VEHICLE LEASE AGREEMENT

2. The Second Party has approached the First Party to take the said vehicle on lease/rent for transportation purposes, and the First Party has agreed to provide the vehicle to the Second Party under the terms and conditions mutually agreed upon.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. Lease of Vehicle
   The First Party hereby leases the above-mentioned vehicle to the Second Party for the purpose of transportation of goods/materials as per requirement.


2. Payment Terms
   Both parties have mutually discussed and agreed that the Second Party shall pay the First Party at the rate of ……/- (Rupees …………. only) per Metric Ton of load transported, inclusive applicable GST and Billing will be made on monthly basis and payment will be made accordingly.


3. Tenure of Agreement
   This lease shall be valid for a period commencing from ..................... to ....................., including the remuneration of the driver. The agreement period may be extended further if both parties mutually agree by a separate written agreement.


4. Repair and Maintenance
   The First Party/Owner shall bear the cost of all major and minor repairs, servicing, and lubricants required during the usage of the vehicle by the Second Party.


5. Compliance with Motor Vehicle Acts
   From the date of this agreement, the Second Party shall be entitled to ply, manage, and operate the vehicle strictly as per the provisions of the Motor Vehicles Act and Rules thereunder.


6. Non-Violation of Terms
   Both parties agree not to violate any terms and conditions mentioned in this agreement.

7. Liabilities in Case of Accidents
   The Second Party shall not be held responsible or liable if the vehicle meets with any accident causing loss to the vehicle, property, or life during the period of use.


8. Termination of Agreement
   The Second Party may discontinue the use of the vehicle at any time without assigning any reason.
   
   The First Party may disengage the vehicle by giving one month's written notice to the Second Party.

IN WITNESS WHEREOF
Both parties, in full conscience and free will, have executed this Agreement on the date, month, and year first above written in the presence of the undersigned witnesses.

WITNESSES:

1.

(Name, Signature & Address)

2.

(Name, Signature & Address)

FIRST PARTY / OWNER
Signature: _________________________

SECOND PARTY / HIRER
Signature: _________________________