Agreement of Equipment Leash

 

Agreement of Equipment Leash

 

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This Leash Contract is made on ________________ (Date) between the Owner of the

equipment _________________ (Name of the Firm), __________________(address) and

The Borrower of the Equipment___________________________________(name of the

other unit) (address) regarding the leash of ________________________ (Describe

Industry) Equipments.

NOW THIS AGREEMENT WITNESSES AS UNDER:

  1. The Owner _____________________ (name) hereby leases the firm

__________________________(borrower name) the following equipment attached below.

  1. The agreement with the firm is agreed for a time period of ________________ (no of

years) from the date of this agreement. This can be modified with the consent of both the

parties.

  1. Any confidential information between the parties shall be duly maintained. In case, it’s

misused, the other has the right to take actions on it.

  1. During the course of above-mentioned period the total amount of in words Rs.

___________________ to be paid by the borrower to the owner.

  1. B if there is any delay in payment for more than one month, an interest of 10% per annum

shall be charged on principle amount.

  1. The borrowers agrees to take care of the equipment while properly repairing and

maintaining it periodically.

  1. The borrower also agrees to take care of all legal judicial expenses damages injuries or

other expenses related to the equipment.

  1. The borrower also agreed to use the equipment in the bounds of law as applicable and

agrees that the owner will not be liable for any misuse of the equipment.

  1. Borrower agrees to keep the equipment under its own position and to not further lease it

or rent it to other third party.

  1. In case the company wants to terminate the dealership, it has to give one-month prior

notice the firm in the regard.

NOW, THEREFORE, in consideration of the above stated points, both the parties

acknowledge this and agree as follows:

 

_________________________ _________________________

Name of Owner Name of Borrower

_________________________ _________________________

Signature of Owner Signature of Borrower

_________________________ _________________________

Date and Place Date and Place

 

Download Document (.docx) format

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