A Swap Agreement is a co-signed document that records the agreed terms of a private vehicle swap: both vehicle descriptions, VINs, odometer readings at handover, any cash adjustment, and the handover date. It is not required by any state's transport authority, but it creates a written record of what was agreed if any dispute arises after the swap. SwapU generates a Swap Agreement through the platform when both parties progress to the agreement stage.
A Swap Agreement is a private document signed by both parties. It typically includes: - Full details of both vehicles: make, model, year, colour, registration number, VIN/chassis number - Odometer readings for both vehicles at the date of handover - The agreed market value for each vehicle - The cash adjustment amount (if any), who pays it, and when - The agreed handover date, time, and location - Both parties' full names, addresses, and signatures
No. The Queensland government requires only the Form 3 (Transfer of Registration) for a vehicle transfer. The Swap Agreement is a private document, not a government form.
The Swap Agreement provides clarity and a written record if either party later disputes what was agreed. For example: - If one party claims the odometer was lower than recorded - If a cash adjustment is disputed - If one party claims a specific accessory or modification was included in the swap and the other disputes it
Without a written agreement, disputes rely entirely on each party's recollection of a verbal conversation.
When both parties in a SwapU swap progress to the agreement stage, SwapU generates a Swap Agreement populated with the details from both listings. Both parties review and co-sign it through the platform. This creates a timestamped record of the agreed terms.
Each vehicle in the swap also has its own Bill of Sale, which documents the agreed value of that vehicle. The agreed value on the Bill of Sale is used to calculate transfer duty. SwapU generates a Bill of Sale for each vehicle alongside the Swap Agreement.
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