Vehicle As Is Sales Agreement

Vehicle As Is Sales Agreement Template for Hong Kong

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Key Requirements PROMPT example:

"I need a Vehicle As Is Sales Agreement for selling my personal Toyota Camry to a private buyer in Hong Kong, with an expected completion date of March 15, 2025, and I want to ensure I'm protected from any future claims about the vehicle's condition."

Document background

The Vehicle As Is Sales Agreement is essential for documenting the sale of vehicles in Hong Kong where the seller wishes to transfer the vehicle in its current condition without providing warranties beyond those legally required. This document is commonly used in both private sales and commercial transactions, particularly in the used vehicle market. It includes comprehensive details about the vehicle's condition, known defects, and maintenance history, while explicitly stating the 'as is' nature of the sale. The agreement ensures compliance with Hong Kong's legal requirements, including the Sale of Goods Ordinance, Road Traffic Ordinance, and Motor Vehicles Insurance (Third Party Risks) Ordinance. It's designed to protect both parties by clearly documenting the terms of sale, condition of the vehicle, and transfer procedures specific to Hong Kong's regulatory framework.

Suggested Sections

1. Parties: Identification and details of the seller and buyer, including full names, addresses, and contact information

2. Background: Brief context of the sale and confirmation that the vehicle is being sold 'as is'

3. Definitions: Key terms used throughout the agreement, including 'Vehicle', 'Purchase Price', 'As Is', 'Completion Date'

4. Sale and Purchase: Core terms of the transaction, including the agreement to sell and purchase the vehicle 'as is'

5. Purchase Price and Payment: Details of the purchase price, payment method, and payment schedule if applicable

6. Vehicle Condition and Inspection: Detailed acknowledgment of the 'as is' condition and buyer's inspection rights/responsibilities

7. Seller's Representations: Limited warranties about ownership, authority to sell, and known material defects

8. Buyer's Acknowledgments: Explicit acceptance of the vehicle's condition and waiver of claims for known and unknown defects

9. Transfer of Title: Process and requirements for transferring vehicle ownership

10. Completion: Details of the completion process, including timing, location, and documentation requirements

11. Governing Law: Specification of Hong Kong law as governing law and jurisdiction

Optional Sections

1. Trade-In Vehicle: Used when the buyer is trading in another vehicle as part of the purchase

2. Finance and Security: Required when there's a loan or financing arrangement involved

3. Insurance Arrangements: Details of insurance transfer or new insurance requirements if specifically arranged between parties

4. Outstanding Loans: Required when the vehicle has existing loans that need to be discharged

5. Post-Sale Services: Optional arrangements for any agreed post-sale services or support

6. Broker/Agent Details: Required when a broker or agent is involved in the transaction

Suggested Schedules

1. Schedule 1 - Vehicle Details: Comprehensive details of the vehicle including make, model, year, VIN, registration number, and known history

2. Schedule 2 - Vehicle Condition Report: Detailed report of the vehicle's current condition, including known defects and maintenance history

3. Schedule 3 - Required Documents: List of all documents required for the transfer, including registration, insurance, and maintenance records

4. Schedule 4 - Payment Schedule: If payment is in installments, detailed breakdown of payment amounts and dates

5. Appendix A - Vehicle Inspection Report: Third-party inspection report if conducted

6. Appendix B - Photographs: Dated photographs of the vehicle documenting its condition at the time of sale

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Automotive

Transportation

Retail

Financial Services

Insurance

Fleet Management

Vehicle Leasing

Used Vehicle Sales

Relevant Teams

Sales

Legal

Compliance

Finance

Operations

Administration

Risk Management

Documentation

Vehicle Inspection

Business Development

Relevant Roles

Sales Manager

Fleet Manager

Automotive Sales Representative

Vehicle Broker

Compliance Officer

Legal Counsel

Finance Manager

Insurance Coordinator

Operations Manager

Administrative Officer

Vehicle Inspector

Documentation Specialist

Business Development Manager

Risk Manager

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