Transfer of Ownership Letter Template

Sample Example Format of Transfer of Ownership Letter / Certificate of material/ car etc in word/ .doc in India

TRANSFER OF OWNERSHIP OF GOODS UNDER BOND U/S 59 OF CUSTOMS ACT, 1962

Date : January 20, 2013

Seller Name & Address	:	M/s ABC Chemicals Ltd. 55, Rama Marg New Delhi – 110 015
Buyer’s Name & Address	:	M/s Rocket Sales Ltd. Vill. Khapoli P.O. & Dist. Navi Mumbai Pin – 420 145 (Maharashtra)

Dear Sirs,

Re : Sale Contract of 85.182 MT of Ethanol on Bond Transfer Basis

We confirm having agreed to transfer the ownership of the following goods to Rocket Sales Ltd., Khapoli, Navi Mumbai (Maharashtra) on Transfer of Bond Basis U/s 59 of Customs Act, 1962 on the following terms and conditions :

1	Materials	:	Ethanol
2	Quantity	:	85.182 MT
3	Name of Vessel	:	MV. GOLD
4	Sale Price	:	CIF + 2%
5	DUTY	:	Import Duty or other levy / duty to be paid by the Buyer
6	Clearing	:	The sale being on Transfer of Bond Basis. Buyer will make their own arrangements for obtaining delivery of the goods from the Custom and Port Authorities and will make payment of Custom Duty, Port charges, Wharfage, Handling & Transport charges for clearance of the material.
7	Payment	:	The buyer will make payment to the Seller at once on presentation of seller’s proforma invoice / bill.
8	General Conditions	:	Delivery and acceptance of the goods :
			a)	Title of goods will be transferred no sooner than the set of documents are handed over by the sellers to buyers duly endorsed in their favour.
			b)	Any amendments and supplements to the contract are valid only if they are agreed upon by both parties in writing and signed by authorised representative of the parties.
			c)	For any damage and deficiencies of goods caused in the process in transit, unloading due to accidents or nature of material, the purchaser should establish beyond reasonable doubt any damages and deficiencies of goods duly supported by documents after proper survey and proof of their having lodged initial report and claim with the Port Trust,  Steamer Co., claims as made would be entitled according to the settlement that may be arrived at between the seller and their foreign suppliers, and the same would be binding on the buyers too.
			d)	This sale is subject to force majeur’e clause
			e)	This contract is also subject to Government direction / regulations.
9	No Sales Tax will be charged and levied as the above goods are being delivered to the buyer in terms of transfer of Bond Basis, but if at a later date the Sales Tax Authorities assess Sales Tax and / or any penalty on this sale,  the same shall be paid by the buyer to seller forthwith demand, for this the buyer shall execute Sales Tax guarantee / indemnity bond. Any other Government liability pertaining to this sale will be borne by the buyer.
10	Kindly return us the duplicate contract duly signed and stamped by you as token of acceptance.

Accepted:

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