Equipment Lease Format

By | June 15, 2011

An equipment lease format serves as a guideline for an equipment lease. It contains all the statements besides the terms and conditions crucial to the lease. These propositions are accepted and agreed upon by the respective participants before validating the deal.

Sample Equipment Lease Format

This equipment lease [Lease Number: 397354] signifies that all parties involved in the transaction have clearly read and accepted the terms of contract. It is an evidential document against any breach of contract to be proved in a trial. The following are the particulars of the transaction:

First Paragraph: The first paragraph of the equipment lease must provide the names and addresses of the parties involved in borrowing and lending of the equipment. This includes detailed information about the lesser and the lessee. It should also have the name of the leasing firm and mention the name, model number and price of the equipment. A note of the physical and working condition of the equipment should also be made.  The proofs of identity and income are to be enclosed herein. The dates of the contract must be specified to indicate the valid time period of the deal.

Second Paragraph: The second paragraph should state the terms and conditions imposed on the transaction by the renting organization. It must clearly state the fact that any case of deviation from the said rules will be considered as a breach of contract and will incur appropriate penalty.

Third Paragraph: The third paragraph should have the full names and full signatures, along with the formal addresses and professional designation, of the witnesses who verify the equipment lease. Relevant documents have to be duly attested and signed. In case an affidavit is required, it must be included in the equipment lease.

Signature of lesser: ___________________               Date: ________________

Signature of lessee: ___________________                Place: ________________

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