The Truck Purchase Agreement is a vital commercial document used in Malaysia for the acquisition of commercial vehicles. It is particularly important for businesses expanding their fleet or replacing existing vehicles, ensuring compliance with Malaysian transport regulations and commercial law. This agreement type is essential when purchasing new or used trucks, detailing everything from vehicle specifications and price to warranties and after-sales support. The document must comply with various Malaysian regulations including the Road Transport Act 1987 and Commercial Vehicles Licensing Board Act 1987. It's commonly used by transportation companies, manufacturers, and any business requiring heavy vehicles for their operations, providing legal protection for both buyer and seller while ensuring all regulatory requirements are met.
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1. Parties: Identifies and provides full details of the seller and purchaser
2. Background: Contextual information about the transaction and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transaction including price, payment terms, and transfer of ownership
5. Vehicle Specifications: Detailed description of the truck including make, model, specifications, and condition
6. Delivery and Acceptance: Terms regarding delivery location, timing, inspection, and acceptance procedures
7. Price and Payment: Purchase price, payment schedule, and payment methods
8. Registration and Documentation: Requirements for vehicle registration and transfer of ownership documents
9. Warranties and Representations: Warranties provided by seller and representations made by both parties
10. Regulatory Compliance: Compliance with Malaysian road transport and commercial vehicle regulations
11. Risk and Insurance: Transfer of risk and insurance requirements
12. Termination: Circumstances and procedures for terminating the agreement
13. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes
14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Financing Terms: Include when purchase involves financing or hire-purchase arrangements
2. Fleet Purchase Terms: Include for multiple vehicle purchases with specific fleet requirements
3. Training and Support: Include when seller provides driver training or specialized technical support
4. Trade-In Terms: Include when transaction involves trade-in of existing vehicles
5. Extended Warranty: Include when additional warranty coverage is being purchased
6. Maintenance Agreement: Include when ongoing maintenance services are part of the purchase
7. Environmental Compliance: Include specific environmental standards compliance when relevant to vehicle type
1. Schedule 1 - Vehicle Specifications: Detailed technical specifications of the truck
2. Schedule 2 - Price Breakdown: Itemized breakdown of purchase price including taxes and fees
3. Schedule 3 - Delivery Schedule: Detailed delivery timeline and requirements
4. Schedule 4 - Warranty Terms: Complete warranty terms and conditions
5. Schedule 5 - Required Documentation: List of registration and ownership transfer documents
6. Schedule 6 - Inspection Checklist: Pre-delivery inspection requirements and acceptance criteria
7. Appendix A - Vehicle Photos: Photographs documenting condition of vehicle at time of sale
8. Appendix B - Maintenance Records: If applicable, service history and maintenance records
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