Document background
The Used Vehicle Sale Agreement is a crucial legal instrument in the Philippines for documenting the transfer of ownership of pre-owned vehicles. It is essential for both private sales and commercial transactions, providing protection for buyers and sellers while ensuring compliance with Philippine legal requirements. This document is particularly important given the significant used car market in the Philippines and the need to properly document vehicle transfers to prevent future disputes and ensure regulatory compliance. The agreement should be used whenever a used vehicle is being sold, whether between private individuals or through commercial dealers, and must comply with requirements set forth in the Civil Code of the Philippines, the Consumer Act, and the Land Transportation and Traffic Code. It typically includes comprehensive details about the vehicle, parties involved, payment terms, warranties, and the condition of the vehicle at the time of sale.
