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* Rental
Agreement Car
A
rental agreement is a contract, usually written, between the owner of a property
and a renter who desires to have temporary possession of the property. As a minimum,
the agreement identifies the parties, the property, the term of the rental, and
the amount of rent for the term. The owner of the property may be referred to
as the lessor and the renter as the lessee.
In addition to the above,
a car rental agreement may include various restrictions on the way a renter can
use a car, and the condition in which it must be returned. For example, some rentals
cannot be driven off-road, or out of the country, or towing a trailer, without
specific permission.
There will certainly be a requirement to show a driver's
license, and only those drivers appearing on the contract may be authorized to
drive. It may include an option to purchase auto insurance, if the renter does
not already have a policy to cover rentals -- another important consideration
for multiple drivers. Some agencies may even require a bond payable if the car
is not returned in order, often held in the form of a credit-card authorization
-- voided if the car is returned per agreement. A renter should be advised that
he or she will be responsible for any parking or traffic violations incurred upon
the vehicle during the rental period. There should also be advice on handling
thefts, accidents, break-downs, and towing.
Further terms may include added
fees for late returns, drop-off at a different location, or failure to top up
the petrol immediately before the return.
Finally,
there may be provisions for making a non-refundable deposit with a booking, terms
for payment of the initial period (with discounts, vouchers, etc), extended periods,
and any damages or other fees that accrue prior to the return.
Size
: 39 kb
Words : 1501
Pages. : 5
Language : English
Document type
: .doc (Microsoft Word)
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