Car Exchange Agreement Template
If you agree to exchange cars with your original partner, it is advisable to put the conditions in writing. To avoid problems and misunderstandings, both parties must fill out, print, sign and send signed copies to this form (or similar). Use the following guidelines: 7.3 Both parties agree that in the event of a dispute after the signing of the agreement, they must settle an arbitration before the International Chamber of Commerce before an arbitrator whose final judgment must settle the dispute and be final. WHEREAS: The seller is willing to sell the vehicle to the buyer on the terms set out in this agreement, and the buyer is ready to buy the vehicle from the seller under these conditions. 3.3 Payment of the vehicle is made under the agreed conditions and specified in point 4. I agree to pay the Seller the full and final payment of ` for the purchase of the vehicle in the manner specified in the agreement. 1.9 The terms of this contract are binding on both parties because of their respective conduct, regardless of errors or defects in the performance of this sales contract. PandaTip: It is not normal to include a warranty in a private sale, but if the seller wishes, you can change this clause if necessary. One suggestion might be: « The vehicle is sold with a guarantee of its ability to drive and continue to operate safely for a period of XXX months and any failures that occur during this period will be corrected at the seller`s expense, except for defects caused by the buyer. » PandaTip: Delete or change retail lines if necessary. 1.5 The title names of this Agreement are used only as a reference and are not part of the Agreement.
1.4 « Payment mode » refers to the method of payment agreed by both parties in accordance with Clause 4. 2.3 The seller guarantees that he is the true owner of the vehicle and that the vehicle was not stolen to the best of the seller and that there are no other circumstances of which the seller is aware that could reasonably influence the seller`s correct title on the vehicle. PandaTip: If there is more than one owner registered in the vehicle, you can use the « Search and Replace » feature to replace the word « seller » with « seller » (plural). All sellers must then sign on the execution page (signature). 2.10 Once the buyer has purchased the vehicle and the payment is cancelled, the seller is required to release the vehicle in the buyer`s possession. 3.8 The purchaser guarantees that he buys a used vehicle « as intended » and that he assumes responsibility for the vehicle with the sole exception of deliberately hidden errors, provided that it is received at the signing of this Contract. 1.7 If part or all of a clause is considered invalid or defective, only that clause is deemed null and void and the rest of the agreement remains enforceable. PandaTip: Change this clause based on the agreed payment method. For example, if the two parties agree on the planned payments: « The payment is made according to the following schedule: 01/01/2017 $100.00 (cash) 02/01/2017 $200.00 (to be paid by cheque) 03/01/2017 300,00 0 0 (to be paid by bank transfer) Other examples could be: « Cash payment of 10,000.00 USD in full » « Payment by bank transfer of 10,000.00 USD to account details XXXX Trircode XXXX » « Payment of the amount of 10,000.00 USD per cheque. » 2.7 The seller drew the buyer`s attention to the current defects of which he is sufficiently informed with the vehicle and that there are no deliberately hidden defects on the vehicle. PandaTip: You can insert a list of errors here if they are preferred, or you can introduce a clause stating that « these errors are more complete on the attached sheet » – add an additional page to the back of the contract with a list of agreed defects that must be signed by both parties.