The Car Deposit Form is a crucial document in Singapore's vehicle sales process, used when a potential buyer wishes to secure a vehicle with a monetary deposit. This document serves multiple purposes: it confirms the buyer's serious intention to purchase, reserves the vehicle for the buyer, and protects both parties' interests during the transaction period. The form typically includes vehicle specifications, deposit amount, purchase price, conditions for deposit refund or forfeiture, and timeline for completing the purchase. It must comply with Singapore's Consumer Protection (Fair Trading) Act, Road Traffic Act, and relevant automotive regulations. The Car Deposit Form is particularly important in Singapore's context given the significant investment involved in vehicle purchases and the regulated nature of the automotive market.
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1. Parties: Details of buyer and seller including full names, NRIC/FIN, contact information
2. Vehicle Details: Complete vehicle specifications including make, model, registration number, chassis number
3. Deposit Amount: Specified deposit amount, payment method, and date of payment
4. Purchase Price: Total agreed purchase price and payment schedule
5. Terms and Conditions: Basic conditions of the deposit and subsequent purchase
1. Vehicle Condition Declaration: Detailed description of vehicle condition, used when selling used vehicles
2. Trade-in Details: Information about trade-in vehicle if applicable
3. Financing Terms: Include when purchase involves bank financing or hire purchase
4. Special Conditions: Any special arrangements or conditions agreed between parties
1. Vehicle Inspection Report: Recent inspection report if available
2. Vehicle Registration Card: Copy of current vehicle registration
3. Payment Schedule: Detailed breakdown of payment timeline if installment payment agreed
4. Vehicle Photographs: Photos documenting current condition of vehicle
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