Transmission Purchase Agreement

by | Feb 16, 2024 | Agreements

GRACE USED ENGINES INC. USED CAR ENGINE/TRANSMISSION PURCHASE AGREEMENT

This Used Car Engine/Transmission Purchase Agreement (“Agreement”) is entered into on this [date] (the “Effective Date”), by and between:

Seller: Grace Used Engines Inc. Represented by [Your full name] [Your Address] [City, State, ZIP]

Buyer: [Customer’s Name] [Customer’s Address] [City, State, ZIP]

(Collectively referred to as the “Parties”).

RECITALS

WHEREAS, the Seller operates a business selling used car engines and transmissions;

WHEREAS, the Buyer desires to purchase a used car engine or transmission (the “Product”) from the Seller;

WHEREAS, the Parties wish to set forth the terms and conditions governing the purchase and sale of the Product;

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties agree as follows:

  1. Purchase and Payment Terms
    • The Buyer agrees to purchase the Product from the Seller at the price of [Amount in Currency], payable through [Payment Method]. The Buyer acknowledges that payment for the Product constitutes acceptance of the Product’s condition and adherence to the terms set forth in this Agreement.
  2. Description of the Product
    • The Product being purchased under this Agreement is described as follows:
      • Engine/Transmission Details:
        • Make: [details]
        • Model: [details]
        • Year: [details]
        • Mileage (if applicable): [details]
        • Serial/VIN Number: [details]
        • Additional specifications or identifying information: [details]
  1. Shipping and Delivery
    • The Buyer shall provide the Seller with accurate shipping information, including name, address, contact number, and any additional details necessary for successful delivery.
    • The Seller shall ship the Product to the address provided by the Buyer within [Number] business days of receiving the payment. The Seller shall use reasonable efforts to ensure the safe and prompt delivery of the Product.
  2. Inspection and Notification
    • Upon receiving the Product, the Buyer shall inspect it thoroughly within [Number] days.
    • In the event of any faults or missing items, the Buyer shall immediately notify the Seller, providing photographic evidence and a detailed description of the issue.
    • Failure to report any faults or missing items within the specified timeframe shall constitute acceptance of the Product in its current condition.
  3. Return and Refund
    • The Seller shall not be liable for any damage or issues arising after the Product has been delivered to the Buyer.
    • The Buyer acknowledges that the Seller has provided accurate descriptions and condition details of the Product prior to the purchase.
    • No returns or refunds shall be accepted unless explicitly agreed upon by both Parties in writing.
  4. Chargebacks and Unauthorized Claims
    • The Buyer agrees not to initiate any chargebacks, unauthorized claims, or disputes with their bank or financial institution regarding the purchase of the Product.
    • The Buyer acknowledges that any unauthorized claims may be subject to legal action to recover the full amount owed, as well as any additional costs incurred by the Seller.
  5. Indemnity
    • The Buyer agrees to indemnify and hold the Seller harmless from any claims, losses, damages, liabilities, and expenses arising out of the Buyer’s use, misuse, or modification of the Product.
    • The Buyer assumes all responsibility for the proper installation, maintenance, and use of the Product.
  6. Governing Law and Jurisdiction
    • This Agreement shall be governed by and construed in accordance with the laws of [State/Country].
    • Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts in [City/County/Region].
  7. Entire Agreement
    • This Agreement constitutes the entire understanding between the Parties and supersedes any prior agreements or understandings, whether written or oral, relating to the subject matter hereof.

IN WITNESS WHEREOF, the Parties have executed this Used Car Engine/Transmission Purchase Agreement as of the Effective Date.

GRACE USED ENGINES INC.

/s/________________________

[Your Name]

[Your Title/Position]

[Your Company Name]

[date]

 

BUYER:

/s/_________________________

[Customer’s Name]

[date]

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