________ , PAN No.: ________ , Parent: ________ , Correspondence Address: ________ , (hereinafter referred to as ("Seller") which expression shall unless repugnant to the meaning or context thereof also mean and include his/ her successors and permitted assigns)
AND
________ , PAN No.: ________ , Parent: ________ , Correspondence Address: ________ (hereinafter referred to as ("Buyer") which expression shall unless repugnant to the meaning or context thereof also mean and include his/ her successors and permitted assigns).
WHEREAS the Seller desires to sell the Vehicle described below, known herein as the "Vehicle" under the terms and conditions set forth below;
AND WHEREAS Buyer desires to purchase the Vehicle offered for sale by the Seller under the terms and conditions set forth below.
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by the parties as set forth herein, the parties, intending to be legally bound, hereby agree as follows:
1. VEHICLE INFORMATION
1.1. Vehicle Type: Car
1.2. Company: ________
1.3. Model: ________
1.4. Colour: ________
1.5. Odometer Reading: ________ (________) Kilometers
1.7. Year of Manufacture: ________
1.8. Registration Number: ________
1.9. Registration Date (Month & Year): ________
1.10. Engine Number: ________
1.11. Chassis Number: ________
1.12. Tax Validity: ________
1.13. Registration Validity: ________
2. CONSIDERATION
2.1. The total purchase price to be paid by the Buyer to the Seller for the Vehicle including taxes and other costs is Rs ________ /- (________) ("Purchase Price") which will be paid as follows:
2.1.1. Down Payment: Rs. ________ /- (________) (Due to the Seller on or before execution of this Agreement). The Down Payment will be made through the following method: Cash .
2.1.2. Payment due at the Delivery of the Vehicle to the Buyer: Rs ________ /- (________). The Down Payment will be made through the following method: Cash .
3. STAMP DUTY
Unless otherwise agreed in writing. The Buyer is responsible for any stamp duty in relation to the sale and purchase of the Vehicle under this Agreement.
4. DELIVERY
4.1. The seller shall deliver the Vehicle to the Buyer on or before ________ ("Delivery Date").
4.2. The Vehicle will be delivered at the aforementioned Seller's address .
4.3. The Seller will be liable to pay the Rs 1000/- per day as the penalty for any delay in the delivery of the Vehicle.
4.4. It is Seller's duty to ensure that the Vehicle is delivered in the same condition as last inspected by the Buyer (or, if the inspection is not conducted, the date of execution of this Agreement).
4.5. It is the duty of the Buyer to take possession of the Vehicle at the aforementioned Seller's address on the aforementioned date. If the Buyer fails to take possession, then the risk of loss passes to the Buyer from the Delivery Date.
5. REPRESENTATIONS AND WARRANTIES BY THE SELLER
5.1. The Seller warrants that all details provided are accurate.
5.2. Seller hereby states that the Seller is the legal and beneficial owner of the Vehicle and there are no legal restrictions to sell the Vehicle.
5.3. Seller is duly authorized to enter and execute this Agreement.
5.4. Seller hereby states that the odometer in the Vehicle now reads ________ (________) Kilometers and to the best of the seller's knowledge, it reflects the actual mileage of the Vehicle and has not been altered, disconnected, set back or reset or otherwise tampered with, whether by the Seller or any other party.
5.5. The Seller warrants that the Vehicle has complete service history from the authorized service centre of the Vehicle company and any/all accidents have been made fully known to the Buyer.
5.6. That the Vehicle is free from any encumbrances and at the time of delivery the Seller will be provided all the required documents for the legitimate transfer of the Vehicle along with the aforementioned vehicle documents of the Vehicle.
5.7. The Seller warrants that there are no pending challans, court cases, or taxes, against the Vehicle and if any, will be borne by the Seller till the date of delivery of this Vehicle.
5.8. The Seller warrants that there is no outstanding finance, residual, or debt of any kind attributed to the Vehicle. If there was any finance taken against the Vehicle the Seller will get the NOC or any such documents from the financier.
5.9. The Seller has made the Buyer fully aware of any current faults of which the Seller is reasonably aware with the Vehicle and that there are no deliberately hidden faults on the Vehicle.
5.10. The Seller will provide the Buyer with all spare/duplicate keys of the Vehicle at the time of delivery.
5.11. The Seller will provide the Buyer with all documentation relating to the ownership and transfer of the Vehicle upon the payment of consideration as mentioned above.
5.12. The Seller will extend all support to transfer the Vehicle to the name of the Buyer.
5.13. The Seller will not be liable for any subsequent faults, normal wear and tear, or defects unless such defects were deliberately hidden or if a guarantee is offered by the Buyer to the Seller.
