VEHICLE SALE AGREEMENT
This Vehicle Sale Agreement is entered into on ________ at Andaman and Nicobar Islands
BY AND BETWEEN
________, PAN No.: ________, Parent: ________, Correspondence Address: ________, ________, Andaman and Nicobar Islands - ________, IN (hereinafter referred to as ("Seller") which expression shall unless repugnant to the meaning or context thereof also mean and include his/ her successors and permitted assigns)
AND
________, PAN No.: ________, Parent: ________, Correspondence Address: ________, ________, Andaman and Nicobar Islands - ________, IN (hereinafter referred to as ("Buyer") which expression shall unless repugnant to the meaning or context thereof also mean and include his/ her successors and permitted assigns).
WHEREAS the Seller desires to sell the Vehicle described below, known herein as the "Vehicle" under the terms and conditions set forth below;
AND WHEREAS Buyer desires to purchase the Vehicle offered for sale by the Seller under the terms and conditions set forth below.
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by the parties as set forth herein, the parties, intending to be legally bound, hereby agree as follows:
1. VEHICLE INFORMATION
I. Vehicle Type: Car
II. Company: ________
III. Model: ________
IV. Colour: ________
V. Odometer Reading: ________ (________) Kilometers
VI. Fuel: Petrol
VII. Year of Manufacture: ________
VIII. Registration Number: ________
IX. Registration Date (Month & Year): ________
X. Engine Number: ________
XI. Chassis Number: ________
XII. Total Number of Owners: ________ (________)
XIII. Tax Validity: ________
XIV. Registration Validity: ________
2. CONSIDERATION
The total purchase price to be paid by the Buyer to the Seller for the Vehicle including taxes and other costs is Rs ________/- (________) ("Purchase Price") which will be paid as follows:
a. Down Payment: Rs. ________/- (________) (Due to the Seller on or before execution of this Agreement). The Down Payment will be made through the following method: Cash.
b. Payment due at the Delivery of the Vehicle to the Buyer: Rs ________/- (________). The Payment at the time of delivery of the Vehicle will be made through the following method: Cash.
c. Apart from the aforementioned price, the Buyer shall pay the following commission amount to the Seller: Rs ________/- (________) at the time of delivery of the Vehicle. The commission will be paid through the following method: Cash.
3. STAMP DUTY
a. Unless otherwise agreed in writing. The Buyer is responsible for any stamp duty in relation to sale and purchase of the Vehicle under this Agreement.
4. DELIVERY
a. The seller shall deliver the Vehicle to the Buyer on or before ________ ("Delivery Date").
b. The Vehicle will be delivered at the aforementioned Seller's address.
The Seller will be liable to pay the following penalty for any delay in the delivery of the Vehicle: ________
c. It is Seller's duty to ensure that the Vehicle is delivered in the same condition as last inspected by the Buyer (or, if the inspection is not conducted, the date of execution of this Agreement).
d. It is the duty of the Buyer to take possession of the Vehicle at the aforementioned Seller's address on the aforementioned date. If the Buyer fails to take possession, then the risk of loss passes to the Buyer from the Delivery Date.
5. REPRESENTATIONS AND WARRANTIES BY THE SELLER
a. The Seller warrants that all details provided are accurate.
b. Seller hereby states that the Seller is the legal and beneficial owner of the Vehicle and there are no legal restrictions to sell the Vehicle.
c. Seller is duly authorized to enter and execute this Agreement.
d. Seller hereby states that the odometer in the Vehicle now reads ________ (________) Kilometers and to the best of the seller's knowledge, it reflects the actual mileage of the Vehicle and has not been altered, disconnected, set back or reset or otherwise tampered with, whether by the Seller or any other party
e. The Seller warrants that the Vehicle has complete service history from the authorized service centre of the Vehicle company and any/all accidents have been made fully known to the Buyer.
f. That the Vehicle is free from any encumbrances and at the time of delivery the Seller will be provided all the required documents for the legitimate transfer of the Vehicle along with the aforementioned vehicle documents of the Vehicle.
