An Equipment lease contract entered between the equipment owner company and the interested lessee party. Such a contract consists the details of the equipments, effective dates of the contract and payment terms, etc.
Sample Equipment Lease Contract:
Contract number: EP/ 560
Date: December 23rd, 2010
Hereby, this equipment lease contract is produced between Eagles Equipments Pvt. Ltd, located at: Plot No: 78, Industrial Area, Spencer Street, Ottawa, Canada, hereinafter called as the lessor party.
P& G Fitters Pvt. Ltd, located at: Shop No: 34/L, New Salt Lake City, Ottawa, Canada, hereinafter known as the lessee party.
Name of the equipment: Fitting Machine
Condition: Brand New
This contract is commencing on December 24th, 2010 and is ending on December 24th, 2012.
Underneath mentioned terms are committed between both the parties:
The lessor party will maintain the full record of the paid amount to avoid future miscommunication, whereas the lessee party will be responsible for the full maintenance of leased fitting machines.
The lessee party will pay $ 2000 as security and the monthly rental of $560 will be paid to the lessor party on 6th of every month. The contract fee will be shared by both the parties.
Termination of the contract:
The termination can happen in case of any unsettled issue of serious nature is encountered between the parties.
Acceptance of the equipment lease contract:
Signed by the lessor party:
Signed by the lessee party:
Signed by the witness: