An Equipment Lease Agreement is commonly used when one party rents or leases equipment to another for a specified price and time. It is important to have a written Equipment Lease Agreement for a variety of reasons. A written agreement clearly sets out the terms of the agreement (price, term, and liability for repairs) and the rights and obligations of each party. Should a dispute arise, the parties have a written agreement to refer to for guidance.

Equipment Lease Agreements are frequently used by businesses who do not want to invest in their own equipment. By leasing the equipment business owners are able to access the newest business tools without paying a high purchase price. There are many different scenarios where leasing equipment makes great business sense and this form can easily be tailored to meet a party’s specific needs.

This Equipment Lease Agreement includes the following provisions:

• Equipment: Detailed description of the equipment to be leased;
• Lease Terms: Includes the term, payments and identification of the parties;
• Security Deposits: Indicates the amount of any deposit;
• Default: Defines what constitutes a default;
• Possession and Return of Leased Equipment: Sets forth the parameters regarding possession and how equipment shall be surrendered;
• Use of Equipment: Covers use, maintenance and storage of the equipment;
• Condition of Equipment: Verifies the equipment is in an acceptable condition at the onset of the lease term.

Protect your Rights and your Property by using our professionally prepared up-to-date forms.

This attorney-prepared packet contains:

1. Instructions and Checklist
2. Information
3. Equipment Lease Agreement

State Law Compliance: This form complies with the laws of all states