Sale contract (vehicle or equipment) template

Sale Contract (Vehicle or Equipment)

Contract no.: Contract number

Date: Contract date

Place: City of signing

Parties

First Party (Seller): First party name, national ID / iqama no. First party ID, national address: First party address, e-mail: First party e-mail, mobile: First party mobile.

Second Party (Buyer): Second party name, national ID / iqama no. Second party ID, national address: Second party address, e-mail: Second party e-mail, mobile: Second party mobile.

Article 1: Recitals and definitions

1.1 Whereas the Seller owns the item below, and the Buyer wishes to buy it, the parties agree as follows.

1.2 The recitals and schedules form an integral part of this Contract and are read with it. In a conflict, this Contract prevails, then the schedules in numerical order.

1.3 "Business Day" means any day other than Friday, Saturday and an official holiday in the Kingdom of Saudi Arabia. "Laws" means the laws and regulations in force in the Kingdom.

1.4 Each party confirms that it has legal capacity to contract, that its signatory is authorised, and that entering into this Contract breaches no other obligation binding on it.

Article 2: The item

| Item | Details |

| --- | --- |

| Item type | Item type |

| Make, model and year | Make, model and year |

| Plate, chassis or serial no. | Plate or chassis no. |

| Odometer | Odometer |

2.1 The Seller confirms that it owns the item and may sell it, free of any pledge, seizure or third-party right, except as stated here: Rights over the item.

2.2 The parties confirm that inspection took place on Inspection date and the Buyer has seen the visible condition. This does not remove the warranty for hidden defects it did not know of, unless otherwise agreed within the Laws: Exclusion of defects.

Article 3: Price and payment

3.1 Price: SAR Total contract value (in words: Value in words), a fixed known sum that does not change after signing.

| Payment | Amount | When due |

| --- | --- | --- |

| On signature | Advance payment | Today |

| On transfer | Balance of price | Transfer date |

3.2 Payment is to IBAN IBAN, account name Account holder, bank Bank name, or in any way that proves payment; the Seller gives a receipt for each sum.

3.3 Value added tax applies where the Seller is liable for it.

Article 4: Delivery and transfer of title

4.1 For a vehicle: ownership transfers through Absher or traffic on Transfer date, after the periodic inspection, insurance and paying fines; fines before the transfer date are on the Seller.

4.2 Delivery is at Delivery place on Delivery date, by a report. Risk passes on actual delivery. Transport and transfer fees are on: Who pays fees.

Article 5: Warranty

5.1 The Seller warrants hidden defects that existed before the sale if told within Defect notice of their appearance; the Buyer may return the item or claim the reduction in value.

5.2 The warranty excludes misuse or accidents after delivery; manufacturer warranties and consumer rights apply under the Laws.

Article 6: Breach and termination

6.1 If a party commits a material breach and does not cure it within Repair time days of notice, the other may terminate or enforce, with compensation for actual loss.

6.2 On termination each party is restored: the Seller returns the price and the Buyer the item, taking account of what was reduced or lost through fault.

Article 7: Representations and warranties

7.1 The Seller and the Buyer each confirm the following at signing, and shall tell the other at once if any of it changes:

• the details and documents it has provided are true and complete on everything affecting the other's decision, and it has hidden nothing it knows to be material.

• no claim, seizure, disposal ban, bankruptcy or legal bar prevents performance of this Contract.

• the source of funds and purpose of contracting are lawful, and this Contract is no cover for any prohibited dealing.

• it holds the licences, approvals and legal capacity needed to sign and perform this Contract, and will keep them valid throughout.

7.2 An untrue material statement is a breach of this Contract, subject to its terms and the Civil Transactions Law; deliberately misleading information is deceit that allows annulment and compensation to be sought.

Article 8: Liability and compensation

8.1 Each party answers for direct loss it causes the other or a third party through its fault, or that of its people or anyone it allows to use the subject of this Contract. The injured party gives notice within Damage notice days of learning of it.

8.2 Neither party answers for loss of profit or indirect loss, and its liability does not exceed the total value of this Contract for its term, except for deceit, gross error or a harmful act.

8.3 No limit or exclusion of liability in this Contract applies to deceit, gross error or loss from a harmful act, under the Civil Transactions Law, and none affects statutory rights that cannot be waived, including consumer rights.

