A restaurant equipment lease is a document which outlines the main terms and conditions by which a piece of restaurant equipment will be hired by a lessee from an organization or person called the lessor. It is a legally valid document and must be accorded the respect that deserves. A restaurant equipment lease must be written using the correct terminology and must ratified by the appropriate authorities.
Sample Restaurant Equipment Lease:
The following is a restaurant equipment lease which testifies to the agreement between Mr. Duncan Jones of Everyman Electrical Goods [hence forth referred to as the lessor] and Mr. Samuel Gomes, of Sasha’s Grill [hence forth referred to as the lessee] regarding the leasing of twenty grilling ovens by the former to the latter. The twenty ovens are brand new and will be leased for duration of twelve months. The date of commencement of the restaurant equipment lease is the 1st of June 2011 and the date of termination of the lease agreement is 1st June 2012. Any damage caused to the restaurant equipment will incur appropriate penalty under the aegis of the New York State Court.
The terms and conditions governing the restaurant equipment lease must be read carefully and adhered to at all circumstance. It is mandatory that the lessee shall pay an initial amount to the lessor [check overleaf for details of financial payments] and also a monthly rent as agreed to by both parties.
Signature of lessor: _________________________
Signature of lessee: _________________________
Signature of advocate: _______________________
Signature of witness: ________________________
Date: 20th May 2011
Place: New York