When it comes to buying or selling a bike in India, having a proper sell agreement format is essential. This document outlines the terms and conditions of the sale and protects both the buyer and seller from any disputes that may arise in the future. In this article, we will explore the basics of a bike sell agreement format in India and what should be included in it.
The first section of the agreement should clearly state the details of the bike being sold, including the make, model, year, and registration number. It should also include the current mileage of the bike and any accessories or modifications that are included in the sale.
Next, the agreement should outline the terms of payment. This includes the total selling price, any down payment made, and the date on which the full payment will be made. It should also specify the mode of payment, such as cash, cheque, or online transfer.
The seller should also include a clause that protects them from any liabilities in case of accidents or damages to the bike after the sale has been completed. This clause should state that any damages to the bike after the date of sale will be the responsibility of the buyer.
In addition to the terms of payment, the agreement should also state the date of delivery of the bike to the buyer. It is important to specify any delivery charges or transportation costs that may be incurred by the buyer.
Finally, the agreement should include a clause that states that the bike is being sold in its current condition and that the seller does not provide any guarantee or warranty for the same.
In conclusion, a bike sell agreement format is an important document that ensures a smooth and hassle-free sale of a bike in India. It outlines the terms and conditions of the sale and protects both the buyer and seller from any future disputes. By including the aforementioned details, you can ensure that the sale of your bike is executed in a professional and legal manner.