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The essential elements of an equipment lease agreement: a step-by-step guide, introduction.

Are you in the market for new equipment, but don’t want to break the bank by purchasing it outright? Leasing can be an excellent option! However, before jumping into a lease agreement , it’s essential to understand what you’re signing up for. An Equipment Lease Agreement is a legal contract that outlines all of the details between you and your lessor regarding leasing equipment. In this article, we will guide you through the essential elements of an Equipment Lease Agreement – step-by-step. By understanding these critical components of a lease agreement, you’ll be better equipped to make informed decisions when procuring equipment for your business needs.

The Parties to an Equipment Lease Agreement

When it comes to an equipment lease agreement , there are two primary parties involved: the lessor and the lessee. The lessor is generally the owner of the equipment that is being leased out, while the lessee is typically a business or individual who wants to make use of that equipment.

It’s important to clearly identify these parties in any lease agreement , including their legal names and addresses. This helps ensure that both sides understand who they’re doing business with and can hold each other accountable for their respective obligations under the contract.

In addition to identifying the main parties involved, it may also be necessary to include information about any guarantors or co-signers who will be responsible for fulfilling certain obligations if one party fails to do so. This adds an extra layer of protection for all parties involved.

When drafting a lease agreement you should consider whether any special provisions need to be included depending on your location and industry sector. For instance, some states have specific requirements around how lease agreements must be written up in order for them to be legally enforceable . Be sure to consult with a lawyer or experienced professional if you’re unsure about what needs to go into your particular leasing arrangement.

The Equipment to be Leased

One of the essential elements of an Equipment Lease Agreement is defining the equipment that will be leased. It’s important to be specific and detailed when describing the equipment to avoid any confusion or misunderstandings later on.

The lease agreement should clearly identify the make, model, serial number, and any other relevant details about each piece of equipment being leased. This ensures both parties understand exactly what is included in the lease and can refer back to it if needed.

It’s also important to define any limitations or restrictions on how the equipment can be used. For example, if leasing a vehicle, there may be mileage restrictions or requirements for regular maintenance and upkeep.

Additionally, consider including provisions for adding or removing equipment from the lease during its term. This allows for flexibility as business needs change over time.

Taking care in specifying and defining the equipment being leased in an Equipment Lease Agreement helps ensure a successful leasing arrangement between all parties involved.

The Term of the Agreement

The term of an equipment lease agreement refers to the duration for which the lessee is allowed to use the leased equipment. This is an essential element of any lease agreement, as it affects both parties involved.

When drafting a lease agreement, it’s important to clearly state the term and include specific start and end dates . It’s also important to consider whether or not there will be an option for renewal at the end of the initial term .

In some cases, a short-term lease may be more appropriate if only temporary usage of equipment is required. Conversely, in other cases where long-term leasing makes sense, such as when capital-intensive assets are concerned that have high depreciation costs over time.

It’s crucial for both parties to carefully consider what length of time would work best before entering into any binding agreements . This helps ensure that expectations are met and prevents confusion or disputes down the line.

Determining a clear and concise term for an equipment lease agreement should be given ample thought and attention from all parties involved.

The Lease Price and Payment Schedule

When it comes to leasing equipment, one of the most important elements is the lease price and payment schedule . This refers to how much the lessee (the party renting the equipment) will pay for use of the equipment, as well as when those payments are due.

The lease price can vary depending on a variety of factors such as the type of equipment being leased, its age and condition, and market demand . It’s important for both parties to agree upon a fair rate that takes into account these factors .

Additionally, determining a suitable payment schedule is crucial. Typically, payments are made monthly or quarterly over the course of the lease term . The length of time between payments should be clearly outlined in the agreement so that both parties know what to expect.

It’s also common for leases to include late fees if payments are not made on time . These fees should also be specified in writing within the agreement.

Establishing clear terms around lease pricing and payment schedules helps ensure that both parties understand their obligations throughout an equipment lease term.

Maintenance and Repair

Maintenance and repair are critical elements of an equipment lease agreement. As a lessee, it’s essential to understand who is responsible for maintaining the leased equipment during the term of the contract.

Typically, as a lessee, you’re responsible for ensuring that the equipment remains in good working condition throughout its use. This includes regular inspections and maintenance checks to ensure optimal performance. Failing to maintain or repair leased equipment can result in additional costs or even termination of the lease agreement .

