Free Service Agreement (Motor Vehicle Repossession)

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This Motor Vehicle Repossession Services Agreement is between a creditor and a company who will repossess a motor vehicle at the request of the creditor. This agreement sets out the terms of the arrangement including the territory in which the repossessions can take place, how repossession assignments will be received and the method of repossession. It also spells out how much the company will be paid for each repossessed vehicle and how custody of the vehicle will be retained. This type of business is loaded with problems and it is imperative that this business arrangement be clearly set out in writing. A written Motor Vehicle Repossession Services Agreement will be invaluable in the event of miscommunication or disagreements regarding the repossession methods and practices. This Motor Vehicle Repossession Services Agreement contains the following provisions: Parties: Names of the creditor who sold the motor vehicle and the company or agency who will repossess the vehicle; Term/Territory: Specifies the dates the agreement is in force and the specific territory in which the company may repossess a vehicle; Assignments: Specifies the representative of the creditor who may execute a repossession order to the company; Repossession Method: Sets out the exact method of repossession the company must adhere to and follow; Inventory/Custody of Vehicle: Specifies how any personal inventory within a vehicle will be maintained and who will retain and safeguard the repossessed vehicle; Signatures: Both creditor and agency (repossession company) must sign this agreement. Protect your rights and your property by purchasing this attorney-prepared form. This attorney-prepared package includes: General Information Instructions and Checklist Motor Vehicle Repossession Services Agreement State Law Compliance: This form complies with the laws of all states