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As Is Bill Of Sale for Nigeria

As Is Bill Of Sale Template for Nigeria

A comprehensive legal document governed by Nigerian law that facilitates the transfer of property or assets from a seller to a buyer in their current condition, without any warranties or guarantees. This document explicitly states that the buyer accepts the property "as is," acknowledging any existing defects or conditions. It includes detailed property descriptions, purchase price, and transfer terms while complying with Nigerian contract law requirements, including necessary witness signatures and proper execution procedures as mandated by local legislation.

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What is a As Is Bill Of Sale?

The As Is Bill of Sale is a crucial document in Nigerian business and personal transactions, used when transferring ownership of property or assets without warranties or guarantees. This document is particularly important in situations where the seller wishes to transfer property in its current condition while limiting their liability for the item's future performance or condition. Under Nigerian law, this document must comply with the Sale of Goods Act and Contract Law Act, requiring proper witnessing and potential stamping under the Stamp Duties Act. The document is commonly used for second-hand equipment sales, vehicle transfers, and other asset disposals where the buyer has inspected and accepted the item's current condition. It includes essential elements such as party details, property description, purchase price, and explicit "as is" disclaimers.

What sections should be included in a As Is Bill Of Sale?

1. Parties: Identifies and provides full details of the seller and buyer, including names, addresses, and contact information

2. Background: Brief context explaining the seller's ownership of the property and intention to sell

3. Definitions: Defines key terms used in the document

4. Property Description: Detailed description of the property being sold, including any identifying numbers, marks, or characteristics

5. Purchase Price: States the agreed purchase price and payment terms

6. As Is Condition: Explicitly states that the property is sold 'as is' with no warranties or guarantees

7. Transfer of Title: Confirms the transfer of ownership from seller to buyer

8. Risk and Responsibility: States when risk transfers to the buyer and their responsibility for the property

9. Seller's Representations: Limited representations about ownership and authority to sell

10. Governing Law: Specifies that Nigerian law governs the agreement

11. Execution: Signature blocks for parties and witnesses as required under Nigerian law

What sections are optional to include in a As Is Bill Of Sale?

1. Delivery Terms: Include when delivery arrangements need to be specified, particularly for large items or delayed collection

2. Known Defects: While selling 'as is', seller may choose to disclose known major defects to prevent future disputes

3. Payment Schedule: Include if payment is to be made in installments rather than a single payment

4. Third Party Rights: Include if there are any third party interests or rights that need to be addressed

5. Language Declaration: Include if any party is illiterate or requires translation under the Illiterate Protection Act

6. Prior Encumbrances: Include if there are any existing liens or encumbrances that need to be disclosed

What schedules should be included in a As Is Bill Of Sale?

1. Property Details Schedule: Detailed technical specifications, photographs, or detailed descriptions of the property

2. Condition Report: Current condition documentation including photographs and noted defects or damage

3. Title Documents: Copies of relevant ownership documents or previous bills of sale

4. Payment Schedule: If applicable, detailed breakdown of installment payments and dates

5. Delivery Schedule: If applicable, detailed logistics and delivery arrangements

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

Jurisdiction

Nigeria

Publisher

Genie AI

Document Type

Bill of Sale

Sector

Sales

Cost

Free to use
Relevant legal definitions

























Clauses




















Relevant Industries

Automotive

Manufacturing

Agriculture

Real Estate

Construction

Mining

Oil and Gas

Retail

Transportation

Industrial Equipment

Marine

General Commerce

Relevant Teams

Legal

Operations

Procurement

Sales

Finance

Asset Management

Risk and Compliance

Contract Administration

Property Management

Relevant Roles

Legal Counsel

Operations Manager

Asset Manager

Procurement Officer

Sales Manager

Finance Manager

Business Development Manager

Property Manager

Fleet Manager

Compliance Officer

Contract Administrator

Risk Manager

Industries






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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