A bill of sale is a legal document which is made by the seller to a buyer. It includes details and encapsulates that on a specific day and date, in exchange for a certain sum of money, the seller has or will sell to the buyer (or purchaser) an item or items of equipment of which he was the lawful possessor. This document is written evidence that the seller has transferred ownership of the equipment vendee or buyer.
An equipment bill of sale template is a document which enlists every detail of the sale that occurs between the vendor and vendee and is so methodical that there is no scope of ambiguity. The opening phraseology is simple and states that certain equipment worth a certain amount was sold by the seller (name specified) to the buyer (name specified) on the day and date (specified). Every detail regarding the make, model, year of manufacture, serial and VIN number and hour reading are mentioned.
The equipment bill of sale also needs to cover terms and conditions in addition to all the details that are needed to facilitate the transfer of ownership of the equipment. It is the buyer’s duty to comprehend and accept the terms and conditions laid down in the equipment bill of sale template before signing off.
An equipment bill of sale template has enough space for both the seller and the buyer to provide complete signatures, date of signatures and notarized stamps by the state if needed. Since this is an important part of the sale procedure, many websites have detailed bill of sale templates which can help people get a detailed understanding of what needs to be included in the document.