An equipment lease form is a formally drafted document which is made by and between two parties, wherein one agrees to lease equipment to another by charging a lease payment in return. These forms consist of the legally binding terms and conditions which are mutually formulated by the parties and are obligatory for them to abide. Any such form is important as it serves as a legal proof. Given below is a sample of an equipment lease form which can be used by anyone for reference purpose.
Sample Equipment Lease Form
This equipment lease has been formed by and between Mr. Tim Gregson who is herein referred to as the LESSOR and Mr. Bill Potter who is herein referred to as the LESSEE.
Details of the parties:
Address: D-90, first floor, Markson square, LA
Phone number: 47032470324
Address: S-89, second floor, Peter’s enclave, LA
Phone number: 4732983389
This equipment lease has been made effective as on 3rd July 2012 and shall remain in effect for 12 months.
Details of equipment:
Type: Photocopy machine
Model number: Canon d-Q4
Details of lease:
Rental payment per month: $100
Total rental payment: $1200
Terms and conditions of equipment lease:
- The LESSOR agrees to lease the equipment to the LESSEE for 12 months on the condition that the LESSEE must return the equipment on the last date of lease term.
- The LESSEE agrees to take care and pay for the maintenance of the equipment himself during the lease term.
- The LESSOR can inspect the equipment whenever he wishes to but only by sending a prior letter to the LESSEE.
- The LESSEE must make the rental payments within the first week of each month.
- Both the parties must abide by all the terms to avoid legal implications.