Lease Agreement for Truck Drivers

§ 376.21 General exceptions. With the exception of section 376.11(c), which requires the identification of equipment, the leasing provisions of this Part do not apply to: (a) equipment used in the replacement transportation of railway goods between stations and in rail billing. (b) Equipment used in transport operations carried out exclusively in an industrial zone defined by the Secretary. (c) equipment rented without a driver by a person principally engaged in such an activity. (d) any type of trailer which is not purchased from an engine leased from the same lessor. [44 FR 4681, 23 January 1979. Renamed 61 FR 54707, 21 October 1996, amended to 62 FR 15424, 1 April 1997] §376.22 Exemption for the rental of private carriers and the rental between authorized carriers. Notwithstanding the lease terms set out in this Part, an authorized carrier may lease equipment to or from another authorized carrier, or a private carrier may lease equipment to an authorized carrier under the following conditions: (a) Identification of the equipment requirements of section 376.11(c) must be met; (b) the lessor must own or lease the equipment; (c) A written agreement on the equipment shall be required between the authorized carriers or between the private carrier and the authorized carrier as follows: (c) (1), it shall be signed by the parties or their agents. c) (2) it shall provide that control and responsibility for the operation of the Equipment shall be vested in the Lessee from the time the Lessee takes possession and the receipt required under section 376.11(b) is given to the Landlord until: (i) possession of the Equipment is returned to the Lessor and the receipt required under section 376.11(b) has been received by the Authorized Carrier; or (ii) in the event that the agreement exists between Authorized Carriers, ownership of the Equipment will be returned to the Lessor or transferred to another Authorized Carrier as part of an equipment replacement.

(c) (3) A copy of the agreement shall be kept in the attachment for as long as it is in the possession of the tenant. (c) (4) This Division does not prohibit the use of a master lease by authorized carriers, private carriers and any other entity engaged in lease transactions under this Division if a copy of the master lease is carried in the equipment while in the lessee`s possession and the master lease complies with the provisions of this Division and the receipts are exchanged in accordance with section 376.11 ( b). and when records of the equipment are prepared and maintained in accordance with § 376.11 (d). (d) Authorised and private air carriers subject to common ownership and control may lease equipment to each other in accordance with this Section without complying with the requirements of point (a) of this Section with regard to the identification of equipment and the requirements of paragraphs (c)(2) and (c)(4) of this Section with regard to equipment inputs. The leasing of equipment between such carriers is subject to all other requirements of this Section. §376.11 General rental provisions. The receipt provided in this section may be sent by mail, telegraph or other similar means. (b) (2) If possession of the equipment by the authorized carrier ends, a receipt shall be issued in accordance with the terms of the lease if the lease requires a receipt. (b) (3) The carrier`s and owner`s agents may take possession of the leased equipment and issue and receive the receipts required under this subsection. (c) Identification of Equipment – The authorized carrier using the equipment under this section shall mark the equipment as in service as follows: (c) (1) During the term of the lease, the carrier shall identify the equipment in accordance with the requirements of the FMCSA in Part 390 of 49 CFR of this Chapter (Vehicle Identification). (c) (2) Unless a copy of the lease is made on the equipment, the authorized carrier shall keep with the equipment during the lease period a statement that the equipment is operated by the authorized carrier.

The declaration shall also indicate the name of the owner, the date and duration of the lease, any restrictions on the rental agreement with regard to the goods to be carried and the address at which the original lease is kept by the authorized carrier. This declaration shall be drawn up by the authorised carrier or his authorised representative. (d) Equipment records — The authorized carrier that uses the equipment leased under this Section shall keep records of the equipment as follows: (d) (1) The authorized carrier shall create and maintain documents for each voyage for which the equipment is used in its service. These documents include the name and address of the owner of the equipment, the place of origin, the time and date of departure, and the final destination. In addition, during its operation, the authorized carrier must carry with it documents containing the leased equipment containing this information, identifying the notification and clearly indicating that the carriage is under his responsibility. These documents shall be kept by the authorized carrier as part of his transport documents. Leases containing the information required under the provisions of this paragraph may be used and retained in place of such documents or documents. In the case of leases negotiated under a main lease agreement, this provision shall be complied with by having a copy of a main lease in the relevant equipment unit and by including the residual documentation required under this paragraph in the freight documents drawn up for the specific movement. (d) (2) [Reserved] [44 FR 4681, 23 January 1979, amended to 49 FR 47269, 3 December 1984; 49 FR 47850, 7 December 1984; 50 FR 24649, 12 June 1985; 51 FR 37406, 22 October 1986; 62 FR 15424, 1 April 1997] §376.12 Written requirements relating to the rental agreement. Except as provided in the exceptions set out in Subsection C of this Part, the written lease required under section 376.11(a) shall contain the following provisions. The required rental arrangements must be respected and executed by the authorized carrier. (a) Parties — The lease is entered into between the authorized carrier and the owner of the equipment.

The lease agreement must be signed by these parties or their authorized representatives. b) Duration, to be precise – The lease must specify the time and date or circumstances in which the lease begins and ends. These times or circumstances coincide with the deadlines for submission of receipts required by § 376.11 (b). . . .