Trailer Rental Contract
Trailer Rental Contract
This Trailer Rental Contract ("the Contract") is entered into by and between [YOUR NAME], having its principal place of business at [Your Company Address] ("the Lessor") and [CLIENT'S NAME], having its principal place of business at [Client's Address] ("the Lessee"), collectively referred to as "the Parties".
1. Description of Trailer
The Lessor hereby rents to the Lessee and the Lessee hereby rents from the Lessor, the trailer ("Trailer") described as follows:
Make: [Make]
Model: [Model]
Year: [Year]
Vehicle Identification Number (VIN): [VIN]
Condition: The Trailer is in good working condition, and any existing damages are documented in an attached inspection report.
2. Rental Term
2.1 The rental term shall commence on [Start Date] and shall continue until [End Date], unless earlier terminated as provided herein. The Lessor agrees to deliver the Trailer to the Lessee on or before the [Start Date], and the Lessee agrees to return the Trailer to the Lessor on or before the [End Date].
2.2 The Parties may extend the rental term by mutual agreement in writing. Any such extension shall be subject to the terms and conditions of this Contract.
2.3 If the Lessee wishes to extend the rental term, the Lessee shall notify the Lessor in writing at least [Number of Days] days before the End Date. The Lessor may, in its sole discretion, accept or reject the request for extension.
2.4 If the Lessee fails to return the Trailer to the Lessor on or before the End Date, the Lessee shall be considered to be in default of this Contract, and the Lessor may, at its option, terminate this Contract and take possession of the Trailer without further notice to the Lessee.
2.5 If the rental term is extended, all terms and conditions of this Contract shall remain in full force and effect during the extended term, unless otherwise agreed upon in writing by the Parties.
2.6 The Lessee shall have the option to purchase the Trailer at the end of the rental term at a price to be determined by the Lessor and the Lessee.
2.7 The Lessee shall have the right to terminate this Contract before the End Date upon giving [Number of Days] days' written notice to the Lessor. In such case, the Lessee shall return the Trailer to the Lessor on or before the termination date specified in the notice.
2.8 The Lessor shall have the right to terminate this Contract before the End Date upon giving [Number of Days] days' written notice to the Lessee. In such case, the Lessee shall return the Trailer to the Lessor on or before the termination date specified in the notice.
2.9 Upon the expiration or earlier termination of this Contract, the Lessee shall return the Trailer to the Lessor in the same condition as received, ordinary wear and tear excepted.
3. Rental Payment
3.1 The Lessee agrees to pay the Lessor a monthly rental fee of [Rental Fee] per month, payable in advance on or before the [Payment Date] of each month. The first payment shall be made on [Start Date].
3.2 The Lessee shall make all rental payments by [Payment Method]. Payments made by check shall be made payable to [Payee Name] and delivered to [Your Company Address]. Payments made by electronic transfer shall be made to the Lessor's bank account at [Bank Name], account number [Account Number].
3.3 Late payments shall incur a late fee of [Late Fee Amount]. The late fee shall be charged for each day that the payment is overdue, starting from the first day after the Payment Date. The Lessee shall also be responsible for any bank charges incurred due to a returned or dishonored payment.
3.4 If the Lessee fails to make a rental payment within [Number of Days] days after the Payment Date, the Lessor may, at its option, terminate this Contract and take possession of the Trailer without further notice to the Lessee.
3.5 The Lessee shall not withhold or deduct any amount from the rental payment without the prior written consent of the Lessor. All rental payments shall be made in full, without any set-off, counterclaim, or deduction.
3.6 The Lessor may, at any time, increase the rental fee upon giving [Number of Days] days' written notice to the Lessee. Any such increase shall apply to rental payments due after the effective date of the increase.
3.7 Upon the termination or expiration of this Contract, the Lessee shall pay to the Lessor any outstanding rental payments, late fees, and other amounts due under this Contract.
4. Security Deposit
4.1 Upon execution of this Contract, the Lessee shall deposit with the Lessor a security deposit of [Security Deposit Amount]. The security deposit shall be held by the Lessor as security for the performance of the Lessee's obligations under this Contract.
4.2 The security deposit shall be returned to the Lessee within [Number of Days] days after the termination of this Contract, less any deductions for damages, if applicable. The Lessor shall provide the Lessee with an itemized statement of any deductions made from the security deposit.
4.3 The security deposit shall not be considered as payment of rent or as a limit on the Lessor's damages in case of a breach of this Contract by the Lessee.
5. Use & Operation of the Trailer
5.1 The Trailer shall be used only for the following purposes: [Specify Permitted Uses]. The Lessee shall not use the Trailer for any illegal purposes or in violation of any laws or regulations.
5.2 The Lessee shall operate the Trailer in a safe and lawful manner, and shall comply with all applicable laws and regulations governing the use and operation of the Trailer.
5.3 The Lessee shall not make any alterations or modifications to the Trailer without the prior written consent of the Lessor.
6. Insurance
6.1 The Lessee shall maintain comprehensive insurance coverage on the Trailer throughout the term of this Contract. The insurance policy shall cover all risks normally insured against, including but not limited to fire, theft, and collision.
6.2 The Lessee shall provide the Lessor with a copy of the insurance policy upon request. The insurance policy shall name the Lessor as an additional insured and shall provide for notice to the Lessor in case of cancellation or non-renewal of the policy.
7. Repairs and Maintenance
7.1 The Lessee shall be responsible for all repairs and maintenance of the Trailer, including but not limited to routine maintenance, oil changes, and tire rotations.
7.2 The Lessee shall promptly notify the Lessor of any damage to the Trailer and shall provide the Lessor with access to the Trailer for inspection and repair purposes.
8. Indemnity
8.1 The Lessee shall indemnify and hold harmless the Lessor from and against any and all claims, damages, losses, liabilities, and expenses, including but not limited to attorney's fees, arising out of or in connection with the use or operation of the Trailer by the Lessee.
9. Default
9.1 If the Lessee fails to comply with any of the terms or conditions of this Contract, the Lessor may, at its option, terminate this Contract by giving written notice to the Lessee.
9.2 In the event of termination, the Lessee shall return the Trailer to the Lessor immediately. The Lessee shall also be liable for any damages or losses suffered by the Lessor as a result of the Lessee's default.
10. Governing Law
10.1 This Contract shall be governed by and construed in accordance with the laws of the State of [State]. Any dispute arising under or in connection with this Contract shall be subject to the exclusive jurisdiction of the courts of [State].
11. Entire Agreement
This Contract constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral, relating to such subject matter.
This Contract may not be amended or modified except by a written instrument executed by both Parties.
Signed by:
[Your Name]
[Date Signed]
[Lessee's Name]
[Date Signed]
