The Terms and Conditions Bill of Sale is a crucial document in Malaysian commercial transactions, designed to formalize the sale of goods while establishing comprehensive terms and conditions governing the transaction. This document is typically used when there is a need to provide clear evidence of the transfer of ownership while simultaneously setting out detailed terms of the sale. It complies with Malaysian legislation, including the Contracts Act 1950 and Sale of Goods Act 1957, making it suitable for both business-to-business and business-to-consumer transactions. The document includes essential information such as party details, goods description, purchase price, payment terms, warranties, and delivery arrangements, serving as both a legal record of the sale and a binding agreement between parties.
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1. Parties: Identification and details of the seller and buyer, including full legal names, registration numbers (if companies), and addresses
2. Background: Context of the sale and brief description of the transaction purpose
3. Definitions: Definitions of key terms used throughout the document
4. Subject Matter of Sale: Detailed description of the goods being sold
5. Purchase Price: The agreed price and payment terms
6. Transfer of Title: Terms regarding the transfer of ownership from seller to buyer
7. Seller's Representations and Warranties: Warranties about ownership, condition, and quality of goods
8. Buyer's Acknowledgments: Buyer's confirmation of inspection and acceptance of goods condition
9. Delivery: Terms and conditions for delivery of goods
10. Risk and Insurance: Transfer of risk and insurance requirements
11. Governing Law: Specification of Malaysian law as governing law
12. Execution: Signature blocks and execution requirements
1. Condition of Goods: Detailed description of goods condition, used for used or pre-owned items
2. Intellectual Property Rights: For sales involving goods with associated IP rights
3. Installation and Training: For complex equipment requiring setup or training
4. Maintenance and Support: For goods requiring ongoing maintenance
5. Export/Import Requirements: For international sales requiring specific documentation
6. Security Interest: For sales involving retained security interest or installment payments
7. Third-Party Rights: When third parties have interests in the goods
8. Dispute Resolution: Alternative dispute resolution procedures if desired
1. Schedule A - Description of Goods: Detailed technical specifications and inventory of goods
2. Schedule B - Payment Schedule: If payment is to be made in installments
3. Schedule C - Delivery Schedule: For multiple delivery dates or complex delivery arrangements
4. Schedule D - Warranties and Guarantees: Detailed warranty terms and conditions
5. Schedule E - Maintenance Requirements: Maintenance specifications and schedules if applicable
6. Appendix 1 - Photographs: Visual documentation of goods condition
7. Appendix 2 - Certificates: Relevant certificates of ownership, quality, or compliance
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