About this document:
This lease agreement covers commercial vehicles. Though designed primarily to protect the interests of the owner, both sides can have a fair deal. Compliance with various statutory regulations including that of environment laws is a complicated exercise and any deviation by the lessee could put the owner in trouble.
Who will use this document?
Any one wanting to let out or take a vehicle on lease for commercial use; Use this agreement for leasing Trucks, Taxi, Luxury Cabs, Earth Moving Equipment, Trailers, Tempo; Travel Vans; Large volume and heavy cargo carriers etc.
Key features:
· all usual basic provisions to protect your interest;
· sub letting not allowed;
· explanatory notes to help understand various clauses;
· flexible to suit peculiar situations;
These documents include provisions for:
· compliance with existing rent laws;
· rent: paid monthly in advance;
· Security Deposit;
· Maintenance, insurance and statutory compliance;
· payment provisions: all payments the lessee might have to make;
· use allowed and territory defined;
· termination;
· inspection by Lessor; to view or show prospective lenders or buyers;
· Condition and Repairs:
· procedure after termination;
· dispute resolution;
· Miscellaneous