Article 9: Breach and its effects

9.1 A breach notice is in writing, states the obligation breached, what is needed to cure it and a reasonable time of at least 15 days, unless this Contract sets another period. No notice is needed if cure is impossible or the party at fault has said it will not perform.

9.2 Each party may withhold its corresponding obligation that has fallen due if the other has not performed its own, unless that would run against good faith or the failure is minor, under the Civil Transactions Law.

9.3 The injured party shall make reasonable efforts to limit its loss and is not compensated for what it could have avoided. Compensation follows proved loss. Nothing is charged as compensation or increase merely for lateness in paying a sum of money, and the actual costs awarded by the competent authority may be claimed.

9.4 On termination the parties are restored as far as possible, each answering for what it actually benefited from. This Contract does not affect statutory limitation periods or the terms that survive its end by their nature.

Article 10: Documents, correspondence and proof

10.1 Each party keeps a copy of this Contract, its schedules, payment receipts and handover reports for at least 5 years after it ends, or any longer statutory period.

10.2 Correspondence through the e-mail or mobile at the head of this Contract, and approved government platforms, is proof where it can be attributed to its sender, under the Electronic Transactions Law and the Evidence Law. Nothing said orally changes this Contract.

10.3 The party receiving money gives a receipt for each sum, stating what it covers. No payment is a final release unless that is stated in writing.

Article 11: Personal data protection

11.1 The parties shall comply with the Personal Data Protection Law and its regulations in respect of the personal data they exchange for the purpose of this Contract. Neither party shall use it for any other purpose or disclose it except with the data subject's consent or as the law requires.

Article 12: Force majeure and exceptional circumstances

12.1 A party is not liable for delay or failure caused by an event beyond its control that was unforeseeable and unavoidable, provided it notifies the other within 7 days and makes reasonable efforts to limit the effect. Force majeure does not excuse paying what fell due before it occurred.

12.2 Affected obligations are suspended for the duration. If the event lasts more than 60 days, either party may terminate by written notice, with payment for work actually performed.

12.3 If unforeseeable general exceptional circumstances make performance so onerous as to threaten a heavy loss, the affected party may request renegotiation without delay while continuing to perform, as provided by the Civil Transactions Law.

Article 13: General provisions

13.1 Notices are in writing and sent to the addresses at the head of this Contract; the registered e-mail is valid, and a notice counts as received on the next Business Day. Each party shall report any change of address.

13.2 Neither party may assign this Contract or subcontract without the other's prior written approval, and it remains responsible for its subcontractors.

13.3 Delay in using a right does not waive it, and this Contract changes only by a signed written annex. If a provision is void the rest stays in force, unless that provision was the reason for contracting.

13.4 The parties shall comply with the rules against bribery, corruption and money laundering. Neither is the agent, partner or employer of the other, and each bears the obligations of its own staff.

13.5 This Contract may be signed electronically under the Electronic Transactions Law, and electronic signatures and records have their legal force. It is made in two copies, one for each party.

Article 14: Governing law and disputes

14.1 This Contract is governed by the laws of the Kingdom of Saudi Arabia, including the Civil Transactions Law, and in a manner consistent with Islamic Sharia.

14.2 The parties shall try to settle any dispute amicably through their representatives within 30 days of notice, and may then use conciliation through the Taradhi platform.

14.3 If it remains unresolved, it shall be decided by: Forum: the competent courts in the city of ... / arbitration under the rules of the Saudi Center for Commercial Arbitration, seated in .... The parties shall keep performing whatever the dispute does not affect.

14.4 Where made in Arabic and English, the Arabic text prevails in any difference.

Schedules

• Schedule 1: description, photos and ownership documents of the item.

Signatures

The parties sign this Contract after reading and accepting all of its terms.

| First Party (Seller) | Second Party (Buyer) |

| --- | --- |

| Name: First party name | Name: Second party name |

| Signature: First party signature | Signature: Second party signature |

| Date: Signing date | Date: Signing date |

| First witness | Second witness |

| --- | --- |

| Name: First witness name | Name: Second witness name |

| ID: First witness ID | ID: Second witness ID |

| Signature: First witness signature | Signature: Second witness signature |