How it works
Whether you're interested in borrowing some gear for a project, or your organization is looking to rent out equipment, creating an Equipment Lease makes the terms of your arrangement clear. You'll want to set out your Equipment Lease before the equipment changes hands. That way, if either party has any questions or concerns, you can refer to your lease agreement to resolve things.
You can use an Equipment Lease to specify the conditions under which one person or organization can rent equipment from another person or organization. This agreement explains the rights and obligations of both parties with regard to the equipment. When creating your Equipment Lease, you'll want to include details like: the name of company, representative or individual who owns the equipment; the name of company, representative or individual who will be borrowing the equipment; a description of the equipment; the cost of the lease, and how payments will be made; the security deposit; who's responsible for repair costs; whether the lessee can alter the equipment; whether the lessor can inspect it; which party is liable for injuries; any warranty provisions; any subletting policies; whether arbitration will be used to settle disputes, and more. We'll help you create your Equipment Lease with step-by-step guidance along the way.
Other names for this document: Equipment Lease Agreement, Equipment Lease Form, Equipment Lease Contract
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