A finance lease agreement is a document which enfolds a commercial lease of an asset or assets against payment to help in the recovery of the price of the asset. It is prepared in a legal setting and carries legal concern. Thus it should be responsibly packed with the crucial information particularly important for the lease and the parties.
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Sample Finance Lease Agreement
This finance lease agreement is set up between Harman Pasta (the lessee, who is hereby referred to as A) and Global Finance Agency (the lesser, who is hereby referred to as B). The lease is developed on the condition that A and B will conform to the said regulations. Thus the parties have avowed to follow the following terms of the lease:
A has been granted a lease of a piece of machinery by B [refer to the invoice of the machinery and payment details]
The lease duration is due to start from 10 am on 4th January, 2011 and end at 11 am on 5th January, 2012.
The machinery under discussion is presently located at 3, Super Street, US which would be delivered to A at his office address which is 7, Twin Towers, New York.
A has acknowledged that the expenses pertaining to the delivery, transport, withdrawal will be overseen by him.
The ownership of the asset belongs to the exclusive right of B and allows A to take possession of it only for the stipulated time period immediately after which the lease will be terminated without necessitating any further legal process.
Zen God (GFA)