A solar equipment lease is basically a document that clearly states all the terms and conditions included in the agreement to either purchase or rent solar equipment on lease. Solar equipments are very much in use now-a-days owing to their eco-friendly nature; hence, the lease details should be presented lucidly so as to outline all aspects and eliminate all possibilities of future complications related to the deal.
Sample Solar Equipment Lease:
Lease Number: 472968
This lease is to confirm that I, Martina Hathaway, as lessee, have taken a photovoltaic solar system on lease [model: PV 6734] from lessor James Stevenson, owner of the Energy Equipment Companies Pvt. Ltd., on the 7th day of June, 2011. The lease will remain valid till the 10th of June, 2013. The details of the solar equipment lease have been provided henceforth:
- Date(s) of validity of lease: 7th June, 2011 – 10th June, 2013
- An initial payment of $4500000 has been already done by a cheque issued in favor of the company [cheque no.: 439104]. The remaining amount of $650000 will be paid on completion of the term of lease.
- Attested photocopies of identity and residential proof, company license and income records have been enclosed with the lease document.
- The lease has been signed in presence of: Alexander Stewart [law attorney]
- The solar equipment, which is to serve as a clean source of energy, will from now onwards be the responsibility of the lessee and any damage to or malfunctioning of the equipment will be considered as a breach of contract.
- The lessee will be answerable for such breach of contract and will have to pay a fine of $500000 and can also be imprisoned for a term of upto 5 years.