle Inspection Report: Detailed report of vehicle condition, including photographs and noted defects
2. Payment Schedule: If installment payments are involved, detailed breakdown of payment dates and amounts
3. Vehicle Documents: List of all documents being transferred with the vehicle (registration, insurance, maintenance records)
4. Deed of Sale: Standard LTO deed of sale form as required by Philippine regulations
5. Vehicle Accessories: Itemized list of accessories and tools included in the sale
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Transportation
Fleet Management
Car Dealership
Insurance
Banking and Finance
Legal Services
Corporate Services
Private Transportation
Public Transportation
Logistics
Relevant Teams
Legal
Compliance
Fleet Management
Sales
Administration
Procurement
Finance
Risk Management
Operations
Contract Administration
Relevant Roles
Legal Counsel
Compliance Officer
Fleet Manager
Car Sales Executive
Administrative Officer
Procurement Manager
Finance Manager
Legal Assistant
Corporate Secretary
Risk Manager
Operations Manager
Vehicle Acquisition Specialist
Contract Administrator
Business Owner
Dealership Manager
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