BMW 216D (Min 3 days)

1. LEASE AGREEMENT

1.1 This Lease is between Nordad Commercial Leasing Pte Ltd (“The Lessor”) of 26 Sing Ming Lane #03-124 Midview City S573971 and the Lessee being:

LESSEE NRIC / FIN Number

ADDRESS

MOBILE

EMAIL

2. LEASE TERM

2.1 This lease is for a term stated below:

START DATE:

END DATE:

NUMBER OF MONTHS:

NUMBER OF DAYS:

3. PAYMENT & DEPOSIT

3.1 This lease payment and deposit terms are as below:

LEASE DURATION

RENTAL PAYMENT AMOUNT

ADVANCE RENTAL PAYMENT AMOUNT

REFUNDABLE DEPOSIT AMOUNT

3.2 In consideration for the provision of the motor vehicle listed in 4.1, Lessee shall be responsible to Lessor for advance rental payment for the motor vehicle listed in 4.1 Vehicles for the lease term stated in 2.1.

3.3 The Lessee is to ensure monthly rental payment is paid to Lessor in advance.

3.4 Finance fee for late payment(s) would be as follows: 1-30 days, $300; after than an additional $800 on top of existing contract per month is charged.

3.5 If payment is late by one month, The lessor will escalate it to a licensed debt collector service to recover amount owed and lessee will bear the $800 admin fee to the licensed debt collectors.

4. MOTOR VEHICLES

4.1 Lessor hereby leases to Lessee the motor vehicle(s) and equipment listed below:

5. MAINTENANCE, REPAIR SERVICE AND ACCIDENT REPAIR

5.1 Lessor shall cover all preventive and corrective maintenance expenses, insurance premiums, road tax etc. for maintaining the motor vehicle excluding fuel and ERP charges. The monthly leasing rates include the replacement of tyres with the exception of patching which will be borne by the lessee.

5.2 Lessee will keep the motor vehicle free from physical damage and will not subject the motor vehicle to more than normal wear and tear. Lessee will not modify the motor vehicle without prior written consent of the Lessor.

5.3 Lessee agrees not to use or permit the use of the motor vehicle (A) for any unlawful or wrongful purpose or in violation of any law; and (B) to transport passengers in excess of the rated capacity of the vehicles.

5.4 Lessor may inspect the leased vehicle(s) giving 3 days notice at anytime. If Lessor believes the Lessee has not taken reasonable care of the vehicle the Lessor can take back the vehicle at any time.

5.5 Lessee may not assign or transfer any of its rights or obligations under this Lease, or sublet the vehicle to another party without prior written consent of the Lessor.

5.6 Lessee will inform Lessor when mileage runs each 5,000kms more than handover amount stated in 4.1. Lessor will have the option of servicing the motor vehicle if the Lessor deems it necessary. Lessor will then inform Lessee of service workshop which Lessee will be responsible to take the motor vehicle down. Lessee also has an obligation to call Lessor if they believe anything needs fixing with the vehicle. They are to call the general office line on 6354 4555 to arrange. Lessor will make arrangements to rectify any issues as soon as possible.

5.7 Lessee is responsible for damages to the motor vehicle due to negligence eg. An accident, defacing the motor vehicle, damages or broken parts which are not within the normal wear and tear. Lessee shall bear the cost of repair or rectification of any damage caused to the vehicle. Lessee is responsible for their own damage or accident repair cost.

5.8 Should the Lessee encountered breakdown and required towing service, the Lessee is to contact Lessor at 6354 4555 or Lessor's appointed towing service. Lessor will not be responsible for any other towing charges outside of those directly related to the vehicle being broken down.

5.9 The Lessor will attempt to provide a replacement motor vehicle that is similar or equivalent in the event that the leased motor vehicle is or will be down for repair for more than 48 hours. If the Lessor cannot find a vehicle they will deduct the daily pro rata portion of rental from the amount owed. If the vehicle has been damaged by Lessee’s own doing e.g. Vandalism of own vehicle then the Lessor is not responsible to provide a replacement vehicle or to compensate Lessee.

