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. The application checklist must be submitted with this checklist because your application is not processed. Property address: Terms and conditions for submitting the fully executed sales contract or lease agreement fully executed… 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.