A vehicle deposit agreement is an agreement which is made at the time when the owner of a vehicle wishes to deposit his vehicle with an agency which is responsible for keeping the vehicle safely for the duration of the agreement. Such agreements consist of legally binding terms and conditions which are compulsory to be followed by both the parties.
Sample vehicle deposit agreement:
This agreement has been made on the effective date of 23rd July 2011
This agreement has been made by and between Mr. Jack Reading who is herein referred to as the owner of the vehicle and Mr. Henry Law who owns the company Law depositors and is herein referred to as the AGENCY.
Details of OWNER:
Address: H-90, first floor, Paul building, LA
Contact number: 470935704690
Details of AGENCY
Agency address: 1-p, fredring area, LA
Contact number: 4093570956065
Details of the vehicle:
Name: Fiat T6
Model number: W/0
The OWNER agrees to deposit this vehicle with the AGENCY because of his absence from the city
Duration of agreement: 6 months
Total cost of deposit: $5000
TERMINATION DATE: 23rd Jan 2012
The following are the terms and conditions of the agreement:
The AGENCY agrees to keep the vehicle in the entire position and condition as deposited.
The OWNER agrees to pay the entire amount after getting the vehicle back in the same shape at the end of agreement term.
The AGENCY must not lease or pass the vehicle to any third party.
The OWNER must check the status of the vehicle whenever he wishes to.