Vehicle Exchange Agreement Template for Philippines

1. Additional Payment Terms: Used when one party needs to pay additional money to equalize the exchange value

2. Condition Precedents: Include when specific conditions must be met before the exchange can proceed

3. Insurance Arrangements: Required when specific insurance transfer or coverage requirements need to be addressed

4. Outstanding Loans: Include when either vehicle has existing financing that needs to be addressed

5. Mechanical Inspection: Used when parties agree to conduct pre-exchange inspections

6. Third-Party Consents: Include when approvals from other parties (e.g., lenders) are needed

7. Dispute Resolution: Optional detailed procedures for handling disputes, including mediation provisions

1. Schedule A - First Vehicle Specifications: Detailed description of first vehicle including VIN, modifications, known issues

2. Schedule B - Second Vehicle Specifications: Detailed description of second vehicle including VIN, modifications, known issues

3. Schedule C - Vehicle Documents: List of all registration, insurance, and maintenance documents to be transferred

4. Schedule D - Vehicle Inspection Reports: Recent inspection reports or condition assessments for both vehicles

5. Schedule E - Transfer Documents: Templates or copies of required LTO transfer documents

6. Appendix 1 - Photographs: Recent photographs of both vehicles documenting their current condition

7. Appendix 2 - Maintenance Records: Service history and maintenance records for both vehicles