When you sell an item, you’ll normally issue an equipment bill of sale. This is a legal document that is issued when dealing with any expensive piece of equipment, such as office tools, office machinery, kitchen equipment, and other electronics or communication goods, and it serves various legal functions, including taxation. In this article, we’ll be looking at different printable equipment bill of sale templates, and form. A general-purpose document that records the acquisition and sale of any valued piece of equipment is an equipment bill of sale.
Equipment Bill of Sale Form
An Equipment Bill of Sale Form is a sales document that certifies that a customer obtained equipment legally. The form can be filled out by any party as long as the information is correct. After the seller receives payment, whether, in the form of a credit/debit card charge, cash, or a certified check, the bill of sale is completed.
Equipment Bill of Sale Template
An equipment bill of sale form is a generic document that may be used to sell almost anything. Heavy-duty tools and machinery are traditionally characterized as those used for excavating, hauling, lifting, crushing, and manipulating other things or the ground. Equipment, on the other hand, might include anything that can be utilized to complete a task or achieve a goal, such as football equipment, scuba diving equipment, garage tools, medical instruments, and so on. The form is only one page long and includes room for the buyer and seller’s names, a description of the equipment, a description of how payment was (or will be) made, and the signatures of all parties involved. View different printable equipment bill of sale templates you can use.
Printable Equipment Bill of Sale
Equipment Bill of sale forms is mostly printable forms, so both the buyer and the seller can each have a copy. This form could be your evidence of purchase in case of future complications. Here is an example of a printable equipment bill of sale.
Where Can You Sell Your Equipment?
Although you can market expensive equipment online, it is safer to sell them in person. Equipment that can be sent quickly, on the other hand, can be sold online without ever having to speak with the buyer. As a seller, you can gain substantially from making an internet listing for your equipment, regardless of the sort of equipment you sell.
How to Use a Bill of Sale for Equipment
Transparency
Before making a purchase, inquire about the serial number of the item. Then, to ensure authenticity, call the manufacturer to determine if the serial number matches a record. It’s also a good idea to check the Stolen Register database to determine if the item has been reported stolen. Make sure to include the serial number when filling out the equipment bill of sale.
After you’ve confirmed that the equipment is genuine, you’ll want to make sure you’re buying from the right person. By requesting the original purchase receipt and/or bill of sale, you can accomplish this. If the equipment was purchased with the help of finance, obtain that documentation as well. It’s critical to understand that the equipment is fully paid for.
Testing & Inspection of Working Equipment
Give the equipment a thorough test run after you’ve completed the authenticity check to ensure it’s in working order. If the equipment is expensive and complex, it’s also a good idea to employ an inspector to do a thorough inspection before making a purchase. Despite the fact that inspections are pricey, knowing if the equipment is damaged or in bad shape can save you money on the purchase price by allowing you to use the knowledge as negotiating power.
Complete the sale
When it comes to paying an authorized seller or reseller of equipment, there is little to be concerned about. Consider just taking cash as a payment option when buying on popular platforms like Craigslist and Facebook Marketplace to reduce your chances of getting scammed. To the closing, bring two copies of a completed bill of sale, one for the seller and one for the buyer. Make sure the bill of sale has, the buyer and the seller’s name on it. As well as, serial number, date and year, mode, product type, and purchasing price before you sign.
Frequently Asked Questions
What is a bill of sale for equipment?
An Equipment Bill of Sale Form is a selling document that certifies that a buyer purchased equipment legally. After the seller receives payment, whether, in the form of a credit/debit card charge, cash, or a certified check, the bill of sale is completed.
Can you write a bill of sale yourself?
Yes, you can handwrite a bill of sale form if your state does not provide one. It is legitimate if the document has all of the required elements of a bill of sale and is signed by both parties and a notary. Some states require a bill of sale but others may not.
Does a Bill of Sale protect the seller?
The seller, in most cases, drafts the bill of sale, which contains the transaction’s specifics. It safeguards both the buyer and the seller in the event of a future disagreement.
How do you write a bill of sale for a piece of equipment?
- Firstly: Give the name of the buyer. Enter the name of the seller. Fill in the agreed-upon purchase price.
- Secondly: Fill up the blanks with a description of the tool(s) and/or the heavy or light machinery. Make. Model.
- Finally: Signatures… Signature of the Buyer. Date of Signature. Name as it appears on paper.
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