CAR LEASE AGREEMENT
THIS CAR LEASE AGREEMENT (the “Agreement”) effective as of _________________(“Effective Date”) sets out the terms and conditions upon which ____________________________ being a car owner and having his address at __________________________, shall lease a Vehicle to __________________, being a Company duly registered under the laws of ____________________, with registered number ___________________ and having its registered address at _________________________ (together, the “Parties”).
WHEREAS, The Lessor is the registered owner of the vehicle.
WHEREAS, The Lessor is desirous of leasing the Vehicle to the Lessee on such terms as are set out in this Car Lease Agreement.
NOW, THEREFORE, IT IS HEREBY AGREED as follows:
- OBLIGATIONS OF THE LESSOR
It is agreed that the Lessor shall make the Vehicle available to the Lessee for the duration of this Car Lease Agreement. The Lessor will also drive the car as instructed by the Lessee.
- OBLIGATIONS OF THE LESSEE
The Lessee shall notify the Lessor on time on their intention to acquire the services of the Lessor. The Lessee shall clearly state their terms and specifications of work before the execution commences.
- LEASE RATES
It is agreed that the Lessee shall pay the Lessor _________________(enter the RATE). Said rates are to be paid net of any taxes or duties.
- DURATION OF AGREEMENT
4.1 This Car Lease Agreement shall commence on the date of its execution and shall affect any of the following occurrences at which point the Agreement will end:
4.2 The failure of the Lessee to pay any Lease Rates due under this Car Lease Agreement with ___________ days of them falling due provided that such delay was not expressly agreed between the Parties.
- The provision of 14(fourteen) days’ notice in writing by either Party.
- USAGE OF VEHICLE
The Vehicle will be used for advertising wraps only.
- WARRANTIES AND INDEMNITIES: It is agreed that:
6.1 Both Parties warrant that they have the necessary power and approval to enter into this Car Lease Agreement.
6.2 Both Parties warrant that they are not aware of anything in their reasonable control, which will or could have an adverse effect upon their ability to perform their respective obligations under this Car Lease Agreement.
6.3 The Lessee undertakes to pay all Lease Rates to the Lessor promptly and not unreasonably withhold payment.
6.4 The Lessor undertakes to insure and keep insured the Vehicle during the operation of this Car Lease Agreement.
6.5 The Lessor undertakes to meet the costs of all routine vehicle maintenance and repairs due to normal tear and wear and expressly excepting damage caused by a collision.
6.6 The Lessee agrees to hold harmless, indemnify, and to keep indemnified the Lessor from any losses whatsoever arising in connection with injury, death, or damages to the property caused by the Vehicle.
6.7 The failure or delay by either Party to enforce any term of this Agreement or act upon a breach of any term shall not constitute a waiver of their rights.
6.8 Both Parties warrant that they will not do anything to hinder or adversely affect the execution of the other Parties’ duties under this Car Lease Agreement
- GOVERNING LAW, DISPUTES AND ARBITRATION
7.1 This Car Lease Agreement is made under the exclusive jurisdiction of the laws of _________________
7.2 Disputes under this Car Lease Agreement shall be subject to the exclusive jurisdiction of the courts of _____________
7.3 Notwithstanding the above provision, both Parties agree that they will enter into arbitration subject to American Arbitration Rules in the event of a dispute.
- OTHERS
8.1 Any variation to this Car Lease Agreement shall be made in writing and signed by both Parties.
8.2 The headings in this Agreement are provided as reference only and do not form part of the Agreement.
8.3 The illegality of any clause shall have the effect of voiding that clause only and not the entirety of the Agreement.
8.4 This Agreement may be executed either in one original or in counterparts.
8.5 The terms of this Agreement shall be deemed binding on both Parties.
IN WITNESS WHEREOF, each of the Parties has executed this Car Lease Agreement:
________________________ ______________________
(Lessor’s signature) (Lessee’s signature)
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