If you are selling or buying valuable equipment, you definitely need an equipment bill of sale form. To help you prepare equipment bill of sale quickly and easily, we provide you with free equipment bill of sale form in both PDF and Word formats.
An equipment bill of sale is a document that facilitates the transfer of ownership of an equipment or machinery from a seller to a buyer. It is legal document to reflect instant change of ownership and serve as a sales receipt of the equipment. Terms and conditions of the sale are defined based on the input of the seller and the buyer to ensure both parties entered into agreement of the sale of the equipment with clear understanding of the various circumstances.
The seller is responsible for providing detailed information of the equipment for sale. The key information are, but not limited to, the model and make of the equipment, description of the as is where is condition, serial number, registration number and other information which allow the buyer to carry out due diligence check such as liens and encumbrances on the equipment. The sales price inclusive of taxes should be stated prominently. If there are any components which comes along with the equipment, itemized prices of the components may be necessary. The objective is to ensure the buyer accepts the sale with clear understanding and agreement to the various existing conditions of the equipment.
The buyer is responsible for supplying the seller accurate information of the new owner’s full name and address to facilitate transfer of ownership of the equipment. The buyer is required to understand and accept the terms and conditions presented in the equipment bill of sale before signing off the bill of sale. The equipment bill of sale is a binding legal document between the seller and buyer which finalized the transfer of ownership at the stated price.
Ample space on the equipment bill of sale is needed for both the buyer and seller to supply complete signatures, dates of signature and companies chops. Additional room may be required for notarized stamps by the state. A template of equipment bill of sale is made available for your reference. You can download the equipment bill of sale form now and modify it to suit your needs.