The Second Hand Bike Purchase Agreement is a vital legal document used in the Philippines for transactions involving pre-owned motorcycles or bicycles. This agreement is essential for both private sales and commercial transactions, ensuring compliance with Philippine legislation including the Civil Code, Consumer Act, and Land Transportation and Traffic Code. It should be used whenever a second-hand bike is being sold, whether between private individuals or commercial entities. The document includes critical information such as vehicle identification details, price, payment terms, warranties, and transfer procedures. It helps prevent future disputes by clearly documenting the condition of the vehicle, any known issues, and the agreed terms of sale. The agreement is particularly important in the Philippine context where second-hand vehicle transactions must adhere to specific regulatory requirements for registration transfer and roadworthiness certification.
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1. Parties: Identifies and provides full details of the Seller and Buyer
2. Background: Brief context about the transaction and the bike being sold
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the bike, including the purchase price
5. Bike Details: Comprehensive description of the bike including make, model, year, registration number, and frame number
6. Payment Terms: Details of the purchase price, payment method, and timing
7. Delivery and Transfer: Arrangements for physical transfer of the bike and documentation
8. Seller's Warranties: Seller's representations about ownership and condition of the bike
9. Buyer's Acknowledgments: Buyer's confirmation of inspection and acceptance of the bike's condition
10. Registration and Documentation: Requirements for transfer of registration and other necessary paperwork
11. Governing Law: Specifies that Philippine law governs the agreement
1. Financing Terms: Include when purchase involves installment payments or financing arrangements
2. Conditional Sale: Used when sale is subject to specific conditions being met
3. Insurance Requirements: Include when specific insurance arrangements are part of the sale
4. Modifications Disclosure: Include when bike has custom modifications or non-standard parts
5. Third-Party Rights: Include when there are existing liens or third-party interests to be addressed
6. Return Policy: Include if seller offers any return or exchange terms
7. Dispute Resolution: Include when parties want specific arbitration or mediation procedures
1. Schedule 1 - Bike Specification: Detailed technical specifications and features of the bike
2. Schedule 2 - Condition Report: Detailed assessment of bike's current condition, including photographs
3. Schedule 3 - Service History: Documentation of maintenance and repairs
4. Schedule 4 - Modification Details: List and description of any modifications made to the bike
5. Appendix A - Required Documentation: Checklist of documents required for transfer of ownership
6. Appendix B - Payment Schedule: If applicable, detailed breakdown of installment payments
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