Asset Lease Agreement Template for Philippines

1. Purchase Option: Include when the lessee has the option to purchase the asset during or at the end of the lease term

2. Improvements and Alterations: Include for leases where modifications to the asset may be necessary or permitted

3. Environmental Compliance: Include for assets that may have environmental implications or requirements

4. Force Majeure: Include to address unforeseen circumstances that may affect lease performance

5. Warranties: Include when specific warranties about the asset's condition or performance are provided

6. Intellectual Property: Include when the leased asset involves or incorporates intellectual property rights

7. Anti-Money Laundering Compliance: Include for high-value leases requiring compliance with AMLA regulations

1. Schedule 1 - Asset Details: Detailed technical specifications and photographs of the asset

2. Schedule 2 - Rent Payment Schedule: Detailed breakdown of rent payments, including dates and amounts

3. Schedule 3 - Maintenance Schedule: Required maintenance procedures and schedules

4. Schedule 4 - Condition Report: Detailed report of asset condition at commencement of lease

5. Schedule 5 - Insurance Requirements: Specific insurance requirements and minimum coverage amounts

6. Appendix A - Handover Protocol: Procedures for initial handover and final return of the asset

7. Appendix B - Permitted Users: List of authorized users or operators of the asset, if applicable