B1 Motorbike Share – Buy Shared Ownership Contract

£19.50

If required, this agreement can cater for some of the sharers not to be owners of the motorbike, providing that they will pay a share of the running costs and not simply a mileage rate.

This agreement is very comprehensive and, amongst other issues, deals with the following:

  • The ownership of the motorbike and any accessories or equipment related to the motorbike
  • Management of the motorbike and decision-making
  • Costs splitting procedures
  • Reservation procedures for the use of the bike
  • The allocation of liability between the sharers in the event of damage or accidents
  • Prohibitions and requirements regarding the use of the motorbike
  • Procedures for admitting new sharers, and for terminating the agreement, including how to sell a share in the motorbike

Description

We recognise that the arrangements for issues such as reservations, cost splitting and security requirements will need to be different for each motorbike share club depending on the individual circumstances. To allow for such flexibility many parts of the agreement can easily be personalised to meet the needs of a particular sharing group. For example, the agreement provides for all of the running costs of the motorbike to be split between the sharers. The default position is that the various running costs are split equally, except for fuel which is paid for by each sharer depending on how much fuel they have used. It is possible to alter the agreement if required so that costs are divided between the sharers in a different manner.

The agreement comes with extensive Drafting and Guidance Notes which fully explain the operation of the agreement and contain example additional or replacement clauses which may be used to personalise the agreement. The Drafting and Guidance Notes also contain practical tips and useful documents for use within the motorbike share scheme.

For further information about motorbike sharing please see the Vehicle Share Factsheet, and the motorbike sharing page.

Please Note...

All of the contracts available from this site have been drafted by our own team of lawyers.

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