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VEHICLE SALE AND WARRANTY TRANSFER AGREEMENT
This Vehicle Sale and Warranty Transfer Agreement legally documents the sale of a used vehicle and clarifies the status and transfer of any remaining manufacturer or extended warranty from the Seller to the Buyer in Nigeria. It serves as a crucial private contract to establish terms and prevent future disputes regarding the vehicle's condition and warranty coverage.
1. PARTIES
This Vehicle Sale and Warranty Transfer Agreement ("Agreement") is made and entered into on this [AGREEMENT DATE] day of [AGREEMENT MONTH], [AGREEMENT YEAR] ("Effective Date"), BETWEEN:
1. SELLER:
Name: [SELLER'S FULL NAME]
Address: [SELLER'S ADDRESS]
Phone Number: [SELLER'S PHONE NUMBER]
Email Address: [SELLER'S EMAIL ADDRESS]
National Identification Number (NIN): [SELLER'S NATIONAL IDENTIFICATION NUMBER (NIN)]
(hereinafter referred to as "the Seller")
AND
2. BUYER:
Name: [BUYER'S FULL NAME]
Address: [BUYER'S ADDRESS]
Phone Number: [BUYER'S PHONE NUMBER]
Email Address: [BUYER'S EMAIL ADDRESS]
National Identification Number (NIN): [BUYER'S NATIONAL IDENTIFICATION NUMBER (NIN)]
(hereinafter referred to as "the Buyer")
The Seller and Buyer are hereinafter collectively referred to as "the Parties" and individually as "a Party".
2. VEHICLE DESCRIPTION
The Seller agrees to sell and the Buyer agrees to purchase the following used motor vehicle (hereinafter referred to as "the Vehicle"):
Make: [VEHICLE MAKE]
Model: [VEHICLE MODEL]
Year of Manufacture: [YEAR OF MANUFACTURE]
Color: [VEHICLE COLOR]
Vehicle Identification Number (VIN) / Chassis Number: [VEHICLE IDENTIFICATION NUMBER (VIN) / CHASSIS NUMBER]
Engine Number: [ENGINE NUMBER]
Current Registration Number (Plate Number): [CURRENT REGISTRATION NUMBER (PLATE NUMBER)]
Current Odometer Reading: [CURRENT ODOMETER READING (KM)] km
Engine Capacity: [ENGINE CAPACITY]
Fuel Type: [FUEL TYPE]
3. SALE PRICE AND PAYMENT
The total sale price for the Vehicle is the sum of
₦[SALE PRICE (₦)] ([SALE PRICE (WORDS)] Naira Only).
The Buyer shall pay the Seller the full sale price as follows:
[PAYMENT METHOD]
The payment shall be made on or before [PAYMENT DATE].
4. WARRANTY DISCLOSURE AND TRANSFER
4.1. Manufacturer/Extended Warranty Disclosure: The Seller hereby declares that the Vehicle ([DOES THE VEHICLE HAVE A REMAINING WARRANTY? (TYPE 'DOES' OR 'DOES NOT')]) have a remaining manufacturer's warranty or an extended warranty.
4.2. Warranty Details (if applicable): If the Vehicle has a remaining warranty, the Seller provides the following details to the best of their knowledge:
a. Warranty Provider/Manufacturer: [WARRANTY PROVIDER/MANUFACTURER (IF APPLICABLE)]
b. Type of Warranty: [TYPE OF WARRANTY (IF APPLICABLE)]
c. Original Purchase Date of Vehicle: [ORIGINAL PURCHASE DATE OF VEHICLE (IF APPLICABLE)]
d. Estimated Remaining Warranty Period: [ESTIMATED REMAINING WARRANTY PERIOD (IF APPLICABLE)] (e.g., months/years or km)
e. Components Covered: [COMPONENTS COVERED BY WARRANTY (IF APPLICABLE)]
f. Known Exclusions/Limitations: [KNOWN EXCLUSIONS/LIMITATIONS OF WARRANTY (IF APPLICABLE)]
g. Transferability: The Seller confirms that this warranty ([IS THE WARRANTY TRANSFERABLE? (TYPE 'IS' OR 'IS NOT')]) transferable to a subsequent owner.
h. Transfer Requirements/Fees: If transferable, the Buyer acknowledges that any transfer may be subject to the original warranty provider's terms, conditions, and potential transfer fees, which shall be the responsibility of [PARTY RESPONSIBLE FOR TRANSFER FEES (IF APPLICABLE, E.G., BUYER/SELLER)] (e.g., Buyer/Seller).
4.3. Seller's Confirmation: The Seller confirms that they are not aware of any actions or omissions that would void the remaining warranty, nor any known defects that would prevent the Buyer from claiming under the warranty, other than those explicitly disclosed in this Agreement.
4.4. Buyer's Acknowledgment: The Buyer acknowledges that they have received and understood the warranty information provided by the Seller and understands that the actual transfer and validity of any manufacturer or extended warranty are ultimately governed by the terms and conditions of the original warranty provider. The Buyer agrees to undertake any necessary steps to formally transfer the warranty with the manufacturer or provider.
5. CONDITION OF VEHICLE
5.1. "As Is" Sale: The Buyer acknowledges and agrees that, except for any explicit warranty disclosed in Section 4 and the Seller's representations in Section 6, the Vehicle is sold "AS IS, WHERE IS" with all faults and without any further warranties or guarantees, either expressed or implied, from the Seller regarding its condition, fitness for a particular purpose, or merchantability.
