At some point in your paper selling career, you may want to update your sample Bill of Sale to one that is more current. No one can really blame you if you want to keep up with the times, but you need to make sure you are updating it according to current law. The longer you keep it, the older it becomes and the more difficult it is to keep up with.
It’s simple enough to take care of this situation with a couple of simple steps. All you need to do is print out the cover page from your paper company’s website and paste it over the top of the sample Bill of Sale. The purpose of doing this is to keep it current according to the current laws. Once you have printed this out, then you will simply need to make sure it is signed off on by both parties.
There is no real need to rush it though. You don’t need to do anything that would need two signatures before you can actually start working. Give the original owner’s time to get in touch with the company and get everything signed. Once you do this, all you need to do is sign the Bill of Sale and let it be. If you delay this any further, you could be in for some trouble.
There are some other legal protections that are in place to ensure you have completed your duties. Many states require that you both use the same name when you are working together. They also demand that you keep track of all purchases and go through with all the paperwork correctly.
Some paper sellers will sell their companies to other businesses, and you should be careful to be aware of this. They may not work as hard as they used to when they had full ownership, and you may end up getting fewer paper returns than you need to when this happens. Some will just drop the bill of sale into the main receipt and issue new copies of the cover page to everyone on a regular basis.
Because they no longer have a personal credit history, you will need to do some checking up on how many times a bill of sale has been signed by every person who has come through the doors. To do this, you can hire a research service to do this for you. They will give you an accurate breakdown of all sales by each party, and any errors in the cover page you are using.
Keep in mind that even though there are many differences between the way it works in different states, most of them still rely on the same cover page. You may want to review this first, so you can be sure it is actually applicable in your area. If you can get it printed at the company that is printing your paper, it will save a lot of time.
Paper sellers are used to changes in legislation. This is something you will soon realize too. You may not need to take care of this, but keeping up with the requirements for your paper purchase is usually the only real thing that needs to be done.