Yazi Express LLC - Lease Agreement
TERMS & CONDITIONS
This Lease Agreement ("Agreement") is made effective as of the Start Date ("Commencement Date") by and between Yazi Express LLC ("Lessor") and the individual, company, or authorized agent signing this agreement ("Lessee").
This Agreement grants the Lessee the right to lease a truck under the conditions stated below. This is not a purchase agreement but a lease with specific terms and conditions.
1. PAYMENT TERMS
- Lessee agrees to pay the monthly lease fee in full at the time of signing.
- The first and last month’s payments are required at signing.
- No prorations or refunds are provided for partial months.
- Monthly payments must be made at least 7 days prior to the renewal date.
- Payments can be made via pre-authorized credit card, T-checks, checks, or cash.
- Prices are subject to change without prior notice, with any adjustments reflected in the next billing cycle.
2. VEHICLE REQUIREMENTS & INSURANCE
- The leased vehicle must be properly registered and insured at all times.
- Lessee must provide proof of valid insurance coverage and a valid Commercial Driver’s License (CDL) before leasing.
- The Lessee is responsible for any damages, fines, or legal fees resulting from improper use or negligence.
3. DAMAGES, LIABILITY & LATE RETURNS
- Lessee is responsible for any damages caused to the truck during the lease period.
- Any late returns beyond the agreed lease term will result in daily penalties.
- If the truck is not returned on time or is abandoned, legal action will be taken, and additional charges will be applied.
- Failure to pay lease fees on time will result in late fees of $25 per day after a 5-day grace period.
- After 30 days of non-payment, the truck will be repossessed at the Lessee’s expense.
4. CANCELLATION & TERMINATION POLICY
- Lessee must submit a written cancellation request at least 30 days before the next billing cycle.
- No verbal, phone, or email cancellations are accepted.
- If the Lessee violates any terms, Yazi Express LLC has the right to terminate the lease agreement immediately.
5. PROHIBITED USE & RESTRICTIONS
- The truck must only be used for legal transportation purposes.
- No hazardous materials (petroleum, toxic waste, medical waste, etc.) are allowed.
- The Lessee cannot sublease, sell, or transfer the vehicle to a third party.
- The truck must not be used for unauthorized or illegal activities.
6. PENALTIES FOR BREACH OF AGREEMENT
- If the Lessee fails to make payments on time, late fees and repossession will apply.
- If the Lessee causes damage to the truck, repair costs will be deducted from security deposits or charged to the Lessee.
- If the Lessee fails to return the truck on time, daily penalty fees will be added.
- If the truck is used in an unauthorized manner, the agreement will be terminated, and legal action may follow.
7. LIABILITY DISCLAIMER
- Yazi Express LLC is not responsible for theft, vandalism, or damages while the truck is in the Lessee’s possession.
- The Lessee assumes all risks related to the leased vehicle.
ADDITIONAL TERMS & INSURANCE REQUIREMENTS
Insurance Coverage
- Lessee must maintain auto liability insurance covering bodily injury and property damage.
- Coverage must be at least $1,000,000 per occurrence.
Compliance with Federal & State Regulations
- The Lessee agrees to follow all FMCSA, DOT, and state trucking regulations.
- Failure to comply with these regulations may result in lease termination and legal consequences.
Lessee’s Indemnification
- The Lessee agrees to indemnify and hold Yazi Express LLC harmless from any legal claims, fines, or damages resulting from the misuse of the leased truck.
