Proforma Invoice Template Ups – The bill of sale is a critical legal document because; it not only assists in protecting the interests of the seller but also that of the purchaser as well. It’s common and sadly, a common occurrence where a seller or the purchaser arrives to attempt because of deliberate fraud in a market trade.
The bill of sale template should include all of the basic details including private information with respect to both the seller and the purchaser. It should also clearly emphasize information and details regarding the asset or the property in question that is being offered for sale. Legally speaking, the purchaser and the seller will have to provide all essential information. For example: their name(s), street addresses and current contact numbers.
Other Crucial Areas,Providing a detailed description of this property that’s being offered for sale is also a very important requirement. In case the property comprises more than state one item or an attachment like in the event of mechanical gear, or perhaps a group of products or items, these too should be clearly documented in the bill of sale. These extra items that are to form part of the sale have to be clearly itemized. By doing so will avoid any misunderstandings from arising and remove any possible confusion occurring between both parties. Additionally, it is a good thing to include all of the details and information concerning the terms and conditions directly related to the selling of the property. However, if the selling of land was transacted based on a lien or mortgage or another authority transfer, then it may be required to specify and deal with these problems as well in the document.
Equally as important, are many different issues which have to be kept close in your mind if you are the seller, and before you actually go ahead and duly date and sign the document. Thus, it is vital for you to make sure that the property or the motor vehicle, ship, gear, etc., are without question, legally possessed by you. Entering into a legal document and understanding that it incurs a lien or an outstanding mortgage (and not revealing this information to the purchaser in the record ) is illegal and carries severe penalties under law. It is also wise to have the bill of sale seen by someone aside from a friend or close relative.