The major investment in the business is for photocopiers. It requires a lot of money. So leasing a copier requires only small amount of money. Copier leasing also reduces the tax payments. But when you want to lease a copier you might pay more amounts in the long term process than the amount when you buy. When you don’t want to continue with the copier lease you may think of how to cancel a copier lease. Breaking of the copier lease is based on the agreement. The cancellation of the copier lease is described below.
Steps for cancelling or breaking a copier lease
- Go through the terms and conditions of your copier lease. Then try to find your rights, responsibilities and possibilities. Look for the penalties or fee for terminating or breaking the lease, breaking clauses, and legal responsibilities. This helps you in learning your position legally.
- Check for the performance standard section. This section allows you to break the lease if the performance of copier does not satisfy the legal requirements.
- Review if there is any service agreement with the lease agreement. If the company fails to satisfy the minimal service level contracts then you may have a chance to sue the organization or company for failure of duty.
- Review the rental assumption section. You can find a sublease to assume your leftover lease. When the company permits rental assumptions then there is a chance of transferring the obligation to another party. If you signed any personal guarantee in the agreement then it would be difficult to break the agreement.
- If your agreement is only few days older or if you have not accepted any delivery then it would be much easy to break the agreement without any problem.
Breaking copier equipment lease
- Try to read the agreement carefully. Look for the termination clauses. Termination clauses may be tricky to find. You can easily get out of the lease if your equipment is not working.
- Read the regulating laws of the lease, by this you may find specific situations which enable you to break or get out of the lease.
- Take an assistance of a lawyer. Lawyer may provide a sound advice. Prepare a document of why do you want to get out of the agreement. If you have any receipts collect them all and prepare a folder. This may determine your breaking lease would work or not.
- You should show the evidence to the equipment owner for breaking lease.