The lease agreement that leased owner operators have to sign should:
- Identify all the equipment that is involved in the lease procedure;
- TO be in written, and to clearly identify the parties involved, as well as signed by the equipment owner and the authorized carrier;
- State that the carrier has exclusive possession and control of the leased vehicle;
- Specify the carrier’s legal obligation to have and maintain cargo insurance and public liability insurance pursuant to current state and federal regulations;
- Describe terms under which the loading and the unloading will be performed;
- Define who is responsible for repairing and maintaining the equipment;
- Contain terms and conditions under which the operations will be performed (permit costs, base plates, licenses, fuel costs, fuel tax reporting);
14. Check The Truck That You Want To Lease And Be Prepared For The Payoff
Right before you make a contract and lease a truck, you will have to check out every detail about the truck.
