WORK AND PAY AGREEMENT

IN RESPECT OF

KIA MORNING
(2010 MODEL)

REG No.:
CHASSIS NUMBER:

BETWEEN

(SELLER)

AND

(BUYER)

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 AGREEMENT
THIS AGREEMENT is made on the ______day of _________, 2020 BETWEEN
_________________________ (Hereinafter referred to as ‘the Seller’) of the one
part AND ________________________ (Hereinafter referred to as ‘the Buyer’) of
the other part.

WHEREAS the Seller hereby agrees to sell and the Buyer hereby agrees to buy
the Vehicle described in the Schedule hereto as it is (hereinafter referred to as ‘the
Vehicle’) subject to the terms and conditions hereinafter stated.

1. The conditional price of the Vehicle shall be _______________________.

2. The conditional sale price shall be paid by the Buyer by paying a weekly
sale of ______________________________ to be paid latest by 4pm
EVERY Monday of the week; COMMENCING FROM
__________________ until date of final payment.

3. However, should the Buyer default or delay payment two weeks in a row
without justification and prior consent of the Seller at any time during this
agreement, payment will from that moment onwards be made every two (2)
days. The amount will therefore be calculated for each day and the
corresponding amount for 2 days of work paid every two (2) days by 4pm.
Any further default or delay after this arrangement will result in the
termination of the contract at the option of the Seller.

4. The Buyer shall work a probationary period of one (1) month within which
Seller shall assess his behaviour and performance to determine his

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 suitability to comply with this agreement. If the Buyer is seen to breach
any of the conditions within this period or is deemed to be of poor
behaviour and/or lacking the drive to perform, the Seller will reserve the
sole right to discontinue this agreement. In the event of this happening,
payments made within that period shall be non-refundable.

5. The Seller shall, upon the execution of this Agreement give possession of
the Vehicle to the Buyer, but ownership of the Vehicle shall only be
transferred after the final payment by the Buyer.

6. The vehicle shall be handed to the Buyer by the Seller with a Three Month
Comprehensive commercial insurance cover.

7. Legal title in the Vehicle shall remain vested in the Seller until the Buyer
has paid the last installment of the amount stated in clause 1 herein.

8. The Buyer shall, while he retains possessory title of the vehicle, keep it in
good and substantial state of repair and shall bear all costs and risks
attaching thereto.

9. All maintenance and repairs related to problems shall be the responsibility

of the Buyer. However, the Seller may choose to bear the cost where the
Buyer has difficulty raising needed funds. This however does not absorb
the Buyer of the responsibility as the Seller is not obliged to bear any such
costs. Where the Seller bears the cost however, the cost in such a case shall
be added to the cost of the Vehicle outstanding to be paid by the Buyer.

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10. All payments shall be made as deposit into a bank account provided by the
Seller to the Buyer which shall bear the name of the Seller or its lawful
representative.

11. The Buyer shall not, while the Seller remains the legal owner of the
Vehicle, without the consent of the Seller:
a) Remove the Vehicle from the Greater Accra Region.
b) Hold himself out as legal owner of the Vehicle.
c) Make any alteration whatsoever to the Vehicle, provided however
that any such unauthorized alteration which improves the state of the
vehicle as long as legal title in the Vehicle remains vested in the
Seller.
d) Dispose of the Vehicle in any manner whatsoever.
e) Not pledge, charge, or assign the Vehicle in any manner
whatsoever.
f) Register the Vehicle as taxi or use it for any other purpose besides
being used for UBER/BOLT and related services without prior
notification to the Seller and approval by Seller.
g) Give the vehicle to another person to drive whether for work or any
other purpose.

12. The Seller or his duly authorized representative shall have the authority to,
at all times summon the Buyer to a place of chosen for the purpose of
inspecting the condition of the Vehicle, and where appropriate recommend
certain repairs or correctional actions (including change of engine oil and
filter every four (4) weeks, and additional change of plugs every three
months) to keep the Vehicle in good working condition. Seller may insist

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 on being present or require documentary proof for any maintenance
activity.

13. The Buyer shall give immediate notice to the Seller of any change in his
residential address or the premises where the vehicle is kept.

14. The Buyer shall not use or permit the Vehicle to be used in a manner
contrary to any laws, statutes or regulations of the Republic of Ghana for
the time being in place.

