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Commercial Vehicle Lease Agreement Template for India

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Key Requirements PROMPT example:

Commercial Vehicle Lease Agreement

"I need a Commercial Vehicle Lease Agreement for my e-commerce company to lease a fleet of 10 delivery vans in Mumbai, with a 3-year lease term starting January 2025, including provisions for GPS tracking and replacement vehicles during maintenance."

Document background
The Commercial Vehicle Lease Agreement is essential for businesses in India seeking to lease commercial vehicles without the capital expenditure of purchasing them outright. This document is designed to comply with Indian legislative requirements, including the Motor Vehicles Act 1988, Indian Contract Act 1872, and relevant state transport regulations. It is typically used when a business needs to expand its fleet, replace existing vehicles, or manage seasonal transportation demands. The agreement comprehensively covers vehicle specifications, lease terms, financial obligations, maintenance responsibilities, insurance requirements, and compliance matters. It provides legal protection for both lessor and lessee while ensuring clear documentation of rights, obligations, and operational parameters for the leased vehicles.
Suggested Sections

1. Parties: Identification of lessor and lessee with complete legal names, registration details, and addresses

2. Background: Context of the agreement and brief description of the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement

4. Vehicle Details: Comprehensive description of the leased vehicle(s) including make, model, year, registration number, and chassis number

5. Lease Term and Renewal: Duration of the lease, commencement date, and renewal terms

6. Rent and Payment Terms: Lease payment amount, payment schedule, security deposit, and payment methods

7. Delivery and Return: Terms regarding vehicle delivery, condition at delivery, and return conditions

8. Use of Vehicle: Permitted uses, territorial limits, and operational restrictions

9. Maintenance and Repairs: Responsibilities for vehicle maintenance, repairs, and servicing

10. Insurance Requirements: Mandatory insurance coverage and responsibilities for maintaining insurance

11. Compliance and Documentation: Requirements for permits, licenses, and regulatory compliance

12. Liability and Indemnification: Allocation of risks and responsibilities between parties

13. Default and Remedies: Events of default and available remedies

14. Termination: Grounds for termination and post-termination procedures

15. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

Optional Sections

1. Multiple Vehicle Provisions: Additional terms for leases involving multiple vehicles - include when more than one vehicle is being leased

2. Driver Requirements: Specific requirements for drivers - include when lessor provides or restricts drivers

3. Sublease Provisions: Terms governing subleasing - include if subleasing is permitted

4. GPS and Tracking Systems: Requirements for vehicle tracking - include when vehicles are equipped with tracking systems

5. Fuel Management: Provisions for fuel cards or fuel management - include when fuel management is part of the service

6. Replacement Vehicle: Terms for providing replacement vehicles - include when replacement service is offered

7. Purchase Option: Terms for vehicle purchase at lease end - include if purchase option is available

8. Cross-Border Usage: Terms for interstate or international travel - include if cross-border usage is permitted

Suggested Schedules

1. Schedule 1 - Vehicle Specifications: Detailed technical specifications of each leased vehicle

2. Schedule 2 - Rental Payment Schedule: Detailed breakdown of payments, including base rent and additional charges

3. Schedule 3 - Delivery Inspection Report: Condition report and photographs at time of delivery

4. Schedule 4 - Maintenance Schedule: Required maintenance intervals and procedures

5. Schedule 5 - Insurance Requirements: Detailed insurance coverage requirements and minimum limits

6. Schedule 6 - Permitted Drivers: List of authorized drivers and their qualifications

7. Appendix A - Vehicle Usage Guidelines: Detailed guidelines for vehicle operation and maintenance

8. Appendix B - Damage Assessment Guide: Standards for assessing vehicle damage and wear and tear

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses




































Relevant Industries

Transportation

Logistics

E-commerce

Manufacturing

Construction

Retail

Agriculture

Mining

Waste Management

Food Distribution

Healthcare Supply Chain

Tourism and Travel

Event Management

Industrial Equipment

Courier Services

Relevant Teams

Legal

Operations

Fleet Management

Procurement

Finance

Risk Management

Compliance

Supply Chain

Commercial Operations

Contract Administration

Relevant Roles

Fleet Manager

Operations Director

Logistics Manager

Transport Manager

Procurement Manager

Commercial Director

Legal Counsel

Compliance Officer

Finance Manager

Risk Manager

Supply Chain Manager

Business Owner

Contract Administrator

Chief Operations Officer

Vehicle Leasing Specialist

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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