RENTAL AGREEMENT

mukiialice64
Agreements
February 25, 2024

RENTAL   AGREEMENT

THIS AGREEMENT is hereby entered into on this ………………day of …….……………. Two Thousand and ……………………………

BETWEEN

  1. [Name of Rental Car Business] with and address of [insert address] hereinafter referred to as (“the Lessor”)

AND

  1. [Name of Lessee] whose address is [insert address] hereinafter referred to as (“the Lessee”)
  2. Vehicle Description: The Lessor hereby rents to the Lessee the following vehicle: [insert vehicle description].
  3. Rental Period: The Lessee agrees to rent the vehicle for the period starting on [insert start date] and ending on [insert end date], unless otherwise agreed upon by both parties. The rental period may be extended upon payment of the rental fee at the rate of BDS $ 150per day, subject to availability of the vehicle.
  4. Rental Fee: The Lessee agrees to pay the rental fee of BDS $ 150 per day but is subject to change. Payment can be made via cash or FCIB transfer. A deposit of [insert deposit amount] is required upon pick-up of the vehicle and will be refunded upon return of the vehicle, provided that the vehicle is returned in the same condition as when rented.
  5. Driver: The Lessee must present a valid driver’s license and be at least [insert minimum age] years of age to rent the vehicle. The Lessee acknowledges that only the signatory of this Agreement is authorized to drive the vehicle and that any unauthorized driver is prohibited from operating the vehicle.
  6. Condition of the Vehicle: The Lessee agrees to return the vehicle in the same condition as when rented, normal wear and tear excepted. The Lessee is responsible for any damage caused to the vehicle while in their care, including any loss or damage to the vehicle’s accessories, keys, or documents. In the event of an accident, the Lessee agrees to immediately inform the Lessor and to provide all necessary information and documentation.
  7. Fuel: The Lessee must return the vehicle with a full tank of fuel. If the vehicle is not returned with a full tank of fuel, the Lessee will be charged the cost of refueling the vehicle, plus an additional service fee.
  8. Smoking: The Lessee acknowledges that smoking is strictly prohibited inside the vehicle and that a cleaning fee will be charged if evidence of smoking is found inside the vehicle.
  9. Insurance: The vehicle is covered by the Lessor’s insurance policy. The Lessee acknowledges that they are responsible for any deductible or excess fees associated with the insurance policy.

11: Cancellation: The Lessor reserves the right to terminate this Agreement immediately if the Lessee breaches any of the terms and conditions outlined in this Agreement, including smoking in the vehicle, allowing an unauthorized driver to operate the vehicle, or failing to return the vehicle in the same condition as when rented. In the event of such termination, no refund of the rental fee or deposit will be issued.

  1. Indemnification: The Lessee agrees to indemnify and hold the Lessor harmless from any and all claims, damages, liabilities, or expenses arising out of the Lessee’s use or possession of the vehicle.
  2. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of Barbados.
  3. Dispute Resolution: Any dispute arising out of or relating to this Agreement shall be resolved through mediation administered by the American Arbitration Association in accordance with its Commercial Mediation Procedures. If the dispute cannot be resolved through mediation, the parties agree to submit to the exclusive jurisdiction of the courts located in Barbados.
  4. Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral.

By signing below, the Lessee acknowledges that they have read and understood the terms of this Agreement and agree to be bound by its terms.

Lessee Signature: ____________________________ Date: _______________

 

Lessor Signature: _____________________________ Date: _______________

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