5.14. The Seller provides no guarantee to the Vehicle except as set out in this Agreement.
6. OBLIGATIONS OF THE BUYER
6.1. The Buyer agrees to pay the agreed price to the Seller as mentioned under the clause 'Consideration'.
6.2. The Buyer warrants that all the details provided are accurate.
6.3. The Buyer warrants that he/she is fully aware of the Vehicle history and any current faults of the Vehicle.
6.4. The Buyer has inspected the Vehicle and accepts the Vehicle in its current state as seen.
6.5. The Buyer agrees to initiate the process of transferring the RC to his/her name immediately after the delivery of the Vehicle. Upon submitting the application at the concerned RTO, the Buyer shall send a copy of the receipt to the Seller. Upon receipt of the changed RC, the Buyer shall inform the Seller of the Same and send a copy of the new RC.
6.6. The Buyer agrees that any challans and liabilities arising after entering into this Agreement shall be borne by the Buyer.
7. HEADINGS
The headings in this Agreement are included for the convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect.
8. 58558285585588
552 2552828 58222882522 525 52522 2552 2585 25522 558 52882825 525 2222285225 252 22528 525 2528888228 22 2588 825222222 525 558 555 252 22225252822 22 8222588522 22 828 52888822. 88825582282, 252 5582 22 822825582822 22 252 222282 2552 52882582828 552 52828825 5258282 252 55522822 25522 85588 222 82 22282225 82 252 82225252252822 22 2588 825222222. 852525, 252 22528 22 2588 825222222 85588 82 822825525 258582 58 22 8225 2552828 525 222 82 258255 25 5258282 282525 25522.
9. 88 285558
552 2588552 22 522 25522 525222 22 2222582 522 252888822 22 2588 825222222 85588 82 22 852 82 822825525 22 82 5 858825 22 8585 2528888228 25 22 522282 252 85885822 22 2588 825222222 25 522 2552 2525222 25 252 58252 22 282525 25522 22 2222582 2585 525 28252 252888822 82 5882555282 8825 828 22528.
10. MODIFICATION OF AGREEMENT
In the event any provision of this Agreement is determined to be invalid by any court or other entity of competent jurisdiction, the provision of this Agreement shall be deemed to have been amended and the parties hereto agree to execute all documents necessary to evidence such amendment so as to eliminate or modify any such invalid provision so as to carry out the intent of this Agreement as far as possible and to render this Agreement enforceable in all respects as so modified.
11. NOTICES
All the notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, once acknowledged by the recipient, (c) sent by email if, provided under this Agreement.
12. FORCE MAJEURE
Neither party shall be liable to the other for any delay or non-performance of its obligations hereunder in the event and to the extent that such delay or non-performance is due to an event of Force Majeure.
"Force Majeure" shall mean events beyond the control of the party that occur after the date of signing of this Agreement and which were not foreseeable at the time of signing of this Agreement and whose effects are not capable of being overcome without the unreasonable expense and/or loss of time to the party concerned. Events of Force Majeure shall include, but not be limited to, war, natural disasters, and any other comparable events not directly or indirectly caused by the affected party.
In the event that the delay or non-performance of either party hereto continues for a period of one month due to reasons of events of Force Majeure, then either party shall have the right to terminate this Agreement with immediate effect.
13. DISPUTE RESOLUTION
This agreement shall be governed by and in accordance with the laws of India and the courts of ________ , Andaman and Nicobar Islands will have the exclusive jurisdiction.
14. LEGAL FEE AND COSTS
In the event of any legal action by the Buyer or Seller to enforce any one or more provisions of this Agreement, whether at law or in equity, the prevailing party shall be entitled to receive from the other party all enforcement costs including, without limitation, reasonable legal fees and costs whether incurred before, during and after the trial or other litigation including appeal.
15. SURVIVAL OF OBLIGATION
Notwithstanding any other provisions of this Agreement, at termination, expiration or completion of this Agreement, any provisions of this Agreement which would by their nature be expected to survive termination, expiration or completion shall remain in provisions that are explicitly stated to survive termination, expiration or completion shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination, expiration or completion.
16. COUNTERPARTS
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument.
17. ENTIRE AGREEMENT
Both the parties represent and agree that they have read this Agreement, and understand its terms and the fact that it releases all claims each might have entered into this Agreement without duress or coercion from any source. This Agreement supersedes all other Agreements entered into between the parties.
IN WITNESS WHEREOF, the parties hereto have executed this agreement on ________ .
________ ("Seller")
________ ("Buyer")
WITNESS-1