g. The Seller warrants that there is no pending challans, court cases, taxes, against the Vehicle and if any, will be borne by the Seller till the date of delivery of this Vehicle.
h. The Vehicle is financed with the ________ and the balance amount of Rs ________/- (________) is still pending against the Vehicle.
i. The Seller has made the Buyer fully aware of any current faults of the which the Seller is reasonably aware with the Vehicle and that there are no deliberately hidden faults on the Vehicle.
j. The Seller will provide the Buyer with all spare/duplicate keys of the Vehicle at the time of delivery.
k. The Seller will provide the Buyer with all documentation relating to the ownership and transfer of the Vehicle upon the payment of consideration as mentioned above.
l. The Seller will extend all support to transfer the Vehicle to the name of the Buyer.
m. The Seller will not be liable for any subsequent faults, normal wear and tear, or defects unless such defects were deliberately hidden or if a guarantee is offered by the Buyer to the Seller.
n. The Seller provides no guarantee to the Vehicle except as set out in this Agreement.
6. OBLIGATIONS OF THE BUYER
a. The Buyer agrees to pay the agreed price to the Seller as mentioned under the clause 'Consideration'.
b. The Buyer warrants that all the details provided are accurate.
c. The Buyer warrants that he/she is fully aware of the Vehicle history and any current faults of the Vehicle.
d. The Buyer has inspected the Vehicle and accepts the Vehicle in its current state as seen.
7. HEADINGS
The headings in this Agreement are included for the convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect.
8. INTERPRETATION
The parties acknowledge and agree that each party has reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that ambiguities are resolved against the drafting party shall not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed fairly as to both parties and not in favour or against either party.
9. 88 285558
552 2588552 22 522 25522 525222 22 2222582 522 252888822 22 2588 825222222 85588 82 22 852 82 822825525 22 82 5 858825 22 8585 2528888228 25 22 522282 252 85885822 22 2588 825222222 25 522 2552 2525222 25 252 58252 22 282525 25522 22 2222582 2585 525 28252 252888822 82 5882555282 8825 828 22528.
10. 288525885588 82 828552585
52 252 28222 522 252888822 22 2588 825222222 88 5222528225 22 82 8285885 82 522 82552 25 22525 222822 22 822222222 255885882822, 252 252888822 22 2588 825222222 85588 82 522225 22 5582 8222 5222525 525 252 2552828 525222 52522 22 2528522 588 528522228 228288552 22 28852282 8585 522252222 82 58 22 288282522 25 225822 522 8585 8285885 252888822 82 58 22 85552 252 252 822222 22 2588 825222222 58 255 58 22888882 525 22 522525 2588 825222222 22225825882 82 588 52822828 58 82 22582825.
11. 8855855
888 252 2228828, 52852828, 5225258 525 22525 82225288528228 52525 2588 825222222 85588 82 82 8582822 525 85588 82 522225 22 5582 8222 5582 28822 82 (5) 528882525 82 5525 525 528282225 225 82 252 25522 22 8522 8585 222882 25 22525 8222528852822 85588 5582 8222 58528225, (8) 258825 82 825282825 25 5228822525 2588 8825 2282522 2522585, 2282 582228825225 82 252 528828222, (8) 8222 82 22588 82, 25288525 52525 2588 825222222.
12. FORCE MAJEURE
Neither party shall be liable to the other for any delay or non-performance of its obligations hereunder in the event and to the extent that such delay or non-performance is due to an event of Force Majeure.
"Force Majeure" shall mean events beyond the control of the party which occur after the date of signing of this Agreement and which were not foreseeable at the time of signing of this Agreement and whose effects are not capable of being overcome without the unreasonable expense and/or loss of time to the party concerned. Events of Force Majeure shall include, but not limited to, war, natural disasters, and any other such comparable events not directly or indirectly caused by the affected party.
In the event that the delay or non-performance of either party hereto continues for a period of one month due to reasons of events of Force Majeure, then either party shall have the right to terminate this Agreement with immediate effect.
