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1. Parties: Identification of the seller and buyer with full legal names, addresses, and contact information
2. Background: Brief context of the transaction and purpose of the agreement
3. Definitions: Definition of key terms used throughout the agreement including 'Down Payment', 'Vehicle', 'Balance Payment', etc.
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, VIN, color, and current condition
5. Purchase Price and Payment Terms: Total purchase price, down payment amount, and terms of payment including due date
6. Down Payment Specifics: Details of the down payment including amount, method of payment, and deadline
7. Balance Payment Structure: Overview of how the remaining balance will be paid including installment amounts and due dates
8. Vehicle Delivery Terms: Conditions and timing for vehicle delivery after down payment
9. Title and Ownership: Terms regarding transfer of title and ownership rights
10. Representations and Warranties: Statements and guarantees from both parties regarding the vehicle and payment capacity
11. Default and Remedies: Consequences of default in payment and available remedies
12. Governing Law: Specification that Nigerian law governs the agreement
13. Execution: Signature blocks and execution requirements
1. Trade-In Details: Include when there is a trade-in vehicle as part of the transaction
2. Insurance Requirements: Include when specific insurance requirements are needed before vehicle delivery
3. Third-Party Financing: Include when a financial institution is involved in the transaction
4. Security Interest: Include when the seller maintains a security interest in the vehicle until full payment
5. Maintenance Requirements: Include when specific maintenance conditions are required during the payment period
6. Co-Signer Details: Include when a co-signer is required for the transaction
7. Early Payment Terms: Include when early payment options and any associated discounts are offered
1. Schedule A - Vehicle Specification: Detailed technical specifications, features, and current condition of the vehicle including photographs
2. Schedule B - Payment Schedule: Detailed breakdown of payment dates, amounts, and methods of payment
3. Schedule C - Vehicle Inspection Report: Independent inspection report detailing the condition of the vehicle
4. Schedule D - Vehicle Documents: List of all vehicle documents to be transferred including registration, insurance, and maintenance records
5. Appendix 1 - Required Insurance Coverage: Detailed requirements for vehicle insurance during the payment period
6. Appendix 2 - Transfer Documentation: Forms and documents required for vehicle ownership transfer under Nigerian law
Vehicle
Down Payment
Balance Payment
Business Day
Completion Date
Deposit
Delivery Date
Due Date
Effective Date
Force Majeure
Insurance Requirements
Installment Payments
Interest Rate
Late Payment
Lien
Material Adverse Change
Payment Schedule
Purchase Price
Registration Documents
Seller
Buyer
Security Interest
Term
Title Documents
Total Price
Transfer Documents
Vehicle Identification Number (VIN)
Vehicle Documents
Vehicle Condition Report
Warranties
Working Days
Vehicle Description
Title Transfer
Delivery
Warranties
Default
Termination
Force Majeure
Insurance
Registration
Representations
Security Interest
Remedies
Notice
Assignment
Entire Agreement
Severability
Governing Law
Dispute Resolution
Indemnification
Inspection Rights
Maintenance Requirements
Documentation
Amendments
Waiver
Counterparts
Further Assurance
Time of Essence
Automotive
Financial Services
Insurance
Retail
Transportation
Legal Services
Consumer Goods
Fleet Management
Legal
Sales
Finance
Compliance
Operations
Risk Management
Customer Service
Documentation
Business Development
Sales Manager
Finance Manager
Legal Counsel
Compliance Officer
Automotive Sales Representative
Fleet Manager
Contract Administrator
Business Development Manager
Credit Manager
Operations Manager
Risk Assessment Officer
Customer Service Manager
Documentation Specialist
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