Company equipment lease is a legal contract wherein a company lends out equipment to another company or private individual for commercial purpose. The document should be prepared in clear and understandable terms so that the readers involved are not stifled or deluded by the legal implications of the heavy phrases in the lease.
Sample Company Equipment Lease
Lease number: 42581718
The following company equipment lease rigidly specifies that a lease transaction has taken place between Giant Equipments (company) and Mr. Harrison Ford (businessman), located/residing at the given addresses.
Date of sealing: The lease has been negotiated and approved by the parties on 4th April, 2011.
Date of commencement: The term begins from 6th December, 2011 and continues till 6th December, 2013, for a maximum time period of 2 years.
Termination: It would remain open to termination by the termination clause wherein any one party will have to produce a written notice in advance and bring a termination notification.
Security deposit: Payment of $40, 000 has been made which would be duly refunded to the lessee after the end of the contract.
Due payment: An amount of $5,000 is yet to be paid to legally formalise the lease contract.
Rental: The interest rate has been fixed at 6% against the total amount and sanctioned by both the parties.
Lawsuit: A lawsuit will be slapped on the party who violates the terms and conditions.
Court of jurisdiction: Any legal matter pertaining to the lease would be governed by the US tribunal court of law.
Signature: Gem Cruz (lesser)
Signature: Harrison Ford (lessee)