Equipment Bill of Sale Form
An equipment bill of sale is a form that is completed when an owner sells an item that is used to carry out an activity or operation. The seller can ask for money for the item, trade it, or gift it. Regardless of the type of exchange, the details must be written in the bill of sale, including the amount that the buyer paid for the item. Once the form has been filled out, the buyer pays or trades with the seller. After the funds have been transferred, both parties sign the document.
Examples of equipment that this form is used for:
- Exercise: Treadmills, weights, stair climbers
- Kitchen: Stoves, ovens, or refrigerators
- Medical: Defibrillator, EKG, or ultrasound machine
- Sports: Hunting weapons, fishing poles, or golf clubs
What is an Equipment Bill of Sale?
An equipment bill of sale is a legal document that outlines the details of how a transaction happened. It is typically used for valuable or rare items, although it can be completed for any object.
The bill of sale needs to have a description of the equipment being sold. This step is important so that the item can be identified after the sale. If the equipment is damaged or needs repair work, the seller must write about its condition in this section.
Additionally, the document must include the personal information of the buyer and seller so that both parties can be reached in the future. The payment type and amount need to be clearly stated, as well. Once the form has been completed, the buyer and seller must sign for it to be valid.