Companies lease equipment all the time. Even if they have the capital to buy equipment, leasing may benefit from better cash flow, higher tax deductions, and improved credit score (at the end of the lease).
However, it may make the most sense to rent the equipment for all temporary needs through the use of an Equipment Rental Agreement.
An Equipment Rental Agreement is a contract between a lessor and a lessee containing all of the rental terms. For example, a company may rent construction tools or vehicles for the duration of a project.
More than that, the Equipment Rental Agreement is also used for smaller items such as event planning equipment, appliances, furniture, and video equipment on a per-project basis. It is also not uncommon for individuals to enter into this type of agreement with a company or another individual.
Depending on your state, an Equipment Rental Agreement may also be known as:
An Equipment Rental Agreement can protect both the lessor and the lessee. The lessor may be entitled to regular payments and insurance coverage, and the lessee can negotiate payment frequency and rental period.
Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Equipment Rental Agreement.
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An Equipment Rental Agreement requires all the necessary clauses and terms to satisfy both parties of the contract. Businesses leasing equipment can significantly take advantage of a proven template.
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It's imperative to review the agreement before signing carefully. Notarization is not required.
After you have generated your Equipment Rental Agreement on 360 Legal Forms, download your document and print out a copy. The Equipment Rental Agreement becomes valid upon signing.
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