Free Equipment Rental Contract Template
Equipment Rental Contract
This Equipment Rental Agreement (the “Agreement") entered into this first day of [Month] the "Effective Date'', is between [Your Company Name], a corporation organized under the laws of California with its principal place of business at [Your Company Address] hereinafter “Lessor'', and [Your Name], currently residing at [Your Company Address] hereinafter "Lessee".
1. Equipment
Subject to the terms and conditions of this Agreement, the Lessor rents to Lessee, and Lessee rents from the Lessor, the equipment detailed in Exhibit A attached hereto (the “Equipment").
2. Term
The term of this Agreement shall commence on [Month] [Date], [Year], and shall continue until [Month] [Date], [Year] unless otherwise terminated under the provisions of this Agreement.
3. Rental Fees
The total quantity of rental charges or fees that are to be attributed to the equipment shall exist in an expected or agreed amount denoted as [Amount]. This particular amount is expected to be delivered in full payment not later than the specified payment deadline, marked as [Date].
4. Security Deposition
When this Agreement is executed, Lessee will deposit the sum of [Amount] as a form of security with the Lessor.
5. Use of Equipment
Lessee must carefully use the leased equipment and comply fully with all related laws, city ordinances, and regulatory requirements. In essence, the lessee is responsible for legally and properly using and maintaining the equipment.
6. Repair and Maintenance
The lessee holds the responsibility for maintaining the equipment in good repair and operating condition, taking into account reasonable wear and tear. This maintenance has to be performed at the lessee's own expense, meaning all costs related to the maintenance of the equipment must be borne by the lessee.
7. Indemnity
The lessee agrees to take on the responsibility of protecting, defending, and securing the lessor from any potential legal claims or liabilities that might arise or occur as a result of the lessee's use or the fact that they have possession of the equipment.
8. Default
If Lessee fails to adhere to or fulfill any of the stipulated terms of this Agreement, the Lessor is legally empowered to exercise his or her discretion and officially declare that the Lessee has defaulted on this Agreement.
9. Termination
When this agreement concludes or is terminated for any reason, Lessee agrees and acknowledges their responsibility to return the leased equipment to the Lessor. The returned equipment should be in the same state and condition that it had when the Lessee first received it. However, the normal wear and tear resulting from regular and appropriate use of the equipment will not be considered damage or degradation in its condition.
10. Governing Law
This Agreement shall be governed by and construed under the laws of California.
IN WITNESS WHEREOF, the Parties hereto have executed this Equipment Rental Agreement as of the date first above written.
Lessor: [Your Name]
[Your Company Name]
[Date]
Lessee: [Your Name]
[Your Company Name]
[Date]
