Agreement For Sale Of Motor Vehicle Template for Saudi Arabia

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Key Requirements PROMPT example:

Agreement For Sale Of Motor Vehicle

"I need an Agreement For Sale Of Motor Vehicle under Saudi law for the sale of a corporate fleet of 5 Toyota Camry vehicles to a logistics company, with payment to be made in three installments between January and March 2025, including comprehensive warranty terms for commercial use."

Document background
The Agreement For Sale Of Motor Vehicle is a crucial legal document used in Saudi Arabia to formalize and document the transfer of ownership of a motor vehicle from seller to buyer. This agreement is essential for both private and commercial vehicle sales, ensuring compliance with Saudi Traffic Law, commercial regulations, and Sharia principles. It protects both parties' interests by clearly stating the vehicle's specifications, condition, purchase price, and payment terms. The document is particularly important in Saudi Arabia where specific documentation requirements exist for vehicle registration transfer and where commercial transactions must adhere to both civil law and Sharia principles. It can be used for new vehicle sales from dealerships, used vehicle transfers between private parties, or corporate fleet transactions.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and official ID numbers as required by Saudi law

2. Background: Brief context of the sale transaction and confirmation that the seller is the legal owner of the vehicle

3. Definitions: Key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Completion Date', etc.

4. Sale and Purchase: Core terms of the transaction including the agreement to sell and purchase the vehicle

5. Purchase Price and Payment: Agreed price, payment method, and payment schedule in compliance with Sharia principles

6. Vehicle Details: Complete description of the vehicle including make, model, year, color, engine number, chassis number, and registration details

7. Seller's Representations and Warranties: Seller's guarantees regarding vehicle ownership, condition, and absence of encumbrances

8. Transfer of Ownership: Process and requirements for legal transfer of vehicle ownership in accordance with Saudi Traffic Law

9. Completion: Details of the completion process, including handover of vehicle and documentation

10. Governing Law and Jurisdiction: Specification that Saudi law governs the agreement and jurisdiction of Saudi courts

Optional Sections

1. Condition of Vehicle: Detailed description of vehicle condition and any known defects - used when selling used vehicles

2. Insurance: Requirements for insurance during the transfer period - relevant when there's a gap between payment and completion

3. Inspection Period: Terms for vehicle inspection and right to reject - important for remote purchases or dealer sales

4. Payment in Installments: Terms for installment payments - used when the purchase price is not paid as a single sum

5. Agent Authorization: Authorization details when either party is represented by an agent

6. VAT Provisions: Specific provisions regarding VAT - required for business sales or when VAT is applicable

7. Force Majeure: Provisions for unforeseen circumstances preventing completion - useful for delayed completions

Suggested Schedules

1. Schedule 1 - Vehicle Specification: Detailed technical specifications of the vehicle including all modifications and accessories

2. Schedule 2 - Vehicle Documentation: List of all vehicle documents including registration, insurance, service history, and warranty cards

3. Schedule 3 - Vehicle Inspection Report: Recent inspection report or condition assessment of the vehicle

4. Schedule 4 - Payment Schedule: Detailed payment terms and installment schedule if applicable

5. Appendix A - Photographs: Recent photographs of the vehicle showing its current condition

6. Appendix B - Maintenance Records: Service history and maintenance records of the vehicle

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Automotive

Transportation

Fleet Management

Retail

Manufacturing

Construction

Logistics

Car Rental

Corporate Services

Public Sector

Relevant Teams

Legal

Procurement

Sales

Operations

Administrative

Compliance

Fleet Management

Finance

Risk Management

Contract Management

Relevant Roles

Fleet Manager

Procurement Manager

Sales Manager

Legal Counsel

Compliance Officer

Business Development Manager

Operations Manager

Administrative Officer

Contract Administrator

Vehicle Sales Representative

Automotive Finance Manager

Risk Manager

Corporate Services Manager

Transportation Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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