Businessmen buy and lease equipments to interested clients. A sample equipment lease is an embodiment of equipment lease carrying the terms that transpire between a seller and a customer at the time of striking a deal. The provisions are finalised when both the parties are satisfied with them. It is a legal document and any infringement of the terms can lead to serious legal consequences. Therefore one should read and understand the terms well before signing.
Sample Equipment Lease
Lease number: 398203
This equipment lease is to confirm that I, Emma Harrison, as lessee, have leased equipment [a steel machine weighing 5000 tons] from the lesser, Thomas Brooke, owner of the Royal Builders, on 3rd August, 2011. This lease is valid till 4th August, 2013. Details of the contract are stated hereunder:
- Date(s) of validity: 3rd August 2011 to 4th August, 2013.
- Payment made: Initial amount of $100,000 has been paid to the lesser by means of a cheque [Cheque number 398202]. The remaining amount of $300,000 will be paid after the lease.
- Proofs submitted: Income Certificate, Firm License, Residential Proof [Check enclosed photocopies]. These have been duly attested.
- The deed has been closed in the witness of: Allen Hamilton [attorney at law].
- If the equipment is damaged in any way at the time of handing over, it will be considered breach of contract.
- In case of breach of contract, the lessee will be liable to a punishment of up to 6 years of imprisonment and/or fine of $400,000.
Signature[s]: ___________________________________ [Emma Harrison]
___________________________________ [Thomas Brooke]