Following a proper bill of sale template will ensure that while drafting a bill of sale, you do not make any errors that can make you liable for damages in the court of law in the future. In this article, we discuss the proper template for a bill of sale.
Whenever you purchase an item of high value you will be expected to sign a bill of sale. Understanding the proper template for a bill of sale is extremely important as it is a legal document that makes the agreement signed between the seller and purchaser binding. A bill of sale includes details about the two parties involved in the agreement and details about the item that is being purchased by the buyer. It will also have details like the date and the location at which the agreement was signed. It is a written document that serves as an evidence to the fact that the item has been transferred from one party to another. A bill of sale has to be acknowledged by a notary. Given in this article is a template and an example of a bill of sale that will enable you to understand how to format this legal document.
Template for a Bill of Sale
The bill of sale format given below will help you understand how a bill of sale needs to be drafted and what the important features that need to be constituents of a bill of sale are. Any bill of sale will always have details of both the buyer and the seller, and details of the product that is being sold. Along with a bill of sale, you also need to be familiar with a sales invoice template so that you can make the sales receipt as well. A bill of sale once signed is a legally binding document between the two parties and therefore it is important that the terms and conditions are agreed upon by everyone concerned.
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BILL OF SALE
This Agreement is signed between – The Purchaser Full Name: ______________________________________________ Occupation: _____________________________________________ Address: ________________________________________________ Proof of Identity: __________________________________________ and The Seller Full Name: ______________________________________________ Occupation: _____________________________________________ Address: ________________________________________________ Proof of Identity: __________________________________________ The goods/product/services that the purchaser is buying from the seller is/are ______________________ Details of the Goods/Products/Services Terms and Conditions of the Agreement
Under this section will be all the terms and conditions as agreed upon by both the buyer and the seller, listed according to the importance of the condition. These terms are legally binding. These terms and conditions will also define the purchasing price of the goods or services being sold. This agreement is agreed upon and signed in the presence of witnesses at _____________ on _____ day of __________ 20____. Seller: Signature Witness: Signature Purchaser: Signature Witness: Signature Acknowledgment of Notary Public This agreement was signed and acknowledged in my presence on _____ day of __________ 20____ by Seller’s name and Purchaser’s name. Signature of Notary Public: ______________________ |
Sample for Bill of Sale
If you have not understood how to draft a bill of sale even after going through the format for a bill of sale given above, then you can go through this bill of sale example. This will help elucidate a sales receipt template enabling you to frame your own bill of sale.
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BILL OF SALE
This Agreement is signed between – The Purchaser Full Name: Hailey Andre Occupation: Businesswoman Address: Proprietor, Green Solutions, 432 – Elm Street, New York – 695487 Proof of Identity: Driver’s License ID – 945 730 712, Driver’s License Number – 89479230 and The Seller Full Name: Nathan Quinn Occupation: Businessman Address: Proprietor, Quinn Motors, 3490 – Bayer Boulevard, New York – 695489 Proof of Identity: Driver’s License ID – 345 454 832, Driver’s License Number – 49647695 The goods/product/ services that the purchaser is buying from the seller is a Ford Fusion Sedan Details of the Goods/Products/Services
Terms and Conditions of the Agreement
I hereby acknowledge the receipt of USD 12,000 in the form of cash from Hailey Andre, as complete payment for the purchase of the vehicle that has been described above, which is sold “AS IS”. I hereby state that the mileage of the vehicle at the time of sale is 2435 miles. I do hereby grant, sell, and transfer full ownership of this vehicle to the buyer. I certify that this vehicle, at the time of sale, is free from any encumbrance, taxes, fees, and liens except as those specified on the Title or listed below; and that, I (Seller) will defend and be held fully responsible for such lawful claims and demands with respect to the vehicle, if any. The purchase accepts full liability for the vehicle, damages, and any third party liability incurred from the use of the vehicle from the date of sale. If applicable, the Seller agrees to make arrangements for the transfer of the vehicle title from the lien holder to the purchaser with immediate effect. This agreement is agreed upon and signed in the presence of witnesses at Quinn Motors, 3490 – Bayer Boulevard, New York – 695489 on the 6th day of June 2010. Seller: Signature Witness: Signature Purchaser: Signature Witness: Signature Acknowledgment of Notary Public This agreement was signed and acknowledged in my presence on 6th day of June 2010 by Nathan Quinn and Hailey Andre. Signature of Notary Public: Signature |
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A proper template will ensure that you draft this legal document with utmost care and are not liable for any legal complication that may arise later on. It represents a form of security that protects both the buyer and the seller from future hassles and ramifications.
