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Contract Vehicle Leasing
"I need a Contract Vehicle Leasing agreement for my logistics company in Saudi Arabia to lease a fleet of 20 commercial delivery vans starting March 2025, with maintenance included and specific provisions for multiple authorized drivers per vehicle."
1. Parties: Identification of the lessor and lessee with full legal names and details
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: Specific description of the leased vehicle including make, model, year, VIN, and condition
5. Lease Term and Payments: Duration of lease, payment amounts, payment schedule, and method of payment (structured to ensure Sharia compliance)
6. Delivery and Return: Terms for vehicle delivery at start of lease and return conditions at end of lease
7. Use of Vehicle: Permitted use, territorial limits, and restrictions on vehicle usage
8. Maintenance and Repairs: Responsibilities for vehicle maintenance, repair procedures, and cost allocation
9. Insurance Requirements: Mandatory insurance coverage and responsibilities in line with Saudi regulations
10. Lessee Obligations: Key responsibilities and obligations of the lessee during the lease term
11. Lessor Obligations: Key responsibilities and obligations of the lessor during the lease term
12. Default and Remedies: Events of default and available remedies for both parties
13. Termination: Conditions and procedures for early termination or end of lease
14. Governing Law: Confirmation of Saudi law application and Sharia compliance
15. Notices: Process and requirements for formal communications between parties
1. Additional Drivers: Terms for allowing additional authorized drivers, used when multiple drivers are permitted
2. International Travel: Terms for using vehicle outside Saudi Arabia, if permitted
3. Purchase Option: Terms for potential purchase of vehicle at end of lease, if offered
4. Replacement Vehicle: Terms for providing replacement vehicle during repairs or maintenance
5. Modification and Customization: Terms regarding permitted vehicle modifications, if any
6. Fleet Management: Additional terms for corporate/business lessees leasing multiple vehicles
7. Green Vehicle Provisions: Special terms for electric or hybrid vehicles, if applicable
1. Schedule 1 - Vehicle Specification: Detailed technical specifications and features of the vehicle
2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including lease payments and other charges
3. Schedule 3 - Condition Report: Detailed report of vehicle condition at delivery, including photographs
4. Schedule 4 - Maintenance Schedule: Required maintenance intervals and procedures
5. Schedule 5 - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
6. Schedule 6 - Return Conditions: Detailed specifications for acceptable vehicle condition upon return
7. Appendix A - Authorized Drivers Form: Form for registering and approving additional drivers
8. Appendix B - Accident Report Form: Standard form for reporting accidents or damage
Authors
Transportation
Logistics
Financial Services
Automotive
Corporate Services
Construction
Retail
Manufacturing
Energy
Healthcare
Hospitality
Real Estate
Mining
Agriculture
Technology
Legal
Finance
Procurement
Operations
Fleet Management
Risk Management
Compliance
Administration
Supply Chain
Facilities Management
Contract Administration
Islamic Banking
Fleet Manager
Procurement Manager
Operations Director
Legal Counsel
Finance Manager
Risk Manager
Compliance Officer
Contract Administrator
Transportation Manager
Supply Chain Manager
Chief Financial Officer
Chief Operating Officer
Facilities Manager
Business Development Manager
Administrative Manager
Vehicle Leasing Specialist
Account Manager
Islamic Finance Specialist
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