Essential Things to Know Before Signing a Truck Sales Contract

Mr. Ba, owner of a small grocery store in Hanoi’s Old Quarter, saved for years to buy a used truck for his business. Overwhelmed with excitement, he hastily signed the sales contract without careful review. Unfortunately, the truck turned out to have questionable ownership and improper documentation, leaving Mr. Ba in a difficult situation. Mr. Ba’s story serves as a cautionary tale for those purchasing vehicles, especially trucks. So, what are the essential things to consider in a truck sales contract? Let’s explore with Xe Tải Hà Nội!

Regulations on Truck Sales Contracts

General Introduction

A truck sales contract is a legal document that records the agreement between the seller and the buyer regarding the transfer of vehicle ownership. This contract must comply with the Civil Code 2015, the Law on Civil Transactions 2014, and other relevant legal documents.

Main Contents of the Contract

A comprehensive truck sales contract should include the following information:

• Buyer and Seller Information: Full name, address, ID card/Citizen ID number, phone number, etc.
• Vehicle Information: Vehicle type, brand, chassis number, engine number, year of manufacture, color, etc.
• Sale Price: Clearly stated in both numerical and written form, including VAT (if applicable).
• Payment Method: Cash, bank transfer, or other methods.
• Vehicle Delivery Date: Specify the date, time, and location for vehicle handover.
• Seller’s Responsibilities: Providing complete vehicle documents, ensuring clear title and no disputes, etc.
• Buyer’s Responsibilities: Timely payment, receiving the vehicle at the agreed upon time, etc.
• Other Terms: Warranty, penalties for breach of contract, etc.

A man signing a car sales contract with a pen in his hand. The car is in the background.