Does all Equipment Require a Bill of Sale?Īlthough you are not necessarily obligated to produce a bill of sale when selling equipment, utilizing one to transcribe the arrangement is wise when transferring anything with more copious than usual sale amounts. When exchanging goods and equipment with higher dollar amounts, having written documentation is a secure method of covering your bases to prove ownership and emphasize relinquished responsibility for the item sold. The contract stipulates the purchase price and identifies all participating parties involved in the transaction and produces accurate information regarding the equipment and sale terms. An Equipment bill of sale form illustrates the details of the transfer involving a piece of equipment in a material testament for agreed upon sum of money.
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