A bicycle bill of sale is simply a document given by the seller to the buyer as a legal document showing the purchase of the bicycle and the transfer of ownership. In simple terms, a bicycle bill of sale can be called a receipt.
Why a Bill of Sale is Important?
- A bicycle bill of sales provides information about the bicycle registration/identification number.
- It shows the cost of the bicycle and the date of purchase.
It also consists of the names and signatories for both parties.
- In case of illegal cases regarding the bicycle, then the bicycle bill protects both the buyer and the seller against the case. For example, if the bicycle was stolen or used in theft cases.
- Another importance of a bicycle bill form is that it is a form of record and can be used to trace back the bicycle’s history.
- A bicycle bill of sales also makes it easier to sell the bicycle “As-is.”
What is the Meaning of “As-is.”
“As-is” condition in a bicycle means that the seller is ready to sell the bicycle in its current state of condition, and the buyer is also ready and has accepted to buy the bicycle in its current condition.
Free Bill of Sale Form
Standard Bicycle Bill of Sale Form Particulars
A bicycle bill of sale form comes with different structures/designs but the content is similar or close to. The form consists of the following.
The name of the seller and his/her addresses: It also consists of the seller’s phone number. this can be handwritten or already typed on the form. This form also consists of the buyer’s full name, phone number, and his/her address. It consists of a part with the information that the owner declares ownership and possession of the bicycle “As-is,” and he/she accepts to sell it. Another thing that is on the DEC-DOC form is a statement or a description part that describes the quality of the bicycle “As-is.” It also consists of a statement that declares that the buyer has accepted to buy the bicycle “As-is.” These forms also consist of a part for indicating the bicycle details. The details include bicycle make, model, color, serial number, quality “As-is,” tire size, and the sale price.
The final part of these forms is the signatures for both parties and dates. This shows acceptance of the deal on both sides.
Some of the bicycle bills of sale form contain a buyer’s certificate that indicates the completion of purchase for the bicycle. The certificate includes a statement showing that the buyer bought the bicycle and possessed full possession. It also includes printed names of the buyer and seller and their addresses.
A bicycle bill of sale form is of much importance than one may think. The above article has described the main importance of having a bicycle bill of sale form DEC-DOC briefly. This form comes in duplicate so that the buyer gets his/her copy as well as the seller. Finally, this form comes in duplicate so that the buyer gets his/her copy as well as the seller.