If you agree to exchange cars with your original partner, it is advisable to put the conditions in writing. To avoid problems and misunderstandings, both parties must fill out, print, sign and send signed copies to this form (or similar). Use the following guidelines: 3.8 The purchaser guarantees that he buys a used vehicle “as we have seen” and that he assumes responsibility for the vehicle in the state in which it will be received at the signing of this agreement, except for any intentionally concealed error. 1.5 The title names of this Agreement are used only as a reference and are not part of the Agreement. After receiving the full payment, the seller agrees to transfer the buyer`s property to the next vehicle to the buyer: 1.1 “Vehicle” and “Auto” are both the vehicle that must be sold in accordance with point 9. 2.10 Once the buyer has purchased the vehicle and the payment is cancelled, the seller is required to release the vehicle in the buyer`s possession. 7.3 Both parties agree that in the event of a dispute, after the signing of the agreement before the International Chamber of Commerce, they will hold an arbitration procedure before an arbitrator, the judgment of which ultimately settles the dispute and is final. PandaTip: Remove arbitration if you don`t like it. PandaTip: This clause explains that, even if there is a written error in the agreement, the contract is binding on both parties if they actually incent the sale.
PandaTip: This clause assumes that the vehicle is sold by an individual (not by a garage, car dealership, etc.). The law varies from country to country and state to state, and in general, a higher level of liability is assigned to commercial sellers, so private sellers should specify that they are not acting as companies in this case. If the contract is used by a professional car dealership, they should remove this clause and re-list the following sections. PandaTip: It is not normal to include a warranty in a private sale, but if the seller wishes, you can change this clause if necessary. One suggestion might be: “The vehicle is sold with a guarantee of its ability to drive and continue to operate safely for a period of XXX months and any failures that occur during this period will be corrected at the seller`s expense, except for defects caused by the buyer.” 3.1 The buyer must pay the agreed price to the seller. I accept the payment of “ by the buyer for the purchase of the vehicle. 2.11 The seller is not responsible for subsequent fault, normal wear or defects, unless these defects have been deliberately concealed or if a guarantee is offered by the buyer to the Seller. 1.4 “Payment mode” refers to the method of payment agreed by both parties in accordance with Clause 4. WHEREAS: The seller is willing to sell the vehicle to the buyer on the terms stipulated in this agreement and the buyer is willing to purchase the vehicle from the Seller under these conditions. .
2.5 There are no financings, leftovers or outstanding debts allocated to the vehicle. (Make sure your insurance covers your trip to your destination) PandaTip: Both parties may wish to keep original signed copies of the agreement for future references. 2.7 The seller drew the buyer`s attention to the current defects of which he is sufficiently informed with the vehicle and that there are no deliberately hidden defects on the vehicle. PandaTip: You can insert a list of errors here if they are preferred, or you can introduce a clause stating that “these errors are more complete on the attached sheet” – add an additional page to the back of the contract with a list of agreed defects that must be signed by both parties.