An equipment bill of sale is a general-use document that records the purchase and sale of any valuable piece of equipment. It includes the names of the buyer and seller, a description of the equipment, payment details, and the signatures of all parties involved.Get Illinois bill of sale forms and learn how to transfer ownership of vehicles, boats, firearms, and other personal property from one party to another. Provide detailed information about the equipment being sold. Make: Model: Year: Serial Number: Other Information: 3. Date of the sale : Your bill of sale document should mention the date of the sale. An Equipment bill of sale form illustrates the transfer details involving a piece of equipment in a material testament for an agreedupon sum of money. You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets. A bill of sale will detail a transfer of property or sale of items between a seller and buyer. This type of document serves as legal evidence.