15. The Buyer shall keep the Vehicle free from any distress, execution or other
legal processes.

16. The Buyer shall undergo maintenance and repairs in respect of the vehicle
at a mechanical workshop to be agreed upon by both parties.

17. Immediately upon the execution of this Agreement, the Buyer shall, in the
name of the Seller during the continuance of this Agreement keep the
Vehicle comprehensively insured against damage or loss by theft, fire and
such other risks as the Seller may specify with the Seller noted as the loss
payee.
a. The Buyer shall, upon the expiration of the initial three months
insurance cover insure the Vehicle with SIC Insurance Ghana
Limited and shall pay the premiums as they fall due and such other
sums as may be required to keep the insurance valid.
b. The Buyer shall not do or permit to be done any act which might render
the insurance invalid. The responsibility lies on the Buyer to be

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 acquainted with any such acts that may render the insurance invalid and
will be held fully liable in the event of any such occurrence.
c. In the event of the Vehicle being damaged during contract period, all
monies paid under the policy of insurance shall be applied to repair the
damage.
d. In the event the Vehicle being damaged beyond repair or stolen or lost,
the money paid under the policy of insurance shall be applied in
replacing the vehicle and the agreement shall continue to run or in the
alternative as may be agreed by the parties applied to said insurance
claim in paying the balance remaining on the conditional sale price, and
if there is any surplus left thereafter, such shall be paid to the Buyer.

18. The Buyer may terminate this Agreement by giving the Seller a week's
notice in writing. The Buyer must pay any outstanding installment which
are in arrears at the time when he gives the notice of termination.

19. The Seller may, at his sole discretion, terminate this Agreement and shall
be entitled to take immediate possession of the Vehicle upon one-week
notification to the Buyer if the Buyer commits a breach;

a. of any of the provisions of this Agreement (including not taking good

care of the vehicle) or is unable to meet installment payments (including
delays in payment) up to two (2) consecutive installment cycles in the
period of the contract without prior agreement with buyer except where
the Vehicle is undergoing major repairs in which case the consent and
approval of seller or his legal representative shall be sought.

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 b. However, should the Buyer default or delay payment two weeks in a
row without justification and prior agreement of the Seller at any time
during this agreement, payment will from that moment onwards be
made every two (2) days. The amount will therefore be calculated for
each day and the corresponding amount for 2 days of work paid every
two (2) days by 4pm. Any further default or delay after this arrangement
will result in the termination of the contract at the option of the Seller.

c. If the Seller becomes entitled to immediate possession of the Vehicle

within the first one year of this contract, the Buyer shall become entitled
to 10% of the total amount contributed if the Vehicle is in good working
condition and 15% of the total contributed if the Seller becomes entitled
to immediate possession of the Vehicle after the first year of this
contract. However, if at the time the Seller takes possession of the
Vehicle major faults are found on it, the cost of repairs shall be
deducted from the 10% /15% entitlements of the Buyer. If the cost of
repairs exceeds the 10%/15%, the Seller may rely on the surety. Where
the cost exceeds the surety amount the Buyer will get nothing.

20. Legal title in the Vehicle shall become vested in the Buyer immediately (or
soon thereafter) upon the payment of the last installment less all reasonable
deductions for administrative expenses, and the Seller shall take steps to
transfer the legal title in the vehicle to the Buyer.

21. The Seller will provide the Buyer with one home-used engine for the
vehicle during the pendency of this Agreement.

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22. The Seller’s discretion not to apply the indicated sanctions or overlooking
of any breach, or allowing other measures to the benefit of the Buyer (such
as a payment holiday) may not be interpreted to mean a change in the terms
of this contracts upon any future occurrence.

23. The Guarantor for the Buyer shall be liable for all breaches and liabilities
incurred by the Buyer during the pendency of this Agreement.

IN WITNESS whereof the Parties hereto have hereunto set their respective hands
and names the day and year first above written.

SIGNED BY THE SELLER HEREIN ______________________________

(Name, Contact No., Signature, Date)

In the presence of: ______________________________________________

SIGNED BY THE SELLER WITNESS HEREIN
(Name, Contact No., Signature, Date)

SIGNED BY THE BUYER HEREIN ______________________________

(Name, Contact No., Signature, Date) PICTURE OF BUYER

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In the presence of:___________________________________________________
SIGNED BY THE GUARANTOR HEREIN
(Name, Contact No., Signature, Date) PICTURE OF GUARANTOR

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