Simple Commercial Truck Lease Agreement

Simple Commercial Truck Lease Agreement Template for Philippines

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Key Requirements PROMPT example:

"I need a Simple Commercial Truck Lease Agreement for leasing three 10-wheeler cargo trucks from March 2025, with cross-border operations between Manila and Cebu, including specific maintenance requirements and GPS tracking provisions."

Document background

The Simple Commercial Truck Lease Agreement is essential for businesses in the Philippines requiring temporary use of commercial vehicles without the capital investment of purchase. This document, governed by Philippine law, is commonly used when companies need to expand their fleet temporarily, test new routes, or manage seasonal demand fluctuations. The agreement includes critical elements such as vehicle specifications, lease duration, payment terms, maintenance responsibilities, and insurance requirements, all structured to comply with Philippine transportation regulations and the Civil Code. It serves as a comprehensive yet straightforward framework for commercial vehicle leasing transactions, providing clear guidelines for both lessors and lessees while ensuring legal compliance with local transportation and commerce laws.

Suggested Sections

1. Parties: Identification of the lessor and lessee with complete business/personal details and addresses

2. Background: Brief context of the agreement and the parties' intention to enter into a truck lease arrangement

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

4. Vehicle Description: Detailed description of the truck(s) including make, model, year, VIN, plate number, and current condition

5. Lease Term: Duration of the lease, commencement date, and termination date

6. Rental Payments: Payment terms, amounts, due dates, and payment methods

7. Security Deposit: Amount, terms, and conditions for return of the security deposit

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

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

10. Insurance Requirements: Required insurance coverage, responsibility for obtaining and maintaining insurance

11. Representations and Warranties: Basic warranties regarding vehicle condition and parties' authority to enter agreement

12. Default and Termination: Events of default and termination procedures

13. Return of Vehicle: Conditions and procedures for vehicle return at lease end

14. Governing Law: Specification of Philippine law as governing law and jurisdiction

15. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Sublease Rights: Include when sublease rights are to be granted to the lessee

2. Driver Requirements: Include when specific driver qualifications or restrictions need to be specified

3. Fuel Requirements: Include when there are specific fuel usage or payment arrangements

4. GPS Tracking: Include when GPS tracking systems are installed or required

5. Operating Hours Restrictions: Include when there are specific time restrictions on vehicle operation

6. Environmental Compliance: Include when specific environmental standards or certifications must be maintained

7. Purchase Option: Include when lessee is given the option to purchase the vehicle at lease end

8. Cross-Border Operations: Include when truck will operate across provincial or international borders

Suggested Schedules

1. Schedule A - Vehicle Specifications: Detailed technical specifications of the leased truck(s)

2. Schedule B - Condition Report: Detailed report of vehicle condition at lease commencement, including photographs

3. Schedule C - Maintenance Schedule: Required maintenance intervals and procedures

4. Schedule D - Insurance Requirements: Detailed insurance requirements and minimum coverage amounts

5. Schedule E - Rental Payment Schedule: Detailed breakdown of payment amounts and dates

6. Appendix 1 - Authorized Drivers: List of authorized drivers and their qualifications

7. Appendix 2 - Permitted Routes: Specified routes or areas where the truck may operate

8. Appendix 3 - Return Conditions: Detailed conditions required for vehicle return at lease end

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Transportation & Logistics

Construction

Manufacturing

Retail & Distribution

Agriculture

Mining

Waste Management

Food & Beverage

E-commerce

Industrial Services

Relevant Teams

Legal

Operations

Fleet Management

Procurement

Finance

Risk Management

Compliance

Supply Chain

Commercial

Logistics

Administrative

Relevant Roles

Fleet Manager

Operations Director

Logistics Manager

Transportation Coordinator

Procurement Manager

Legal Counsel

Risk Manager

Finance Manager

Compliance Officer

Supply Chain Manager

Commercial Director

Contract Administrator

Chief Operations Officer

Business Development Manager

Route Planning Manager

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