The Owner Operator Lease Agreement is a formal document that outlines the terms and conditions between a Carrier and an Owner Operator engaged in the transportation of goods. This agreement serves as a framework for the responsibilities and obligations of both parties, ensuring compliance with applicable laws and regulations. For those looking to initiate this agreement, please fill out the form by clicking the button below.
Key Takeaways on the Owner Operator Lease Agreement
When filling out the Owner Operator Lease Agreement form, it is essential to approach the task with care and attention to detail. Here are five key do's and don'ts to keep in mind:
Failing to provide accurate dates: The agreement requires specific dates to be filled in. Omitting or incorrectly entering these dates can lead to confusion regarding the contract's validity.
Neglecting to secure necessary permits: Owner Operators must ensure that all required permits and licenses are obtained before signing. Not doing so may result in legal issues or penalties.
Inaccurate cargo descriptions: Clearly describing the cargo type is essential. Vague or incorrect descriptions can lead to disputes about liability and responsibilities.
Ignoring insurance requirements: The form specifies minimum insurance coverage levels. Failing to meet these requirements can leave the Owner Operator exposed to significant financial risk.
Omitting signatures: Both parties must sign the agreement for it to be legally binding. Not obtaining the necessary signatures can render the contract unenforceable.
The Owner Operator Lease Agreement shares similarities with a Trucking Contract. Both documents outline the relationship between a trucking company and an independent contractor who provides transportation services. They detail responsibilities, liabilities, and compensation structures. The Trucking Contract, like the Owner Operator Lease Agreement, emphasizes compliance with regulations and the requirement for proper insurance coverage. Each document serves to protect the interests of both parties while ensuring that all legal obligations are met during the transportation of goods.
Another document that resembles the Owner Operator Lease Agreement is the Freight Bill of Lading. This document serves as a contract between the shipper and the carrier for the transportation of goods. It includes information about the cargo, delivery instructions, and terms of service. Similar to the Owner Operator Lease Agreement, the Freight Bill of Lading establishes the responsibilities of each party and outlines the conditions under which the goods are transported, ensuring clarity and accountability throughout the shipping process.
The Independent Contractor Agreement is also similar to the Owner Operator Lease Agreement. This document defines the working relationship between a business and an independent contractor. It specifies the scope of work, payment terms, and the independent status of the contractor. Like the Owner Operator Lease Agreement, it includes clauses about liability and compliance with applicable laws, reinforcing the independent contractor's role and responsibilities within the broader business framework.
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A Bill of Sale is another document that bears resemblance to the Owner Operator Lease Agreement. This document is used to transfer ownership of goods or property from one party to another. Both documents require clear identification of the parties involved and specific details about the items being transferred or the services being provided. The Bill of Sale, like the Owner Operator Lease Agreement, ensures that both parties understand their rights and obligations, providing a formal record of the transaction.
The Service Agreement is similar to the Owner Operator Lease Agreement in that it outlines the terms under which services are provided. This document specifies the scope of work, payment terms, and responsibilities of both parties. It is crucial for establishing clear expectations and accountability, much like the Owner Operator Lease Agreement does for the transportation services being rendered. Both documents aim to protect the interests of the parties involved while ensuring compliance with relevant laws and regulations.
The Non-Disclosure Agreement (NDA) also shares common elements with the Owner Operator Lease Agreement. An NDA is designed to protect sensitive information shared between parties during a business relationship. Similar to the confidentiality clauses in the Owner Operator Lease Agreement, an NDA ensures that proprietary information remains confidential and is not disclosed to unauthorized third parties. Both documents emphasize the importance of trust and confidentiality in business dealings.
Lastly, the Insurance Agreement is akin to the Owner Operator Lease Agreement as it outlines the insurance requirements for parties involved in a business transaction. This document specifies the types of insurance coverage needed and the responsibilities of each party in maintaining that coverage. Like the Owner Operator Lease Agreement, the Insurance Agreement aims to mitigate risks and ensure that both parties are protected against potential liabilities during the course of their business relationship.
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An Owner Operator Lease Agreement is a legal document that outlines the terms and conditions under which an owner operator provides transportation services to a carrier. This agreement establishes the relationship between the two parties, specifying responsibilities, liabilities, and compensation. It ensures that both the owner operator and the carrier understand their obligations regarding the transportation of goods.
The Owner Operator has several critical responsibilities under the agreement, including:
Compensation for the Owner Operator is typically based on a rate schedule that details the charges for services rendered. The Carrier agrees to pay the Owner Operator within sixty days of receiving an invoice. The specifics of the rates, including acceptable charges and the commodities to be transported, are outlined in the agreement. It is essential for both parties to review and agree upon these terms to avoid disputes later on.
If the Owner Operator decides to engage subcontractors for any portion of the work, this does not alter the independent contractor relationship with the Carrier. The Owner Operator remains responsible for compliance and performance, even when subcontractors are involved. Furthermore, the Owner Operator must indemnify the Carrier against any claims or liabilities arising from the subcontractor's actions or failures.
