The Vehicle Agreement Between Two Parties is essential for documenting vehicle transfers in Singapore. It provides a comprehensive framework for both private and commercial vehicle sales, ensuring compliance with Singapore's Road Traffic Act and related regulations. This agreement is commonly used for both new and used vehicle sales, incorporating critical elements such as vehicle description, payment terms, warranties, and ownership transfer procedures. It helps prevent future disputes by clearly outlining each party's rights and obligations under Singapore law.
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1. Parties: Identification and details of both parties involved in the agreement
2. Background: Context and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Vehicle Description: Detailed specifications of the vehicle including make, model, registration number
5. Payment Terms: Price and payment schedule
6. Transfer of Ownership: Terms regarding the transfer of vehicle title
7. Warranties: Warranties and representations about the vehicle condition
8. Governing Law: Specification of Singapore law as governing law
1. Hire Purchase Terms: Additional terms and conditions when transaction involves hire purchase arrangements
2. Insurance Provisions: Details of insurance requirements and arrangements between parties
3. Maintenance Obligations: Specific responsibilities for vehicle maintenance and upkeep
4. Usage Restrictions: Specific limitations and conditions on vehicle use
1. Schedule 1 - Vehicle Condition Report: Detailed assessment of vehicle condition at time of agreement
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms if installment-based
3. Schedule 3 - Vehicle Documentation: Copies of registration, insurance, and other relevant certificates
4. Schedule 4 - Maintenance History: Record of previous maintenance and repairs
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