This purchase agreement records the description of the vehicle, and any extras or repairs that are to be carried out by the Seller in the agreed price before handover of the vehicle to the Buyer. No other work will be carried out unless committed to writing and authorised by the Seller.
The Buyer acknowledges that it is purchasing a used commercial vehicle and its associated equipment. The Seller has taken all reasonable steps to identify and repair defects to the vehicle. On accepting delivery of the vehicle, the Buyer is required to complete the Seller’s delivery note confirming that it has inspected and is satisfied with the vehicle.
For additional peace of mind the Buyer is offered, the option of acquiring an extended warranty from a third-party provider to cover the vehicle mechanically at an additional cost. The Buyer is required to make an election to obtain the extended warranty and to indicate such election on the purchase agreement.
For additional peace of mind the Seller invites the Buyer, at the Buyer’s cost, to request a third-party provider to inspect the vehicle at the Seller’s premises and provide a report to the Buyer on the vehicle’s condition. The Buyer is required to make an election to have a third party inspect the vehicle and indicate such election on the purchase agreement.
The Buyer confirms that the provisions of the Consumer Protection Act 68 of 2009 (CPA) does not apply to this transaction. In particular the implied warranty of quality is expressly excluded from this transaction. The Buyer is to confirm same by signing the purchase agreement, which confirms that this transaction falls outside the scope of the CPA as result of the threshold determined in Government Gazette No. 34181, dated 1 April 2011 being exceeded.
Payment of the full purchase price of the goods shall be made by EFT to the Seller’s bank in cleared funds and free of all charges before handover of the vehicle will take place
Cash payment will not be accepted by the Seller. If cash is paid into the Seller’s bank, contrary to this Seller’s directive, the vehicle will not be handed over until the Buyer has satisfied all South African Reserve Bank, SARS and other legal requirements regarding cash transactions.
Ownership of the goods shall remain vested in the Seller until all amounts owing by the Buyer have been paid in full into the Seller’s bank in cleared funds and free of all charges.
Risk of ownership is transferred to the Buyer upon receipt of full payment or hand over whichever is the soonest, after which time the Buyer and/or the Buyer’s insurer carries all risks. Despite such transfer of risk, the Buyer will allow the Seller’s qualified driver to move the vehicle from place to place in order to prepare the vehicle for handover.
A storage fee may be levied to the Buyer of an asset that has not collected the vehicle within 7 (seven) days of paying in full.
Handover of the vehicle will be made at the Seller’s Brentwoodpark yard or at any place in the Johannesburg Reef area, nominated by the Seller.
The Buyer may not add any extras that do not form part of the purchase agreement to the vehicle until full payment has been received by the Seller thereafter such additions are at the Buyer’s risk even if it is done before handover.
The distance recorded on the vehicle’s odometer is as it was received from the previous owner. It is the Buyer’s responsibility to confirm the accuracy of such recording.
Statements in this agreement, any advertisements and the like, regarding mass, weights, kilometres, capacity, kilowattage etcetera shall be taken to be approximate only, and sketches and illustrations are not binding as to detail. It is the Buyer’s responsibility to confirm the accuracy of such values.
Should the Buyer require a Zero rated Tax Invoice due to the vehicle being exported, the Seller will arrange the export of the vehicle through an authorised shipper at extra cost to the Buyer.
The Seller may cancel this agreement at its sole discretion, if during the preparation of the vehicle and before handover, it is found that there are defects, or other reasons, that will make it uneconomical to repair at the price stated in the agreement. In such instance the Buyer will have no recourse for damages.
The Seller does not accept any responsibility for delay in handover from whatever cause arising.
If the Buyer wishes the Seller to “hold” the vehicle for an agreed period of time, the Buyer shall buy an option for the period, such option will ensure the vehicle is “held” for the Buyer exclusively until the option period expires. The price and terms of the option shall be recorded on this purchase agreement, clearly indicating the finish time and date, when the balance of the full purchase price of the vehicle must be paid into the Seller’s bank account in cleared funds. The price of the option period shall be paid into the Seller’s bank account within 24 (twenty four) hours of signing this agreement. Should the term of the option period expire before the full purchase price has been paid, the Seller is entitled, at its sole discretion, to cancel this purchase agreement without notice. The Seller will refund to the Buyer of the option the option price less 15% of the full vehicle purchase price including VAT to offset loss of earnings and expenses incurred.
The vehicle is sold without any warranties of whatever nature by the Seller. The Seller shall not be responsible to the Buyer or any other person for damage, injury or consequential loss of whatever nature sustained by the Buyer or any other person howsoever such damage, injury or loss is caused.
The Seller may have considered service items such as, but not limited to, clutches, brake linings, batteries, tyres etcetera, adequate for further use. These savings are reflected in the price of the vehicle. Buyers may request in writing, before delivery, replacement clutches or brakes and other service items etcetera at an additional cost.
On delivery the Seller’s delivery note will be required to be completed and signed by an authorised representative of the client. The client hereby acknowledges this requirement and will only send an authorised representative to complete and sign the delivery note on the Buyer’s behalf.
The Buyer understands that it has purchased a used commercial vehicle and its associated equipment which may have latent defects that may not been identified by the Seller during its purchase and preparation for resale. The Buyer warrants that it will not hold the Seller liable should such a defect become evident after delivery.
On acceptance of this purchase agreement by the Seller, the terms and conditions stated herein shall form part of the purchase agreement.
Any queries or complaints regarding the vehicle that has been purchased by the Buyer after delivery should be directed to firstname.lastname@example.org for resolution.
The parties consent to the jurisdiction of the Magistrate’s Court in terms of Section 45 of the Magistrate’s Court Act, 1994 as amended in respect of any claim arising between the parties. Notwithstanding such consent, the Seller may, at its option, institute any proceedings in the appropriate division of the High Court of South Africa.
I the undersigned hereby confirm that the aforesaid terms have been explained to me and that I am authorised to sign this purchase agreement incorporating the terms and conditions (Annexure A) and confirmation of Buyer’s election on behalf of the Buyer.