This VEHICLE LEASE AGREEMENT is made on the
, 20 , by
[name of owner] of [address of owner] (hereinafter known as the "Owner") and Churchill rent-a-car Ltd(hereinafter known as the "Company"). The Company and the Owner shall collectively be known herein as "the Parties".
The Owner will hand over the vehicle (hereinafter known as the “Acquired Vehicle”), under the terms and conditions set out below.
The Company will lease the Acquired Vehicle, offered by the Owner, under the terms and conditions set out below.
2. TERMS AND CONDITIONS
b. Advance Payment: (Due when Acquired Vehicle is delivered to the Company and equal to one month’s payment) On the day or within 7 working days.
c. Monthly payments: Monthly instalments will be due from the Company to the Owner on the day of each month for the duration of the Agreement.
The “down-payment”, “advance payment” and “monthly payments” are to be made by the Company to the Owner in cash, by certified check, or through another instrument acceptable to Owner. The Company must receive permission in advance from the Owner for use of a non-certified check in payment of the Lease Price.
D. Delivery of Acquired Vehicle and Conveyance of Title
1. Delivery of Acquired Vehicle. The Owner shall deliver the Acquired Vehicle to the Company on (the “Delivery Date”). If delivery is to be made at a date after the execution of this contract, it is Owner's duty to ensure that the Acquired Vehicle is delivered in the same condition as when last inspected by the Company (a vehicle check form will be given to owner).
2. Conveyance of Title. The Owner shall remain the registered keeper of the
Acquired Vehicle, and all documents stay in the Owner’s name.
E. Warranties, Wear and Tear & Damages:
1. Manufacturer’s Warranty: If the vehicle is under a manufacturer’s warranty, any issues covered under such a warranty will be reported to the Owner. It will then be the Owner’s responsibility to ensure the Acquired Vehicle is fit for purpose. The Owner will be required to compensate the Company for any lost revenue during the period the Acquired Vehicle is unavailable.
2. Wear and tear: The cost of any wear and tear incurred during the Term will be compensated for by the Company. Wear and tear is defined in Appendix 1.
3. Damages: Any damage to the Acquired Vehicle incurred during the Term will be compensated for by the Company or claimed under the Company’s insurance policy.
4. Mileage Declaration. The Owner hereby states that, at the date of this Agreement, the mileage of the Acquired Vehicle reads and to the best of Owner's knowledge it reflects the actual mileage of the vehicle described herein.
5. Company Representation. The individual signing this Agreement on behalf of the Company hereby represents to the Owner that he or she has the power and authority to do so on behalf of the Company.
F. Company's Responsibility - Insurance. The Company will pay for fully comprehensive insurance cover for the Acquired Vehicle. The Company’s fleet insurance will cover any persons over the age of 23 and hold a full, valid UK driving licence.
G. Continuation of Representations and Warranties. All representations and warranties contained in this Agreement (if any) shall continue in full force and effect after execution of this agreement. If either party later learns that a warranty or representation that it made is untrue, it is under a duty to...