Many businesses prefer to lease equipment in order to stay up-to-date with the latest technology and benefit from lower monthly payments and avoiding cash-devouring down payments. An equipment lease agreement is a contract where one party (a `Lessor`) agrees to lease/rent equipment he owns to another party (a `Lessee`) for a specified time.

Every lease agreement is different, in general there several important questions to consider, such as: exactly who will you be dealing with? Is casualty insurance included? Who pays the personal property tax? Who is responsible for repairs?

Both parties must understand and agree to all of those issues, and, more, before making a deal. When and if a problem occurs, both the lessor and lessee can refer to the agreement. What`s needed is a standard lease agreement form that covers all of the matters relating to leasing equipment, but also offers flexibility to tailor the agreement.

With the equipment Lease Agreement package, you`ll have the tools you need including:
(1) Instructions and Checklist for the Equipment Lease Agreement
(2) Information about the Equipment Lease Agreement
(3) The Equipment Lease Agreement

Among others, this form includes the following provisions:
• Equipment description
• Lease Terms
• Lease Payments
• Security Deposit
• Delivery
• Defaults
• Possession and Surrender of Equipment
• How Equipment is to be used
• Condition of Equipment and Repair

This form is designed for use in the United Kingdom (England and Wales).