LOTTE RENT-A-CAR VINA CO., LTD – DA NANG BRANCH

Terms of Service

This agreement is made on [DD/MM/YYYY] between the following parties:

1. RENT-A-CAR VINA DA NANG BRANCH
   3rd Fl, Indochina Riverside Tower, 74 Bach Dang Street, Hai Chau 1 ward, Hai Chau District, Da Nang City, Vietnam
   

   Representative	TON NU HUY CHAU – Branch Director
   Tel:	(0236)391 8000
   Fax:	(0236)391 8811
   Tax Code:	2300953399-002
   Account No.:	700007474100 (VND)
   At Shinhan Vietnam Bank – Ho Chi Minh Branch
   (LRAC)

2. [Customer name / Company name]
   Address
   Representative:
   Tel:
   Fax:
   Tax Code:
   (Renter)

The parties mutually agree as follows:

1. Vehicle description
   LRAC will let and the Renter will take on rental the car vehicle described below:

   Vehicle model	Quantity	Specification	Vehicle Registration No.
   Total

2. Rental duration
   The term of the rental shall be commencing on [ DD/MM/YYYY, HH:MM] to the requested destination.
   
   If the Renter does not bring the vehicle back on time the Renter is breaching the condition of this agreement. LRAC can charge the Renter for everyday or part-day the Renter has the vehicle after the Renter should have returned it to LRAC. Until LRAC gets back the vehicle LRAC will charge the Renter the normal daily rate published at the time of breaching occurred.
3. Rental rates and charges
   1. 3.1 Rental rate per vehicle: [Car type]: ………….. VND/vehicle (In words: ……….. millions dong.)
   2. 3.2 Charges
      The Renter shall pay the following charges.
      1. (1) The rental and any other charges LRAC works out according to this agreement.
      2. (2) Any charge for loss or damage resulting from the Renter not keeping the Renter’s responsibility as provided in clause 4.
      3. (3) Any published rates for delivering and collecting the vehicle.
      4. (4) Value added tax and all other taxes on any of charges listed above, as appropriate.
   3. 3.3 Pricing
      
      1. (1) Price for the “Pick-up service will be as follows
         a. 0 km ~ below 5km: 20,000 KRW
         b. 5 km ~ below 10km: 25,000 KRW
         c. 10 km ~ below 15km: 30,000 KRW
         d. 15 km ~ below 20km: 35,000 KRW
         e. Over 20km : 40,000 KRW
4. Responsibility of the Renter
   1. (1) The Renter must not sell, rent or dispose of the vehicle or any of its parts. The Renter must not give anyone any legal rights over the vehicle.
   2. (2) The Renter must let LRAC knows as soon as the Renter becomes aware of a fault in the vehicle.
   3. (3) The Renter shall have to pay for reasonable costs of repair if:
      
      1. (i) The Renter has to pay extra costs to return the vehicle to its condition when the pre-rental inspection was carried out (for example, special material or equipment is needed to restore the vehicle to its pre-rental condition); or
      2. (ii) The Renter has damaged the inside of the vehicle.
   4. (4) Before the Renter brings back the vehicle, the Renter must check that the Renter has not left any personal belongings in the vehicle.
5. Responsibility of LRAC
   
   1. (1) LRAC has maintained the vehicle to at least the vehicle manufacturer’s recommended standard. LRAC assures the Renter that the vehicle is roadworthy and suitable for renting at the start of the rental period.
   2. (2) LRAC will carry out periodical maintenance services for safe driving of vehicle. The cost of such maintenance services shall be borne by LRAC. For the periodical maintenance services, LRAC shall inform the maintenance schedule to the Renter at least three (03) days in advance. The Renter shall be agreed with the maintenance schedule informed by LRAC unless there is a reasonable ground to re-arrange it. For the period of maintenance, LRAC shall either provide a replaced vehicle (of a similar model if the same model is not available) or deduct the applicable daily rental from the monthly rental payment.
   3. (3) LRAC is only responsible for loss or damage to property left in the vehicle if the loss or damage results from our negligence or a breach of agreement.
6. Conditions for using the vehicle
   The vehicle is rent to be used in Da Nang area.
   The Renter shall immediately cease operating the vehicle upon discovery of any mechanical problem or abnormal condition with the vehicle during the term of the rental, and shall promptly report such discovery to LRAC and follow LRAC’s instructions. In this event, the Renter may get the vehicle serviced only after receiving LRAC’s prior approval and the actual services fee will be refunded when claimed with proper documents requested by LRAC.
7. Insurance
   Local insurance coverage
   The Renter shall be the beneficially of any insurance proceeds to the accidents specified in the terms and conditions of the insurance policies that LRAC obtains for its vehicles. However, the Renter may be deprived of all or part of the insurance proceeds if it is in breach of any of insurance terms and conditions.
   