13. DISPUTE RESOLUTION
Both the parties do hereby agree that any dispute arising out of or in relation to this agreement shall be settled in accordance with the provisions of the Arbitration and Conciliation Act, 1996 and/ or any statutory modification or re-enactment thereof for the time being in force. The parties shall mutually appoint the single Arbitrator. Each party shall pay their own costs and fees of the arbitration and the cost of the arbitrator shall be borne equally. The seat or place of the arbitration shall be as follows: Andaman and Nicobar Islands.
This agreement shall be governed in accordance with the laws of India and the courts of Andaman and Nicobar Islands will have exclusive jurisdiction.
14. LEGAL FEE AND COSTS
In the event of any legal action by the Buyer or Seller to enforce any one or more provisions of this Agreement, whether at law or in equity, the prevailing party shall be entitled to receive from the other party all enforcement costs including, without limitation, reasonable legal fees and costs whether incurred before, during and after the trial or other litigation including appeal.
15. SURVIVAL OF OBLIGATION
Notwithstanding any other provisions of this Agreement, at termination, expiration or completion of this Agreement, any provisions of this Agreement which would by their nature be expected to survive termination, expiration or completion shall remain in provisions which are explicitly stated to survive termination, expiration or completion shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination, expiration or completion.
16. COUNTERPARTS
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument.
17. ENTIRE AGREEMENT
Both the parties represent and agree that they have read this Agreement, understand its terms and the fact that it releases all claims each might have entered into this Agreement without duress or coercion from any source. This Agreement supersedes all other Agreements entered into between the parties.
IN WITNESS WHEREOF, the parties hereto have executed this agreement on ________.
________ ("Seller")
Date: _________________________________
______________________________________
Signature
________ ("Buyer")
Date: _________________________________
______________________________________
Signature
WITNESS-1
Name: _____________________________
Address: ___________________________
___________________________________
___________________________________
Signature
WITNESS-2
Name: _____________________________
Address: ___________________________
___________________________________
___________________________________
Signature
VEHICLE SALE AGREEMENT
This Vehicle Sale Agreement is entered into on ________ at Andaman and Nicobar Islands
BY AND BETWEEN
________, PAN No.: ________, Parent: ________, Correspondence Address: ________, ________, Andaman and Nicobar Islands - ________, IN (hereinafter referred to as ("Seller") which expression shall unless repugnant to the meaning or context thereof also mean and include his/ her successors and permitted assigns)
AND
________, PAN No.: ________, Parent: ________, Correspondence Address: ________, ________, Andaman and Nicobar Islands - ________, IN (hereinafter referred to as ("Buyer") which expression shall unless repugnant to the meaning or context thereof also mean and include his/ her successors and permitted assigns).
WHEREAS the Seller desires to sell the Vehicle described below, known herein as the "Vehicle" under the terms and conditions set forth below;
AND WHEREAS Buyer desires to purchase the Vehicle offered for sale by the Seller under the terms and conditions set forth below.
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by the parties as set forth herein, the parties, intending to be legally bound, hereby agree as follows:
1. VEHICLE INFORMATION
I. Vehicle Type: Car
II. Company: ________
III. Model: ________
IV. Colour: ________
V. Odometer Reading: ________ (________) Kilometers
VI. Fuel: Petrol
VII. Year of Manufacture: ________
VIII. Registration Number: ________
IX. Registration Date (Month & Year): ________
X. Engine Number: ________
XI. Chassis Number: ________
XII. Total Number of Owners: ________ (________)
XIII. Tax Validity: ________
XIV. Registration Validity: ________
2. CONSIDERATION
The total purchase price to be paid by the Buyer to the Seller for the Vehicle including taxes and other costs is Rs ________/- (________) ("Purchase Price") which will be paid as follows:
a. Down Payment: Rs. ________/- (________) (Due to the Seller on or before execution of this Agreement). The Down Payment will be made through the following method: Cash.
b. Payment due at the Delivery of the Vehicle to the Buyer: Rs ________/- (________). The Payment at the time of delivery of the Vehicle will be made through the following method: Cash.
c. Apart from the aforementioned price, the Buyer shall pay the following commission amount to the Seller: Rs ________/- (________) at the time of delivery of the Vehicle. The commission will be paid through the following method: Cash.
