Truck Lease Agreement Template

This Truck Lease Agreement (the “Agreement”) sets out the terms and conditions upon which [Lessor.FirstName][Lessor.LastName] (the “Lessor”) is a Company duly registered under the laws of [Lessor.State] with registration number (Enter registered number) and having its registered address at [Lessor.StreetAddress][Lessor.City][Lessor.PostalCode], shall lease a Truck to:

​[Lessee.FirstName][Lessee.LastName] (the “Lessee”), being a Company duly registered under the laws of [Lessee.State] with registration number (Enter registered number) and having its registered address at [Lessee.StreetAddress][Lessee.City][Lessee.PostalCode] (together, the “Parties”).

WHEREAS: The Lessor is the registered owner of the Truck.

WHEREAS: The Lessor is desirous of leasing the Truck to the Lessee on such terms as are set out in this Lease Agreement, and the Lessee, for his part, is desirous of leasing the Truck from the Lessor on said terms.

NOW, THEREFORE, IT IS HEREBY AGREED as follows:

Truck Details

Subject to the terms and conditions of this Truck Lease Agreement (the “Lease”), LESSOR hereby leases to LESSEE and LESSEE hereby leases from LESSOR, the truck described below (hereinafter collectively referred to as the “Equipment Schedule”) complete with all additions, attachments, accessories and replacement parts described therein (hereinafter collectively referred to as the “Equipment”).

LESSEE’s failure to take delivery of any Equipment for any reason constitutes a material breach of the Lease.

Truck Details

Obligations of The Lessor

The Lessor shall make the Truck available to the Lessee for the duration of this Lease Agreement to be collected from the (Enter the place of collection) on the (Enter the date of collection).

Obligations of The Lessee

The Lessee shall make use of the Truck during the operation of this Lease Agreement in accordance with the terms of this Lease Agreement and will return the Truck to the (Enter the place of collection) on or before the (Enter the return date) with the same fuel level as when the Truck was taken. It is further agreed that the Lessee will pay the Lease Rates promptly and shall observe the terms and conditions set out in this agreement.

Lease Rates

The Lessee shall pay $(Enter lease rate).

Said rates are to be paid net of any and all taxes or duties.‌

Duration of Agreement

This Lease Agreement shall commence on the date of its execution and shall be in effect until any of the following occurrences, at which point the Agreement will end:

• The failure of the Lessee to pay any Lease Rates due under this Lease Agreement within 60 (sixty) days of them falling due, provided that such delay was not expressly agreed upon between the Parties.

• The provision of 14 (fourteen) days’ notice in writing by either Party.

• The Return Date.‌

Dates and Place of Collection and Return

The Truck shall be:

• Collected from (Enter location) on (Enter date).

• Returned to (Enter location) on (Enter date).

Usage of Truck

It is agreed that the purpose of the Truck shall be

private

commercial

(choose one) only.‌

Warranties

Vehicle Condition Warranty

The Lessor warrants that, at the time of delivery, the leased truck is in good working condition, complies with all relevant safety and environmental standards, and is suitable for its intended use.

Title Warranty

The Lessor warrants that they are the legal owner of the leased truck, and the vehicle is free from any liens or encumbrances that could affect the Lessee's use of the vehicle during the lease term.

Maintenance Warranty

The Lessor shall maintain the leased truck in good operating condition, performing all necessary repairs and maintenance during the lease term, excluding damages resulting from Lessee's misuse or negligence.

Indemnities

Indemnity for Breach of Warranties

The Lessor agrees to indemnify and hold the Lessee harmless from any losses, liabilities, costs, or damages incurred by the Lessee as a result of a breach of any warranty provided in this Truck Lease Agreement.

Indemnity for Third-Party Claims

The Lessee agrees to indemnify and hold the Lessor harmless from any third-party claims, including but not limited to personal injury or property damage, arising out of the Lessee's use or operation of the leased truck during the lease term.

Indemnity for Non-Compliance

The Lessee agrees to indemnify the Lessor for any costs or losses incurred due to the Lessee's failure to comply with local, state, or federal regulations related to the use, operation, or maintenance of the leased truck.

Variation

Any variation to this Truck Lease Agreement shall be made in writing and signed by both Parties.

Notice

Any notice served under this Truck Lease Agreement shall be made in writing and shall be considered served if it is handed to the other Party in person or delivered to their last known address or any other such address as the Party being served may have notified as his address for service.

All notices shall be delivered in English.

Governing Law, Disputes, and Arbitration

This Truck Lease Agreement is made under the exclusive jurisdiction of the laws of (Enter state).

Disputes under this Truck Lease Agreement shall be subject to the exclusive jurisdiction of the courts of (Enter state) and (Enter country).‌

Both Parties agree that in the event of a dispute, they will enter into arbitration before the International Chamber of Commerce before a single arbitrator whose decision shall be final.

IN WITNESS WHEREOF, each of the Parties has executed this Truck Lease Agreement:‌