Vehicle Sales Agreement

VEHICLE SALES AGREEMENT
THIS VEHICLE SALES AGREEMENT is made this ____ day of ____________, 20___, by and
between PHILIPPINE PRUDENTIAL LIFE INSURANCE COMPANY, INC. ( hereinafter
known as "Seller") and
(hereinafter known as "Buyer"). Buyer and Seller shall
collectively be known herein as "the Parties".
BACKGROUND
WHEREAS, Seller has entered into a Lease Purchase Agreement with BPI Rental Corporation for
the acquisition under lease purchase terms the motor vehicle described in Section A below
hereafter referred to as the "Assigned Vehicle";
WHEREAS, Buyer desires to purchase the Assigned Vehicle from the Seller under the terms and
conditions set forth below; and, therefore,
TERMS AND CONDITIONS
IN CONSIDERATION of the mutual promises and other valuable consideration exchanged by
the Parties as set forth herein, the Parties, intending to be legally bound, hereby agree as follows:
A. Description of Assigned Vehicle.
1. Make: Toyota
2. Model: Vios 1.3 A/T
3. Body Type: Sedan
4. Year: 2013
5. Engine Number : 2NZ6499805
6. Chassis Number: NCP929063235
B. Consideration.
1. Purchase Price. The total purchase price to be paid by Buyer to Seller for the
purchase of the Assigned Vehicle is ______________________________ Pesos
(Php_______) Philippine Currency, (hereinafter "Purchase Price") payable in
__________monthly installments of Pesos _________________________
(Php
)
C. Delivery of Assigned Vehicle and Conveyance of Title
1. Delivery of Assigned Vehicle. Buyer acknowledges that it has possession of the
Assigned Vehicle not in the concept of owner as yet but however with express
permission of the Seller in order that Buyer may use the Assigned Vehicle for
purposes of performing the work Buyer has engaged to perform for Seller as
insurance agent. Buyer further agrees that the risk of loss passes to Buyer upon
obtaining possession of the Assigned Vehicle.
2. Conveyance of Title. Seller shall cause BPI Rental Corporation to convey title to
Buyer upon full payment of the Purchase Price. Seller agrees and covenants to
execute all documents necessary to finalize transfer of title and the registration of
the Assigned Vehicle to Buyer.
D. Representations, Warranties, and Disclosures

1. Warranties. This vehicle is sold "AS IS", and Seller does not in any way, expressly
or impliedly, give any warranties to Buyer. Seller expressly disclaims any
implied warranties of merchantability or of fitness for a particular purpose.
2. Usage Declaration. Buyer hereby states that the Assigned Vehicle has been used
by her even prior to the execution of this agreement and the actual kilometer
reading thereof reflects the actual mileage of the Assigned Vehicle.
E. Buyer's Responsibility Insurance and Maintenance. Buyer acknowledges that it
shall be her responsibility to maintain a full comprehensive insurance on the Assigned
Vehicle and should the Seller be required to insure the Assigned Vehicle in accordance
with its obligation under the lease purchase agreement with BPI Rental Corporation, the
Buyer agrees to reimburse the Seller for the cost of the premium.
Also, the Buyer agrees to comply with the following responsibilities
a. Keeping the car in clean and good running condition.
b. Ensuring that servicing and maintenance are carried out at the intervals recommended
by the manufacturer.
c. Conforming to all instructions and recommendations in the manufacturers handbook
and all other instructions and advice given by the manufacturer.
d. Reporting any defects promptly and using best endeavours to ensure any work covered
by the manufacturers warranty is carried out under that warranty. You must not
knowingly do, or omit, anything, which would prejudice or invalidate the warranty.
e. Ensuring reasonable security of the vehicle at all times, i.e. keys should never be left in
the vehicles whilst the vehicle is unattended. Wherever practicable the vehicle should be
locked and any fitted security device activated.
h. To observe all measures and precaution to avoid that which would deface or suffer to
be defaced the paintwork, body and coachwork of the vehicle.
F. Continuation of Representations and Warranties. All representations and warranties

contained in this Agreement (if any) shall continue in full force and effect after execution
of this agreement. If either party later learns that a warranty or representation that it made
is untrue, it is under a duty to promptly disclose this information to the other party in
writing. No representation or warranty contained herein shall be deemed to have been
waived or impaired by any investigation made by or knowledge of the other party to this
Agreement.
G. Indemnification of Attorneys Fees and out-of-pocket costs. Should any party materially
breach this agreement (including representations and warranties made to the other side),
the non-breaching party shall be indemnified by the breaching party for its reasonable
attorneys fees and out-of-pocket costs which in any way relate to, or were precipitated by,
the breach of this contract (including the breach of representations or warranties). This
provision shall not limit in any way the remedies either party may have otherwise
possessed in law or equity relative to a breach of this contract. The term "out-of-pocket
costs", as used in this contract, shall not include lost profits. In the Buyer Buyer violates
any of its obligations hereunder, the Seller has the option of rescinding this agreement
and taking back possession of the Assigned Vehicle as if this Agreement has not been
executed without any obligation on the part of Seller to reimburse the Buyer of any
amount.
H. Integration. This Agreement, including the attachments mentioned in the body as
incorporated by reference, sets forth the entire agreement between the Parties with regard
to the subject matter hereof. All prior agreements, representations and warranties, express
or implied, oral or written, with respect to the subject matter hereof, are hereby
superseded by this agreement. This is an integrated agreement.
I. Severability. In the event any provision of this Agreement is deemed to be void, invalid, or
unenforceable, that provision shall be severed from the remainder of this Agreement so as
not to cause the invalidity or unenforceability of the remainder of this Agreement. All
remaining provisions of this Agreement shall then continue in full force and effect. If any
provision shall be deemed invalid due to its scope or breadth, such provision shall be
deemed valid to the extent of the scope and breadth permitted by law.
J. Modification. Except as otherwise provided in this document, this agreement may be
modified, superseded, or voided only upon the written and signed agreement of the
Parties. Further, the physical destruction or loss of this document shall not be construed
as a modification or termination of the agreement contained herein.
K. Acknowledgements. Each party acknowledges that he or she has had an adequate
opportunity to read and study this Agreement, to consider it, to consult with attorneys if
he or she has so desired.
L. Exclusive Jurisdiction for Suit in Case of Breach. The Parties, by entering into this
agreement, submit to jurisdiction in Pasig City for adjudication of any disputes and/or
claims between the parties under this agreement. Furthermore, the parties hereby agree
that the courts of Pasig City shall have exclusive jurisdiction over any disputes between
the parties relative to this agreement.
M. Applicable Law. This Agreement shall be interpreted under, and governed by, the laws of
the Republic of the Philippines
IN WITNESS WHEREOF and acknowledging acceptance and agreement of the foregoing, Seller
and Buyer affix their signatures hereto this day of March, 2016.
PHILIPPINE PRUDENTIAL LIFE
INSURANCE COMPANY, INC.
(SELLER)
ACKNOWLEDGMENT
(BUYER)

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VEHICLE SALES AGREEMENT

D. Representations, Warranties, and Disclosures

F. Continuation of Representations and Warranties. All representations and warranties

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