5.2. Known Defects: The Seller discloses the following known defects or issues with the Vehicle, if any: [KNOWN VEHICLE DEFECTS (IF ANY)]. The Buyer acknowledges awareness of these defects.
5.3. Inspection: The Buyer confirms that they have had the opportunity to inspect the Vehicle, either personally or through an agent, and is satisfied with its condition.
6. REPRESENTATIONS AND WARRANTIES OF SELLER
The Seller represents and warrants to the Buyer that:
a. Ownership: The Seller is the sole legal and beneficial owner of the Vehicle and has the full legal right and authority to sell and transfer ownership of the Vehicle to the Buyer.
b. Clear Title: The Vehicle is free and clear of all liens, charges, encumbrances, security interests, and any other claims whatsoever, except for those explicitly disclosed in writing to the Buyer prior to the signing of this Agreement.
c. Accuracy of Information: All information provided by the Seller regarding the Vehicle, including its description, odometer reading, and warranty status, is true, accurate, and complete to the best of the Seller's knowledge and belief.
d. Compliance: The Seller has complied with all applicable laws and regulations regarding the Vehicle up to the Effective Date, including but not limited to, payment of all applicable taxes and duties.
e. No Undisclosed Defects: The Seller has disclosed all known material defects, faults, or issues concerning the Vehicle that could reasonably affect its value or safety, other than normal wear and tear for a vehicle of its age and mileage.
7. REPRESENTATIONS AND WARRANTIES OF BUYER
The Buyer represents and warrants to the Seller that:
a. Financial Capability: The Buyer has the financial capacity to purchase the Vehicle and make payment as stipulated in Section 3 of this Agreement.
b. Due Diligence: The Buyer has conducted their own due diligence, including inspection of the Vehicle and verification of documents, and is satisfied with the Vehicle's condition and all aspects of the transaction.
c. Legal Capacity: The Buyer has the legal capacity to enter into this Agreement and perform their obligations hereunder.
8. TRANSFER OF OWNERSHIP AND DOCUMENTS
8.1. Handover of Vehicle: Upon full payment of the Sale Price, the Seller shall deliver physical possession of the Vehicle to the Buyer at [VEHICLE DELIVERY LOCATION] on [VEHICLE DELIVERY DATE].
8.2. Document Handover: Simultaneously with the delivery of the Vehicle or as otherwise agreed, the Seller shall provide the Buyer with all original documents related to the Vehicle necessary for the transfer of ownership, including but not limited to:
a. Original Proof of Ownership Certificate (Vehicle Logbook)
b. Original Customs Papers (for imported vehicles)
c. Roadworthiness Certificate (if current)
d. Insurance Policy (if applicable and transferable)
e. Police Report / Central Motor Registry (CMR) Clearance (if required)
f. Form MVA 5 (Notification of Change of Ownership) duly signed by the Seller.
8.3. Change of Ownership Process: The Buyer shall be responsible for completing the official change of ownership process with the relevant Motor Vehicle Administration Agency (MVAA), Vehicle Inspection Office (VIO), or Federal Road Safety Corps (FRSC) within the stipulated timeframe (typically 30 days) from the Effective Date. The Seller agrees to cooperate reasonably with the Buyer in this process.
9. RISK OF LOSS
Risk of loss or damage to the Vehicle shall pass from the Seller to the Buyer upon the Buyer taking physical possession of the Vehicle, whether or not the official change of ownership has been completed.
10. INDEMNIFICATION
The Seller shall indemnify and hold harmless the Buyer from and against any and all claims, liabilities, costs, and expenses (including reasonable legal fees) arising from:
a. Any breach of the Seller's representations, warranties, or covenants under this Agreement.
b. Any claims against the Vehicle or its ownership prior to the Effective Date.
The Buyer shall indemnify and hold harmless the Seller from and against any and all claims, liabilities, costs, and expenses (including reasonable legal fees) arising from:
a. Any breach of the Buyer's representations, warranties, or covenants under this Agreement.
b. Any claims against the Vehicle or its use from and after the Buyer takes physical possession of the Vehicle.
11. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of laws principles.
12. DISPUTE RESOLUTION
12.1. Negotiation: Any dispute, controversy, or claim arising out of or relating to this Agreement, or the breach, termination, or invalidity thereof, shall first be attempted to be resolved amicably by good faith negotiations between the Parties.
12.2. Arbitration: If the Parties are unable to resolve the dispute through negotiation within thirty (30) days, either Party may refer the dispute to arbitration in accordance with the provisions of the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria 2004 (or any statutory modification or re-enactment thereof). The arbitration shall be conducted by a single arbitrator appointed by agreement of the Parties, or failing such agreement, by the Chairman of the Nigerian Bar Association, [ARBITRATION LOCATION (E.G., LAGOS)] Branch. The language of arbitration shall be English. The decision of the arbitrator shall be final and binding on both Parties.
13. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, between the Parties.
14. SEVERABILITY
If any provision of this Agreement is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be severed from this Agreement, and the remainder of this Agreement shall continue in full force and effect.
15. COUNTERPARTS
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
16. NOTICES
Any notice or other communication required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally, sent by registered mail, or by email to the addresses specified in Section 1 of this Agreement, or to such other address as a Party may designate by notice to the other Party.
SIGNATURES
Seller — Signature
Printed Name: ________________________
Date: ______________
Witness to Seller — Signature
Printed Name: ________________________
Date: ______________
Buyer — Signature
Printed Name: ________________________
Date: ______________
Witness to Buyer — Signature
Printed Name: ________________________
Date: ______________