General Bill of Sale

General Bill of Sale

    When it comes to creating a bill of sale for your business, you know the difficulty and importance of having everything spelled out clearly and accurately. Fortunately, this General Bill of Sale template will help you out. As a generic template, it can be used for any type of sale, purchase, or transfer of ownership. You can use it as is or draft it in a way that you and your clients feel safe and in control in the transactions.

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General Bill of Sale
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General Bill of Sale

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Robust selling and purchasing are not as secure as it seems to be. The exchange of goods with cash or any other compatible item needs a careful procedure to follow. It is so, to avoid any intentional corruption.

Therefore, it is wise for any trading to use a specific or general bill of sale form for any trading. This is the sort of receipt that carries buyer and seller information along with a brief description of the item intended to be sold.

What Is a General Bill of Sale?

Usually, the general bill of sale is used when any exchange of valuable items is taking place. Specifically, it is best to use in the trading of expensive second-hand assets.

It holds not only relevant information of seller and buyer but also terms and conditions (if any). It states the terms on which both parties agreed upon. And this requires a legal signature from both parties to avoid any future conflict and contradictions.

Besides this, traders can use the general bill of sale for any item they feel is valuable and needs protection. It can be used from pets to jewelry to vehicles, etc.

Download Our Free General Bill of Sale Template!

You want something that's simple, easy to understand, and customizable. Well, now you can have that with the General Bill of Sale Template! This is a template for a standard bill of sale that can be customized and used for any type of transaction. Download, customize and use it today!

Why Use a General Bill of Sale?

The sole purpose of using the general bill of sale is to assure that whatever item you are purchasing is entirely secure. In other words, it protects you against fake claims, suspicion, and other corruptive interferences.

It shields your dignity, either you are a buyer or seller. Therefore, both parties should hold a copy of the General Bill of Sale and show upon legal inquiry. Elaborately, it helps you to purchase any stolen or dysfunctional item.

Moreover, it helps in crystal clear recording of transactions securing the ownership of your new asset. Similarly, for sellers, it benefits by securing their cash transactions legally. Hence, help to fall into any fraudulence.

What Kind of Transactions Requires a General Bill of Sale?

Any item which upon selling gives you a hefty amount of finance requires a general bill of sale. It includes:

  • Jewelry items.
  • Any valuable antique piece.
  • Expensive animals like a horse, dog , or any other pet of royal breed.
  • Electronic appliances like TV, Laptop, vacuums, etc.
  • Household stuff can include a metallic dinner set, exported rug, and leather or skin items such as the tiger's skin.
  • Motor vehicles, tractors, cars, motorcycles, etc.
  • Firearms.

What Are the Details in a General Bill of Sale?

A general bill of sale should carry all information that prevents any confusion and dispute between both parties. From date to signature, everything should be crystal clear to benefit both parties. Following are compulsory requirements a worthy one should have:

Information of Both Parties

It should include information on both parties that detects their real identity. It includes name, residence, state, city, driving license number, and both parties' pictures.

Description of Selling Item

There should be a complete record and history attached in this section. Additionally, stating its current physical condition, including its defects. Also, mention relevant information essential to detect its authenticity.

It includes VIN in case of vehicles, caliber (in firearms), and breed in terms of pets. Also, odometer and model number if any of the items have such as boats.

Transaction Method

It is essential to mention the complete details of the transaction. It includes:

  • The place and time where the transaction of the item will occur.
  • The payment method of money if it's based on installment, credit or debit cards, etc.
  • If the transaction is an exchange of another item instead of cash.

Terms and Conditions

Mention any specific terms and conditions if any of the parties are applying. For instance, if the trading is based on 'as-is' terms or warranty conditions.

The condition comprises the rule that says the seller is not responsible for any defect if appearing later. Whereas, warranty is the commitment to fulfill any specific loss or defect found in the item. However, a seller should mention what defects will be entertained in terms of cost.

Date of Agreement

It is crucial to mention the exact date of the agreement. It clarifies the transferring of ownership from the former seller to the new buyer. However, in some cases, ownership only occurs after registration in specific county offices like motor vehicles.

Signature of Third Party

It is essential to take a sign of a third party along with the buyer and seller's signature. It confirms the agreement is signed with the mutual understanding of both parties without any pressure.

Download Our Free General Bill of Sale Template!

You want something that's simple, easy to understand, and customizable. Well, now you can have that with the General Bill of Sale Template! This is a template for a standard bill of sale that can be customized and used for any type of transaction. Download, customize and use it today!

Conclusion

The general bill of sale is essential to confirm the transfer of ownership of a valuable item from one seller to the buyer. Furthermore, it clears the status of both parties in terms of trading the item. It helps in securing one's asset, cash, and legal reputation.

CocoSign provides varieties of great templates for free, which are carefully crafted according to your specific needs and requirements.

DOCUMENT PREVIEW

BILL OF SALE

Date Sold:

 

 

SELLER’S

 

BUYER’S

Printed Name:

 

 

Printed Name:

 

Address:

 

 

Address:

 

City :

 

 

City:

 

State:

 

Zip:

 

 

State:

 

Zip:

 

Home Phone:

 

 

Home Phone:

 

Cell Phone:

 

 

Cell Phone:

 

Work:

 

 

Work:

 

 

INFORMATION ON ITEM THAT WAS SOLD

 

 

 

 

 

 

 

For the sum of

$

 

, Payment in form of

 

 

 

(Item’s Value)

 

(form of payment)

 

 

I, THE UNDERSIGNED, HEREBY SWEAR OR AFFIRM THAT I THE SELLER OF THE ITEM DESCRIBED HEREIN AND THAT THE INFORMATION PROVIDED IN THIS BILL OF SALE IS TRUE AND CORRECT TO THE BEST OF MY BELIEF.

 

 

Signature of Seller:

 

 

Date:

 

Signature of Buyer:

 

 

Date:

 

 

Disclaimer

CocoSign represents a wide collection of legal templates covering all types of leases, contracts and agreements for personal and commercial use. All legal templates available on CocoSign shall not be considered as attorney-client advice. Meanwhile, CocoSign shall not be responsible for the examination or evaluation of reviews, recommendations, services, etc. posted by parties other than CocoSign itself on its platform.

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