3. STAMP DUTY
a. Unless otherwise agreed in writing. The Buyer is responsible for any stamp duty in relation to sale and purchase of the Vehicle under this Agreement.
4. DELIVERY
a. The seller shall deliver the Vehicle to the Buyer on or before ________ ("Delivery Date").
b. The Vehicle will be delivered at the aforementioned Seller's address.
The Seller will be liable to pay the following penalty for any delay in the delivery of the Vehicle: ________
c. It is Seller's duty to ensure that the Vehicle is delivered in the same condition as last inspected by the Buyer (or, if the inspection is not conducted, the date of execution of this Agreement).
d. It is the duty of the Buyer to take possession of the Vehicle at the aforementioned Seller's address on the aforementioned date. If the Buyer fails to take possession, then the risk of loss passes to the Buyer from the Delivery Date.
5. REPRESENTATIONS AND WARRANTIES BY THE SELLER
a. The Seller warrants that all details provided are accurate.
b. Seller hereby states that the Seller is the legal and beneficial owner of the Vehicle and there are no legal restrictions to sell the Vehicle.
c. Seller is duly authorized to enter and execute this Agreement.
d. Seller hereby states that the odometer in the Vehicle now reads ________ (________) Kilometers and to the best of the seller's knowledge, it reflects the actual mileage of the Vehicle and has not been altered, disconnected, set back or reset or otherwise tampered with, whether by the Seller or any other party
e. The Seller warrants that the Vehicle has complete service history from the authorized service centre of the Vehicle company and any/all accidents have been made fully known to the Buyer.
f. That the Vehicle is free from any encumbrances and at the time of delivery the Seller will be provided all the required documents for the legitimate transfer of the Vehicle along with the aforementioned vehicle documents of the Vehicle.
g. The Seller warrants that there is no pending challans, court cases, taxes, against the Vehicle and if any, will be borne by the Seller till the date of delivery of this Vehicle.
h. The Vehicle is financed with the ________ and the balance amount of Rs ________/- (________) is still pending against the Vehicle.
i. The Seller has made the Buyer fully aware of any current faults of the which the Seller is reasonably aware with the Vehicle and that there are no deliberately hidden faults on the Vehicle.
j. The Seller will provide the Buyer with all spare/duplicate keys of the Vehicle at the time of delivery.
k. The Seller will provide the Buyer with all documentation relating to the ownership and transfer of the Vehicle upon the payment of consideration as mentioned above.
l. The Seller will extend all support to transfer the Vehicle to the name of the Buyer.
m. The Seller will not be liable for any subsequent faults, normal wear and tear, or defects unless such defects were deliberately hidden or if a guarantee is offered by the Buyer to the Seller.
n. The Seller provides no guarantee to the Vehicle except as set out in this Agreement.
6. OBLIGATIONS OF THE BUYER
a. The Buyer agrees to pay the agreed price to the Seller as mentioned under the clause 'Consideration'.
b. The Buyer warrants that all the details provided are accurate.
c. The Buyer warrants that he/she is fully aware of the Vehicle history and any current faults of the Vehicle.
d. The Buyer has inspected the Vehicle and accepts the Vehicle in its current state as seen.
7. HEADINGS
The headings in this Agreement are included for the convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect.
8. INTERPRETATION
The parties acknowledge and agree that each party has reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that ambiguities are resolved against the drafting party shall not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed fairly as to both parties and not in favour or against either party.
9. 88 285558
552 2588552 22 522 25522 525222 22 2222582 522 252888822 22 2588 825222222 85588 82 22 852 82 822825525 22 82 5 858825 22 8585 2528888228 25 22 522282 252 85885822 22 2588 825222222 25 522 2552 2525222 25 252 58252 22 282525 25522 22 2222582 2585 525 28252 252888822 82 5882555282 8825 828 22528.
