Equipment Lease Purchase Agreement


An equipment lease purchase agreement is an agreement which is made between the owner of equipment and a person who wishes to lease the equipment for certain duration of time on the basis of a number of legally binding terms and conditions which have to be mutually agreed between the parties.

Sample Equipment Lease Purchase Agreement:

This agreement has been made effective as on 3rd July 2011

Duration of agreement: 12 months

This agreement has been made between the parties whose details are given as follows:

LESSEE

Name: Mr. Paul Newmann

Address: K-89l first floor, Peter enclave,  Hamilton Square London

Contact number: 4709370935705

LESSOR

Name: Mr. Jack Rogers

LESSOR owns the equipment and wishes to lease purchase it to the LESSEE for certain duration of time.

Address: 23-H, marks block, North Avenue London

Contact number: 4739538753290

Details of the equipment:

The equipment here is a photocopy machine of Xetox company and is 3 years old but in perfect working condition.

Monthly rent: $ 1000

Total rent: $12000

The following are the terms and conditions of the agreement:

  • The LESSOR must give the equipment to the LESSEE on the effective date and in proper and serviced working condition.
  • The LESSEE must use the machine with care and give back the equipment at end of agreement after 12 months from effective date.
  • The LESEE must make the payments well within the first week of each month.

Both the parties hereby agree to the terms and conditions of the agreement:

Jack Rogers

Paul Newmann

Category: Purchase Agreements

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