Equipment Bill of Sale

by Practical Law Commercial Transactions

A Standard Document that parties to an equipment sale transaction can use to convey title to the equipment from the seller to the buyer. This Standard Document is designed for flexibility, suitable for use with a separate purchase and sale agreement in a transaction between equipment finance parties (see Standard Document, Equipment Sale Agreement) or as a standalone instrument in simpler scenarios, such as an end-of-lease transfer under a lessee purchase option (see, for example, Standard Document, Equipment Lease Supplement (Pro-Lessor): Section 15). It provides optional language allowing the parties to structure the conveyance as a warranty bill of sale or as a quitclaim bill of sale (transferring the equipment on an "AS IS, WHERE IS" basis without representations). This Standard Document also addresses key provisions such as further assurances, governing law, and the incorporation of a primary purchase and sale agreement by reference.