Free Template

Equipment Lease Agreement

2 signers
1 Lessor
2 Lessee
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Equipment Lease Agreement

An equipment lease agreement is done between the owner of the equipment and the individual / company who agrees to pay rent for the equipment. The agreement is done for a specified time period. This agreement is structured on a month-to-month basis and with a start and end date.

Equipment Lease Agreement​

Why is a Equipment Lease Agreement important?

The equipment lease agreement is an essential document that clearly states the terms of the lease, parties to the agreement, rights and obligations of the parties, ownership of leased asset, liability for losses and damages, warranty and guarantee clause, who is responsible for paying the taxes and maintenance costs.

Things Included in Our Equipment Lease Agreement Template?

We have created our equipment lease agreement template after having an extensive discussion with the experts and legal advisors. Our template include Lease term, Rent amount, Security deposit, Late charges, Delivery responsibility, Repairs and maintenance.

commission agreement template

Owner's (Lessor) name

This is the Business Entity or an individual, who has the legal right to rent out the equipment. The name of the person or business should be mentioned here.

commission agreement template

Renter’s (Lessee) name

 This is the person or a business who is signing the agreement to use and lease the equipment. You need to attach the Lessee’s mailing address to his or her identity as well.

commission agreement template

Description of equipment

This part should include the product name and serial number. Moreover, information such as the color, make, and model can be included. And a basic description and any identifying alteration marks that can be used to define the equipment being leased should be included.

commission agreement template

Use a template for faster processing

Creating an agreement can be tricky, and a template can help you get the most crucial job done in a jiffy.

FAQ About Our Equipment Lease Agreement​ Template

Some of the advantages of Equipment Leasing are :
  • Reduced Risk of Obsolescence.
  • Simple Source of Finance.
  • Desirable Over a Term Loan.
  • Tax Benefits.
  • Low Maintenance Cost.
  • You Don’t Own the Equipment.
  • No alteration in the asset.
  • You’re Paying Interest.
There’re 4 types of equipment.
  • Leases PUT or Purchase Upon Termination Lease
  • Capital Lease
  • Operating Equipment Lease
  • TRAC Lease

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