It’s also important to understand what types of repairs are covered under your lease agreement . For example, some agreements may specify that minor repairs are covered by the lessor, while major repairs fall on the lessee. Ensuring that these terms are clearly defined in your agreement can help prevent any misunderstandings down the line .

Additionally, many agreements require that any necessary repairs be performed by authorized technicians or service providers approved by both parties. This helps ensure quality control and prevents any potential damage caused by unqualified personnel.

Understanding and adhering to maintenance and repair requirements outlined in your equipment lease agreement is crucial for avoiding unnecessary expenses and ensuring smooth operations throughout your business activities.

Insurance is a crucial element of an equipment lease agreement. The lessee must have adequate insurance coverage for the leased equipment to protect against any damage, theft or loss that may occur during the term of the agreement.

The lessor should specify in detail what type of insurance coverage is required and how much coverage is needed. Typically, this includes general liability and property damage insurance , as well as specific types of coverage related to the particular equipment being leased.

It’s important for both parties to review and agree on these insurance requirements before signing the lease agreement . Additionally, it’s recommended that both parties review their respective insurance policies with their agents to ensure they meet all necessary requirements.

If an accident or loss occurs during the lease period, it’s essential that each party knows their obligations under the terms of the agreement regarding reporting and handling claims. Therefore, including a clause in your Equipment Lease Agreement Word Document about how disputes are resolved would be beneficial for both sides

Default and Remedies

In any business arrangement, it’s necessary to address the possibility of default by one or both parties. When creating an equipment lease agreement, it’s important to outline the consequences for default and provide remedies in case such a situation arises.

The agreement should clearly define what constitutes a default. This could include not making payments on time, damaging or misusing the leased equipment, or failing to maintain insurance coverage.

Once a default has occurred, the remedies available under the agreement should be easily identifiable. These may include termination of the lease and repossession of the equipment by the lessor, payment of damages incurred as a result of default, or legal action to recover losses.

It’s crucial that both parties agree on remedies ahead of time in order to avoid disputes later on. The remedy section should also specify any notice requirements that must be met before taking action against a party in default.

By addressing potential defaults and outlining clear remedies within an equipment lease agreement, both parties can ensure they are protected if things don’t go according to plan.

Assignment and Subleasing

Assignment and subleasing are important provisions in an equipment lease agreement that allow the lessee to transfer their rights or obligations under the agreement. Assignment refers to the transfer of all rights and duties to a third party , while subleasing only transfers some of those obligations.

Before assigning or subletting, it’s important to review the lease agreement carefully as it may contain restrictions on these actions. The lessor typically has discretion over whether a proposed assignee or sublessee is suitable for taking on the leased equipment.

If approved, both parties should execute an assignment or sublease agreement outlining each party’s responsibilities moving forward. This document should include details about any changes in payment terms and maintenance obligations.

It’s essential that all parties understand their roles and legal liabilities when entering into either an assignment or sublease arrangement. Failure to comply with these provisions could lead to penalties such as termination of the lease agreement .

Including assignment and subleasing language within your equipment lease agreement provides flexibility for businesses who may need to transfer their leasing obligation during the term of the contract.

Miscellaneous Provisions

Miscellaneous provisions are an important part of any equipment lease agreement. These typically cover the legal and administrative details that need to be addressed in order to ensure a smooth and efficient leasing process . Some common miscellaneous provisions include:

– Governing law: This provision specifies which state or jurisdiction’s laws will govern the agreement. It is important for both parties to agree on this upfront, as it can affect how disputes are resolved.

– Entire agreement: This clause states that the written lease document represents the entire agreement between the parties, and supersedes any prior oral or written agreements.

– Notices: The notice provision sets out how notices should be delivered between the parties, including by mail, email, or fax.

– No waiver: This provision clarifies that failure by one party to enforce a particular term of the lease does not mean they have waived their right to do so in future.

While these miscellaneous clauses may seem like small details compared to other sections of an equipment lease agreement, they play a critical role in ensuring both parties understand their obligations under the contract .

An equipment lease agreement is a crucial document that outlines the terms and conditions of leasing equipment. By following this step-by-step guide, you can ensure that all essential elements are included in your agreement to protect both parties involved.

