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Bill Of Sale Contract With Payments
"I need a Bill of Sale Contract with Payments for selling my construction equipment to a corporate buyer in Riyadh, with monthly installments over 24 months starting March 2025, including provisions for maintenance during the payment period and security interest until full payment."
1. Parties: Identification of the seller and buyer with full legal names, addresses, and any registration numbers
2. Background: Context of the sale and brief description of the transaction
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Clear statement of the seller's intention to sell and the buyer's intention to purchase the specified property
5. Description of Property: Detailed description of the property being sold, including all relevant specifications, conditions, and identifying features
6. Purchase Price: Total purchase price and detailed payment structure
7. Payment Terms: Schedule of payments, including installment amounts, due dates, and payment methods
8. Transfer of Title: Terms regarding when and how legal ownership transfers from seller to buyer
9. Seller's Representations and Warranties: Seller's guarantees regarding ownership, condition, and quality of the property
10. Buyer's Acknowledgments: Buyer's confirmation of property inspection and acceptance of condition
11. Default and Remedies: Consequences of payment default and available remedies for both parties
12. Governing Law: Specification of Saudi law and Sharia principles as governing law
1. Insurance Requirements: Required when the property needs to be insured during the payment period
2. Maintenance and Use: Include when the property requires specific maintenance or has usage restrictions during the payment period
3. Security Interest: Include when additional security or collateral is required for the payment arrangement
4. Registration Requirements: Required when the property needs official registration (e.g., vehicles, real estate)
5. Third-Party Rights: Include when there are existing third-party interests or rights that need to be addressed
6. Export/Import Provisions: Required when the property is subject to international trade regulations
7. Arbitration Clause: Optional dispute resolution mechanism through arbitration instead of courts
1. Schedule 1: Property Details: Detailed technical specifications, photographs, or diagrams of the property
2. Schedule 2: Payment Schedule: Detailed breakdown of payment installments, dates, and amounts
3. Schedule 3: Delivery Terms: Specific arrangements for property delivery or transfer
4. Schedule 4: Condition Report: Detailed report of the property's condition at the time of sale
5. Schedule 5: Required Documents: List of documents required for transfer of ownership
6. Appendix A: Maintenance Requirements: If applicable, detailed maintenance specifications and schedules
7. Appendix B: Warranty Terms: Detailed warranty terms and conditions if provided by the seller
Authors
Property
Purchase Price
Completion Date
Completion
Deposit
Down Payment
Effective Date
Encumbrance
Event of Default
Installment Payment
Interest (Profit Rate)
Late Payment Charges
Liens
Outstanding Balance
Payment Date
Payment Schedule
Payment Term
Possession Date
Purchase Documents
Regulatory Authority
SAMA
Security Interest
Seller's Warranties
Title Documents
Transfer Date
Transfer of Ownership
Business Day
Condition Report
Delivery Location
Force Majeure
Governing Law
Maintenance Requirements
Material Adverse Change
Notice
Parties
Relevant Authority
Sharia Principles
Term
Territory
Warranties
Payment Terms
Transfer of Title
Delivery
Warranties and Representations
Default
Remedies
Security Interest
Registration
Insurance
Maintenance
Inspection Rights
Risk and Property
Seller's Obligations
Buyer's Obligations
Force Majeure
Termination
Governing Law
Dispute Resolution
Notices
Assignment
Entire Agreement
Severability
Amendments
Compliance with Laws
Sharia Compliance
Third Party Rights
Costs and Expenses
Further Assurance
Counterparts
Automotive
Real Estate
Industrial Equipment
Manufacturing
Construction
Agriculture
Technology
Transportation
Energy
Maritime
Aviation
Heavy Machinery
Legal
Finance
Sales
Compliance
Risk Management
Operations
Commercial
Procurement
Credit Control
Asset Management
Contract Administration
Legal Counsel
Contract Manager
Sales Director
Finance Manager
Commercial Director
Compliance Officer
Risk Manager
Business Development Manager
Operations Manager
Asset Manager
Property Manager
Fleet Manager
Procurement Manager
Credit Controller
Legal Administrator
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