Document background
The Car Lease Agreement is a crucial legal document used in Singapore when one party (lessor) grants temporary possession and use of a vehicle to another party (lessee) in exchange for regular payments. This agreement is essential for both commercial and private vehicle leasing arrangements, ensuring compliance with Singapore's regulatory framework, including the Road Traffic Act and Consumer Protection laws. The document typically includes detailed provisions about the vehicle specifications, lease terms, payment schedules, maintenance responsibilities, insurance requirements, and return conditions. It serves to protect both parties' interests while clearly defining their rights and obligations throughout the lease period.
