DMV RIDES PARTNERSHIP
This DMV RIDES PARTNERSHIP, (“this Agreement”) is entered into by and between DMV RIDES, LLC, with a business address of [ADDRESS] herein referred to as (“The Company”)
[NAME] with an address of [ADDRESS] herein referred to as (“Partner”) on [DATE] (Effective Date).
The Company and the Partner shall be individually referred to as “A Party” and jointly as “Parties” to this contract.
Whereas, the Company rents vehicles from partners to be used in the Company’s platform;
NOW, THEREFORE, in consideration of the premises, and of the mutual promises and undertakings herein contained, the parties, intending to be legally bound, do agree as follows:
- The Agreement
DMV rides Company (Company) agrees to partner with [Name of Partner] (Partner) under the terms contained in this agreement.
As part of the agreement, the Partner shall rent out their vehicle to DMV Rides. DMV Rides shall rent out the vehicle through their platform ‘TURO’ or rent it out directly to renters who work with the Company.
The partner shall give the vehicle to the Company 8 days prior to the beginning of contract start date. The start date will be on the 1st of January.
The Company will be responsible for the management of the day to day operations of the vehicle as long as the vehicle is under the Company’s possession.
Any outstanding tickets/tolls accrued when the vehicle is not being rented by DMV Rides is the responsibility of the Partner.
DMV Rides is responsible for any tickets/tolls accrued while being rented out.
- Requirements to become a partner
For an individual to become a partner, the following thresholds must be met:
- Partner must have a fully operational vehicle;
- The vehicle mileage should not be more than 130K;
- The vehicle should be in perfect condition without any pre-existing damage;
- The vehicle’s maintenance should be up to date;
- The vehicle should not have any engine lights;
- The vehicle should have Insurance. For Brand new vehicles, GAP insurance is highly suggested.
- The vehicle should have a tracking device and a lockbox (DMV Rides can give resources for both devices)
- Copies of Legal documents of the vehicle must be presented for verification purposes
- Tags and registration should be up to date.
- Term and Termination
- This agreement is renewable and shall be effective for a period of 3 months unless earlier terminated according to the terms of this Agreement.
- The Partner is not obligated to continue with the partnership after the first three months have lapsed. After 3 months, the parties can reconsider the contract, may extend the contract or may have other contract options at that time.
- Either Party to this Agreement may terminate this Agreement upon a written notice of termination to the other Party. Unless otherwise mutually agreed to in writing, upon the termination of this Agreement, any arrangement for services then in effect will immediately terminate.
- Payments and Profit sharing
- Initial Cost
Partner shall give to the company an initial cost of $300 which will be used for the following;
- installation of trackers,
- toll transponders,
- Initial detailing
- Any other miscellaneous task to enable the renting out and smooth running of the vehicle renting process.
- Car Payments
- DMV Rides will not pay any outstanding car payment balance or insurance of the vehicle. If Partner would like to buy a new vehicle, they will be responsible for the car payment and insurance.
- If for any reason, the vehicle is to be taken off the platform for an extended period of time and cannot be rented, the owner of the vehicle is responsible for the car payments and insurance of that vehicle.
- All profits made shall be shared on a 50/50 basis between the Company and the Partner. The Company shall be entitled to 50 % of the total profits made. The Partner shall be entitled to 50 % of the total profits made.
- Regular Maintenance
- DMV Rides shall be responsible for the regular maintenance of the vehicle as long as the vehicle is in its possession. However, DMV will not be responsible for the maintenance if partner is in possession of the vehicle.
- While the vehicle is being rented/managed by DMV Rides, DMV will fix any damage incurred up to what Company deems standard.
- The maintenance for the wear and tear of the vehicle is only up to a certain amount. DMV rides will cover any maintenance related to regular wear and tear under $250. Anything beyond that amount would be the responsibility of the owner.
- The Owner of the vehicle (Partner) will be responsible for regular maintenance when the vehicle is not being managed by DMV Rides. If an item of the vehicle needs to be replaced or the vehicle becomes faulty while it is not being rented or being managed by DMV Rides, the owner of the vehicle will be responsible.
- Access to the Vehicle
After partnering with us, it is required that the Company have access to the vehicle and manage the vehicle on a full time basis (Around the calendar access: 7 days a week, 24hrs a day, we can rent it out) unless the partner gives a 7 days advance notice to DMV Rides of their intention to reposes the vehicle.
If the owner needs the vehicle for vacations or any other reason, DMV Rides will allow them to have the vehicle, and will take the vehicle out of the platform.
- Registration and taxes
It is the responsibility of the partner to ensure that registration and taxes are up to date. Partner will be responsible for the yearly registration (up-to-date car tags) and making sure that property taxes and others of the like are up to date.
- Legal Documents
Upon partnering with DMV Rides, the Company would need copies of Legal documents of the vehicle. The following shall be required:
- Proof of insurance
- Up to date registration documents
- Current warranty if possible
- a car fax report
Partner is required to have insurance for the vehicle. For brand new vehicles, it is advised you get gap insurance.
If the vehicle is totaled when it is in a parking lot while it is not actively being managed or rented by DMV Rides, the Company will not be responsible for any damage to the vehicle.
If the vehicle is totaled while in the Company’s possession, the cost of the vehicle itself would be taken care of by the Company. If it is more than the remainder of the cost of the loan of the vehicle (anything outside of that or over that amount), the owners will receive the payoff amount. If the payout is less than what is owned by the owners, the owners shall be responsible for that cost.
DMV Rides will not be responsible for any deductible if it is coming out of Partner’s insurance.
DMV Rides will handle the whole claims process if anything happens (accidents or anything of that nature) when the vehicle is being rented.
- Confidentiality and non-disclosure
Neither Party will use, copy, adapt, alter or part with possession of any information of the other which is disclosed or otherwise comes into its possession under or in relation to this Agreement and which is of a confidential nature. This obligation will not apply to information which the recipient can prove was in its possession at the date it was received or obtained or which the recipient obtains from some other person with good legal title to it or which is in or comes into the public domain otherwise than through the default or negligence of the recipient or which is independently developed by or for the recipient.
- Intellectual property
The Parties acknowledge and agree that they both have intellectual property to be protected. Each party agrees to respect the intellectual property of the other by not infringing any intellectual property including, but not limited to, copyright and trademark rights.
- The Parties acknowledge and agree that the partnership formed between them has been formed legally and in good faith.
- Partner agrees not to engage with any of the Company dealing in similar business with the Company. Partner cannot put their vehicle on any other rideshare or peer-to-peer rental platforms while DMV Rides is managing their vehicle.
- The Company uses several rental platforms. Therefore, Company has the ability to use any rideshare platform to rent on.
This contract represents the entire agreement between the two parties and supersedes any previously written or oral agreement in place. This agreement may be modified at any time, provided there is written consent of both parties to this contract.
The parties agree that if any portion of this contract is found to be void or unenforceable, it shall be struck from the record and the remaining provisions will retain their full force and effect.
This contract shall be governed, interpreted, and construed in accordance with the laws of ___________________ (Country/State)
In Witness Whereof, this Agreement is duly executed by the duly authorized representatives of the parties as set forth below:
Name: DMV RIDES, LLC.
Name of Representative: _________________________________
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