The Car As Is Sale Agreement is essential for transactions involving the sale of used vehicles in Hong Kong where the seller wishes to transfer the vehicle in its current condition without providing extensive warranties. This document is particularly relevant when selling older vehicles, vehicles with known issues, or in situations where the seller wants to limit their post-sale liability. The agreement must comply with Hong Kong's legal framework, including the Sale of Goods Ordinance and Road Traffic Ordinance, while clearly documenting the vehicle's condition, known defects, and the buyer's acknowledgment of these conditions. It's commonly used by both private sellers and dealerships, providing a structured framework for the transaction while protecting both parties' interests through clear documentation of the 'as is' nature of the sale.
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1. Parties: Identification of the seller and buyer with full legal names, ID numbers, and contact details
2. Background: Brief context of the sale and acknowledgment that the vehicle is being sold 'as is'
3. Definitions: Key terms used in the agreement including 'Vehicle', 'Purchase Price', 'Completion Date', etc.
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, VIN, registration number, mileage, and known conditions
5. Purchase Price and Payment: Agreed purchase price, payment method, and payment schedule if applicable
6. As Is Condition and Disclaimer: Clear statement that the vehicle is sold 'as is' with specific disclaimers of warranties
7. Seller's Representations: Limited representations about ownership, authority to sell, and absence of encumbrances
8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition
9. Transfer of Title: Process and obligations for transferring vehicle ownership
10. Completion: Details of when and where the sale will be completed
11. Governing Law: Specification that Hong Kong law governs the agreement
1. Deposit: Terms of any deposit required, to be included if the sale involves a deposit payment
2. Insurance: Arrangements for transfer or procurement of insurance, if being handled as part of the sale
3. Third-Party Claims: Additional provisions regarding potential third-party claims, recommended for high-value vehicles
4. Dispute Resolution: Specific dispute resolution procedures, recommended for high-value sales
5. Broker/Agent: Details of any broker or agent involved in the sale, if applicable
6. Outstanding Loans: Provisions dealing with outstanding loans or encumbrances, if any exist
1. Schedule 1 - Vehicle Condition Report: Detailed inspection report of the vehicle's condition, including photographs
2. Schedule 2 - Vehicle Documents: List of all documents provided with the vehicle (registration, maintenance records, etc.)
3. Schedule 3 - Known Defects: Itemized list of known defects or issues with the vehicle
4. Schedule 4 - Payment Schedule: If payment is in installments, detailed payment schedule
5. Appendix A - Vehicle Inspection Certificate: Copy of recent vehicle inspection certificate if available
6. Appendix B - Transfer Forms: Required Hong Kong Transport Department transfer forms
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