Important in a car rental agreement is to clarify which party will carry the insurance of the vehicle. Explore the possibilities of offering short term insurance to your clients through a reputable insurance company. You also need to confirm what your state or country requires in terms of third party liability, comprehensive cover etc.
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Whenever you are loaning a significant amount of money, it’s a great idea to put it in writing. A Loan Agreement is especially essential if you’re loaning to someone you are not familiar with, as it can prevent misunderstandings and disagreements by clearly setting down the terms of the loan and repayment.
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Components of a Car Lease Agreement. Lease Length or Term: This is the number of months you will be leasing the car. Make sure that the length of your car lease is ideal for you because you will be charged an early termination fee if you wish to terminate your lease before its term ends.