Yes, the terms of the Owner Operator Lease Agreement can be modified. However, any changes must be made in writing and signed by both parties. This requirement ensures that both the Carrier and the Owner Operator have a mutual understanding of any amendments to the original agreement, thereby preventing misunderstandings or disputes regarding the contract's terms.
OWNER OPERATOR LEASE AGREEMENT
THIS agreement, entered into this ____day of ______________20___ between
______________________, (Hereinafter designated as “Carrier”), and
______________________, (Hereinafter designated as “Owner Operator”),
WITNESSETH:
WHEREAS, Owner Operator is engaged in the transportation of general freights of all kinds (FAK) by motor vehicle as a contract Carrier and desires to transport goods for Carrier; and WHEREAS, to facilitate such transportation and for the convenience in handling such transaction, the parties have agreed to the terms and conditions under which transportation shall be made, as hereinafter set forth.
NOW THEREFORE, in consideration of the premises and the mutual promises and conditions herein contained it is hereby agreed as follows:
(1) GENERAL PROVISIONS:
(a)Owner Operator, in its operations hereunder, shall secure all permits, licenses and approvals necessary for the accomplishment of the work to be done hereunder and shall comply fully with all applicable laws, rules, orders and regulation of all governments and agencies thereof, whether federal, state or local, and shall furnish Carrier with satisfactory evidence thereof whenever requested to do so. Among other things, Owner Operator shall provide to Federal Motor Carrier Safety Administration certificate showing Owner Operator holds contract authority from such commission covering the commodities and transportation routes to which this agreement relates, and Owner Operator shall give immediate notice to Carrier of any cancellation or modification of such authority. When transporting hazardous wastes, substances to or materials pursuant this agreement, Owner Operator shall comply with all applicable federal, state and local hazardous wastes, substances or materials laws and regulations and shall furnish Carrier with satisfactory evidence thereof whenever requested to do so.
(b)The Owner Operator hereby agrees to deliver for the Carrier for transportation, not less than the following amount: one shipment of freight of all kinds (FAK) during a period of
____________________. The Owner Operator further agrees, subject to availability and loading tendered for transportation by Carrier.
(c)All such cargo shall be transported hereunder in accordance with this agreement and the provisions of Carrier’s tariff’s or service contracts applicable to such cargo. Cargo shall include any containers in which goods are packed when received by Owner Operator hereunder.
(d)This agreement shall not be modified or altered unless in writing, signed by both parties to this agreement.
(e)This contract shall terminate all previous contracts between the parties hereto relating to the transportation Freight all kinds (FAK) and shall remain in full force and effect for the term of this agreement.
(f)It is to be clearly understood and it is the intention of the parties hereto that Owner Operator shall employ all persons operating trucks hereunder, that such persons shall be and remain the employees of the Owner Operator, that the Owner Operator shall be an independent contractor of the Carrier and that nothing herein contained shall be construed to be inconsistent with that relation or status.
(g)It is further to be clearly understood that where the Owner Operator engages any
subcontractor for any portion of the work hereunder, such engagement will not alter the relationship of the Owner Operator to the Carrier as an independent contractor and shall not establish any relationship or obligation between Carrier and any subcontractor. Owner Operator will continue to be solely responsible for compliance with or performance for any subcontractors actually doing such work and will otherwise defend, indemnify and save harmless the Carrier, its agents and servants from any such claims, liabilities, penalties and fines (whether criminal or civil), judgments outlays and expenses (including attorney’s fees).
(h)Owner Operator shall defend, indemnify and save harmless the Carrier, its agents and servants from any and all liabilities, penalties and fines (whether criminal or civil), judgments, outlays and expenses (including attorney’s fees) resulting from Owner Operator’s failure or the failure of Owner Operator’s agents, employees, subcontractors or representatives to comply with any applicable laws and regulations, whether federal, state or local, or property arising out of the performance of this agreement caused by the acts, failure to act or negligence of Owner Operator, subcontractors, its agent, employees, or representatives.
(i)Owner Operator will assume all liability for and will otherwise defend, indemnify and save harmless the Carrier, its agents or servants from any and all liabilities, penalties and fines (whether criminal or civil). Judgments, outlays and expenses (including attorney’s fees) resulting from any release or discharge of hazardous wastes, substances or materials that occurs during transportation and Owner Operator will assume all responsibility and liability for cleanup of any release or discharge of hazardous wastes, substances or materials that occurs during transportation and will otherwise defend indemnify and save harmless the Shipper, its agents and servants from any and all liabilities, penalties and fines (whether criminal or civil), judgments, outlays and expenses (including attorney fees) resulting from the cleanup of any such release or discharge.
(j)Owner Operator will defend, indemnify and save harmless the Carrier, its agents and servants from any and all liabilities, penalties and fines (whether criminal or civil in nature), judgments, outlays and expenses (including attorney’s fees) resulting from the Owner Operator’s failure or the failure of Carrier’s agents, employees, subcontractors or representatives to perform any of the terms, conditions, promises or covenants contained in this contract.
(k)Carrier shall have full responsibility for all payments, benefits, and rights of whatsoever nature to or on behalf of any of its employees and to ensure that its subcontractor shall have the same responsibility.
