This Contract of Sale (the "Agreement") is made and entered into this [DAY] day of [MONTH], [YEAR], in [CITY/PROVINCE], Philippines, by and between:
[SELLER NAME], of legal age, Filipino, with address at [SELLER'S ADDRESS], and holding Philippine Tax Identification Number (TIN) [SELLER'S TIN], (hereinafter referred to as the "Seller");
-and-
[BUYER NAME], of legal age, Filipino, with address at [BUYER'S ADDRESS], and holding Philippine Tax Identification Number (TIN) [BUYER'S TIN], (hereinafter referred to as the "Buyer").
WHEREAS, the Seller is the registered and lawful owner of the motor vehicle detailed below (the "Vehicle");
WHEREAS, the Seller agrees to sell and the Buyer agrees to purchase the Vehicle under the terms and conditions set forth herein.
NOW, THEREFORE, for and in consideration of the foregoing, the Parties agree as follows:
| Make/Model | |
| Year Model | |
| Color | |
| Plate Number | |
| Engine No. | |
| Chassis No. | |
| LTO MV File No. | |
| LTO CR No. |
2.1. Purchase Price. The total consideration for the sale of the Vehicle is [PRICE IN WORDS] (Php [PRICE IN FIGURES].00) (the "Purchase Price").
2.2. Payment. The Purchase Price is final and shall be paid by the Buyer to the Seller in full upon the signing of this Agreement. Payment shall be made via [METHOD OF PAYMENT].
3.1. "As-Is, Where-Is". The Buyer expressly agrees to purchase the Vehicle on an "AS-IS, WHERE-IS" basis. The Buyer acknowledges that he has been given full and unrestricted opportunity to inspect, test drive, and examine the Vehicle, its parts, and its documents to his entire satisfaction prior to the execution of this Agreement.
3.2. No Warranties on Condition. The Seller makes no warranty or representation, express or implied, regarding the mechanical, electrical, or physical condition of the Vehicle. The Buyer accepts the Vehicle in its present, actual condition.
3.3. Waiver of Warranty Against Hidden Defects. By signing this Agreement, the Buyer explicitly waives any and all rights under Article 1561 of the Civil Code of the Philippines and related provisions concerning the warranty against hidden defects.
The Seller warrants to the Buyer only the following:
4.1. Title and Ownership. The Seller is the true and registered owner of the Vehicle and has the legal right to sell and convey the same.
4.2. Free from Liens and Encumbrances. The Vehicle is free from any and all known liens, mortgages, and financial encumbrances.
4.3. Legality and Origin. The Vehicle has not been reported as stolen ("carnapped"), and to the Seller's best knowledge, its engine and chassis numbers are original and have not been tampered with.
5.1. Delivery and Final Acceptance. Upon receipt of the full Purchase Price, the Seller shall deliver the Vehicle, its keys, and its original Certificate of Registration (CR) and Official Receipt (OR) to the Buyer. The act of the Buyer taking possession of the Vehicle shall constitute his final and irrevocable acceptance thereof. The sale shall be considered final, absolute, and non-refundable.
6.1. Execution of Transfer Documents. The Seller shall execute and deliver a duly accomplished and notarized Deed of Sale to facilitate the transfer of the Vehicle's registration.
6.2. Responsibility for Costs. All costs, fees, and taxes associated with the transfer of ownership, including but not limited to transfer tax, registration fees, and notarial fees, shall be for the exclusive account of the BUYER.
7.1. Seller's Liability. The Seller's liability under this Agreement is strictly limited to a breach of the warranties stated in Clause IV. In the event of such a breach, the Seller's sole obligation shall be to take all reasonable steps to rectify the title, lien, or legality issue.
7.2. Indemnity. The Seller shall not be liable for any claims, damages, or liabilities of any kind arising from the use, condition, or operation of the Vehicle after the point of delivery.
8.1. Governing Law and Venue. This Agreement shall be governed by the laws of the Republic of the Philippines. Any dispute arising from this Agreement shall be filed exclusively in the proper courts of [CITY], Philippines.
8.2. Entire Agreement. This document constitutes the entire agreement between the Parties.
IN WITNESS WHEREOF, the Parties have executed this Agreement on the date and place first written above.
Seller
Buyer
Signed in the presence of:
_______________________
(Witness)
_______________________
(Witness)
REPUBLIC OF THE PHILIPPINES)
CITY OF ____________________ ) S.S.
BEFORE ME, a Notary Public for and in the City of ____________________, this ____ day of ____________, 20__, personally appeared:
| Name | ID Type & Number | Date & Place of Issue |
|---|---|---|
Known to me and to me known to be the same persons who executed the foregoing Contract of Sale and acknowledged to me that the same is their free and voluntary act and deed.
This instrument, consisting of ____ pages, including the page on which this acknowledgment is written, has been signed by the parties and their instrumental witnesses on each and every page hereof.
WITNESS MY HAND AND SEAL on the date and at the place first above written.
Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 2025