   Coverage	Limits of Liability
   1. Physical Damage	Indemnity the total loss except as specifically excluded by the policy wording.
   2. Third Party Liability	Legal liability for personal injury and/or property damage to third party(ies) by the use of the insured vehicle. Per 1 victim/ 1 occurrence VND 105,000,000 Properties/ 1 occurrence VND 420,000,000 Per maximum 1 occurrence VND 8,400,000,000
   3. Driver and Passenger	Injury or death to driver and/or passengers caused by the traffic accident Sum insured/seat VND 210,000,000

8. Immediate return of vehicle where default or damage
   LRAC shall have the right to terminate the rental and take immediate possession of the vehicle if the Renter fails to comply with any of the terms of this agreement, or if the vehicle is damaged, or if the Renter goes into insolvency/dissolution/liquidation. The termination of the rental under the authority of this clause shall be without prejudice to the other rights of LRAC.
9. Early returns
   Early returns of the vehicle may incur a recalculation of monthly rate as follow:
   1. (1) The recalculation of monthly rate will be at [(the monthly rate x 20%) x number of effected-months and days remaining in the contract, from the time of returning vehicle].
10. Accidents
    The Renter shall take all necessary measures in accordance with applicable laws and regulations upon occurrence of any accident involving the vehicle. Therefore, the Renter agrees:
    1. (1) to immediately and properly notify LRAC of any accident involving the vehicle.
    2. (2) to furnish any information, documents, or evidence that may be requested by LRAC or LRAC’s insurance company.
    3. (3) not to make any compromise or compensation nor any admission of liability to any party involved in any accident in which the vehicle is involved without the permission of LRAC.
    4. (4) to get the vehicle repaired or serviced at the LRAC designated auto repair shop unless LRAC otherwise agrees in writing.
11. Governing law and jurisdiction
    1. (1) This agreement is made in English and Vietnamese with equal validity and governed by the laws of Vietnam.
    2. (2) The Renter irrevocably submits to the exclusive jurisdiction of the courts of Vietnam.
    3. (3) The Renter irrevocably waives any objection to the venue of any legal process on the basis that the process has been brought in an inconvenience forum.
    4. (4) The Renter irrevocably waives any immunity in respect of its obligations under this agreement that it may acquire from the jurisdiction of any court or any legal process for any reason including, but not limited to, the service of notice, attachment prior to judgment, attachment in aid of execution or execution.
12. Dispute resolution
    This agreement shall constitute the entire agreement between the parties. The parties shall attempt to resolve any disputes not specifically provided in this agreement through mutual consultation in accordance with the relevant laws and international rental practices.
13. Prohibition and enforceability
    
    1. (1) Any provision of, or the application of any provision of, this agreement which is prohibited in any jurisdiction is, in that jurisdiction, ineffective only to the extent of that prohibition.
    2. (2) Any provision of, or the application of any provision of, this agreement which is void, illegal or unenforceable in any jurisdiction does not affect the validity, legality or enforceability of that provision in any other jurisdiction or of the remaining provisions in that or any other jurisdiction.

Executed as an agreement:

Signed and sealed for and on behalf of.
By:
Date: DD/MM/YYYY
Signed and sealed for and on behalf of
LOTTE Rent-a-car Vina Da Nang Branch
By:
Date: DD/MM/YYYY