2 Hire-Purchase Agreement If you cannot afford to buy goods for cash, you may be able to buy them on credit. The most lucrative is vehicle hire purchase business, such as; car, keke napep, okada, truck etc. 5) … PROCEDURES OF PURCHASE: 1) We need TATA or Ashok Leyland (preferably TATA BUS). This is not a contract of sale but contract of bailment as the hirer merely has an option to buy the goods. The sample proposals were created using Proposal Pack. AGREEMENT FOR HIRE PURCHASE OF A VEHICLE WITH A FINANCIER AND A GUARANTOR THIS AGREEMENT made on this _____ day of _____ between _____ a company registered under the Companies Act, 1956 and having its registered office at_____ hereinafter referred to as "the Owner" (which expression shall unless repugnant to the context or meaning thereof include its authorised representatives, … 4) Comprehsive Insurance and necessary registration to be done by owner before movement to Lagos. It's a No no. It is hereby agreed that the hire purchase price for the said tricycle (Keke Napep), is N855, 000.00 (Eight Hundred and Fifty five Naira) which sum shall be liquidated by a weekly installment of N15,000.00 (Fifteen Thousand Naira), payable by hirer to the owner or his appointed agent. First grade keke is between #350,000-#400,000 and hire purchase is between #700,000-#800,000 There are many names given to keke, like keke Maruwa, keke napep, trycycle etc. Hire purchase agreement or contract is an agreement of purchase where the goods or assets are let out on hire by the seller/finance company (creditor) to the user of goods/ assets i.e. The fee should factor in depreciation of the keke and interest to cover your initial capital cost. The auto rickshaw is a common form of urban transport, both as a vehicle for hire and for private use, in many countries around the world. The Keke driver will run the Keke on a hire purchase written agreement of N900,000 for a year and 6 months. To take care of themselves . ibadan keke napep hire purchase. Prior to the ban of okada and keke napep in the state, workers prefer going to work in public transport, as well as through the use of Okada because they tend to reach their places of work and home, faster than when they go in their own cars. This template includes a clause whereby the parties expressly reserve their common law rights. Key components of the agreement include: The buyer doesn’t have full ownership of the car until he/she makes full payment. No categories; Archives. Hire-Purchase Agreements (Or Instalment Sale Agreements) ‘Speak to us. Poverty rate occasioned by unemployment has consumed a frighten dimension in Nigeria. 3) Our Certified Auto Mechanics and Drivers to conduct a full AUTO DUE DILLIGENCE before purchase by owner. The guarantor will take full responsibility of the remaining balance on behalf of the tenant. How To Start Hire Purchase Business: Okada, Keke Napep, Car, Danfo Bus, Trucks . At the end of the year, he would have remitted N520,000 to your account. hire purchase customer (Hirer). Hi guys in have 2 keke maruwas in surulere Lagos. A hire purchase contract is based on agreements by the parties involved. It could be a friend who has an established business and has some forms of experience already. This was to serve as a strategy to convert area boys from idlers to a productive work force. The obligations of a guarantor include paying the rent on time and avoiding doing damage to the property. units of green colour tricycles with the inscription Keke NAPEP as a commercial means of transportation in the Federal Capital Territory FCT Abuja. vehicle purchase agreement prepare your own legal forms Sep 19, 2020 Posted By Edgar Wallace Library TEXT ID f55c6de1 Online PDF Ebook Epub Library you fill out a a bill of sale is often used with a purchase agreement to conclude the sale and transfer the title to the purchaser either a purchase agreement … Some will even use your property and fail to make payment when due giving lots of excuses. Give your property to someone you know than someone you feel can pay plan. So help you whatever you believe in. 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