What does an agreement car mean?
1 Answers
An agreement car refers to a vehicle where the license plate is registered under someone else's name, typically the agreement holder, while the vehicle ownership is registered under the other party involved in the agreement. The term 'agreement car' is not a standardized expression and generally indicates that the ownership of the vehicle is determined through an agreement between the two parties. Below is relevant information: Article 18, Paragraph 1 of the 'Motor Vehicle Regulations' stipulates: 'When the ownership of a registered motor vehicle is transferred, the current owner shall apply for a transfer registration with the local vehicle management office within 30 days from the date of delivery.' According to this regulation, the current owner must complete the transfer registration within 30 days of ownership transfer. However, this is an administrative requirement rather than a validity requirement, meaning failure to complete the transfer registration does not affect the validity of the motor vehicle sales contract. Article 50 of the 'Tort Liability Law' states: 'If the parties have transferred the motor vehicle through sale or other means and delivered it but have not completed the ownership transfer registration, and a traffic accident occurs for which the motor vehicle is at fault, the insurance company shall compensate within the limits of the compulsory motor vehicle insurance liability. Any insufficient amount shall be borne by the transferee.' This provision confirms that the motor vehicle sales contract remains valid even if the transfer registration is not completed.
