An equipment lease rent is a formal and legally binding document which is used by a lessor and lessee to lay down the terms and conditions of an equipment lease. These documents consist of legally enforceable clauses which have to be followed by both the parties.
The lessor agrees to put an equipment of lease while the lessee agrees to pay lease payment in return for using the equipment. For your reference, given below is a sample of an equipment lease rent which can be used by anyone.
Sample Equipment Lease Rent
This equipment lease rent has been formed as on 29th Oct 2011 and shall remain into effect for 12 months.
The termination date of lease: 29th Oct 2012
The LESSOR agrees to put the equipment on lease and the LESSEE agrees to pay the rent amount for the usage of the equipment of 12 months.
Details of LESSOR:
Name: Mr. Jack Mathews
Residential address: A-45, second floor, Jill Street, London
Contact number: 430974034
Details of LESSEE:
Name: Mr. Peter Andrews
Residential address: 2-g, first floor, Kell road, London
Contact number: 4309470350
Details of the equipment:
Type: construction machine
Model number: Fedrick driller
Equipment lease rent amount per month: $150
The payment shall be paid in cash
Terms and conditions of agreement:
- The LESSOR agrees to give the equipment on lease to LESSEE and LESSEE agrees to make lease rent payment every month within the first week.
- The LESSEE shall be charged $10 per day if he fails to make lease payment on time.
- The LESSEE agrees to keep the equipment in proper working condition for the effective period and is responsible for its repair and servicing.
- The LESSOR can inspect the equipment whenever he wishes to.
Signatures of the parties: