The deed of transfer is the certificate that the seller should possess in order not to have legal debts in the future on the bike. 2 original copies (no photos) of the deed transfer must be taken. The engine number, chassis number and registration number must be written on it. The sales stamps must be glued to them and signed by the buyer. Buyers and sellers should own the forms. It`s safer to sell your bike to people you know or to reputable sporting goods stores. If you have to sell to a stranger (either online or via an information ad), then meet and exchange in a public place with a lot of people around. The bike must have a valid insurance certificate for the duration of the sale. Once the ownership of the bike is changed to the owner`s name, make sure they also change the owner`s name in the insurance certificate.
This can be done through a written application with the insurance company. When the insurance expires, the new owner must pay the fine for the time without the insurance, so that the vehicle is insured. Other documents that the buyer should receive from the seller when buying a bike are shown below. The bike should have a valid tax proof. Today, most vehicles have paid life tax, which is usually for a period of fifteen years [varies from state to state] Take the expression of these forms and leave it duly filled out and signed. And do it in the RTO for a change of ownership of the bike. Form 28 and the transfer document are not required for sale/purchase, but form 29 and form 30 are mandatory. The "Bike Sales Bulletin" form is a document used to record the legal purchase or transaction of a bicycle from buyer to seller. Think of it as a receipt. It provides proof of ownership by describing the fine details of the bike for purchase, the cost of the bike (if any) as well as the contractual signatures of the buyer and seller. Contracting parties may include the compromise clause in this agreement.
As part of the arbitration process, any dispute, if any arises between the parties, is referred to a third party ("arbitrator") who is designated with each other by both parties. The arbitrator will hear from both parties and decide on the merits of the case. The arbitrator`s decision is final and binding on both parties. After filling out the form, print out the corresponding number of copies. Sign both sides. The Consumer Council urges the parties to read the entire agreement before the agreement is signed. You can also print the chord and fill it out on paper. When it`s time to meet a potential buyer, you`ll want to arrange this in a public place. You can take time for the person to look at the bike and check the problems and negotiate the price of the bike. Use common sense if the buyer wants a try, make sure you get sufficient guarantees before taking them off with your bike. If you have reached an out-of-court settlement on the purchase price, both parties are ready to sign and date the voucher and exchange the money for the bike.