A commercial vehicle lease contract is that type of a contract which is framed when the owner of a certain vehicle agrees to put that vehicle on commercial lease for certain duration of time and in return for a certain fixed sum of money. Such contracts consist of the details of the parties, the vehicle and the legally binding terms and conditions that are mutually decided and agreed upon by the involved parties. If you are looking for a reference contract, then the following given sample shall be very useful for you.
Sample Commercial Vehicle Lease Contract:
This is a commercial vehicle lease contract that has been made effective on 17th June 2012
Termination date of contract: 17th Dec 2012
Effective period: 6 months
The details of the parties are given as follows.
Name: Mr. Greg Mathews
Residential address: S-56, third floor, Peter enclave, London
Contact number: 4034209473
Name: Mr. Fred Billy
Residential address: A-78, fifth floor, J Street, London
Contact number: 4093409342
Details of vehicle:
Truck name: Maddy Trucks
Total lease amount: $1800
Total lease amount per month: $300
TERMS AND CONDITIONS:
- The LESSOR agrees to put the vehicle on lease for a period of 6 months.
- The LESSEE agrees to pay the lease amount within the first week of each month to the LESSOR in cash.
- The LESSEE is not allowed to take the vehicle out of the Country without the permission of the LESSOR.
- The LESSEE cannot use the vehicle for any purpose other than commercial.
- The LESSEE shall pay for the gas of the vehicle on his own.
- The LESSEE shall be responsible for the repair and servicing of the vehicle.
- The LESSOR can demand to inspect the vehicle anytime during the contract term.