What Is A Trip Lease Agreement

No. 376.31 Equipment Replacement. Licensed carriers may exchange equipment under the following conditions: (a) the exchange agreement – there must be a written contract, lease agreement or other contract that provides for the exchange and specifically describes the equipment to be replaced. This written agreement indicates the specific points of exchange, how the equipment is used and how to compensate for it. The exchange agreement is signed by the parties or their authorized representatives. b) Operating Authority – Air carriers participating in the connecting option are registered with the Secretary to transport goods to the place where the physical exchanges take place. c) By bill of lading, traffic in alternating traffic must be routed by car letters from the original carrier. Rates charged and revenue collected must be accounted for in the same way as there was no exchange. Fees for the use of exchanged equipment must be separated from the distribution of common rates or shares of those rates that are paid to air carriers by the application of local or proportional rates. (d) Equipment Identification – The authorized common carrier receiving the equipment must indicate the equipment it operates in exchange service as follows: d) (1) The approved common air carrier must identify units in accordance with FMCSA requirements in 49 CFR, Part 390 of this chapter (vehicle identification). Before relinquishing possession of the equipment, the carrier removes all markings that make it appear as an operating air carrier. d) 2.

Unless a copy of the exchange contract is brought to the equipment, the authorized common carrier must, during the exchange service, carry with it a statement indicating that it is operating the equipment. The statement also indicates the equipment according to the company`s company or the state registration number and indicates the specific location of the exchange, the date and time at which it assumes responsibility for the equipment and the use of the equipment. This statement is signed by the parties to the exchange agreement or their authorized representatives. The requirements of this paragraph do not apply where the exchange devices consist only of trailers or semi-trailers. d) 3. Airlines with common ownership and control may exchange aircraft without complying with the requirements of paragraph 1 of paragraph 1 of this section with respect to the removal of aircraft markings. (e) Connection supports considered to be owners – An approved air carrier that receives equipment associated with a transfer is considered to be the owner of equipment for the rental of equipment to other approved air carriers, with a view to encouraging the transfer to the destination or returning the equipment after the transfer has ended. 376.26 Exemption for leases between certified airlines and their representatives. The leasing provisions in Sections 376.12 to (l) do not apply to lease agreements between certified airlines and their representatives. [44 FR 4681, 23 January 1979. Umbedesignated at 61 FR 54707, Oct.

21, 1996. Notwithstanding the lease conditions in this section, a certified airline may lease equipment to another certified airline or a private airline may lease equipment to a certified airline under the following conditions: (a) the marking of the equipment requirements in point 376.11 (c) must be met; (b) the lessor must own or retain the equipment under a lease agreement; (c) a written agreement on equipment must be concluded between certified air carriers or between the private carrier and the approved carrier, as follows: c) (1) it must be signed by the parties or their agents.

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