An equipment commercial lease, as clear from the term, is the buying of certain required equipments from some company on lease. Such a deal is quite advantageous in recent times, but should be carefully read and understood to avoid being trapped in the unsaid limits of terms and conditions, as many a lease is eligible for future deduction.
Sample Equipment Commercial Lease:
This commercial lease has been prepared in the legal presence of both parties involved who, in their proper state of mind have read and declared to have understood all clauses of the aforesaid deed. It has been vowed by all that every rule pertaining to the lease will be strictly followed. The particulars of the transaction have been stated below:
Commercial Lease Number: 5628936
Leaser name and address: Richard and Sons Pvt. Ltd.
44, Houston Apartment, New York
Lessee name and address: James Constructions Pvt. Ltd.
66, Beaver Lane, New York
Date of signing the equipment commercial lease: 6th June, 2011
Lease valid till: 6th June, 2016
Details of the equipment commercial lease transaction:
- Total number of equipments: 34 (including every single piece needed)
- Cost: $ 78000
Purpose of the lease: The equipment commercial lease is being drawn up for the construction project recently undertaken by the company [no. 3956]. The lease will remain valid for a span of five years, during which each of the equipment will be the lessee’s responsibility, failing to maintain the normal state of which will be declared a punishable offence.
The lease is subject to future deductions, under Section 179.
Witnesses to the lease:
- Jimmy McKinley: ____________________________________
- Advocate Justin Rogers: __________________________________
Hereby I declare to have gone through all terms and conditions and accepted them completely.