Car Rental Agreement (Monthly Basis)
1. Vehicle Details
Make: __________, Model: ________, Registration Number: ________, Color: _______ Engine #: ________________________, Chassis #: _________________________________ State: ________, Mileage at Start of Lease: ________
2. Rental Terms
Monthly Rental Price: ____________ Payment Terms: Payment to be made in advance, monthly rent should be paid in 1st week of the monthly period. Payment Mode: Bank Transfer / Cheque / Cash Rental Period: Monthly
3. Maintenance and Repairs
Routine maintenance (such as oil changes, filter replacements, and regular servicing) must be performed every three (3) months. • The Lessee must share invoices and service records with the Lessor after every maintenance session. • If major repairs are needed due to normal wear and tear, the Lessor will be responsible unless otherwise agreed. • If damages occur due to negligence, misuse, or accidents caused by Lessee’s driver, all repair costs will be borne by the Lessee.
4. Insurance
The vehicle shall be insured by the Lessor and tracker to be installed. In case of any accident or damage, the Lessee must inform the Lessor immediately and assist in insurance claims processing and take photos of the vehicle immediately.
Insurance company will cover the maximum loss and the remaining shall be covered by the Lessee. In case of repairing period the rent of the vehicle must go on as planned.
5. Usage Conditions
The vehicle must only be used for lawful business purposes by authorized employees of the Lessee with valid driving license. Subleasing, transferring, or lending the vehicle to third parties is strictly prohibited without written consent from the Lessor. Transporting illegal items, or participating in unlawful activities using the vehicle is not allowed. Outstation is not allowed without prior notice; additional charges will be applied. All the E-challans received against the vehicles will be paid by the driver of the respective vehicle.
6. Return of Vehicle
Upon notice period completion of termination or expiry of the agreement, the vehicle must be returned: In clean condition with all accessories and documentation intact, Any damage will be assessed and charged to the Lessee.
8. Termination
Either party may terminate this agreement by providing a thirty (30) days written notice. In case of violation of any terms, the Lessor reserves the right to terminate the agreement immediately without refund. This contract will be valid for 3 years, until terminated explicitly.
9. Indemnity
The Lessee agrees to indemnify and hold harmless the Lessor against any claims, liabilities, damages, human or physical loss or expenses arising out of the use of the vehicle during the rental term.
10. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Islamic Republic of Pakistan. Lessor will not be responsible in terms of any physical and mental loss. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. Lessor (Owner) Signature: __________________ Name: Umair Khan CNIC: 4220196832173 Date: __________________ Lessee (Company Representative) Signature: __________________ Name: __________________ CNIC: __________________ Date: __________________