Used Car Buy Sell Agreement Template for Saudi Arabia

The Used Car Buy Sell Agreement is a crucial legal document used in Saudi Arabia for facilitating the transfer of ownership of pre-owned vehicles. It is designed to comply with Saudi Arabian commercial law, traffic regulations, and Sharia principles, making it suitable for both private sales and dealership transactions. This document should be used whenever a used vehicle is being sold in Saudi Arabia, as it provides essential protections for both parties and ensures compliance with local regulatory requirements. The agreement includes comprehensive details about the vehicle, its condition, the transaction terms, and the responsibilities of each party. It also addresses specific Saudi Arabian requirements such as official registration transfer procedures, mandatory vehicle inspections, and proper documentation requirements. The document is particularly important given the significant used car market in Saudi Arabia and the need for clear documentation of vehicle transactions.

1. Parties: Identification of the seller and buyer with complete contact details and national ID/Iqama numbers

2. Background: Brief context of the sale transaction and acknowledgment of the parties' capacity to enter into the agreement

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

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

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

6. Seller's Representations and Warranties: Declarations regarding vehicle ownership, condition, accident history, and absence of encumbrances

7. Vehicle Inspection and Condition: Detailed description of the vehicle's current condition, known defects, and recent maintenance

8. Transfer of Ownership: Process and requirements for transferring vehicle ownership through official channels

9. Completion Requirements: Documents and actions required from each party to complete the sale

10. Risk and Insurance: Transfer of risk and insurance responsibilities

11. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution process