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How to put a lease together?

Discussion in 'Ask An Owner Operator' started by BigKid2, May 21, 2014.

  1. May 21, 2014 #1
    BigKid2

    BigKid2 Road Train Member

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    Going to be leasing on a few contractors in the next few weeks and I need to get a lease agreement put together. It is going to be an arrangement pretty close to what BBB did with his F2F company. Where do I start and what all needs to go into it? I don't want it to be very long and I don't want it to be so a guy has to get a law degree to understand it. Starting out it is going to be a few guys I have known for a long time that I am sure can make it doing this.
     
    BigKid2, May 21, 2014
    BigKid2, May 21, 2014
    #1
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  3. May 21, 2014 #2
    Mr Dave

    Mr Dave Light Load Member

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    talk w/ business legal section of OOIDA, they have sample copies of leases that they approve. Got my lease from them and is a good 1, at least me & my leasee's think so
     
    Mr Dave, May 21, 2014
    Mr Dave, May 21, 2014
    #2
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  4. May 21, 2014 #3
    BigKid2

    BigKid2 Road Train Member

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    Did they charge anything for it?
     
    BigKid2, May 21, 2014
    BigKid2, May 21, 2014
    #3
  5. May 21, 2014 #4
    JPenn

    JPenn Road Train Member

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    Make sure you read 49 CFR 376.12. It's got everything you need to cover yourself legally.
     
    JPenn, May 21, 2014
    JPenn, May 21, 2014
    #4
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  7. May 22, 2014 #5
    ironpony

    ironpony Road Train Member

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    And keep the "weasel words" to a minimum.
     
    ironpony, May 22, 2014
    ironpony, May 22, 2014
    #5
    BigKid2 Thanks this.
  8. May 22, 2014 #6
    Mr Dave

    Mr Dave Light Load Member

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    BigKid2 - services such as this go with the price of membership in the organization. If you get a referral from a member, the cost is $25 to join for 1 year, includes a subscription to Landline magazine, discounts( which are valuable if you are aware of and use them), some legal and trucking advise whenever.
     
    Mr Dave, May 22, 2014
    Mr Dave, May 22, 2014
    #6
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  9. May 22, 2014 #7
    Jar-Head

    Jar-Head Road Train Member

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    As I know you want to limit the length of the lease . You need to think about limiting your Liability first and formost . If you shrink a contract to make it simple you may end up having yourself holding the bag if something and was to happen . . Your I's and x your T's
     
    Jar-Head, May 22, 2014
    Jar-Head, May 22, 2014
    #7
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  10. May 22, 2014 #8
    Semi Crazy

    Semi Crazy Road Train Member

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    Download OOIDA's model lease agreement. It's short and sweet.

    That's what I have to run under my buddy's authority.
     
    Semi Crazy, May 22, 2014
    Semi Crazy, May 22, 2014
    #8
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  11. May 22, 2014 #9
    BigKid2

    BigKid2 Road Train Member

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    I am a member of OOIDA and have been since 2000 I believe. I did talk to them and they emailed me a copy of the sample lease and that is what I am going to use.
     
    BigKid2, May 22, 2014
    BigKid2, May 22, 2014
    #9
  12. May 23, 2014 #10
    cominghomesc

    cominghomesc Light Load Member

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    Find an attorney in your areathat practices is in this area. It would not be very smart to not drop $5-$10k on this contract because it will protect not if but when the time arises.
     
    cominghomesc, May 23, 2014
    cominghomesc, May 23, 2014
    #10
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