I am going to prepare a Bill Of Sale for a vehicle that is going to Vietnam. We are the exporter and we will be paying and exporting the vehicle on behalf of the customer in Vietnam...I was looking at the BOS options and I don't see where what I prepare is on behalf of?
How do I do this? Sorry never done vehicles before...
Should I prepare this for the Seller to Sign and the purchaser to sign and does this BOS have to be originals when going to the Port for export?
Also, when we have the Title to the vehicle(s) with the BOS, I just have to have the Company name on the Title and that matches the BOS company name (purchaser)?
State/Country relating to Question: Maryland
I have done online research...
Have you checked to see what documents the buyer will need to Import the vehicle from the US? Have to checked to make sure there are no particular documents required to Export the vessel? I assume that you know what is required to transfer title of the vehicle from seller to buyer.
yes,What I will need is a Vehicle Title and a Bill of Sale, dock receipt, and the Bill of lading with a Packing List.I know what I need to provide and the question then lies in what needs to be in the BOS and how to do it.Also, I just realized about the purchase price. since we quoted the person one price and the vendor is selling at another, there is 2 prices: one from the vendor and one we are giving the purchaser (to cover charges), so does the price have to be on the BOS, some say no and that is what I am going to do but since you are asking I guess I will ask this also...if so, can I put the price we quoted to the buyer...since I am asking about who signs and how...Let me know if I need to up the price...thanks for your attention.
The bill of sale needs to have the essentials of the sale which are (1) identify the vehicle being sold, (2) the sale price (if the shipping charges are extra, the sale price should exclude the shipping price and those costs can be separately listed, (3) it must be signed by the seller and should be signed by the buyer (4) the date of the transfer should also be listed. If the buyer is overseas, I would add a provision that the document can be signed by facsimile signature and that will be accepted the same as an original. That will work to transfer the title but you may need original signatures for other purposes, such as import so you may still have to work out doing that. The fastest way is to include a provision that the bill of sale can be executed in counterparts. Then email the unsigned document to the buyer to sign and return a hard copy by DHL or some similar courier and the seller can sign a like document locally.
Although it is not necessary, I would include as part of the bill of sale an assignment of responsibility for obtaining the different sets of documents to effect shipment of the vehicle. I would also state when the risk of loss of the vehicle shifts from the seller to the buyer.
This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.
Great I do understand now the essentials for the Bill of Sale.What I would like to know on the Price: Is the Required for Export? If so, What price can I put on the BOS? Can i put our price or does the Vendor's price have to be there since the Vendor has to sign? Can we put any price in there since there will be a seperate document from the Vendor stating the "actual" price which is their invoice to me?Thanks again,Ernest
Are you selling the vehicle to the customer in Vietnam or is the seller in the U.S. doing the sale and you are charging for the export service, this is what I am not clear on?
We are the exporter...sending the goods to Vietnam, but we also are acting as the 3rd party purchasing the vehicles for the customer in Vietnam, therefore we marked up the price which is what they are seeing.in a way you could say we are purchasing and reselling to Vietnam, but we are the exporter...but the price we gave them is the price we marked up to cover fees for purchasing the vehicles.We were quoted 56,000.00 and we quoted them in Vietnam 61,000.00Thanks again,Ernest
The problem you have is the person selling to you will not want to reflect a price of $56,000 and the cost to the customer is $61,000. Is the problem with the bill of sale coming from you? Does the price include transport to Vietnam?
CloseThe Vendor may not want to reflect on the bill of sale 61,000 when he is selling for 56,000.We (the exporter) are charing 61,000 to cover bank fees, paperwork fees, mailing fees, travel fees to make sure the vehilce is in good working order and pure profit.So I am worried if we put on the Bill of Sale:61,000 and have the Vendor sign (as seller) and have Vietnam sign (as purchaser), won't the Vendor say: Hey I can't sign this because it is a false statement...?Or it doesn't matter since the Invoice coming from the Vendor to Us (exporter) actually states we purchased at: 56,000?Maybe I am confused as to the whole purpose of the Bill of Sale....isn't this some sort of receipt...but does the American government care what is on the Bill of Sale to Vietnam since what Vietnam is using is the Bill of Sale and the Title over there (Vietnam) to register it there and the port fees taxes and duty in Vietnam is paid off of the Bill of Sale over there?maybe what we really need is a letter of assignmemt from the vendor to us and then we can have the bill of sale from us and not from the vendor or is this wrong also.If you need more money (higher bid) please let me knowegrogg40244.596825463
Why don't you simply issue the bill of sale from yourselves to your end customer for the quoted price. The bill of sale is proof of purchase. If someone says who do you come to own the vehicle you have a Bill of Sale to prove the purchase. Your idea of taking an assignment is one way of getting there. Or just do a bill of sale from the vendor to you for $56,000. You than sell to the customer overseas under your bill of sale.
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