The standard agreement governing a driver assigned a vehicle under Frenno Transport Service Ltd's vehicle payment arrangement.
This page sets out the standard Driver Vehicle Payment and Ownership Agreement ("this Agreement") used by Frenno Transport Service Ltd, a company operating from Benin City, Edo State, Nigeria ("Frenno", "the Company", "we", "us"). It is provided for information so that a prospective or current driver can review the terms that apply to Frenno's vehicle payment arrangement. Your own signed copy — with your personal details, vehicle details, and dates completed — is the specific document that governs your individual arrangement with Frenno; where anything on this page and your signed copy differ, your signed copy governs.
This Agreement is between:
The Driver's full name, contact details, and identification information are recorded in the signed copy of this Agreement and in Frenno's driver records. The Driver confirms that all information provided to Frenno in connection with this Agreement is true, accurate, and complete.
The specific vehicle assigned to the Driver under this Agreement — including its registration/plate number, make, and category — is recorded in the signed copy of this Agreement and in Frenno's vehicle records.
Frenno currently operates the following vehicle categories under this Agreement:
The vehicle value, weekly payment, and payment period applicable to the Driver's specific vehicle are confirmed in the signed copy of this Agreement. Frenno may introduce, amend, or discontinue vehicle categories and their associated figures from time to time; any such change only applies to a Driver once reflected in a signed agreement with that Driver.
The Driver agrees to pay Frenno the weekly payment stated above (currently ₦100,000 per vehicle per week) for the use of the vehicle, until the total vehicle value has been paid in full over the applicable payment period, or until this Agreement is otherwise terminated in accordance with its terms.
The date on which weekly payments commence is recorded in the signed copy of this Agreement, and is ordinarily the date the vehicle is handed over to the Driver for operation.
Payments are due weekly, in the amount stated above, for the full payment period. The Driver may make payments in one or more instalments within a given week, provided the full weekly amount is received by the end of that week. Frenno (or its designated platform) will maintain a record of payments made, which the Driver may access.
The Driver agrees to:
The vehicle is to be used solely for lawful commercial transport operations consistent with the purpose for which it was assigned. The Driver shall not use the vehicle for any illegal purpose or in any way that voids its insurance or breaches applicable law.
Except where otherwise agreed in writing, the Driver is responsible for fuel and day-to-day operating expenses associated with running the vehicle.
The Driver agrees to take reasonable care of the vehicle and to promptly report any fault, damage, or required repair to Frenno. Arrangements for routine maintenance and repairs, and how their cost is handled, are as set out in the signed copy of this Agreement and Frenno's applicable policies at the time.
Where the vehicle is insured, the Driver agrees to operate it in a manner consistent with the terms of that insurance and to promptly notify Frenno of any incident that may give rise to an insurance claim. Details of the specific insurance arrangement (if any) applicable to the vehicle are as set out in the signed copy of this Agreement.
The Driver is responsible for any traffic fine, penalty, or similar charge arising from their own operation of the vehicle during the period it is assigned to them.
The Driver agrees to immediately report any accident, loss, or damage involving the vehicle to Frenno. Responsibility for the cost of repair or replacement will be determined based on the circumstances of the incident, any applicable insurance cover, and the terms of the signed copy of this Agreement.
The Driver has no right, at any time before completion of the payment obligation under this Agreement (and fulfilment of any other applicable conditions), to sell, transfer, sublease, pledge, encumber, or otherwise dispose of the vehicle, or to allow any third party to operate it without Frenno's prior written consent. Any unauthorized act of this kind is a serious breach of this Agreement.
The Driver agrees to take reasonable steps to keep the vehicle secure at all times, including when parked, and to promptly report any theft or attempted theft to Frenno and to the Nigeria Police Force.
Frenno maintains a record of payments made under this Agreement. The Driver may request a statement of their payment history at any time, and is encouraged to keep their own record of payments made, including any reference or receipt provided.
The Driver is in default under this Agreement if they fail to make a weekly payment in full when due, breach any other material term of this Agreement, or use the vehicle in a manner inconsistent with this Agreement or applicable law.
Where the Driver repeatedly fails to make payments on time or in full, Frenno may treat this as a material breach of this Agreement, and may take any of the steps described in this Agreement, including engaging the Driver to resolve the shortfall, suspending the Driver's use of the vehicle, or terminating this Agreement.
Where the Driver is in default and has not remedied that default within a reasonable period after being notified by Frenno, Frenno (or the applicable vehicle owner) may recover or repossess the vehicle. Any such repossession or recovery will be carried out in accordance with applicable Nigerian law and the terms of the applicable signed agreement, and not otherwise.
This Agreement may be terminated: by mutual written agreement of the parties; by Frenno, where the Driver is in material default that remains unremedied after reasonable notice; or by the Driver, on reasonable notice to Frenno, subject to settlement of any outstanding payment obligation. Termination does not, by itself, extinguish any payment obligation that had already accrued before termination.
Once the Driver has paid the full vehicle value in accordance with the agreed payment schedule (and fulfilled any other conditions confirmed in the signed copy of this Agreement), the Driver's weekly payment obligation under this Agreement ends.
Subject to the terms of the applicable vehicle agreement and fulfilment of all payment and other contractual obligations under it, Frenno (or the applicable vehicle owner) will take the steps reasonably necessary to transfer ownership of the vehicle to the Driver. This Agreement does not, by itself, transfer ownership before that point, and nothing on this page should be read as a representation that ownership transfers automatically in circumstances where the applicable signed agreement does not provide for it.
The parties will first attempt to resolve any dispute arising from this Agreement through good-faith discussion. If a dispute cannot be resolved this way, either party may pursue any remedy available to them under applicable Nigerian law, including through the courts of Nigeria.
This Agreement is governed by, and is to be interpreted in accordance with, the laws of the Federal Republic of Nigeria.
The signed copy of this Agreement, together with any documents it expressly refers to, constitutes the entire agreement between Frenno and the Driver regarding the vehicle described in it, and supersedes any prior discussion or understanding on that subject, except where the parties expressly agree otherwise in writing.
This Agreement may only be amended by written agreement signed by both Frenno and the Driver. Frenno may update the standard form of this Agreement published on this page from time to time; such an update does not, by itself, change the terms of an agreement already signed by a Driver.
By signing the individual copy of this Agreement, the Driver acknowledges that they have read, understood, and agree to be bound by its terms, that they have had the opportunity to ask Frenno questions about it, and that they enter into it voluntarily.
Driver's Signature: _______________________ Date: ______________
Full Name: _______________________________
For Frenno Transport Service Ltd — Signature: _______________________ Date: ______________
If you have any questions about this Agreement, please contact us at Frennotechnologiesltd@yahoo.com.