Business equipment lease template

BUSINESS EQUIPMENT LEASE

Demand Signatures is not a law firm and does not provide legal advice. This template is general information and may not fit your situation. Consult an attorney about your document and applicable requirements.

IMPORTANT NOTICES

Demand Signatures is not a law firm and does not provide legal advice. This template is general information and may not fit your situation. Consult an attorney about your document and applicable requirements.

Draft for review. US ordinary business use only; state selection is not a state-law compliance check. Obtain advice on mandatory rules before use.

PARTIES

This agreement is effective [Effective date] between [Lessor legal name], of [Lessor notice address and email], and [Lessee legal name], of [Lessee notice address and email].

EQUIPMENT AND TERM

Lessor leases [Equipment, serials, accessories and initial condition] to Lessee from [Lease start] through [Lease end]. Lessor retains ownership. This is an ordinary equipment rental without a purchase option, financing arrangement or automatic renewal.

RENT AND DEPOSIT

Rent terms: [Rent amount, frequency, due dates and taxes]. Refundable deposit: [Refundable security deposit]. The deposit is not rent. Within [Days for deposit accounting after return] days after return, Lessor will provide an itemized accounting with evidence of lawful deductions and return the remaining deposit; mandatory shorter deadlines control.

USE AND CARE

Permitted use/location: [Permitted business use and location]. Lessee will use trained operators and follow applicable safety instructions and law, and will not transfer, sublease or materially alter the equipment without written consent. Maintenance and repairs: [Maintenance and repair allocation]. Insurance and damage responsibility: [Agreed insurance and damage responsibility]. Ordinary wear is not damage; Lessee is not responsible for Lessor's negligence or undisclosed pre-existing defects.

DELIVERY, DEFECTS AND RETURN

Parties will record delivered condition and accessories. Lessor confirms authority to lease and will disclose known safety defects. Lessee must promptly stop unsafe use and report defects; the parties will agree safe repair, replacement or termination and appropriate rent adjustment. Return terms: [Return location, delivery method and condition standard]. No automatic penalty or accelerated future rent is imposed.

DEFAULT AND ENDING

Either party may terminate for a material breach remaining uncured 10 days after written particulars, subject to mandatory law. Early termination otherwise requires written agreement. On expiry or lawful termination, Lessee returns equipment and pays accrued rent and documented agreed charges. Recovery must be lawful and may not breach the peace; this form does not authorize forced entry.

NOTICES, CHANGES AND GOVERNING LAW

Notices must be sent in writing to the addresses above and are effective upon confirmed receipt. Each party will keep its notice details current. Amendments require a writing signed by both parties. Neither party may assign its obligations without the other's written consent, except as mandatory law permits.

This document and its expressly incorporated schedules are the entire agreement on its subject. The laws of [Governing state] govern, subject to mandatory applicable law. Invalid provisions do not invalidate the remaining terms to the extent they can operate independently. A failure to enforce a term is not a waiver. Each signer confirms authority to bind the named party. Counterparts together form one agreement. Parties may agree to electronic signatures where permitted; no party is required by this clause to accept an electronic signature.

SIGNATURES

Lessor authorized signer: ____________________

Signature: ____________________ Date: ____________________

Lessee authorized signer: ____________________

Signature: ____________________ Date: ____________________