Leasing/Renting trailer from individual

So I have gained some solid contacts and I have an opportunity to run hopper bottom loads locally for a chain of elevators. Only hang up is I don’t have a hopper bottom trailer nor does the guy I run for. I have farmer friends that do and I’m considering attempting to strike a deal with them for some kind of lease agreement.

My question is when doing this with an individual what kind of paper work needs to be in place? Is there templates out there for forms and contracts? How about plates and insurance?

I’m sure these are no different than going though a leasing company but I (nor the trailer owners) have experience or knowledge in this matter so that’s why I’m asking for help. I’m confident I can get a trailer this way through my contacts but I want to have my ducks in a row before I approach anyone and be able to have a contract on hand that is fair to all involved.

Thoughts?

 

@Judge

See I think we have the trailer exchange insurance already for P/O loads. So if that’s the case then I would just need a contract defining terms and conditions. What about plates? Would I be running the trailer owners or would I need my own?

 

I’m wondering if they are a farm type plate if they will need switched out. Might be a question for a DOT officer??

 

Thank you @Judge you’ve been very helpful and i managed to get a trailer lined up today for next month when we start hauling. Thanks a bunch man!