Sale Of Vehicle Form Template for Saudi Arabia

The Sale of Vehicle Form is a critical legal document used in Saudi Arabia for documenting and executing vehicle ownership transfers. It serves multiple purposes across various scenarios, from private sales to commercial fleet transactions. The document must comply with Saudi Arabian traffic regulations, commercial law, and Sharia principles, making it suitable for use by individuals, corporations, and car dealerships. It includes comprehensive details about the vehicle, parties involved, financial terms, and transfer procedures, while also incorporating necessary consumer protection elements and regulatory requirements. The form is designed to protect both buyer and seller interests while ensuring smooth processing with relevant authorities such as the Traffic Department and Ministry of Interior.

1. Parties: Details of the seller and buyer including full legal names, national ID/Iqama numbers, contact information, and addresses

2. Background: Brief context stating the seller's ownership and intention to sell, and the buyer's intention to purchase the vehicle

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

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN, license plate number, mileage, and registration details

5. Purchase Price and Payment Terms: Agreed purchase price, payment method, payment schedule if applicable, and VAT details

6. Seller's Representations and Warranties: Seller's declarations regarding vehicle ownership, condition, absence of liens, and legal right to sell

7. Transfer of Ownership: Process and timing of ownership transfer, including registration transfer requirements and responsibilities

8. Vehicle Handover: Details of physical transfer of vehicle, including timing, location, and included items/documents

9. Governing Law: Specification that Saudi Law and Sharia principles govern the agreement