A lease-to-own agreement can be an attractive option if the tenant is considering the purchase of the equipment. 6. SITUATION. The devices are located at [CUSTOMER ADDRESS] during the term of this Agreement and shall not be removed from this location without the prior written consent of the lessor. 5. RENTAL PERIOD. This Equipment Rental Agreement begins on the effective date mentioned above and expires on [date], unless otherwise terminated in a manner that is in accordance with these Terms. After the expiry of the rental period, the tenant is required to return the appliances to the lessor at the tenant`s expense. If you are responsible for developing a template for an equipment lease agreement, there are two main types of agreements you can enter into: 16. INDEMNITY. The Tenant agrees to release and hold harmless the Owner, its subsidiaries, related companies and senior officers, representatives, partners and employees from any loss, liability, claim, claim or legal proceeding resulting from or resulting from the use of the Equipment, the functionality of the Equipment or a breach of this Agreement.
Some frequent disputes or challenges that may arise in a rental scenario are: We, the undersigned, have agreed that we have read this agreement and that we are bound by their terms and conditions of sale. 7. The tenant may under no circumstances mortgage or incriminate the rented appliances. The landlord can terminate this contract immediately if the tenant does not pay the rents on the due date or if the tenant bottles it before a competent court to protect himself against creditors. This is an example rather than a template, but you can use it to create your own agreement. It is nine pages long and contains articles like necessary insurance, damage, maintenance and taxes. The clauses are quite extensive. There are a few cases where you have to get out of an equipment rental, especially if you find that it is just a “trap”.
The good news is that you have a number of things you can do to end the equipment rental contract: it`s worth seeing how the equipment arrives at the job site. Is it an owner`s delivery or is it the contractor who picks it up? What about the return of the equipment? How does it return to your store? 10. CHANGES. The tenant may not make any changes to the equipment without the prior written consent of the lessor. All modifications are the property of the owner and are subject to it in the long term. The landlord has the right to inspect the appliances upon request during the tenant`s normal business hours. One. The tenant must keep the land in good condition.B. The tenant is responsible for all damage caused, which means that the tenant covers all repair costs.C. .