10. 288525885588 82 828552585
52 252 28222 522 252888822 22 2588 825222222 88 5222528225 22 82 8285885 82 522 82552 25 22525 222822 22 822222222 255885882822, 252 252888822 22 2588 825222222 85588 82 522225 22 5582 8222 5222525 525 252 2552828 525222 52522 22 2528522 588 528522228 228288552 22 28852282 8585 522252222 82 58 22 288282522 25 225822 522 8585 8285885 252888822 82 58 22 85552 252 252 822222 22 2588 825222222 58 255 58 22888882 525 22 522525 2588 825222222 22225825882 82 588 52822828 58 82 22582825.
11. 8855855
888 252 2228828, 52852828, 5225258 525 22525 82225288528228 52525 2588 825222222 85588 82 82 8582822 525 85588 82 522225 22 5582 8222 5582 28822 82 (5) 528882525 82 5525 525 528282225 225 82 252 25522 22 8522 8585 222882 25 22525 8222528852822 85588 5582 8222 58528225, (8) 258825 82 825282825 25 5228822525 2588 8825 2282522 2522585, 2282 582228825225 82 252 528828222, (8) 8222 82 22588 82, 25288525 52525 2588 825222222.
12. FORCE MAJEURE
Neither party shall be liable to the other for any delay or non-performance of its obligations hereunder in the event and to the extent that such delay or non-performance is due to an event of Force Majeure.
"Force Majeure" shall mean events beyond the control of the party which occur after the date of signing of this Agreement and which were not foreseeable at the time of signing of this Agreement and whose effects are not capable of being overcome without the unreasonable expense and/or loss of time to the party concerned. Events of Force Majeure shall include, but not limited to, war, natural disasters, and any other such comparable events not directly or indirectly caused by the affected party.
In the event that the delay or non-performance of either party hereto continues for a period of one month due to reasons of events of Force Majeure, then either party shall have the right to terminate this Agreement with immediate effect.
13. DISPUTE RESOLUTION
Both the parties do hereby agree that any dispute arising out of or in relation to this agreement shall be settled in accordance with the provisions of the Arbitration and Conciliation Act, 1996 and/ or any statutory modification or re-enactment thereof for the time being in force. The parties shall mutually appoint the single Arbitrator. Each party shall pay their own costs and fees of the arbitration and the cost of the arbitrator shall be borne equally. The seat or place of the arbitration shall be as follows: Andaman and Nicobar Islands.
This agreement shall be governed in accordance with the laws of India and the courts of Andaman and Nicobar Islands will have exclusive jurisdiction.
14. LEGAL FEE AND COSTS
In the event of any legal action by the Buyer or Seller to enforce any one or more provisions of this Agreement, whether at law or in equity, the prevailing party shall be entitled to receive from the other party all enforcement costs including, without limitation, reasonable legal fees and costs whether incurred before, during and after the trial or other litigation including appeal.
15. SURVIVAL OF OBLIGATION
Notwithstanding any other provisions of this Agreement, at termination, expiration or completion of this Agreement, any provisions of this Agreement which would by their nature be expected to survive termination, expiration or completion shall remain in provisions which are explicitly stated to survive termination, expiration or completion shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination, expiration or completion.
16. COUNTERPARTS
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument.
17. ENTIRE AGREEMENT
Both the parties represent and agree that they have read this Agreement, understand its terms and the fact that it releases all claims each might have entered into this Agreement without duress or coercion from any source. This Agreement supersedes all other Agreements entered into between the parties.
IN WITNESS WHEREOF, the parties hereto have executed this agreement on ________.
________ ("Seller")
Date: _________________________________
______________________________________
Signature
________ ("Buyer")
Date: _________________________________
______________________________________
Signature
WITNESS-1
Name: _____________________________
Address: ___________________________
___________________________________
___________________________________
Signature
WITNESS-2
Name: _____________________________
Address: ___________________________
___________________________________
___________________________________
Signature
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