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Equipment Lease Agreement

EQUIPMENT LEASE AGREEMENT

Equipment lease agreement requires proper drafting of all the required clauses as agreed between the parties for lease. Draft your equipment lease agreement now with our best experts of drafting.

GET YOUR EQUIPMENT LEASE AGREEMENT DRAFTED NOW

    What is Equipment lease agreement?

    Equipment lease is a type of financing in which equipment are rented instead of purchasing it. This is a common practice that expensive equipment of the business, such as machinery, computers or vehicles. Such lease of equipment is done for a specific period of time and after the completion of contract, lessee shall buy the equipment, renew the lease or return it. An equipment lease agreement refers to an agreement the “lessor” shall gives the “lessee” the right to use but not own the lessor’s equipment for a specific period of time.

    DOCUMENT REQUIRED FOR DRAFTING

    Details of Parties & witnesses
    Details of Parties & witnesses

    Identity proof and Address proof of parties involved & witnesses.

    Contact details of authorized person
    Contact details of authorized person

    Email ID & Mobile Number.

    Related Information
    Related Information

    Any required information to be used for creating the draft.

    Supporting documents
    Supporting documents

    Any referential or supporting documents for the draft.

    HOW WE WORK

    Fill the form and make payment of nominal fee.

    1. Fill the form and make payment of nominal fee.

    Our experts will call you and collect documents.

    2. Our experts will call you and collect documents.

    Make rest fee payment.

    3. Make rest fee payment.

    Drafting of documents as per requirement and sending documents for approval.<span>Single time change is allowed(if any).</span>

    4. Drafting of documents as per requirement and sending documents for approval.Single time change is allowed(if any).

    Final documents will be shared by our experts.

    5. Final documents will be shared by our experts.

    Congratulation your draft is ready!!

    BENEFITS OF WELL DRAFTED EQUIPMENT LEASE AGREEMENT

    Serve as a Legal proof

    Written document act a documentary evidence and serve as a legal proof in the court of law.

    Show Professionalism

    Proper and correct drafting of documents give a sense of professionalism and create a serious impact over the involved parties.

    Reduce chances of dispute

    A well drafted documentation lead to clarity of the facts and laws. It reduces the chances of dispute which may occur due to oral discussions or roughly drafted documents.

    Prevent Confusions

    Good documentation practices help to prevent time-consuming missteps and confusion for all the parties involved.

    What are the key elements of Equipment lease agreement?
    • Exact description of the equipment which has to be leased
    • Duration of the lease
    • Market value of the equipment
    • Payment timelines
    • Renewal option for lease
    • Security Amount to be deposited
    • Provision for termination of agreement
    • Who shall pay for taxes on equipment
    • Conditions for Revocation of leave
    • Terms and condition for maintenance of equipments
    • Consequences for misuse and mishandling of equipments