Free Sales Equipment Lease Agreement Template
Sales Equipment Lease Agreement
This Sales Equipment Lease Agreement ("Agreement") is officially executed on April 10, 2054, ("Effective Date") between [Your Company Name], identified by its email [Your Company Email], physical address at [Your Company Address], contact number [Your Company Number], website [Your Company Website], and social media presence, hereinafter referred to as the "Lessor" or "Seller," and [Your Partner Company Name / Second Party], known by their email [Your Partner Company Name / Second Party Email], registered address at [Your Partner Company Name / Second Party Address], contact number [Your Partner Company Name / Second Party Number], and social media presence, hereinafter referred to as the "Lessee" or "Buyer."
WHEREAS, Lessor is engaged in the business of selling and leasing equipment; and
WHEREAS, Lessee wishes to lease certain equipment from Lessor for the purpose of [Product / Event Name];
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:
I. Equipment Description
Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, the following equipment (the "Equipment"):
A. Equipment Description
A fleet of ten industrial-grade construction vehicles, including excavators, bulldozers, and loaders.
B. Serial Numbers
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1Z2X-455G-VF76-9HJ1
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SW3G6-J8YKP-7H1BH-J2BB0
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73A4G-9B6SN-H3A8J-J32B2
II. Lease Term
The initial lease term shall commence on the Effective Date and continue for a period of 36 months.
A. Lease Payments
Lessee agrees to pay Lessor the total sum of $120,000 as follows:
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Initial Payment: $30,000 due on the Effective Date.
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Monthly Payments: $2,500 to be paid on the 1st day of each month for the duration of the lease.
III. Delivery and Acceptance
The Equipment shall be delivered to the following address: [Your Partner Company Name / Second Party Address]. Upon delivery, Lessee shall inspect the Equipment and, within 10 business days, notify Lessor of any defects or discrepancies. Failure to provide notice within this period will be deemed as Lessee's acceptance of the Equipment in its current condition.
IV. Maintenance and Repairs
Lessee shall be responsible for any maintenance and repair costs incurred during the lease term. Lessor will provide the Equipment in good working order at the beginning of the lease.
V. Ownership
The Equipment shall at all times remain the property of Lessor. Lessee shall have no rights, title, or interest in the Equipment other than the right to possess and use it in accordance with this Agreement.
VI. Return of Equipment
At the end of the lease term, Lessee shall return the Equipment to Lessor in the same condition as when received, reasonable wear and tear excepted. Lessee shall be responsible for all return shipping costs.
VII. Default
In the event of Lessee's failure to make any lease payments, Lessor may declare this Agreement in default and repossess the Equipment without notice. Lessee shall be responsible for any costs associated with collection or repossession.
VIII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
IX. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties.
IN WITNESS WHEREOF, the parties hereto have executed this Sales Equipment Lease Agreement as of the Effective Date.
[Your Company Name]
[Your Name]
[Your Title]
[Month Day, Year]
[Your Partner Company Name / Second Party]
[Representative’s Name]
[Representative’s Title]
[Month Day, Year]
