Legal Templates
Deed Of Sale Tricycle With Franchise

Deed Of Sale Tricycle With Franchise Template for Singapore

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Deed Of Sale Tricycle With Franchise

"I need a Deed of Sale Tricycle With Franchise to transfer my food delivery tricycle business and its associated franchise rights to a buyer in Singapore, with completion scheduled for March 15, 2025, including specific provisions for maintaining existing delivery contracts."

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What is a Deed Of Sale Tricycle With Franchise?

The Deed of Sale Tricycle With Franchise is commonly used in Singapore when transferring both physical assets (tricycle) and business rights (franchise) in a single transaction. This document is essential when the seller wishes to transfer not just the vehicle but also the associated business rights and operating permits. The deed ensures compliance with Singapore's transportation regulations, business transfer requirements, and franchise laws. It includes comprehensive details about the vehicle specifications, franchise terms, warranties, and transfer conditions. This document is particularly important in Singapore's regulated transport sector where proper documentation of ownership and operating rights is crucial.

What sections should be included in a Deed Of Sale Tricycle With Franchise?

1. Parties: Details of seller and purchaser including full names, identification numbers, and addresses

2. Background: Context of the sale and franchise transfer, including current ownership status

3. Definitions: Key terms used in the deed including 'Vehicle', 'Franchise', 'Completion Date', etc.

4. Subject Matter of Sale: Description of tricycle and franchise rights being transferred

5. Purchase Price: Amount and payment terms for both vehicle and franchise rights

6. Transfer of Ownership: Terms and process of ownership transfer for both vehicle and franchise

7. Warranties and Representations: Seller's warranties regarding vehicle condition and franchise rights

8. Completion: Transfer completion procedures and requirements

What sections are optional to include in a Deed Of Sale Tricycle With Franchise?

1. Condition of Vehicle: Detailed description of vehicle condition, maintenance history, and known issues

2. Franchise Territory: Geographic limitations and scope of franchise rights

3. Training Provisions: Training obligations of seller and timeline for knowledge transfer

What schedules should be included in a Deed Of Sale Tricycle With Franchise?

1. Schedule 1 - Vehicle Details: Technical specifications, registration details, and vehicle identification numbers

2. Schedule 2 - Franchise Rights: Detailed description of franchise rights, obligations, and restrictions

3. Schedule 3 - Existing Licenses: Copies of current vehicle and business licenses and permits

4. Schedule 4 - Vehicle Inspection Report: Recent inspection report detailing vehicle condition

5. Schedule 5 - Transfer Documents: Required LTA and business registration transfer forms

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

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alex.den.21@genieai.co
Industries

Road Traffic Act (Chapter 276): Primary legislation governing vehicle ownership, registration requirements, and road safety standards in Singapore. Key for tricycle registration and operation.

Business Names Registration Act 2014: Legislation governing business and franchise registration requirements, including procedures for transfer of business rights in Singapore.

Sale of Goods Act (Chapter 393): Governs the legal framework for sale of goods and transfer of ownership, including warranties and conditions in sales contracts.

Stamp Duties Act (Chapter 312): Regulates stamp duty requirements and applicable rates for vehicle transfer documents in Singapore.

Singapore Motor Vehicles (Third-Party Risks and Compensation) Act: Covers mandatory insurance requirements and liability considerations for motor vehicles including tricycles.

Land Transport Authority (LTA) Regulations: Specific regulatory requirements for tricycles/three-wheelers, including operating permits, licenses, and vehicle specifications.

Competition Act (Chapter 50B): Legislation governing franchise agreements and market competition regulations in Singapore.

Consumer Protection (Fair Trading) Act: Ensures consumer rights protection and fair trading practices in business transactions including vehicle and franchise sales.

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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