2 Wheeler Sale Agreement

Take the expression of these forms and let it be duly completed and signed. And do it in the RTO for a change of ownership of the bike. Form 28 and the transfer document are not required for sale/purchase, but form 29 and form 30 are mandatory. Make sure the RC book is correct and that the engine and chassis number printed in the book matches the bike`s number. Similarly, the owner`s name must be correct, once the sale is made through the RTO office, the owner`s name is changed to the name of the new buyer. 2- That I have received the full and final review of the sale of the above vehicle by the above buyer. At the time of the sale, the purchaser must have the fund in his possession in the form of a certified cheque, instruction or cashier, unless the parties have agreed to make a transfer. The seller must enter the title of the motorcycle, registration, and buyer and seller must enter the details into the sales invoice. Contracting parties may include the compromise clause in this agreement. As part of the arbitration process, any dispute, if any arises between the parties, is referred to a third party («arbitrator») who is designated with each other by both parties.

The arbitrator will hear from both parties and decide on the merits of the case. The arbitrator`s decision is final and binding on both parties. The Motorcycle Bill of Sale is an agreement that allows a person to purchase and retain a receipt after the transaction required for titling and registration. With respect to the buyer`s cash payment, this document is the only paper document that provides evidence that a legal sale and purchase took place and that the transfer of ownership took place. The bike is sold in an «as-is» state. If an inspection request is submitted before the end of the sale, it must be completed. This document requires witnesses and notaries by a state notary. When selling a motorcycle, it is best to consider all the options for marketing the bike in order to get the highest price. Once a potential buyer has been found, it is recommended to negotiate the terms of the sale and sign a legally binding contract using a sales slip. Once the transaction is completed, the buyer needs the sales bill to be able to register in his or her respective condition. If you offer the bike for sale, it is best to have it under as many eyes as possible. Therefore, the seller should use all online markets, newspapers and local classified magazines.

This implies that the seller takes pictures of the bike and collects all the necessary information that can be used in marketing and advertising materials. To be a valid contract, both the seller and the buyer must correctly sign this agreement with the witnesses and execute it on a valid stamp document, as applicable in the state of execution of the agreement.