The Bike Sale Agreement is essential for documenting the legal transfer of ownership of motorcycles, bikes, or similar vehicles in Saudi Arabia. This document is particularly important as it ensures compliance with both Saudi Arabian commercial law and Islamic Sharia principles, which govern all contracts in the jurisdiction. The agreement is commonly used by individuals, dealerships, and businesses for both private and commercial sales. It includes crucial details such as vehicle specifications, payment terms, warranties, and transfer of ownership procedures. The document becomes especially relevant when dealing with high-value motorcycles, fleet sales, or transactions involving financing arrangements. It helps protect both parties' interests by clearly stating their rights and obligations while ensuring adherence to local registration requirements and consumer protection laws.
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1. Parties: Identification of the seller and buyer with full legal names and contact details
2. Background: Brief context of the sale and the parties' intention to enter into the agreement
3. Definitions: Key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of the bike including make, model, year, color, frame number, and any accessories included
5. Purchase Price: The agreed price, including VAT, and payment terms
6. Delivery and Transfer of Ownership: Terms of delivery, location, and formal transfer of ownership
7. Seller's Representations and Warranties: Warranties regarding bike condition, ownership, and absence of encumbrances
8. Buyer's Acknowledgments: Buyer's confirmation of inspection and acceptance of the bike's condition
9. Risk and Insurance: Transfer of risk and responsibility for insurance
10. Governing Law and Jurisdiction: Confirmation of Saudi Arabian law as governing law and jurisdiction for disputes
1. Installation Payment Terms: Include when payment is to be made in installments, ensuring compliance with Islamic finance principles
2. Maintenance and Service History: Include when the bike has significant service history or ongoing maintenance requirements
3. Export/Import Provisions: Include when the bike may be exported/imported across borders
4. Broker/Agent Provisions: Include when a broker or agent is involved in the sale
5. Test Drive Terms: Include when test drives are permitted before purchase
6. Return Policy: Include for dealer sales or when specific return conditions are agreed
7. Modification Disclosure: Include when the bike has undergone modifications from original specifications
1. Schedule 1 - Bike Specifications: Detailed technical specifications and features of the bike
2. Schedule 2 - Condition Report: Detailed report of the bike's condition including photographs and noted defects
3. Schedule 3 - Service History: Documentation of maintenance and service history
4. Schedule 4 - Payment Schedule: If applicable, breakdown of installment payments with dates
5. Appendix A - Registration Documents: Copies of current registration and ownership documents
6. Appendix B - Inspection Certificates: Any relevant inspection or roadworthiness certificates
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