Legal Question in Business Law in Washington
Sublease
What forms are required for one trucking company to sublease equipment to another trucking company to protect company's equipment and legal liability.
1 Answer from Attorneys
Re: Sublease
Here's a lawyerly answer; that depends.
Probably the best approach is to have a contract written which addresses all liability issues including damage to equipment, responsibility for insurance, responsibility for licensing, and so forth. If the lessor trucking company does not own the equipment outright, it might want to also check and make sure terms of its loan permit it to lease the equipment. Lessor and lessee should also both check with their respective insurance companies to see what they require. Lessor may also want to do a protective UCC filing with the state to establish that the equipment is leased and prevent lessee's creditors from attaching it, should that become an issue.
Depending on what kind of trucking is involved, the applicable regulatory agency may also have requirements.
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