An Auto purchase contract is initiated between an auto company or an auto owner and an interested customer who wish to purchase the auto. Such contract consists of the payment terms, specifications of the vehicles, usage and obligations.
Sample Auto purchase contract:
Contract number: 45/ AP
Date: December 26th, 2010
This contract is produced and declared by Ms. Linda Ramsay, Address: office no: 12/ H, Wing- O, Graham Road, Toronto, Canada, hereinafter referred as the auto owner party.
Ms. Susan Smith, Permanent Address: house no: 90/ L, Down Street, Baker’s Road, Toronto, Canada, hereinafter referred as the buyer party.
Specifications of the Auto:
Name of the vehicle: Maruti Suzuki Auto
Condition: brand new
Purpose of purchase: Business Use
Mode on payment: Cash
The buyer party is interested to buy the vehicle, and the auto owner party is willing to sell the vehicle.
This purchase contract is commencing from December 26th, 2010.
Covenants and conditions of the contract are as given:
Auto owner obligations:
The auto owner party will transfer the documents of purchase along with an authenticated original invoice copy with the vehicle to the buyer party after receiving the full amount.
Responsibilities of the buyer party:
The buyer party will check all documents of the vehicle at the time of delivery, whereas any lost document will not be the responsibility of the auto owner party.
The maintenance of the vehicles will be the responsibility of the buyer and should be followed as explained in the user manuals.
The buyer party will make the full payment to the auto owner party at the time of purchase, whereas the mode of payment is declared above. The buyer party has already made a payment of $ 4500 as an advance amount.
Validation of the contract:
Signature of the auto owner party:
Signature of the buyer party: