Motor Vehicle Contract Of Sale Template for Malaysia

The Motor Vehicle Contract of Sale is a crucial legal document used in Malaysia for facilitating the purchase and sale of vehicles between parties. It is designed to comply with Malaysian legislation, including the Road Transport Act 1987, Contracts Act 1950, and Consumer Protection Act 1999. This document is essential for both private and commercial vehicle transactions, providing a comprehensive framework that covers vehicle identification, payment terms, warranties, and ownership transfer procedures. It can be used for new and used vehicle sales, incorporating necessary provisions for various payment methods, including hire purchase arrangements when applicable. The contract helps prevent disputes by clearly documenting the terms of sale and the conditions of the vehicle, while ensuring all legal requirements for vehicle transfer in Malaysia are met.

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 confirmation that the seller owns the vehicle and has the right to sell it

3. Definitions: Definitions of key terms used throughout the agreement including 'Vehicle', 'Purchase Price', 'Completion Date', etc.

4. Sale and Purchase: Core agreement for the sale and purchase of the vehicle, including the purchase price and payment terms

5. Vehicle Details: Comprehensive description of the vehicle including make, model, year, registration number, chassis number, and engine number

6. Condition of Vehicle: Statement of the vehicle's current condition, any known defects, and recent maintenance history

7. Warranties and Representations: Seller's warranties regarding vehicle ownership, condition, and absence of encumbrances

8. Transfer of Ownership: Process and obligations for transferring vehicle ownership including registration and documentation

9. Payment Terms: Detailed payment structure including deposit, balance payment, and payment methods

10. Completion: Requirements and process for completing the sale including delivery and handover of vehicle and documents

11. Default and Termination: Consequences of default by either party and circumstances for termination

12. Governing Law: Confirmation that the agreement is governed by Malaysian law

13. Execution: Signature blocks for parties and witnesses