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1. Parties: Identification of the lessor and lessee with full legal names, registration numbers, and addresses
2. Background: Context of the agreement and brief description of the parties' business relationship
3. Definitions: Definitions of key terms used throughout the agreement
4. Vehicle Description: Detailed description of the semi truck(s) including make, model, year, VIN, and current condition
5. Lease Term: Duration of the lease, commencement date, and termination conditions
6. Rental Payments: Payment amount, schedule, method of payment, and late payment penalties
7. Security Deposit: Details of security deposit amount, terms of hold, and conditions for return
8. Insurance Requirements: Mandatory insurance coverage requirements and responsibilities for maintaining insurance
9. Maintenance and Repairs: Responsibilities for vehicle maintenance, repair procedures, and cost allocation
10. Use of Vehicle: Permitted uses, territorial limits, and restrictions on vehicle usage
11. Driver Requirements: Qualifications and requirements for drivers operating the vehicle
12. Return Conditions: Conditions the vehicle must meet upon return, including wear and tear standards
13. Default and Remedies: Events of default and available remedies for both parties
14. Governing Law: Specification of Nigerian law as governing law and jurisdiction
15. Signatures: Execution block for all parties
1. Purchase Option: Terms for potential purchase of the vehicle at lease end, include when lessee may want to eventually own the vehicle
2. Sublease Provisions: Terms governing potential subleasing of the vehicle, include if subletting might be desired
3. Cross-Border Operations: Regulations for international travel, include if vehicle will operate across Nigerian borders
4. Environmental Compliance: Specific environmental requirements and certifications, include for newer vehicles or environmentally sensitive operations
5. GPS and Tracking Systems: Terms regarding installation and use of tracking systems, include if vehicle monitoring is required
6. Fuel Cards and Policies: Terms for fuel card usage and fuel cost allocation, include if fuel cards will be provided
7. Training Requirements: Specific driver training requirements, include for specialized equipment or operations
1. Vehicle Specification Schedule: Detailed technical specifications of the vehicle including dimensions, capacity, and features
2. Condition Report: Detailed report of vehicle condition at lease commencement with photographs
3. Maintenance Schedule: Required maintenance intervals and procedures
4. Insurance Schedule: Detailed insurance requirements and minimum coverage amounts
5. Payment Schedule: Detailed breakdown of all payments including base rent, maintenance reserves, and other charges
6. Approved Drivers List: List of authorized drivers and their qualifications
7. Operating Territories: Maps or descriptions of approved operating areas
Applicable Laws
Authorized Driver
Business Day
Commencement Date
Confidential Information
Default Event
Delivery Location
Deposit
Environmental Laws
Fair Wear and Tear
Force Majeure
Gross Vehicle Weight
Insurance Requirements
Lease Period
Lease Payments
Maintenance Schedule
Operating License
Operating Territory
Optional Services
Parties
Permitted Use
Regular Maintenance
Rental Period
Return Condition
Return Location
Semi Truck
Service Records
Termination Date
Third Party Insurance
Total Loss
Vehicle Documentation
Vehicle Inspection Report
Vehicle Registration
Vehicle Specifications
Term and Renewal
Delivery and Acceptance
Lease Payments
Security Deposit
Insurance
Maintenance and Repairs
Operating Conditions
Compliance with Laws
Title and Registration
Driver Requirements
Vehicle Use Restrictions
Environmental Compliance
Indemnification
Default and Remedies
Early Termination
Return Conditions
Assignment and Subletting
Force Majeure
Confidentiality
Warranties
Liability Limitations
Dispute Resolution
Notices
Governing Law
Entire Agreement
Amendments
Severability
Risk of Loss
Inspection Rights
Record Keeping
Payment Terms
Default Interest
Territory Restrictions
Vehicle Substitution
Termination Rights
Transportation & Logistics
Manufacturing
Construction
Agriculture
Oil & Gas
Mining
Retail Distribution
Waste Management
Food & Beverage Distribution
Industrial Equipment
Automotive
Import/Export
Legal
Operations
Fleet Management
Procurement
Finance
Risk Management
Compliance
Supply Chain
Commercial
Contracts Administration
Fleet Manager
Operations Director
Logistics Manager
Transportation Manager
Commercial Director
Procurement Manager
Legal Counsel
Risk Manager
Finance Manager
Compliance Officer
Supply Chain Manager
Contract Administrator
Chief Operations Officer
Head of Transportation
Business Development Manager
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