All Templates
/
contract types
/
🧰 Equipment hire agreement

🧰 Equipment hire agreement

About this category

A equipment hire agreement is a legal contract between a company and an individual that outlines the terms of the equipment rental. The agreement should include the length of the rental, the price, the equipment to be rented, and any other pertinent information. The agreement should also outline the responsibilities of both parties, and any legal liability that may arise from the use of the equipment.

Note: Working on a legal issue? Try our AI Legal Assistant - It's free while in beta 🚀

Use our legal assistant

🧰 Equipment hire agreement

templates

Hire Agreement For Equipment (Lessee Friendly)

This is an agreement between two businesses for the hiring of equipment, drafted from the perspective of the lessee. It includes an optional clause that gives the lessee the right to purchase the equipment at the end of the term, making it a hire purchase agreement.

What to watch out for

  • The agreement should be between two businesses, from the perspective of the lessee.
  • The agreement should contain an optional clause providing the lessee with a right to purchase the equipment at the end of the term.
  • If this clause is included, the agreement becomes a hire purchase agreement.
    • Contract template sketch
    5
    An outline stencil of a pencil to represent the number of uses this contract template has had.
    11
    Share icon, to represent the number of times this template has been shared by Genie AI users
    3
    Publisher

    Genie AI

    Jurisdiction

    England and Wales

    Use this template

    Equipment Lease Agreement (Optional Purchase)

    This is an agreement between two businesses for the hiring of equipment, drafted from the perspective of the lessor. It includes an optional clause that gives the lessee the right to purchase the equipment at the end of the term, making it a hire purchase agreement.

    What to watch out for

  • The agreement should be between two businesses, from the perspective of the lessor.
  • The agreement should contain an optional clause providing the lessee with a right to purchase the equipment at the end of the term.
  • If this clause is included, the agreement becomes a hire purchase agreement.
    • Contract template sketch
    1
    An outline stencil of a pencil to represent the number of uses this contract template has had.
    3
    Share icon, to represent the number of times this template has been shared by Genie AI users
    1
    Publisher

    Genie AI

    Jurisdiction

    England and Wales

    Use this template

    Associated business activities

    Hire or lease equipment

    1. When an individual or business needs equipment for a short-term project, it may be more cost-effective to hire or lease the equipment instead of purchasing it outright. 2. Hiring or leasing equipment can also be beneficial when an individual or business needs a piece of equipment that they will not use on a regular basis. 3. Finally, hiring or leasing equipment can provide flexibility for an individual or business as they can return the equipment at the end of the hire period or lease term if they no longer need it.

    Hire equipment

    1. Equipment hire agreements allow businesses to use equipment without having to purchase it outright. 2. This can be beneficial for businesses who do not have the upfront capital to purchase the equipment outright, or for businesses who only need to use the equipment on a short-term basis. 3. Equipment hire agreements can also help businesses manage their cash flow, as they can spread the cost of the equipment over the term of the agreement.

    Try the world's most advanced AI Legal Assistant, today

    get started now
    The Genie AI logo, a dual-shaded purple fountain-pen nib, with the words Genie AI written in Black underneath.
    © 2022 Genie AI, Inc. All rights reserved
    BlogDictionaryPartnerships
    AI PodcastContributorsPrivacy PolicyTerms of Use
    Contact usPressCareers
    Legal Q&A ServiceFixed-Price Contracts