How To Write A Mini – Bus Hire Purchase Agreement: Many persons want to go into getting a Mini bus for their businesses but how to write purchase agreement with the owner of the Mini – bus is always an issue. In a place like Nigeria, it is very essential to go into an agreement with someone who accepts to get involve in this kind of negotiation.
This article will guide you on how to write a Mini – Bus hire purchase agreement with the owner of the Mini – Bus.
Without wasting much time, lets quickly go into showing you how to write the purchase agreement.
HOW TO WRITE A MINI – BUS HIRE PURCHASE AGREEMENT
Firstly, the write up starts with stating the day and the year of the agreement.
Example: This Mini – Bus hirer purchase agreement is made this……………….. Day of …………………………20….(year).
Then, you state clearly the details of the owner of the mini – bus and the Buyer/Driver, starting with its full name, village, local government, state and country.
See example below;
BETWEEN
Name of the Owner of village in Local Government Area of State hereinafter referred to as “THE OWNER” Which expression shall where the context so admits include his heir/heirs, successors, administrators, executors and assigns) of the first part.
AND
Name of the buyer, from village in Local Government Area of State hereinafter referred to as “THE DRIVER” which expression shall where the context so admits include his heir/heirs, successors, administrators, executors and assigns) of the second part.
After stating out the details of the owner and the buyer, you move on to give the details of the Mini Bus, which includes: The colour, Registration no., Chasis no. and Engine no.
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WHEREAS
- Name of the Owner is the bonafide owner of MINI – BUS (Orange Colour) with registration No……………………, Engine No: …………………… and CHASIS No…………………………………… with all particulars renewed up to date.
- The owner now decides to pledge out the said MINI – BUS on hire purchase at the rate of amount of money to be paid.
- The “DRIVER(buyer)” having had some mutual understandings with the “OWNER” now decides to engage himself and also agrees to pay to the “OWNER” the sum of amount of money paid per week (preferably) on every Sunday.
This next part will now involve bringing in the witness(es)
See example below;
NOW THIS MINI – BUS HIRE PURCHASE AGREEMENT WITNESS AS FOLLOWS:
- In consideration of the terms aforementioned between the OWNER and the Driver, the driver shall commence his engagement from ………………… and ends on ……………………… which the said (put in the amount of money paid for the mini – bus) shall be completed (precisely) (put in the duration of the agreement) e.g: 119 weeks Two years and Two and a Half months duration.
- That the Driver shall pay, as agreed on (put in the payment days/dates) e.g: every Sunday of the week the sum of (Amount to be paid) to the owner weekly devoid of any reduction.
- That the driver(buyer) shall undertake the repairs both minor and major of the said Mini – Bus to a good motorable condition without calling on the owner and also take good diligence on the said tricycle.
- That whereby there is a default in payment without a prior clearance from the owner, at least two weeks, the owner shall be entitled and authorized to retrieve the said Mini – Bus from the Driver(buyer) without any hesitation whatsoever notwithstanding the payments made.
- That upon the completion of the (amount to be paid) on or before the above stated dateline, the OWNER shall hand over the “MINI – BUS” with all the original particulars to the
“DRIVER(buyer)” and the said MINI – BUS shall become the property of the “DRIVER(buyer)” without any interference from the “OWNER” whatsoever.
- That in the case of negligence of the “DRIVER(buyer)” and the said MINI – BUS engages in accident or loss, the “DRIVER” shall replace same and still pay the agreed amount to the “OWNER”
- The “DRIVER(buyer)” shall bring two recent passports photographs and a guarantor who will give assent to him, and this shall be viewed by the “OWNER’S” attorney
- That once this payment is completed on or before the duration period given and the handing over is done between the “OWNER” and the “DRIVER” (buyer) this agreement is bound to be terminated without prejudice to both parties.
How to Write Rent a MINI – BUS
The last part of the agreement here, now involves stating out the name and other details of the witnesses, like address, phone number, occupation and lastly a signature from each of the witnesses, both for the owner and the buyer of the Mini – bus. All these, will finally be sealed with the signature of a Lawyer.
See example below;
IN WITNESS WHEREOF, BOTH PARTIES have hereunto set their hands and affixed their seal the day and the year above written.
SIGNED, SEALED AND DELIVERED BY THE WITHIN NAMED “OWNER”
…………..……………………………
Name of the Owner
IN THE PRESENCE OF:
Name: ……………………………………….
Address: …………………………………….
Occupation: …………………………………
Signature: ……………………………………
SIGNED, SEALED AND DELIVERED BY THE WITHIN NAMED “DRIVER”
…………..……………………………
Name of the Driver
IN THE PRESENCE OF:
Name: ……………………………………….
Address: …………………………………….
Occupation: …………………………………
Signature: ……………………………………
PREPARED BY
Lawyer’s name and other details like chamber address and phone number.
I hope with this, one can professionally write a sales agreement between the seller and the buyer.
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