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Conditional Deed Of Sale Of Motor Vehicle
"I need a Conditional Deed of Sale of Motor Vehicle for the sale of a fleet of 5 Toyota Camry vehicles to a corporate buyer in Riyadh, with the sale conditional upon successful vehicle inspections and staged payments to be completed by March 2025."
1. Parties: Identification of the Seller and Buyer with full legal names, ID numbers, and contact details as required by Saudi regulations
2. Background: Context of the sale and statement of parties' intention to enter into a conditional sale agreement
3. Definitions: Key terms used in the agreement including 'Vehicle', 'Completion Date', 'Conditions', 'Purchase Price', etc.
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN, registration number, and current odometer reading
5. Sale and Purchase: Core agreement to sell and purchase the vehicle subject to conditions
6. Purchase Price: Agreed price, payment terms, and payment method in compliance with Sharia principles
7. Conditions: Specific conditions that must be met for the sale to complete, including timeframes
8. Seller's Warranties: Warranties regarding vehicle ownership, condition, and absence of encumbrances
9. Transfer of Title: Process and requirements for transferring vehicle ownership through official channels
10. Risk and Insurance: Responsibility for vehicle insurance and risk allocation before and after completion
11. Governing Law: Confirmation that Saudi law and Sharia principles govern the agreement
12. Execution: Signature blocks and execution requirements
1. Inspection Period: Used when buyer requires a specific period to inspect and test the vehicle before conditions are met
2. Financing Arrangements: Include when purchase involves third-party financing or installment payments
3. Maintenance During Conditional Period: Added when there's an extended period before completion to specify responsibility for vehicle maintenance
4. Return Conditions: Include when specific conditions for return of the vehicle if sale doesn't complete need to be detailed
5. Dispute Resolution: Optional detailed dispute resolution process beyond standard court jurisdiction
6. Force Majeure: Include when parties want specific provisions for unforeseen circumstances affecting completion
7. Third Party Approvals: Used when sale is conditional on specific third party approvals or documentation
1. Vehicle Specification: Detailed technical specifications and features of the vehicle
2. Vehicle Condition Report: Current condition assessment and noted defects or damage
3. Payment Schedule: If payment is in installments, detailed payment dates and amounts
4. Required Documentation: List of all documents required for transfer of ownership
5. Vehicle History: Service history, previous ownership, and accident history if available
6. Insurance Details: Specific insurance requirements and current insurance documentation
Authors
Automotive
Transportation
Fleet Management
Vehicle Leasing
Automotive Retail
Insurance
Financial Services
Legal Services
Corporate Services
Private Transportation
Legal
Procurement
Sales
Compliance
Risk Management
Fleet Management
Operations
Finance
Administration
Documentation
Legal Counsel
Fleet Manager
Procurement Manager
Sales Manager
Contracts Administrator
Compliance Officer
Risk Manager
Vehicle Fleet Administrator
Corporate Secretary
Legal Administrator
Business Development Manager
Operations Manager
Finance Manager
Administrative Officer
Documentation Specialist
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