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The Acknowledgement Receipt For Motor Vehicle is a crucial document in Nigerian vehicle transactions that provides legally recognized proof of vehicle transfer and payment receipt. This document is required when transferring ownership of any motor vehicle in Nigeria, whether between private individuals, companies, or other entities. It must comply with the Federal Road Safety Commission regulations and Nigerian Contract Law requirements. The receipt includes essential details such as vehicle specifications (make, model, VIN, registration number), complete party information, transaction details, and transfer declarations. This document serves multiple purposes: it protects both parties' interests, facilitates vehicle registration transfer, and provides necessary documentation for insurance and financing purposes. It's particularly important in Nigeria where proper documentation of vehicle ownership is crucial for legal and regulatory compliance.

1. Receipt Information: Date, receipt number, and location of transaction

2. Parties' Details: Full names, addresses, and contact information of both the seller/transferor and buyer/transferee

3. Vehicle Information: Comprehensive details of the vehicle including make, model, year, color, VIN/chassis number, engine number, and registration number

4. Transaction Details: Purchase price, payment method, and confirmation of payment received

5. Vehicle Condition: Statement describing the current condition of the vehicle and any known issues

6. Transfer Declaration: Clear statement of transfer of ownership and possession from seller to buyer

7. Warranties and Representations: Seller's confirmation that the vehicle is free from encumbrances and legally owned

8. Signatures: Space for signatures of both parties and witnesses