An equipment lease application is a document which outlines the terms and conditions that will govern an equipment lease between a lessor and a lessee. It is a legal document and must be written precisely, clearly and highlighting all the important information that is a part of the equipment lease. It must be written on bond paper and signed and ratified by all the necessary authorities.
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Sample Equipment Lease Application
This equipment lease application is made by Karen Rogers of Copier and Printers Pvt. Ltd. [henceforth known as the lessee] in order to borrow ten copier machines from Electro Shoppe Pvt. Ltd. [henceforth known as the lessor]. The duration of the equipment lease will be two years. This equipment lease application is the result of verbal negotiations between the lessor and the lessee.
The price of the ten copier machines, collectively, is $1 million according to current price estimations. The lessee shall pay an initial amount of $45000 to the lessor as refundable security deposit. The lessee shall then pay monthly deposits of $ 4500 [2 percent interest] for the remaining period, at the end of which, the security deposit shall be refunded. The date of commencement of the equipment lease is 23rd June 2011 and the date of termination of the equipment lease is 23rd June 2013.
All terms and conditions have to be clearly understood by both the lessor and the lessee. In case of any disputes, the case shall be referred to the Tribunal of New York for further analysis.
Signature of lessor: __________________________
Signature of lessee: _________________________