A bill of materials is comparable to a receipt when you buy goods from a store, like a sales slip or proof of purchase, it can however also act as a sales agreement since a bill of sale may contain additional info, such as warranty information,
How do I write a bill of sale in Word?
When making a simple bill of sale in Word, it's best to find a suitable document template that you can modify. This will save you time and you might not forget to add anything. When you are selling simple products or high-priced items, a simple or detailed bill of sale may suffice, depending on the item for sale and state requirements.
What to include in a bill of sale?
The most simple bill of sale should include the following;
- date of the transaction;
- the date that indicates the transfer of ownership;
- description of item(s) sold and its cost;
- buyer details;
- seller details;
- payment details (currency, bank accounts, cash, etc);
- the estimated value of transferred goods;
- the final total includes sales tax;
- location of goods;
- plans for delivery;
- as-is /warranty, which means the buyer accepts the item in its current state, including any defects that might not be immediately apparent.;
- Witness, third-party signature, for example, when it's a notarized bill.
Besides those, it can be important to customize your document, depending on if you are making a bill of sale for a car, a bill of sale for boats, or for something else. When trading items, describe the transaction on the bill of sale with details about each of the items being exchanged, and estimated amounts. You might want to add unique characteristics of the item you are selling, such as vehicle identification number (VIN), odometer reading, registration number, date of production, etc.
Especially when the goods you sell or buy are high price items, and you think the bill of sale acts as a contract, it's worth considering hiring a lawyer if the bill of sale contains all necessary critical information. Download this printable bill of sale template now!
For more? Just search on our website and have instant access to hundreds of free and premium legal agreements, business documents, forms, letters, reports, plans, resumes templates used by professionals in your industry.
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