Remember to identify the parties involved, describe the leased equipment thoroughly, set clear payment schedules and maintenance requirements, specify insurance coverage, outline default remedies and assignment/subleasing possibilities. Include any miscellaneous provisions relevant to your agreement.

By carefully considering each element in this guide when creating your procurement equipment lease agreement word document or seeking professional assistance from legal experts who specialize in contracts and agreements can help prevent potential disputes down the line.

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equipment lease assignment

This equipment lease is between , an individual a(n) (the " Owner ") and , an individual a(n) (the " Renter ").

The Owner is the owner of the equipment described in Exhibit A (the " Equipment ").

The Renter wishes to lease the Equipment from the Owner.

The parties agree as follows:

1. LEASE OF EQUIPMENT.

Effective as of the effective date set forth in section 25 24 24 23 , the Owner shall lease and deliver to the Renter, and the Renter shall lease and accept delivery from the Owner, all of its interest in the Equipment. From time to time, the Renter may lease additional items of equipment from the Owner under this lease by attaching a new Exhibit A. This exhibit shall list such additional items of equipment, and shall be initialed or signed by both parties. That equipment will then be subject to the terms of this lease and considered "Equipment" for all purposes. 

2. DELIVERY OF EQUIPMENT; SITE.

  • (a) Delivery. The Owner shall coordinate with the Renter to have the Equipment delivered to , , (the " Site ") on or before .
  • (b) Site. The Renter shall provide a safe, convenient Site for the Equipment in accordance with the Owner's guidelines, specifications, and site planning criteria. The Owner has approved the location of the Site and the dedicated location for the Equipment on the Site.

3. RENT; SECURITY DEPOSIT.

  • (a) Timing.  The Renter shall pay to the Owner, in advance, $ each month (the " Rent ") to rent the Equipment, starting on . The Renter shall pay the Rent on the first day of each succeeding month after the effective date to the Owner at the address set forth in section 21 20 20 19 below. 
  • (b) Security Deposit.  Before taking possession of the Equipment, the Renter shall pay a security deposit to the Owner in the amount of $ , which shall be returned to the Renter at the end of the Term. The Owner may deduct any amounts from this deposit required to repair or replace the Equipment, ordinary wear and tear excepted.
  • (c) (b) Interest on Late Payments.  If the Renter fails to pay Rent when it is due, or any other charges or amounts payable by the Renter to the Owner under this lease, the Renter shall be charged interest on those unpaid sums at the rate of % per month. Interest will be calculated from the due date of the amount to the actual payment date.

4. OWNERSHIP.

Except for the Renter's rights of use under this Lease, the Equipment is and will remain the exclusive personal property of the Owner, even if installed in or attached to real property by the Renter. Payment of the Rent does not give the Renter any equity interest in the Equipment. The Renter has no interest in the Equipment except as expressly set forth in this Lease.

5. CARE, USE, AND MAINTENANCE OF EQUIPMENT.

  • (a)  The Renter shall keep the Equipment in good condition and manage all necessary repairs and replacements   at its own cost and expense .
  • (b) The Renter and its employees shall use the Equipment carefully and properly, and in compliance with all federal, state, and local laws. Each item of Equipment is being leased for use in the conduct of the Renter's business.
  • (c)  The Renter shall keep and use the Equipment only at the Renter's principal place of business in the ordinary course of its business . The Renter may not remove the Equipment from this location without the Owner's prior written consent.
  • (d)  The Renter shall maintain in full force a service agreement with the Owner to satisfy its obligation to repair and maintain the Equipment.
  •   (e) (d) The Renter may not make any alterations or additions to the Equipment without the Owner's prior written consent.
  •   (f)   (e) The Renter may not assign, sublease, or transfer the Equipment without the Owner's prior written consent.

6. EQUIPMENT WARRANTIES.

  • (a) THE OWNER HAS THE RIGHT TO LEASE THE EQUIPMENT, AS PROVIDED IN THIS LEASE, AND DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING TO THE DESIGN OR CONDITION OF THE EQUIPMENT, AND IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
  • (b) The Owner assigns to the Renter any assignable warranty, whether express or implied, affecting the Equipment. 
  • (c) The Renter shall pay Rent to the Owner even if the Equipment's supplier or manufacturer breaches any warranty.

