Owner Operator Lease Agreement at a glance
What it is: The Owner Operator Lease Agreement is an agreement between a Carrier and an Owner Operator who is engaged in the transportation of general freights of all kinds (FAK) by motor vehicle as a contract Carrier.
Who signs: This agreement is to become effective upon signature by the Carrier and the Owner Operator.
A filled-in Owner Operator Lease Agreement example: a trucker and a carrier date the agreement
How to fill out Owner Operator Lease Agreement, box by box
Entered into this day of, the Carrier and the Owner Operator
Fill in "THIS agreement, entered into this ____day of ______________20___".
Write in the Carrier before "(Hereinafter designated as Carrier)".
Write in the Owner Operator before "(Hereinafter designated as Owner Operator)".
Shipments the Owner Operator delivers
The Owner Operator hereby agrees to deliver for the Carrier for transportation not less than one shipment of freight of all kinds (FAK) during a period of ____________________. Write the period in the blank after "during a period of", before "The Owner Operator further agrees, subject to availability and loading".
Signatures of the Owner Operator and the Carrier
Under SIGNATURES, the OWNER OPERATOR signs and the CARRIER signs, each with a NAME.
More rules for Owner Operator Lease Agreement
The Owner Operator shall secure all permits, licenses and approvals necessary for the work to be done and shall furnish the Carrier with satisfactory evidence whenever requested to do so.
The Owner Operator shall provide to Federal Motor Carrier Safety Administration certificate showing the Owner Operator holds contract authority, and shall give immediate notice to the Carrier of any cancellation or modification of such authority.
This agreement shall not be modified or altered unless in writing, signed by both parties to this agreement.
The Owner Operator shall be an independent contractor of the Carrier.
The Owner Operator agrees to take signed receipts upon forms satisfactory to the Carrier from all persons to whom deliveries shall be made, and shall retain the receipts for at least two (2) years.
The Owner Operator agrees to be a motor Carrier member in good standing in the Uniform Intermodal Interchange Agreement (UIIA) and to comply with the insurance requirements of the Federal Motor Carrier Safety Administration and the states through which the Owner Operator operates.
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.
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.
This contract cannot be assigned by the Owner Operator without the written consent of the Carrier.
The rates and charges are set forth in the rate schedule attached hereto. The Carrier agrees to pay the Owner Operator the rates and charges set forth in the rate schedule, within sixty (60) days of invoice date.
The Owner Operator shall treat as confidential, and not 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 the Carrier's written consent in advance.
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.
Enter the state whose laws govern: to the extent state law applies, this agreement shall be governed by and interpreted in accordance with the laws of the state of ____________________.
Sources
[1] Owner Operator Lease Agreement, the form as served (the Official source link on this page).
