1. Parties: Identification of the finance company/dealer (Owner) and the customer (Hirer), including full legal names, addresses, and registration details
2. Background: Brief context of the transaction, including the parties' intention to enter into a hire purchase arrangement for the specified vehicle
3. Definitions: Definitions of key terms used throughout the agreement, including 'Vehicle', 'Hire Purchase Price', 'Deposit', 'Installments', etc.
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and registration details
5. Financial Terms: Details of the total hire purchase price, deposit amount, number and amount of installments, interest rate, and payment schedule
6. Payment Terms: Specifics of how and when payments should be made, including payment methods, due dates, and consequences of late payment
7. Delivery and Acceptance: Terms regarding the delivery of the vehicle and the hirer's acceptance of its condition
8. Title and Risk: Clarification that title remains with the owner until final payment, while risk passes to the hirer upon delivery
9. Hirer's Obligations: Responsibilities of the hirer including maintenance, insurance, proper use, and restrictions on sale or modification
10. Owner's Rights and Remedies: Owner's rights in case of default, including repossession rights and procedures
11. Insurance Requirements: Mandatory insurance requirements and specifications for coverage
12. Termination: Circumstances and procedures for early termination of the agreement
13. Governing Law: Specification that the agreement is governed by Nigerian law and subject to the Hire Purchase Act
14. Execution: Signature blocks and execution requirements for all parties
