For Commission Use Only
EQUIPMENT LEASE
AGREEMENT
WAC 480-15-590 Vehicle Leasing Procedure
WAC 480-15-600 Responsibilities When Entering into a Lease Agreement
Part 1 – Company Leasing the Vehicle / Lessee
Company Name/Address: HG Permit Number:
Part 2 – Company Owning the Vehicle / Lessor
Company Name/Address:
Part 3 – Vehicle Being Leased
Vehicle Make and Year: Serial Number: License Number:
Part 4 – Period of Lease
Lease will begin on: Lease will end on:
Date: Time: Date: OR
Until Cancelled □ (check box)
Part 5 – Compensation (see instructions on page 2)
Compensation for Vehicle: Compensation for Driver:
Part 6 – Lessee/Lessor Expense Agreement
Item Lessee Lessor Item Lessee Lessor
Vehicle Licensing Fees Equipment Rental Taxes
Toil and Ferry Charges Fuel and Oil
Vehicle Loan Payments Vehicle Maintenance
Parts and Tires Major Vehicle Repairs
Insurance, Comprehensive Minor Vehicle Repairs
Insurance, Theft Other (explain):
Insurance, Fire Other (explain):
Part 7 – Certification by Leasing Parties
The parties signing this lease certify that they understand all of the provisions of WAC 480-15-590 and
WAC 480-15-600, and agree to comply with those WAC rules.
Lessee Signature Date Lessor Signature Date
Instruction for Completing Equipment Lease Form
Your lease must be approved by the UTC before you operate the leased vehicle.
To request approval from the UTC of an equipment lease you must:
Complete this form, including signature and date, or an alternate form that contains all of the
required information.
Submit the completed form, in duplicate, to the UTC. Incomplete forms will be returned. If
your lease is approved, an approved copy will be returned to you.
Lease Requirements---Lessee must:
Have complete possession, control and use of the vehicle during the lease period;
Be in complete control of all permit operations;
Provide liability, property damage, and cargo insurance for the vehicle;
Ensure that the driver of the leased vehicle is an employee;
Ensure that the vehicle is properly identified
Comply with all safety rules and regulations;
Bill and collect proper tariff rates and charges;
Ensure that a copy of the approved lease is carried in all leased vehicles and a copy given to
the owner of the vehicle;
Keep a copy of the lease for one year past its expiration date
To complete this form:
Part 1 - Company Lease Vehicle/Lessee
List the name and address of the company and its current household goods permit number.
Part 2 – Company Owning the Vehicle
List the name and address of the company who owns the vehicle.
Part 3 – Vehicle Being Leased
Enter information about the vehicle to be leased: Make and year; identification number and
license number.
Part 4 – Period of Lease
Enter the date the lease will begin and the date the lease will terminate or check the box if the
lease will be in effect “until cancelled”.
Part 5 – Compensation
This lease is for equipment only. The basis for compensation may be a set amount per day,
week or month, or a percent of the revenue that the vehicle generates. Compensation should
be adequate to cover the expenses of the lessor. The driver of the leased vehicle must be an
employee of the lessee and must be on the payroll of the lessee. Show in each box how
compensation will be paid for both the use of the vehicle and the driver.
Part 6 – Lessee/Lessor Expense Agreement
Place a check mark next to each item indicating whether the lessee or lessor is responsible for
the expenses listed. If there are other expenses, list under “Other” and explain.
Part 7 – Certification by Leasing Parties
Both parties to the lease must sign and date the form.
2
Master Leases – Master Leasing is written leasing agreement between two permitted carriers which
provides for the occasional use of equipment of one company by the other company. Master leasing
does not require exclusive use of the lessor’s equipment. All of the leasing requirements show above
(except for Part 2) applies to the lessee during the term of a master lease. An Equipment Lease
Agreement form (with an attached equipment list, if required) must be approved by the commission
before entering into a Master Leave Agreement.
