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Truck Lease Agreement Form Template for Malaysia

A comprehensive legal document governed by Malaysian law that establishes the terms and conditions for leasing commercial trucks between a lessor and lessee. The agreement covers essential aspects including vehicle specifications, lease duration, payment terms, maintenance responsibilities, insurance requirements, and operational conditions. It ensures compliance with Malaysian transportation regulations, including the Road Transport Act 1987 and Commercial Vehicles Licensing Board Act 1987, while protecting the interests of both parties in the lease arrangement.

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What is a Truck Lease Agreement Form?

The Truck Lease Agreement Form is a vital commercial contract used in Malaysia when businesses need to lease commercial trucks without the capital commitment of purchasing. This document is essential for companies requiring transportation capabilities while maintaining financial flexibility. It comprehensively addresses vehicle specifications, financial terms, operational requirements, and regulatory compliance under Malaysian law, including adherence to the Road Transport Act 1987 and related regulations. The agreement protects both lessor and lessee interests by clearly defining responsibilities, maintenance obligations, insurance requirements, and liability allocation, while ensuring compliance with local transportation and commercial vehicle licensing requirements.

What sections should be included in a Truck Lease Agreement Form?

1. Parties: Identification of the lessor and lessee with complete business details and registration numbers

2. Background: Context of the agreement and brief description of the business relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Vehicle Description: Detailed specifications of the truck(s) being leased, including make, model, year, and registration numbers

5. Lease Term: Duration of the lease, commencement date, and conditions for renewal

6. Rental Payments: Payment terms, amounts, frequency, and method of payment

7. Security Deposit: Details of security deposit amount, terms of hold, and conditions for return

8. Delivery and Return: Conditions for vehicle delivery and return, including inspection procedures

9. Use of Vehicle: Permitted uses, territorial limitations, and operational restrictions

10. Maintenance and Repairs: Responsibilities for vehicle maintenance, repair procedures, and cost allocation

11. Insurance Requirements: Mandatory insurance coverage and responsibility for premiums

12. Liability and Indemnification: Allocation of risks and responsibilities between parties

13. Default and Termination: Events of default and termination procedures

14. Governing Law: Specification of Malaysian law as governing law and jurisdiction

15. Execution: Signature blocks and execution requirements

What sections are optional to include in a Truck Lease Agreement Form?

1. Multiple Vehicle Provisions: Additional terms for leases involving multiple trucks, used when more than one vehicle is being leased

2. Sublease Terms: Terms governing sublease rights and conditions, included when sublease is permitted

3. Cross-Border Operations: Additional requirements for trucks operating across international borders, included for international operations

4. Driver Requirements: Specific requirements for drivers if included in the lease arrangement

5. Fuel Management: Terms related to fuel cards or fuel management systems if provided

6. GPS and Tracking Systems: Terms regarding installation and use of tracking systems if required

7. Replacement Vehicle: Terms for provision of replacement vehicles during maintenance or breakdown

8. Purchase Option: Terms for potential purchase of the vehicle at lease end if this option is offered

What schedules should be included in a Truck Lease Agreement Form?

1. Schedule 1 - Vehicle Specifications: Detailed technical specifications of each leased vehicle

2. Schedule 2 - Rental Payment Schedule: Detailed breakdown of all payments, including base rent and additional charges

3. Schedule 3 - Maintenance Schedule: Required maintenance intervals and procedures

4. Schedule 4 - Condition Report: Initial condition report with photographs and noted defects

5. Schedule 5 - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements

6. Appendix A - Permitted Drivers: List of authorized drivers and their qualifications if applicable

7. Appendix B - Operating Territories: Defined geographical areas where the vehicle may operate

8. Appendix C - Return Conditions: Detailed specifications for acceptable vehicle condition upon return

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Malaysia

Document Type

Rental Agreement

Cost

Free to use

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