The Vehicle Sales Agreement serves as a legally binding document under Malaysian jurisdiction for transactions involving the sale and purchase of vehicles. This agreement is essential for both private and commercial vehicle sales, providing a structured framework that ensures compliance with Malaysian regulations while protecting the interests of all parties involved. The document includes crucial details such as vehicle specifications, price, payment terms, warranties, and ownership transfer procedures. It's designed to prevent disputes by clearly outlining responsibilities and obligations of both parties, incorporating requirements from relevant Malaysian legislation including the Sale of Goods Act 1957 and Road Transport Act 1987.
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1. Parties: Identification of the seller and buyer with complete details including name, IC/registration number, and address
2. Background: Brief context of the transaction and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, chassis number, engine number, and registration number
5. Purchase Price: Statement of the agreed purchase price and payment terms
6. Payment Terms: Detailed breakdown of payment method, schedule, and conditions
7. Transfer of Ownership: Terms regarding the transfer of vehicle ownership and registration
8. Seller's Representations and Warranties: Warranties regarding vehicle condition, ownership, and encumbrances
9. Buyer's Obligations: Responsibilities of the buyer including insurance, registration, and compliance with laws
10. Delivery: Terms regarding vehicle delivery or collection
11. Risk and Title: Provisions about when risk and title pass to the buyer
12. Termination: Circumstances under which the agreement can be terminated
13. Governing Law: Specification of Malaysian law as governing law
14. Dispute Resolution: Process for resolving any disputes arising from the agreement
15. Notices: How formal communications between parties should be made
16. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability
1. Trade-In Vehicle: Details of any vehicle being traded in as part of the purchase
2. Financing Terms: Include when the purchase involves external financing or hire-purchase arrangements
3. Condition Report: Detailed report of the vehicle's condition, recommended for used vehicles
4. Accessories and Modifications: List of additional accessories or modifications included in the sale
5. Extended Warranty: Terms of any extended warranty or service package
6. Insurance Arrangements: Specific insurance requirements or arrangements
7. Third-Party Rights: Rights of financing institutions or other third parties
8. Commission: Include when a dealer or agent is involved in the sale
1. Vehicle Specification Sheet: Detailed technical specifications of the vehicle
2. Vehicle Inspection Report: Professional inspection report detailing vehicle condition
3. Payment Schedule: Detailed breakdown of payment installments if applicable
4. List of Accessories: Comprehensive list of all accessories included in the sale
5. Vehicle Documents: List of all documents to be transferred with the vehicle
6. Photos of Vehicle: Dated photographs showing vehicle condition at time of sale
7. Service History: Record of vehicle maintenance and service history
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