7. OWNER'S PERFORMANCE OF RENTER'S OBLIGATIONS.

If the Renter fails to pay taxes on, maintain insurance on, or repair the Equipment, or to pay fees, charges, or assessments, or to discharge any other obligations under this Lease, the Owner may make payments or perform acts that the Owner deems necessary. This includes payment of amounts necessary to retain insurance, to repair or maintain the Equipment, or to satisfy fees, charges, or assessments. The Renter shall reimburse the Owner on the next due date for Rent for all amounts paid or incurred by the Owner. The Renter shall pay interest on amounts to the Owner under section 3(c), which shall begin accruing on the date of the Owner's payment, and pay any reasonable attorneys' fees incurred by the Owner in connection with its actions performed under this section.

8. INSURANCE.

  • (i)  risk insurance against loss of and damage to the Equipment for not less than the full replacement value of the Equipment, naming the Owner as loss payee; and
  • (ii)  combined public liability and property damage insurance, with limits approved by the Owner, naming the Owner as an additionally named insured and a loss payee.
  • (b) Contents.  This insurance shall provide primary coverage for the protection of the parties without regard to any other coverage carried by either party protecting against similar risks.
  • (c) Certificate. The Renter shall provide the Owner with an original policy or certificate evidencing the insurance and shall provide at least 30 days' advance written notice to the Owner about any cancellation, change, or modification of the insurance coverage.

9. TAXES AND FEES.

During the Term, the Owner shall pay all applicable taxes, assessments, and license and registration fees on the Equipment. The Owner shall, on request, provide the Owner with proof of those payments and copies of any tax returns and reports filed or prepared concerning the Equipment.

10. LIABILITY FOR LOSS AND DAMAGE.

  • (a) Liability for Damage.  If the Equipment is damaged, the Renter shall immediately repair the Equipment to a state of good working order the Renter shall immediately notify the Owner of the damage, and pay for any repairs the Owner coordinates to get the Equipment to a state of good working order .
  • (i)  replace the Equipment with like equipment in good working order; or
  • A. all amounts owed by the Renter to the Owner under this lease on the date of the loss, theft, damage, or destruction;
  • B.  100% of the actual cost of that Equipment, less any net proceeds of insurance received by the Owner for the loss or
  • damage; and
  • C.  the unpaid balance of the total Rent for the Term attributable to that Equipment.
  • (c) Assignment of Interest.  On receipt of this payment, the Owner shall assign to the Renter whatever interest the Owner has in the Equipment, without warranty, express or implied. For purposes of calculating amounts under subsection (b)(ii)(B), the actual cost of an item is its fair market value on the date of its loss, theft, damage, or destruction.

11. TERM; TERMINATION.

  • (i) the Effective Date; or
  • (ii)  the date the Renter receives the Equipment, as acknowledged in writing by the Renter to the Owner, a copy of which shall be attached to this agreement.
  • (i)  sign a new lease with the Owner;   or  
  • (ii)  surrender the Equipment to the Owner at the Renter's Owner's expense ; or .
  • (iii)  purchase the Equipment as provided in section 14 below.
  • (c) No Action.  If the Renter takes none of the actions listed in subsection (b) above, the Term will automatically be extended for a period of a month at a % Rent increase.

12. DEFAULT; RIGHTS ON DEFAULT.

  • (i)  the failure to make a required payment under this Lease as and when due, including Rent, interest charges, sums due as an indemnity, excess item expenses, or other charges;
  • (ii)  the breach or violation by the Renter of this Lease;
  • (iii)  the insolvency or bankruptcy of the Renter;
  • (iv)  any default, breach, or violation of or under any debenture, bond, or evidence of indebtedness of the Renter; or
  • (v) subjection of any of the Renter's property to levy, seizure, assignment, application, or sale for or by any creditor or government agency.
  • (b) Rights on Default.  On the occurrence of any Event of Default under subsection (a), the Owner may, without notice or demand, terminate this lease, and take possession of the Equipment, in addition to any other rights afforded to the Owner by law. The Renter is not released from paying damages sustained by the Owner if the Owner terminates under this section. If on any termination of this lease the Renter fails or refuses to deliver the Equipment to the Owner, the Owner may enter the Renter's premises and retake possession of the Equipment without legal process. The Renter releases any claim or right of action for trespass or damages caused by the Owner's entry and repossession. The Renter expressly waives all further rights to possession of the Equipment and all claims for injury suffered through or loss caused by the repossession. The Renter shall pay all expenses, including attorneys' fees, the Owner incurs to enforce this lease. All of the Owner's remedies are cumulative and may be exercised concurrently or separately. The Owner shall release the Equipment or otherwise mitigate the damages arising out of or otherwise related to the Event of Default.

