EQUIPMENT LEASE

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EQUIPMENT LEASE

Equipment Lease Agreement for lease / hire of equipment for a permitted purpose.

An equipment lease agreement is a legal contract between the owner of equipment (the lessor) and the party that wishes to use the equipment (the lessee). In this arrangement, the lessor agrees to allow the lessee to use the equipment for a specified period of time, in exchange for regular rental payments. This type of agreement is commonly used when a business or individual needs equipment but doesn’t want to purchase it outright due to high costs or short-term needs.

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WHAT IS INCLUDED

Includes PPS provisions.

The Equipment Lease Agreement includes provisions relating to:

  • Term
  • Lease,
  • Title,
  • Risk,
  • Possession,
  • Collection,
  • Use,
  • Repairs & Maintenance,
  • Reports & Records,
  • Access & Inspection,
  • Safety & Compliance,
  • Acknowledgements,
  • Lease Fee,
  • Net Lease,
  • Confidentiality, Intellectual Property Rights,
  • Insurance, Warranties,

 

  • Liability & Indemnity, Termination,
  • Events on Termination,
  • Security, Sale or Transfer,
  • Records & Audit,
  • Disputes,
  • Taxes,
  • Notices,
  • Assignment,
  • Set Off,
  • Publicity,
  • Severability,
  • Precedence,
  • Entire Agreement,
  • Waiver,
  • Further Assurances,
  • Variations,
  • Advice,
  • Counterparts,
  • Cumulative Rights,
  • Costs and Governing Law

21 pages long

 

INCLUDES GST

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