(c) a written agreement on the equipment shall be concluded between the authorized carriers or between the private carrier and the authorized carrier: (k) trust funds. If trust funds are required, the lease must indicate: (6) The conditions that the lessor must meet to repay the trust fund. At the time of return of the trust fund, the authorized carrier may deduct funds for the obligations of the lessor previously defined in the lease and shall make available to the lessor a final statement of all such final deductions to the trust fund. The lease agreement also stipulates that the trust fund may under no circumstances be returned more than 45 days after the date of termination. (h) subletting. A written contract in which the tenant grants another the use of rented devices with or without a driver. a person who is not a driver and who transports a motor vehicle in intergovernmental or foreign trade where (1) the person owns, less or is the owner, lessee or surety of the goods being transported; and (2) the property is transported for sale, lease, rental or suretyship or promotion of a commercial enterprise. (b) fixed duration. The lease indicates the time and date or circumstances in which the lease begins and expires. These periods or circumstances correspond to the periods for issuing receipts prescribed in subsection 376.11 (b). (a) leasing. There is a written lease agreement that grants the use of the devices and meets the requirements of section 376.12. (f) payment period.
The rental contract provides that payment to the lessor must be made within 15 days of the presentation of the delivery documents necessary for a trip to the service of the authorized carrier. The documents required before the lessor can receive payment are limited to logbooks required by the Department of Transport and documents required by the authorized carrier to ensure payment to the shipper. In addition, the lease may provide that, upon termination of the lease agreement, the lessor shall, as a condition precedent for payment, remove all the identification devices of the authorized carrier and return them to the carrier, except in the case of an identification directly painted on the equipment. If the identification device has been lost or stolen, a letter attesting to its removal meets this requirement. Until this requirement is met, the carrier may withhold the remaining payment. The authorized carrier may require the presentation of additional documents by the lessor, but not as a precondition for payment. Payment to the owner is not subject to the presentation of a bill of lading for which no exception has been made. The authorized carrier may not set deadlines for the presentation by the lessor of the necessary delivery documents. . . . .