13. OWNER'S RIGHT OF INSPECTION.

The Owner shall have the right, on prior written notice to the Renter, to inspect the Equipment during the Renter's normal business hours.

14. OPTION TO PURCHASE.

  • (a) If the Renter does not violate this lease, the Renter shall, at the end of the Term, have the option to purchase the Equipment at a price (the " Purchase Price ") equal to its fair market value as defined in subsection (b) below. The Renter shall exercise this option by notifying the Owner in writing at least Number days before the end of the Term.
  • (b)  The fair market value of the Equipment on the last day of the Term as determined by mutual agreement between the parties will be taken as the "fair market value" of such Equipment.
  • (c) The Renter shall pay the Purchase Price to the Owner within days after the end of the Term. 

15. INDEMNIFICATION.

  • (i)  the Renter's negligence or willful misconduct arising from the Renter's carrying out of its obligations under this agreement;
  • (ii)  the Renter's use or possession of the Equipment; or
  • (iii)  the Renter's breach of any of its obligations or representations under this agreement.
  • (b) Of Renter by Owner.  The Owner shall at all times indemnify the Renter against a Loss or Litigation Expense caused by any breach of any of the representations or agreements made by the Owner under this agreement.

16. GOVERNING LAW.

  • (a) Choice of Law.  The laws of the state of govern this agreement (without giving effect to its conflicts of law principles).
  • (b) Choice of Forum.  Both parties consent to the personal jurisdiction of the state and federal courts in ,  .

17. AMENDMENTS.

No amendment to this agreement will be effective unless it is in writing and signed by a party or its authorized representative.

18. ASSIGNMENT AND DELEGATION.

  • (a) No Assignment. Neither party may assign any of its rights under this agreement, except with the prior written consent of the other party. All voluntary assignments of rights are limited by this subsection.
  • (b) No Delegation. Neither party may delegate any performance under this agreement, except with the prior written consent of the other party.
  • (c) Enforceability of an Assignment or Delegation. If a purported assignment or purported delegation is made in violation of this section, it is void.

19. COUNTERPARTS; ELECTRONIC SIGNATURES.

  • (a) Counterparts.  The parties may execute this agreement in any number of counterparts, each of which is an original but all of which constitute one and the same instrument.
  • (b) Electronic Signatures.  This agreement, agreements ancillary to this agreement, and related documents entered into in connection with this agreement are signed when a party's signature is delivered by facsimile, email, or other electronic medium. These signatures must be treated in all respects as having the same force and effect as original signatures.

20. SEVERABILITY.

If any one or more of the provisions contained in this agreement is, for any reason, held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or unenforceability will not affect any other provisions of this agreement, but this agreement will be construed as if those invalid, illegal, or unenforceable provisions had never been contained in it, unless the deletion of those provisions would result in such a material change so as to cause completion of the transactions contemplated by this agreement to be unreasonable.

21. NOTICES.

  • (a) Writing; Permitted Delivery Methods. Each party giving or making any notice, request, demand, or other communication required or permitted by this agreement shall give that notice in writing and use one of the following types of delivery, each of which is a writing for purposes of this agreement: personal delivery, mail (registered or certified mail, postage prepaid, return-receipt requested), nationally recognized overnight courier (fees prepaid), facsimile, or email.
  • (b) Addresses. A party shall address notices under this section to a party at the following addresses:
  • If to the Owner:
  • If to the Renter:
  • (c) Effectiveness. A notice is effective only if the party giving notice complies with subsections (a) and (b) and if the recipient receives the notice.

22. WAIVER.

No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this agreement will be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. No waiver of any breach, failure, right, or remedy will be deemed a waiver of any other breach, failure, right, or remedy, whether or not similar, and no waiver will constitute a continuing waiver, unless the writing so specifies.

