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This Truck Rental Agreement template is designed for use in the Philippines, complying with local transportation and commercial laws. It serves as a legally binding contract between vehicle rental companies (lessors) and businesses or individuals (lessees) seeking to rent trucks for commercial or personal use. The agreement encompasses crucial elements required under Philippine law, including detailed vehicle specifications, rental terms, payment structures, insurance requirements, and liability provisions. It is particularly relevant for businesses requiring temporary vehicle solutions without the long-term commitment of purchase, and can be customized based on the specific needs of the rental duration, vehicle type, and intended use. The document ensures compliance with the Land Transportation and Traffic Code (RA 4136) and other relevant Philippine regulations while providing clear guidelines for vehicle usage, maintenance responsibilities, and dispute resolution procedures.

1. Parties: Identification of the lessor (rental company) and lessee (renter), including complete business/personal details and contact information

2. Background: Brief context of the rental arrangement and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Vehicle Description: Detailed specification of the truck(s) being rented, including make, model, year, VIN, plate number, and current condition

5. Rental Term: Duration of the rental period, including start and end dates/times

6. Rental Fees and Payment Terms: Comprehensive breakdown of rental rates, payment schedule, security deposit, and additional charges

7. Use of Vehicle: Permitted uses, territorial limits, and restrictions on vehicle usage

8. Maintenance and Repairs: Responsibilities for vehicle maintenance, repair procedures, and cost allocation

9. Insurance and Liability: Insurance requirements, coverage details, and allocation of liability between parties

10. Obligations of the Lessor: Lessor's responsibilities including vehicle condition, maintenance, and support

11. Obligations of the Lessee: Lessee's responsibilities including proper use, care, and return of vehicle

12. Termination: Conditions and procedures for early termination of the agreement

13. Return of Vehicle: Requirements and procedures for vehicle return, including condition assessment

14. Governing Law: Specification of Philippine law as governing law and jurisdiction details

15. Dispute Resolution: Procedures for handling disputes, including mediation and arbitration provisions