TRACTOR SALE AGREEMENT
This Tractor Sale Agreement (this "Agreement") is made at __________ on __________.
BETWEEN
__________, of __________, mobile __________ (the "Seller");
AND
__________, of __________, mobile __________ (the "Buyer").
The Seller and the Buyer are each a "Party" and together the "Parties".
RECITALS
A. The Seller is the registered owner of the tractor described in Schedule I (the "Tractor").
B. The Seller has agreed to sell, and the Buyer has agreed to purchase, the Tractor together with the trolley and implements, if any, described in Schedule II, on the terms of this Agreement.
NOW THIS AGREEMENT WITNESSES as follows.
- SALE AND PRICE
1.1 The Seller sells and the Buyer purchases the Tractor described in Schedule I, together with the items described in Schedule II, for a total price of __________ (the "Sale Price"), free from every encumbrance except as disclosed in clause 3 below.
1.2 __________.
- CONDITION OF THE TRACTOR
2.1 The Buyer has inspected the Tractor, including a trial run, and takes it in the condition seen and in its present mechanical state, ordinary wear and tear excepted.
2.4 Except for what is disclosed under clause 2.3, the Seller gives no warranty as to the condition, fitness or performance of the Tractor, and the sale is otherwise on an as-is basis.
- TITLE AND EXISTING FINANCE
3.1 __________.
3.3 The Seller warrants that the Seller has good and marketable title to the Tractor, full power to sell it, and that except as disclosed above the Tractor is free from any hypothecation, lien, attachment or claim of any third party.
- ROAD TAX, INSURANCE AND CHALLANS
4.1 __________.
4.3 Save as disclosed under clause 4.2, the Seller is responsible for every challan, fine or liability arising from the use of the Tractor before delivery, and the Buyer is responsible for every such matter arising from its use after delivery, whether or not the transfer of registration has by then been completed.
- TAXES
5.1 __________.
- DELIVERY
6.1 The Seller shall deliver the Tractor, with the items in Schedule II, to the Buyer at __________ on __________, together with the registration certificate, the insurance policy, the pollution-under-control certificate then current, and the keys.
6.2 Risk in the Tractor passes to the Buyer on delivery. Until delivery the Seller shall keep the Tractor insured and shall bear the risk of loss or damage to it.
- TRANSFER OF REGISTRATION
7.1 __________, to be completed within __________ days of the date of delivery.
7.2 The transfer shall be made on Form 29 and Form 30 prescribed under the Central Motor Vehicles Rules, 1989, filed with __________ under s.50 of the Motor Vehicles Act, 1988. Each Party shall sign the forms, produce the documents and attend in person or through an authorised agent as the RTO requires, and shall not unreasonably delay the other.
7.3 Until the transfer of registration is completed, the Seller remains the registered owner of the Tractor for every purpose that depends on the RTO record, and the indemnity in clause 8 applies to that period.
- INDEMNITY
8.1 The Seller shall indemnify the Buyer against any claim, liability, fine or challan arising from the ownership or use of the Tractor before delivery, and against any loss the Buyer suffers because a fact about title, hypothecation or encumbrance disclosed under clause 3 or clause 4 was untrue.
8.2 The Buyer shall indemnify the Seller against any claim, liability, fine or challan arising from the use, possession or operation of the Tractor after delivery, including any period after delivery but before the transfer of registration is completed, and shall co-operate fully and promptly with the Seller in completing that transfer.
- DEFAULT
9.1 If any part of the Sale Price is not paid when due under clause 1, the Buyer shall pay the Seller interest on the overdue amount at __________ from the due date until payment, without prejudice to the Seller's other rights.
9.2 If the Buyer fails to complete payment of the Sale Price in full, the Seller may decline to deliver the Tractor, or, where delivery has already taken place, may treat the failure as a material breach and pursue recovery of the balance with interest as above; nothing in this clause authorises the Seller to retake possession of the Tractor otherwise than by agreement or through due process of law.
9.3 If the Party responsible for the transfer of registration under clause 7 fails to complete it within the period agreed, the other Party may complete it at the defaulting Party's cost and recover that cost from the defaulting Party.
- DISPUTE RESOLUTION AND GOVERNING LAW
10.1 __________.
10.2 The seat and venue of any arbitration under this Agreement, and the place of any court proceedings, is __________, and the courts at __________ have exclusive jurisdiction, subject to any arbitration agreed above.
10.3 This Agreement is governed by the laws of India as in force at the place of execution.
- GENERAL
11.1 This Agreement is the entire agreement between the Parties about the sale of the Tractor and supersedes all prior discussions.
11.2 No amendment is effective unless made in writing and signed by both Parties.
11.3 If any provision is held invalid or unenforceable, the rest of this Agreement continues in effect.
SCHEDULE I — THE TRACTOR
Make and model: __________
Registration number: __________
Chassis number: __________
Engine number: __________
Year of manufacture: __________
Registering RTO: __________
SCHEDULE II — TROLLEY AND IMPLEMENTS
IN WITNESS WHEREOF the Parties have executed this Agreement at __________ on __________.
SIGNED by the SELLER
__________
Signature: ______________________________
SIGNED by the BUYER
__________
Signature: ______________________________
WITNESSES
- __________
__________
Signature: ______________________________
- __________
__________
Signature: ______________________________