(l)It is further agreed by the parties hereto that Owner Operator is not to display the name of Carrier upon or about any of the Owner Operator’s vehicles, without Carrier’s written consent.
(m)Any limitation on or exemption from liability in any tariff, receipt, bill of lading, or other document issued by or on behalf of Owner Operator shall have no legal effect and shall not otherwise apply with respect to shipments tendered by or on behalf of Carrier unless specifically agreed in writing by the Owner Operator. Any limitations on or exemptions from liability contained in a Owner Operator’s tariff, receipt, bill of lading, or other document issued in conjunction with a specific shipment moving under this Contract shall have no legal effect and shall not otherwise be applicable to such shipments.
2.RECEIPTS OF GOODS:
(a)Owner Operator agrees, upon receipt from Carrier of such quantities of Carrier’s goods as may be tendered from time to time under this agreement by Carrier or by a third party on behalf of Carrier to give Carrier a written receipt thereof, which shall be prima facie evidence of receipt of such goods in good order and condition unless otherwise noted upon the face of such receipt; and, in the case of transportation of hazardous wastes, substances or materials such written receipt shall be prima facie evidence of receipt of such wastes, substances or materials in a condition and manner which complies with all applicable laws and regulations, whether federal, state or local. In the event that Owner Operator elects to use a tariff, bill of lading, manifest or other form of freight receipt or contract, any terms, conditions and provisions of such bill of lading, manifest or other form shall be subject and subordinate to the terms, conditions and provisions of this Agreement, and in the event of a conflict between the terms, conditions and provisions of such tariff, bill of lading, manifest or other form and this Agreement, the terms, conditions and provisions of this Agreement shall govern.
(b)Owner Operator agrees to take signed receipts upon forms satisfactory to Carrier from all persons to whom deliveries shall be made, which receipts shall be retained by Owner Operator for at least two (2) years and shall be available for inspection and use of Shipper.
3. CARE AND CUSTODY OF MERCHANDISE:
(a)Owner Operator hereby assume the liability of an insurer of the prompt and safe transportation of all goods entrusted to its care, and shall be responsible to Carrier for all loss or damage of whatever kind and nature and howsoever, caused to any and all goods entrusted to Owner Operator hereunder occurring, while same remains in the care, custody or control of Owner Operator or to any other persons to whom the Owner Operator may have entrusted said goods and before said goods are delivered as herein provided or returned to Carrier.
(b)On occasion, Owner Operator will be requested to transport reefer cargo refrigerated containers. On all occasions, refrigerated containers must be transported with an attached generator set (nose mounted or under-slung) unless specifically advised by Carrier in writing that a generator set is not required. It is the Carrier’s responsibility to ensure a generator set is attached and running properly at the assigned temperature at the time of interchange.
4. INSURANCE:
(a)Owner Operator agrees to be a motor Carrier member in good standing in the Uniform Intermodal Interchange Agreement (UIIA). Owner Operator further agrees to comply with the insurance requirements of the Federal Motor Carrier Safety Administration and the states through which the Owner Operator operates. Owner Operator’s insurance coverage shall, at a minimum, comply with the minimum requirements as stated in the UIIA.
(b)The Owner Operator agrees to carry cargo, personal injury, death, equipment and general insurance and will promptly reimburse Carrier for the value of any goods (including containers) lost or destroyed during the period of Owner Operator’s responsibility under clause (3) (a). All such insurance shall be as additional insured.
(c)The Owner Operator agrees to provide the UIIA with appropriate certification and a copy of each policy of insurance and renewals thereof or other satisfactory evidence that Owner Operator has obtained insurance in compliance with the requirements and terms of this agreement.
(d)The Owner Operator will arrange with its broker and/or insurance Carrier(s) that notice of coverage and limits will be sent directly to the UIIA, as well and cancellation notices and
amendments to coverage(s).
5. ASSIGNMENTS:
This contract cannot be assigned by Owner Operator without the written consent of Carrier.
6. COMPENSATION, COMMODITIES, TERRITORY:
(a)Acceptable rates and charges, rules and regulations, the commodities to be transported, and the points from and to which they shall be transported, are to be furnished the Carrier, the Federal Motor Carrier Safety Administration and other regulatory bodies as may be required, as set forth in the rate schedule attached hereto and made a part hereof. Carrier agrees to pay Owner Operator as full compensation for services to be performed by Carrier under said rules and regulations the rates and charges set forth in the rate schedule, within sixty (60) days of invoice date.
(b)This agreement is to become effective upon signature by Carrier and Owner Operator.
7. CONFIDENTIALITY:
Owner Operator shall treat as confidential, and not to disclose to third parties, the terms of this agreement or any information concerning the Carrier’s business including information regarding suppliers, products and customers without in each instance obtaining Carrier’s written consent in advance.
8. NOTICES:
All notices given pursuant to this agreement shall be given in writing by certified or registered mail, return receipt requested, and addressed as directed by the parties from time to time.
CARRIER: ______________________________________________________________
9. APPLICABLE LAW:
To the extent state law applies, this agreement shall be governed by and interpreted in accordance with the laws of the state of ____________________.
SIGNATURES
•OWNER OPERATOR
_______________________________
NAME
•CARRIER