If you are selling or buying valuable equipment, you definitely need an equipment bill of sale form. To help you prepare the equipment bill of sale quickly and easily, we provide you with a free equipment bill of sale form in PDF and Word formats.
Notice that this bill of sale is used when you are selling equipment. However, if you sell other assets such as a boat, trailer, motor vehicle, firearm, etc., check out the corresponding bill of sale form.
What is an equipment bill of sale?
An equipment bill of sale is a document that facilitates the transfer of ownership of equipment or machinery from a seller to a buyer. It is a legal document to reflect the instant change of ownership and serve as a sales receipt of the equipment.
Terms and conditions of the sale are defined based on the input of the seller and the buyer to ensure both parties entered into an agreement on the sale of the equipment with a clear understanding of the various circumstances.
Essential information on the equipment bill of sale
The seller is responsible for providing detailed information on the equipment for sale. The key information is, but not limited to, the model and make of the equipment, description of the equipment as is, serial number, registration number, and other information which allows the buyer to carry out due diligence checks such as liens and encumbrances on the equipment.
The sales price inclusive of taxes should be stated prominently. In addition, if any components come along with the equipment, itemized prices of the components may be necessary. The objective is to ensure the buyer accepts the sale with a clear understanding and agreement to the various existing conditions of the equipment.
The buyer is responsible for supplying the seller with accurate information about the new owner’s full name and address to facilitate ownership of the equipment. In addition, the buyer is required to understand and accept the terms and conditions presented in the equipment bill of sale before signing off the bill of sale. The equipment bill of sale is a binding legal document between the seller and buyer that finalized ownership at the stated price.
Ample space on the equipment bill of sale is needed for both the buyer and seller to supply complete signatures, dates of signature, and company chops. Additional room may be required for notarized stamps by the State. Both parties should retain a copy of the bill of sale.
This form is an AS IS bill of sale. It means that the equipment is sold AS IS without any warranties. It protects the seller from any damages or faults of the equipment after the sale.
This equipment bill of sale form is available as a Word template. You can use Microsoft Word to edit it. In addition, we provide you with a PDF format so that you can use any PDF reader to fill out, print, and sign.
