A commercial equipment lease is a document which outlines the terms and conditions that underlie a commercial equipment transaction. It is a legal document and must be written carefully so that no error creeps into such an important document. A commercial equipment lease must address the nature of the transaction, the kind of equipment transacted, the duration of the lease and details of payment and security. The terms and conditions must be fully highlighted so that it can be understood clearly.
Sample Commercial Equipment Lease:
This document is a commercial equipment lease agreement between Deltoid Inc [henceforth referred to as the lessor] and Simon Schist Pvt. Ltd. [henceforth referred to as the lessee]. The commercial equipment lease is for a duration of twelve months, after which the lease may be renewed or revoked as per the agreements between the lessor and the lessee. The date of commencement of the contract is 2nd august 2011 and the date of termination is 2nd August 2012. The initial security deposit will be 5000USD, which will be refunded once the lease duration is over. The monthly rent that the lessee has to pay to the lessor will be decided upon further discussions. The commercial equipment to be transacted includes materials like office furniture, typewriters and computers, as well as other accessories.
The terms and conditions of this deal must be followed strictly or else legal penalties will be extracted from the erring party. All disputes regarding this commercial equipment lease agreement must be submitted to the discretionary judgment of the New York State Court.
Signature of lessor: ___________________________
Signature of lessee: ___________________________
Signature of advocate: _________________________