23. ENTIRE AGREEMENT.

This agreement constitutes the final agreement of the parties. It is the complete and exclusive expression of the parties' agreement about the subject matter of this agreement. All prior and contemporaneous communications, negotiations, and agreements between the parties relating to the subject matter of this agreement are expressly merged into and superseded by this agreement. The provisions of this agreement may not be explained, supplemented, or qualified by evidence of trade usage or a prior course of dealings. Neither party was induced to enter this agreement by, and neither party is relying on, any statement, representation, warranty, or agreement of the other party except those set forth expressly in this agreement. Except as set forth expressly in this agreement, there are no conditions precedent to this agreement's effectiveness.

24. HEADINGS.

The descriptive headings of the sections and subsections of this agreement are for convenience only, and do not affect this agreement's construction or interpretation.

25. EFFECTIVENESS.

This agreement will become effective when all parties have signed it. The date this agreement is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this agreement.

26. NECESSARY ACTS; FURTHER ASSURANCES.

Each party shall use all reasonable efforts to take, or cause to be taken, all actions necessary or desirable to consummate and make effective the transactions this agreement contemplates or to evidence or carry out the intent and purposes of this agreement, including signing any documents for purposes of recording or filing to protect the interest of the Owner in the Equipment.

[SIGNATURE PAGE FOLLOWS]

Each party is signing this agreement on the date stated opposite that party's signature.

[PAGE BREAK HERE] EXHIBIT A INVENTORY OF EQUIPMENT LEASED

Free Equipment Lease Agreement Template

Define equipment leasing terms and usage guidelines with an equipment lease agreement. ensure the owner and renter know of their roles and responsibilities..

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What's an equipment lease agreement?

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Equipment lease agreement template

Looking to rent out your equipment to other businesses? Use this free equipment lease agreement template to help you formalize the transaction.

equipment lease assignment

It's not always wise or cost-efficient for businesses to buy equipment outright. Fortunately, it's possible for them to lease the equipment instead.

Find out how this process works and how to finalize the terms of the arrangement in this guide to equipment lease agreements.

We've even got a free equipment lease agreement template for you to use as a starting point.

What is an Equipment Lease Agreement?

An equipment lease agreement is a legal contract between a lessor (the equipment owner or provider) and a lessee (the person or business using the equipment) that outlines the terms and conditions for leasing and using the specified equipment.

Under an equipment lease agreement, the lessee is granted access and use of a piece of equipment for a certain amount of time. This is offered in exchange for regular lease payments, or a one-off payment.

Also known as an equipment hire agreement, this legal document serves as the foundation for this relationship, outlining details such as how long the equipment will be rented, the cost of rent, and the responsibilities of each party.

What is the purpose of an Equipment Lease Agreement?

The main purpose of an Equipment Lease Agreement is to provide clarity and protection for both parties. It helps to ensure that the lessor and lessee both know their roles and responsibilities.

It's a roadmap of sorts, guiding the lease relationship and defining how potential issues will be resolved. It also specifies what happens at the end of the lease term - whether the equipment will be returned or purchased.

equipment lease assignment

Who is responsible for managing an Equipment Lease Agreement?

Usually, the Lessor, or their agent, is responsible for creating and managing the Equipment Lease Agreement.

However, the Lessee also plays an important role in this process. Both parties must understand and agree to the terms laid out in the agreement. To do this, they'll often need to negotiate the terms and establish ones that are mutually beneficial.

It's also important for the Lessee to seek legal advice to ensure they fully understand their obligations and rights under the agreement.

What should a simple lease agreement for equipment include?

An Equipment Lease Agreement generally includes:

  • Identification of Parties: The names and addresses of the Lessor and Lessee.
  • Equipment Description: A clear and comprehensive description of the leased equipment.
  • Lease Duration: The lease's start and end dates.
  • Payment Details: Information about lease payments such as the amount, due dates, and payment frequency.
  • Maintenance and Repair: Specifies who is responsible for the upkeep and repair of the equipment.
  • Default Provisions: Outlines the steps to be taken if either party fails to uphold their part of the agreement.

equipment lease assignment

How are Equipment Hire Agreements usually managed?

In a traditional contract workflow, Equipment Lease Agreements are drafted, reviewed by all parties involved, signed, and then filed for future reference.

But the process isn't always smooth sailing.

