Standard Bill of Sale Word Template
“Bill of sale” as it is evident from its own name that it is a bill or a receipt used when someone sells a valuable item i.e. car, heavy-duty machinery, pets, farm animals or property. This type of documentation is usually not done for an item of lesser value.
This document provides protection to both the seller and the buyer. The seller keeps a copy of it with him as a proof of the terms and conditions on which he sold the item whereas on the other hand, this helps the buyer to keep track of the amount he paid for the item as well as the warranty date if applicable. Most importantly he can use the document to prove his ownership.
For this bill to be accepted certain requirements should be fulfilled. These include:
- The details of the item sold
Details include the address and complete location of the property sold or complete information about a car and its body parts and ownership details.
- Warranty date if applicable
It is important to mention warranty date on the document to avoid any future conflicts.If a warranty is not applicable to the product it still should be clearly mentioned that the buyer agreed on purchasing the item in its current state.
- The price paid and if any payment is overdue
The document should contain complete information of the transaction made and it should be clearly mentioned if some part of the payment is overdue.
- The date and time of the transaction
The date of a transaction does not specifically means ownership date but it refers to the day when the item was handed over to the buyer.
- Signatures of both the parties
Signatures of both the parties indicate that at the time of transaction both the parties were willing and had no issues. These signatures can later be used if a conflict arises.
- Signature of witnesses
Apart from the signatures of the seller and the buyer, it is equally important to take signatures of the third party on the same document to indicate that the transaction was carried out in presence of a third person.
A document having all the above-mentioned points is acceptable to be used as a standard bill of sale. The construction and formatting of such a document with all the above-mentioned details are time-consuming so we here provide you with different templates that have all the information as mentioned above.
They can be edited to add the required information and hence can be used as a standard bill for the sale of any item. Download from the variety of available templates and use them for your transactions and stay on the safer side.