An equipment loan contract is a document created whenever an individual or a company borrows equipment from another individual or a company. This document mentions the kind of equipment taken on loan, the amount or the deposit that the borrower needs to pay and also the time period for which he will be taking the equipment on loan. This document acts documentary evidence so that the equipment is not misused by the borrower.
Sample Equipment Loan Contract
Training contract number: HJ5241
Date of registering the contract: 15th of April 2011
This specific equipment loan contract has been made and entered between Chris Bale, referred to as the borrower and Glenn Equipments Limited referred to as the lender as per the laws of the state of Arizona. As per the contract, the borrower will be borrowing the cementing mortar from the office of the lender located at:
41 White Lily Street,
Arizona New Dakota 99932
This terms and conditions to be followed by both the Lender and the Borrower are:
- The contract expires on 14th of April 2013. Either of the parties can cancel the contract before the contract expiry date prior to which they need to serve a one month notice period.
- The borrower guarantees that he will not be causing any damage to the mortar. In case of any damage caused, he has to replace it with a new mortar.
In agreement to the above terms and conditions:
Signature of the borrower Signature of the lender:
Chris Bale Lenny John
(Manager, Glenn Equipments Limited)