INTERNATIONAL REGISTRATION PLAN, INC.
                                       Vehicle Lease Agreements
                                                    Angela Marbray, CA
                                            2021 IRP/IFTA Managers’ and 
                                              Law Enforcement Workshop
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                            What is a Vehicle Lease Agreement?
                        • A contract or arrangement in which the owner grants 
                           the use of equipment, with or without driver, for a 
                           specified period to an authorized carrier for use in 
                           the regulated transportation of property, in exchange 
                           for compensation.
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               Title 49,§376.12 Lease Requirements
              There are nine requirements that should appear in 
              all lease agreements.
              General exemptions can be found under Subpart C.
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                              Poll Question
              Does your jurisdiction have a checklist or provide 
              training for reviewing lease agreements?
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            1. Parties
            Authorized carrier and owner shall be identified and both 
            are required to sign the lease or by their authorized 
            representative.
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            2. Duration
            The lease shall specify the time and date or 
            circumstances on which the lease begins and ends.
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            3. Exclusive Possession and Responsibilities
            The authorized carrier lessee shall have exclusive 
            possession, control, and use of the equipment for the 
            duration of the lease.
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            4. Compensation
            The amount to be paid by the authorized carrier for 
            equipment and driver's services shall be clearly stated 
            on the face of the lease or in an addendum which is 
            attached to the lease. 
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