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Vehicle Sale Agreement Format for Company

Download a company vehicle sale agreement format. Covers buyer, seller, employees, witnesses, ownership transfer, and legal terms in Pakistan.

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Company Vehicle Sale Agreement Format

SALE AGREEMENT OF VEHICLE

This Agreement is made at Karachi on this ______________ day of ______________.

BETWEEN

M/S ________________________________, having NTN No. ______________ address ____________ ___________________________________________________________(hereinafter called First party).

AND

Mr. ___________________________ S/o. ___________________________, Muslim, Adult, holding CNIC No. ___________________________ Resident of _____________________________________ ____________________________________, Employee of  ____________________________ Company Having Staff No. ___________________, (hereinafter called Second party).

WITNESSETH AS UNDER:-

Whereas the first Party is the sale and absolute owner of Vehicle Bearing  Registration No. ______________, Engine No. ______________ Chassis No. ______________  Maker ______________Model ______________Color ______________Horse Power ______________ herein referred on the “Vehicle/Property”.

Cont.…… Page 2

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PAGE 2

WHERE AS the first party has agreed to sale out the above said vehicle to the second party in total sale consideration of Rs. ______________/- (Rupees ___________________________ only )on the terms and conditions mentioned below:-

TERMS AND CONDITIONS OF THIS AGREEMENT:

  1. That the second party has paid total said consideration of Rs. ______________/- (Rupees_________ ___________________ only) through Cash / Pay order # ________________________________ _____________________________________________________.
  2. That the first party handed over the peaceful possession of the vehicle along with all the original documents.
  3. That the second party will be the sole and absolute owner of the said vehicle henceforth with.
  4. That before Dated__________________ & time _________________first party is the responsible and after Dated__________________ & time _________________ the second party is the responsible of the same vehicle.
  5. As per employment terms and conditions of first party the above said vehicle will be transferred on the name of _______________________________Company having NTN No. ____________________ in next 14 working days of this agreement.
  6. That before the date of this agreement, if any kind of load, burdens and dues taxes etc. on the “Said Vehicle” the “Seller” Shall be fully responsible and after date of this agreement the “Purchaser” shall be fully responsible to pay the same.
  7. That the First party (M/S _______________________________) company NOC is attached with this agreement.

IN WITNESS WHEREOF both the parties hereto have set and subscribed their respective hands here at Karachi on the day month and year first above mentioned.

Karachi.

Dated : ___________________.

 

First Party

Signature :__________________________

Name: M/S _________________________

NTN No. ____________________________

Address:____________________________

____________________________________

____________________________________

 

 

Second Party

Name:_____________________________

S/o:_______________________________

CNIC No. __________________________

Address:___________________________

________________________________

Employee of ______________________

Staff No. ________________________

 

 

 

Witness 1: ________________________

Name:____________________________

S/o:______________________________

CNIC No. __________________________

Address:___________________________

_________________________________

 

 

 

Witness 2: ________________________

Name:____________________________

S/o:______________________________

CNIC No. __________________________

Address:___________________________

_________________________________

 

Download PDF File: Vehicle Sale Agreement Format for Company

FAQS

What is the core purpose of this Company Vehicle Sale Agreement?

The core purpose is to formally document the Sale Agreement of Company Vehicle from the corporation (First Party) to an individual, often an employee (Second Party), defining the financial terms and transferring ownership and liability.

Why is the First Party listed as “M/S

The “M/S” designation and NTN (National Tax Number) are required because the First Party is a registered business entity selling a company asset, which has implications for taxation and corporate records.

When does the legal responsibility (liability) for the vehicle transfer from the Company to the employee?

Responsibility transfers at a specific date and time explicitly stated in the agreement: “before Dated___________ & time ___________first party is the responsible and after… the second party is the responsible.”

What are “load, burdens and dues taxes” mentioned in the agreement, and who is responsible for them?

These refer to any financial or legal liabilities (e.g., pending traffic fines, token tax arrears, bank loans) on the vehicle. The Seller (First Party) is responsible for all dues before the agreement date.

Why is the clause about transferring the vehicle to a specific company/NTN included?

This clause, stating the vehicle “will be transferred on the name of ___ Company,” suggests the sale is part of an employment benefit or policy, where the employee’s personal vehicle is then registered under their employer’s name for tax or other reasons.

What documents is the First Party required to hand over with the vehicle?

The First Party must hand over the peaceful possession of the vehicle along with all the original documents, which typically include the Registration Book/Card, Transfer Letter, and Sale Deed.

Is a separate Company NOC required for this sale, or is this agreement sufficient?

A separate Company NOC (No Objection Certificate) is explicitly mentioned as being “attached with this agreement.” This is often a mandatory document for the vehicle registration authority to process the ownership transfer.

Does the Company Car Sale Contract Format permit payment by Cash or only Pay Order?

The agreement explicitly allows the total sale consideration to be paid through Cash / Pay Order. The specific method used is recorded by filling in the Pay Order number if applicable.

What is the significance of the “Witnesses” section in this Vehicle Sale Agreement?

The two witnesses act as non-interested parties who confirm they were present and saw both the Company representative (First Party) and the Employee (Second Party) execute the Vehicle Sale Deed.

What are the key details that must be accurately verified from the vehicle documents?

The critical details for the Car Sale Agreement by Company Pakistan are the Registration No., Engine No., and Chassis No. These ensure the legal document precisely matches the physical “Vehicle/Property” being sold.

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