Managing Equipment Lease Agreements through a traditional, manual workflow often involves a series of tools and processes that can prove time-consuming, error-prone, and inefficient.

The manual process

1. drafting.

‍ This is the first step and often involves using word processors or text editors. The Lessor or their legal team must manually input all the terms and conditions, which can be a tedious process, especially if dealing with multiple leases simultaneously.

2. Reviewing

‍ Once the agreement is drafted, it's reviewed by multiple parties, including the Lessor, Lessee, and potentially legal advisors. This process is often conducted via email or printed documents, making tracking changes and consolidating feedback a complex and chaotic task.

‍ In a traditional workflow, collecting signatures might require printing the agreement, physically signing it, and then scanning the signed document. This is time-consuming and delays the finalization of the agreement.

4. Filing and storing

‍ Once signed, the agreement must be physically or digitally stored. Physical storage requires space and can make retrieval difficult. Digital storage, such as saving files on a computer or server, may lead to disorganized file naming and folders, making specific agreements hard to find when needed.

6. Reporting and tracking

‍ Regular checks are necessary to ensure both parties adhere to the agreement terms. In a manual system, this often requires setting reminders, conducting reviews, and potentially dealing with disputes or issues, which can be stressful and time-consuming.

7. Renewals

‍ As the equipment lease end date approaches, a new agreement or extension must be drafted, reviewed, signed, and stored, repeating the entire process.

All these steps require significant manual effort, making the process prone to human error and miscommunication. The administrative burden can lead to delays, inefficiencies, and increased costs.

How can an Equipment Lease Agreement template help?

An equipment lease agreement template can significantly streamline the process. Instead of drafting each agreement from scratch, leasing teams can use a pre-approved template and simply fill in the specific details.

This not only saves time but also facilitates consistent terms and conditions across lease agreements throughout the organization.

Can you automate Equipment Lease Agreements?

Automating an Equipment Lease Agreement can transform the way you manage your leases, making the process more efficient, reliable, and user-friendly.

This can be achieved by using a contract management platform like Juro. Here's how it works:

1. Template creation

‍ With automation, you can create standardized templates for your Equipment Lease Agreements. These templates can be customized to suit your unique needs, ensuring all essential elements are included.

2. Real-time collaboration and review

‍ The review process becomes a breeze with automation. Parties can collaborate in real-time, directly within the document. This feature minimizes back-and-forth, reduces the risk of miscommunication, and ensures everyone is on the same page.

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3. Electronic signatures

‍ No more printing, signing, scanning, and emailing. With eSignature capabilities,  parties can securely sign the agreement digitally, from anywhere in the world.

This accelerates the finalization process and makes it more convenient for everyone involved.

4. Centralized storage

Juro also provides a centralized place to store all your agreements, including equipment lease contracts. All contracts created in Juro are stored in the contract repository automatically, providing easy access and retrieval whenever needed.

5. Compliance tracking and alerts

‍ Juro's contract analytics functionality give you full visibility into your equipment lease contracts. You can also set reminders for key dates and obligations, ensuring you never miss an important deadline again.

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Automate equipment lease agreements in Juro

Juro’s AI contract collaboration platform enables your team to create, execute and manage contracts 10x faster than traditional tools. With Juro, you can:

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To join the 6000+ companies already using Juro to power their contracts and reduce routine admin work, hit the button below.

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Equipment Leasing: What It Is and How It Works

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Equipment leasing is a type of financing that lets you rent a piece of heavy equipment from an equipment financing company or another lender or vendor. The lease agreement allows you to use the equipment for a set period of time while making monthly payments. You are the lessee and the owner of the equipment, or the lender, is the lessor in a lease agreement.

Once the lease period ends, the equipment is returned to the owner. In some cases, you may have the option to buy the equipment. Leasing equipment instead of buying it can be a good choice if you need a piece of equipment for a short period of time only or don’t have the money to buy the equipment outright.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Pros and cons of equipment leasing

How equipment leasing works.

Various types of equipment can be leased, including construction equipment , farm equipment , medical and dental machines , office equipment, communication technology, restaurant equipment , software, tools and vehicles.

The specific terms and costs associated with a lease will depend on the equipment leasing company , the equipment, the length of your contract and more. But in general, here’s what you can expect.

Contract period: Can vary between six months to seven years.

Down payment: Low or no down payment.

