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Vehicle Sales And Purchase Agreement

Vehicle Sales And Purchase Agreement Template for Malaysia

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Key Requirements PROMPT example:

Vehicle Sales And Purchase Agreement

"I need a Vehicle Sales and Purchase Agreement for selling my used Toyota Camry to a private buyer in Kuala Lumpur, with the transaction to be completed by March 2025 and including a trade-in provision for the buyer's existing vehicle."

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Document background
The Vehicle Sales and Purchase Agreement is a crucial legal document used in Malaysia for documenting the transfer of vehicle ownership between parties. It serves as a comprehensive record of the transaction, protecting both buyer and seller by clearly stating the terms, conditions, and obligations of the sale. This agreement is essential for compliance with Malaysian road transport regulations, including the Road Transport Act 1987 and related legislation. It typically includes detailed vehicle information, price and payment terms, warranties, and transfer procedures. The document is used for both private sales and commercial transactions, and may incorporate additional provisions for financing arrangements or trade-ins when applicable.
Suggested Sections

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 purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

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

5. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment details

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

7. Transfer of Ownership: Process and obligations for transferring vehicle ownership and registration

8. Delivery: Terms and conditions for vehicle delivery including timing and location

9. Buyer's Obligations: Responsibilities of the buyer including payment, insurance, and registration transfer

10. Default and Termination: Consequences of default and conditions for agreement termination

11. Governing Law: Specification that Malaysian law governs the agreement

12. General Provisions: Standard contractual clauses including notices, amendments, and entire agreement

Optional Sections

1. Trade-In Vehicle: Details of any vehicle being traded in as part of the purchase, including condition and valuation

2. Hire Purchase Terms: Additional terms if the purchase is financed through a hire purchase arrangement

3. Vehicle Inspection: Specific provisions regarding pre-purchase inspection rights and procedures

4. Maintenance History: Details of the vehicle's service history and maintenance requirements

5. Insurance Arrangements: Specific provisions regarding transfer or arrangement of vehicle insurance

6. Dispute Resolution: Detailed procedures for handling disputes through mediation or arbitration

7. Third-Party Authorization: Authorization details if either party is acting through a representative

Suggested Schedules

1. Schedule 1 - Vehicle Specification: Detailed technical specifications and features of the vehicle

2. Schedule 2 - Vehicle Condition Report: Comprehensive report on the current condition of the vehicle including any existing damage or defects

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms including installments if applicable

4. Schedule 4 - Vehicle Documents: List of all documents to be transferred with the vehicle

5. Appendix A - Vehicle Photographs: Recent photographs of the vehicle documenting its condition

6. Appendix B - Maintenance Records: Copies of service history and maintenance records

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Vehicle
Purchase Price
Deposit
Balance Purchase Price
Completion Date
Delivery Date
Registration Card
Chassis Number
Engine Number
Identity Card
Registration Number
Transfer Documents
Encumbrance
Warranties
Road Transport Department
Completion
Business Day
Defect
Force Majeure
Purchaser
Seller
Payment Terms
Vehicle Documents
Roadworthiness Certificate
Service History
Transfer Fee
Insurance Policy
Purchase Tax
Delivery Location
Vehicle Condition Report
Settlement Date
Registration Fee
Stamp Duty
Maintenance Record
Relevant Industries

Automotive

Vehicle Manufacturing

Car Dealership

Used Car Sales

Vehicle Leasing

Automotive Finance

Insurance

Transport and Logistics

Fleet Management

Vehicle Import/Export

Relevant Teams

Legal

Sales

Finance

Compliance

Operations

Documentation

Risk Management

Customer Service

Administrative

Business Development

Relevant Roles

Sales Manager

Finance Manager

Legal Counsel

Compliance Officer

Fleet Manager

Automotive Sales Executive

Business Development Manager

Contract Administrator

Vehicle Registration Officer

Insurance Coordinator

Dealership Manager

Used Car Manager

Corporate Fleet Administrator

Documentation Specialist

Risk Management Officer

Industries
Road Transport Act 1987 (Act 333): Primary legislation governing road transport in Malaysia, including vehicle registration, transfer of ownership, and licensing requirements
Consumer Protection Act 1999: Provides protection for consumers in vehicle purchases, including provisions against misleading conduct and warranties for vehicle condition
Contracts Act 1950: Governs the fundamental aspects of contract formation, terms, and enforcement in Malaysia, providing the legal framework for the sales agreement
Hire-Purchase Act 1967: Relevant if the vehicle purchase involves hire-purchase financing, regulating the terms and conditions of such arrangements
Sales of Goods Act 1957: Governs the sale of goods including vehicles, defining rights and obligations of both seller and buyer
Stamp Act 1949: Regulates the stamp duty payable on vehicle transfer documents and agreements
Sales Tax Act 2018: Governs the imposition and collection of sales tax on vehicles, which may affect the final purchase price
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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