AGREEMENT OF RENT VEHICLE

RENT VEHICLE

AGREEMENT OF RENT VEHICLE

This agreement of rent vehicle has been made at Karachi on this ___________ day of ________________.

BETWEEN

Mr. _____________________________ S/o  _____________________________ Muslim, adult, holding CNIC No. _____________________________ Resident of  ________________________ _________________________________________ hereinafter called the OWNER / FIRST PARTY.

AND

Mr. _____________________________ S/o  _____________________________ Muslim, adult, holding CNIC No. _____________________________ Resident of  ________________________ _________________________________, hereinafter referred to as the TENANT / SECOND PARTY.

Whereas the OWNER / FIRST PARTY aforesaid is at the date of these presents seized and possess of an otherwise well and sufficiently entitled to one moveable property Vehicle bearing:.

Hereinafter called the said vehicle.

PAGE 2

TERMS & CONDITION:

1. That the First Party is agree to rent out the said vehicle to the Second Party and the Second party is willing to take the said vehicle on Weekly Rent of Rs. _____________/- Rupees _______________________ only payable on every _______ day regularly.
2. That this agreement is valid for a period of Eleven (11) months and can be extended for further period by mutual consents of both the parties.
3. That the Owner will bear the maintenance of the said Vehicle. In case of accident / damages the tenant will be responsible to pay for all types of expenses of damages. If the said Vehicle theft: the Second party will be fully responsible.
4. That if any party will want to withdraw this agreement that party will serve one month prior notice to the other party for withdrawing this agreement.
5. That the second party shall return the said vehicle in the same conditions as it is now, if there any minor damages, the Second Party shall be responsible for that.
6. That the Owner’s fully responsible to all the cases i.e. Police Case, Excise & Taxation Department, ACLC, Court of Law etc. before this agreement date & similarly Tenant will be full responsible on same terms & conditions after above mentioned Vehicle handover date.

IN WITNESS WHEREOF the both Parties have set and subscribed their respective signature on the day, month and year first above mentioned.

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