Motorcycle Payment Agreement Contract Free Sample

Agreement Contract: Pursuant to this contract, Suzane Grosset Chaves (hereinafter acknowledged as “Payer”) agrees to make payments to Nelson Romero (hereafter acknowledged as “Payee”) by the subsequence arrangement in exchange for sale of a motorcycle. The law applies to this payment plan; therefore methods stated below shall be used in delinquent payment cases.

Pursuant to this agreement,

  • The payee agreed to receive a total payment of $ 4000 from the payer for purchase the motorcycle.
  • It is agreed that the payer will surrender a payment of $ 175 to the payee every 13th of each month from the date the agreement is made until the total amount of $ 4000 required has been made.

Moreover, the subsequent terms and conditions apply:

  • It is agreed that suppose an accident occurs, the motorcycle will be insured. However, the payee will reimburse the payer if the motorcycle is totaled and the insurance value is greater than the amount the payer had payed from the insurance claim money till that instance.
  • The payer covenants to proceed making the payments till the debt is fully settled whether or not the motorcycle is totaled and not useful anymore.
  • The payee covenants to hand over the title to the payer when the full debt is settled.

In signing this agreement, all parties agree and conform to the terms as described above. Changes to this agreement can be done exclusively by both parties and must be in writing. Each party will obtain a duplicate of this written agreement, and will be accountable for perpetuation of its terms.

______________________                    _____________________               ______________

Payer                                                           Signature                                        Date

______________________                    _____________________               ______________

Payee                                                           Signature                                        Date