['Leasing - Motor Carrier']
['Leasing']
04/03/2024
...
A Master Lease Agreement may be used for on-going, intermittent trip leases with the same lessor/owner. The Master Lease consists of two documents: the Master Lease Agreement, and the Master Lease Supplement and Equipment Receipt. Used together, the leasing requirements in Part 376 are satisfied. The master lease is drawn up to detail the overall terms of the agreement, and lists the equipment that may be used for a trip lease between the same lessee and lessor. This allows an individual trip lease to take place without drawing an entirely new agreement for each trip. When a trip actually takes place, a Master Lease Supplement and Equipment Receipt must be executed setting forth the actual time and date of the beginning and end of the trip.
['Leasing - Motor Carrier']
['Leasing']
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