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1. Parties: Identifies and provides full details of the lessor/seller and lessee/purchaser
2. Background: Outlines the context of the agreement and the parties' intentions regarding the lease-purchase arrangement
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Vehicle Details: Specific identification of the vehicle including make, model, year, VIN, registration number, and condition
5. Financial Terms: Details of the purchase price, lease payments, deposit, interest rate, and payment schedule
6. Term and Purchase Option: Duration of the lease period and conditions for exercising the purchase option
7. Delivery and Acceptance: Terms regarding vehicle delivery, acceptance inspection, and acknowledgment of condition
8. Title and Registration: Provisions regarding vehicle ownership, registration responsibilities, and transfer of title
9. Insurance Requirements: Mandatory insurance coverage, responsibility for insurance costs, and claims procedures
10. Maintenance and Repairs: Responsibilities for vehicle maintenance, repairs, and servicing obligations
11. Use of Vehicle: Permitted and prohibited uses of the vehicle, geographical restrictions, and mileage limitations
12. Default and Termination: Events of default, remedies, and termination procedures
13. Indemnification: Mutual indemnification provisions and allocation of risks
14. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution
1. Guarantor Provisions: Required when a guarantor is providing security for the lessee's obligations
2. Trade-In Details: Include when there is a trade-in vehicle involved in the transaction
3. Special Modifications: Required when the vehicle requires or includes special modifications or accessories
4. Fleet Provisions: Include when the agreement is part of a fleet leasing arrangement
5. Novation Rights: Include when either party may require the right to transfer the agreement
6. Cross-Border Use: Required when the vehicle may be used across state or international borders
7. Early Purchase Option: Include when offering specific terms for early purchase completion
1. Schedule 1 - Vehicle Specification: Detailed technical specifications and features of the vehicle
2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including dates, amounts, and allocation between principal and interest
3. Schedule 3 - Condition Report: Comprehensive report of the vehicle's condition at commencement including photographs
4. Schedule 4 - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
5. Schedule 5 - Maintenance Schedule: Required maintenance intervals and procedures as per manufacturer specifications
6. Schedule 6 - Return Conditions: Detailed conditions the vehicle must meet upon return if purchase option not exercised
7. Appendix A - Fair Wear and Tear Guide: Guidelines defining acceptable wear and tear versus damage
8. Appendix B - Required Documentation: List of required documentation including registration, insurance certificates, and maintenance records
Applicable Law
Business Day
Commencement Date
Condition Report
Default Event
Default Interest Rate
Delivery Date
Deposit
Early Termination Fee
End Date
Event of Default
Expiry Date
Fair Wear and Tear
Finance Amount
GST
Guarantor
Insurance Policy
Interest Rate
Lease Period
Lease Payments
Lessee
Lessor
License
Maintenance Schedule
Manufacturer
Manufacturer's Warranty
Option Fee
Option to Purchase
Outstanding Balance
Permitted Use
Purchase Option Date
Purchase Price
Registration
Regulatory Requirements
Residual Value
Scheduled Payments
Security Interest
Service Records
Term
Territory
Total Amount Payable
Trade-In Vehicle
Vehicle
Vehicle Documents
Vehicle Identification Number
Vehicle Registration Number
Vehicle Specifications
Definitions
Vehicle Description
Term and Commencement
Delivery and Acceptance
Payment Terms
Purchase Option
Title and Registration
Insurance
Maintenance and Repairs
Use Restrictions
Risk and Liability
Default
Termination
Vehicle Return
Registration and Licensing
Warranties
Indemnification
Assignment
Security Interest
Guarantees
Notices
Dispute Resolution
Force Majeure
Confidentiality
Governing Law
Privacy
GST and Taxation
Amendment
Severability
Entire Agreement
Automotive
Financial Services
Fleet Management
Transportation
Logistics
Car Rental
Corporate Services
Retail
Leasing Services
Asset Finance
Legal
Finance
Operations
Procurement
Risk Management
Compliance
Sales
Commercial
Fleet Management
Credit Assessment
Asset Management
Fleet Manager
Finance Manager
Legal Counsel
Contract Administrator
Risk Manager
Procurement Officer
Operations Manager
Commercial Director
Credit Manager
Compliance Officer
Sales Manager
Business Development Manager
Asset Manager
Finance Broker
Dealership Manager
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