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Commercial Vehicle Lease Agreement
"Need a Commercial Vehicle Lease Agreement for a fleet of 5 refrigerated trucks to be used for food delivery in Singapore, with a 3-year lease term starting March 2025 and including cross-border permissions for Malaysia."
1. Parties: Identification of lessor and lessee with full legal details
2. Background: Context of the lease arrangement and brief description of the transaction
3. Definitions: Key terms used throughout the agreement
4. Vehicle Description: Detailed specification of the leased vehicle(s)
5. Lease Term and Payments: Duration and payment terms including deposit requirements
6. Insurance Requirements: Mandatory insurance coverage and responsibilities
7. Maintenance and Repairs: Responsibilities for vehicle maintenance and repair
8. Use Restrictions: Permitted use and operational limitations
9. Termination: Conditions for early termination and consequences
1. Fleet Management: Additional terms for multiple vehicle leases when handling more than one vehicle
2. Driver Requirements: Specific driver qualification and training requirements for specialized vehicles or operations
3. Cross-Border Use: Terms for vehicle use in Malaysia or other countries when international travel is contemplated
1. Vehicle Specification Schedule: Detailed technical specifications of vehicle(s)
2. Payment Schedule: Breakdown of lease payments and payment dates
3. Maintenance Schedule: Required maintenance intervals and procedures
4. Insurance Schedule: Details of required insurance coverage
5. Condition Report: Initial vehicle condition documentation including photographs and inspection reports
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