6. SUMMONS

6.1 The Lessee shall be liable to any traffic, parking and or summons issued while in the possession and usage of the leased motor vehicle. These shall be paid in a timely manner and within 2 weeks of notice otherwise an admin fee of $250 is charged on top of fine.

7. MOTOR INSURANCE AND EXCESS LIABILITY

7.1 Lessor is responsible to provide comprehensive motor insurance for the vehicle(s) leased to lessee.

7.2 Lessee is responsible for Insurance Excess Liability of up to maximum of $3,500 for ANY DAMAGE and, $3,500 for Third Party Claims.

7.3 Drivers must have at least 2 years of driving experience in Singapore and 25 years and above of age.

7.4 The vehicle is NOT covered by a motor insurance policy covering personal accident insurance for the Lessee. The Lessor shall not be responsible for any liability, claims and injuries or otherwise in connection with any accident death or other losses arising from the use of the vehicle. The Lessee agrees that the Lessor shall not be responsible for any liability, claim, or damage caused directly or indirectly by the vehicle or its users

7.5 The Lessee shall not have had their Motor insurance application rejected, or policy cancelled or had special conditions imposed or had increased premium asked for by reason of claim experience.

7.6 The Lessee shall be solely responsible for and hold the Lessor fully indemnified against all claims, demands, liabilities, losses, damages, proceeding costs, expense, fines, penalties imposed on the Lessor or arising in respect of any non-compliance or contravention of any transport, traffic or other law or regulation. 7.7 In the event of an accident, rental for the accident car will continue even when the car is in the workshop for damage repair. No replacement car would be given if lessee is at fault for the accident unless lessee is willing to pay for the rental of the replaced car.

8. RESTRICTION OF USE

8.1 The Lessee covenants to use the vehicle only for Lawful and Legitimate purposes only and not to use the vehicle for any unlawful activity.

8.2 Vehicle is restricted to Singapore use only. If driving to Malaysia Leasee must request approval before going in which case a premiums and excess maybe charged for that time period.

8.3 In the event of the said vehicle being damaged, confiscated, forfeited or seized as a result thereof, the Lessee shall indemnify the Lessor for all the losses incurred including the full value of the said vehicle.

9. TERMINATION OF LEASE

9.1 Should the Lessee decided to terminate the lease contract prematurely, the Lessee is liable to pay the remaining balance amount of the lease (number of months x monthly leasing amount). Lessor, at his discretion, may decide whether to reduce or waive off part of the monthly comprehensive maintenance component from the monthly lease amount. The monthly comprehensive maintenance component rate is to be determined by the Lessor.

9.2 The Lessor reserve the rights to terminate the lease without any liability. Furthermore should the Lessee fail to make the monthly prepayment in advance. The Lessor will forfeit the deposit placed.

9.3 Upon termination of the Lease, the Lessee shall return the vehicle which will be inspected by the Lessee for any damages etc. All vehicles must be returned with a full tank of petrol. If not the Lessor will charge the cost of filling up the petrol tank at 20% of premium paid. Deposits will be refunded no later than 14 days after the vehicle has been returned.

9.4 The returned vehicles should be repaired to its original condition before returning to the Lessor. The Lessor reserve the rights to repair the motor vehicle to its original condition and deduct the repair fees from the deposit before refunding (if any), the balance amount to Lessee.

10. DATA PROTECTION

10.1 Both parties must abide by Singapore law in relation to the Data Protection Act 2012 (revised 2020).

11. GOVERNING LAW

11.1 This Agreement shall be governed by and construed in accordance with the laws of Singapore.

Deposit
One Month 

Insurance Excess
Singapore Usage: Own damage: $3,500 | Third-party: $3,500
Malaysia Usage: Double excess