[Code of Federal Regulations]

[Title 49, Volume 5]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 49CFR376.11]



[Page 125-126]

 

                        TITLE 49--TRANSPORTATION

 

                      DEPARTMENT OF TRANSPORTATION

 

PART 376_LEASE AND INTERCHANGE OF VEHICLES--Table of Contents

 

                      Subpart B_Leasing Regulations

 

Sec. 376.11  General leasing requirements.





    Other than through the interchange of equipment as set forth in 

Sec. 376.31, and under the exemptions set forth in subpart C of these 

regulations, the authorized carrier may perform authorized 

transportation in equipment it does not own only under the following 

conditions:

    (a) Lease. There shall be a written lease granting the use of the 

equipment and meeting the requirements contained in Sec. 376.12.

    (b) Receipts for equipment. Receipts, specifically identifying the 

equipment to be leased and stating the date and time of day possession 

is transferred, shall be given as follows:

    (1) When possession of the equipment is taken by the authorized 

carrier, it shall give the owner of the equipment a receipt. The receipt 

identified in this section may be transmitted by mail, telegraph, or 

other similar means of communication.

    (2) When possession of the equipment by the authorized carrier ends, 

a receipt shall be given in accordance with the terms of the lease 

agreement if the lease agreement requires a receipt.

    (3) Authorized representatives of the carrier and the owner may take 

possession of leased equipment and give and receive the receipts 

required under this subsection.

    (c) Identification of equipment. The authorized carrier acquiring 

the use of equipment under this section shall identify the equipment as 

being in its service as follows:

    (1) During the period of the lease, the carrier shall identify the 

equipment in accordance with the FMCSA's requirements in 49 CFR part 390 

of this chapter (Identification of Vehicles).

    (2) Unless a copy of the lease is carried on the equipment, the 

authorized carrier shall keep a statement with the equipment during the 

period of the lease certifying that the equipment is being operated by 

it. The statement shall also specify the name of the owner, the date and 

length of the lease, any restrictions in the lease relative to the 

commodities to be transported, and the address at which the original 

lease is kept by the authorized carrier. This statement shall be 

prepared by the authorized carrier or its authorized representative.

    (d) Records of equipment. The authorized carrier using equipment 

leased under this section shall keep records of the equipment as 

follows:

    (1) The authorized carrier shall prepare and keep documents covering 

each trip for which the equipment is used in its service. These 

documents shall contain the name and address of the owner of the 

equipment, the point of origin, the time and date of departure, and the



[[Page 126]]



point of final destination. Also, the authorized carrier shall carry 

papers with the leased equipment during its operation containing this 

information and identifying the lading and clearly indicating that the 

transportation is under its responsibility. These papers shall be 

preserved by the authorized carrier as part of its transportation 

records. Leases which contain the information required by the provisions 

in this paragraph may be used and retained instead of such documents or 

papers. As to lease agreements negotiated under a master lease, this 

provision is complied with by having a copy of a master lease in the 

unit of equipment in question and where the balance f documentation 

called for by this paragraph is included in the freight documents 

prepared for the specific movement.

    (2) [Reserved]



[44 FR 4681, Jan. 23, 1979, as amended at 49 FR 47269, Dec. 3, 1984; 49 

FR 47850, Dec. 7, 1984; 50 FR 24649, June 12, 1985; 51 FR 37406, Oct. 

22, 1986; 62 FR 15424, Apr. 1, 1997]