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Truck Lease Agreement
"I need a Truck Lease Agreement for a fleet of three heavy-duty trucks to be leased to a construction company in Singapore, with specific provisions for maintenance responsibilities and an option to purchase after the initial 24-month lease period starting March 2025."
1. Parties: Identification of lessor and lessee with full legal names and addresses
2. Background: Context of the agreement and brief description of the transaction
3. Definitions: Key terms used throughout the agreement
4. Vehicle Description: Detailed specifications of the leased truck
5. Lease Term: Duration of lease and renewal options
6. Rental Payments: Payment terms, amounts, and schedule
7. Insurance Requirements: Mandatory insurance coverage and responsibilities
8. Maintenance and Repairs: Responsibilities for vehicle maintenance
9. Termination: Conditions for early termination and consequences
1. Sublease Rights: Terms and conditions under which the lessee may sublease the vehicle to third parties
2. Purchase Option: Terms and conditions for purchasing the vehicle at the end of the lease term
3. Driver Requirements: Specific qualifications and obligations required for drivers operating the leased vehicle
1. Vehicle Specification Schedule: Detailed technical specifications of the truck including make, model, year, and features
2. Maintenance Schedule: Required maintenance intervals and procedures for the vehicle
3. Insurance Schedule: Detailed insurance requirements and coverage limits
4. Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates
5. Condition Report: Initial condition assessment and documentation of the vehicle at lease commencement
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