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Sneha C   28 November 2017

Car lease agreement

Hello All,

I am planning to rent a car to a company on monthly basis ( I am not the owner of car - working as agent )

Can anyone please help me with agreement details: 

- what stamp amount  should be used for agreement

- should the agreement be registered and notarised.

- in case of betrayal of the agreement terms and consitions, will the agreement be a legal evidence.

 



Learning

 1 Replies

Atul Kumar (Corporate Lawyer)     28 November 2017

Stamp duty on an agreement depends upon the place of execution of Agrement. Various states have separate stamp duty Act.  However, Rs 100 non judicial stamp paper should be sufficiient. You can get the stamp paper from a stamp vendor. The Agreement is not required to be registered or notarised. There is no legal need for a witness. But you can add one witness to sign at the last page.  In case of breach of terms and conditons of Agreement , it can be used as evidence in a court . So please get it signed on a non judicial stamp paper. Also the terms and conditions should be very clear and there should be no ambiguity . Otherwise, it will be difficult to enforce.  


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