Lease payments: Monthly, quarterly, semi-annual and annual. Payments may start low, then increase later in the lease term.

Collateral: The leased equipment is often the collateral and it can be repossessed if you fall behind on payments.

End of lease: Equipment is returned; may include the option to renew the lease or buy the equipment.

What is a master lease?

A master lease lets you lease additional pieces of equipment from your lessor without negotiating new contracts for each one. A master lease can be a prudent choice for businesses planning for near-term growth.

What is an operating lease?

An operating lease allows a business to use the equipment for a set period of time without the goal of eventually purchasing the equipment. Because the ownership of the equipment stays with the lessor, they are often responsible for keeping the equipment in working order.

What is a capital lease?

A capital lease also allows a business to use equipment for a set period of time, but this lease often contains an option for the business to purchase the equipment at the end of the term. The business may also be responsible for maintaining the equipment and may also need to get insurance for it, in some cases.

Equipment leasing vs. equipment financing

Equipment financing is a means of buying equipment using a specific type of business loan. The equipment serves as collateral for the loan, and if you default, the lender can seize it. Once your loan is paid off, you own the equipment outright.

In contrast, when you lease a piece of equipment, ownership remains with the lender, and you lose access to the equipment when the lease term ends. However, in some cases, you may have the option to extend the lease or buy the equipment.

In general, leasing is probably the better choice if:

You plan to use the piece of equipment for 36 months or less.

You don’t have cash on hand to make a down payment.

The equipment becomes obsolete quickly.

You want to keep monthly payments as low as possible.

On the other hand, financing the purchase of equipment might be the better choice if you plan to use it for more than three years and your business has the financial security to make a down payment.

» MORE : Best equipment financing companies and lenders

How to find equipment leasing

Small businesses have a number of options when considering equipment leasing. Many companies that offer equipment financing also offer equipment leasing programs.

Banks and financial institutions

If you work with a business lender already, you can start by asking if it offers equipment leasing. Banks often charge lower fees than other companies involved in equipment leasing and financing.

Equipment dealers and distributors

Equipment dealers and distributors may also be able to provide services for leasing equipment through subsidiary leasing companies. You can visit their website or contact them directly to learn about your options.

Independent leasing companies

You may also be able to work directly with an independent leasing company, which isn’t typically affiliated with equipment dealers and distributors. Getting quotes from a few companies can help you decide which one has the best terms for your business.

Equipment brokers

Equipment brokers have relationships with equipment manufacturers, retailers and lenders that finance purchases and leases. They can connect you with equipment owners, but they do charge a fee for their services.

Can you write off equipment lease expenses?

You can deduct equipment lease payments on your taxes as rent — as long as you actually have a lease, not a conditional sales contract.

The IRS doesn’t spell out specific definitions of “lease” or “conditional sales contract.” However, it says conditional sales contracts tend to contain provisions like:

After you’ve paid a certain amount, you’ll get the title to the equipment.

Your agreement says you have the option to buy the property for a nominal price, like $1.

The lessor counts some or all of your lease payments toward an equity interest in the equipment. [0] Internal Revenue Service . Income and Expenses . Accessed Jul 17, 2023. View all sources

If you have a lease agreement, then the owner of the equipment gets to claim tax deductions associated with depreciation. But if you have a conditional sales contract, you are considered the owner and can generally take depreciation deductions instead of a deduction for rent.

» MORE: 21 small-business tax deductions you need to know

On a similar note...

Lease Agreement

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What is a lease agreement.

A lease agreement is a legal document outlining the rental terms for either a commercial or residential property between the property owner, also known as the landlord or lessor, and the renter, also known as the tenant or lessee. These documents may also be called apartment leases or lease forms, though the lease agreements are not limited to apartments.

Creating a thorough and effective lease agreement is very important as it protects all parties involved throughout the length of the lease. While many landlords begin with boilerplate lease agreements, the language and terms are negotiable by all parties until signed, at which point the lease agreement becomes a legally binding document.

Types of Leases

People can lease all manner of property, including items like cars and boats. Most frequently, however, lease agreements are used for real estate, both residential and commercial. A few of the most common types of leases include:

  • Commercial lease : Commercial property like offices.
  • Condominium lease: A residential property that shares some building amenities with other tenants.
  • Family member lease: For family members leasing property.
  • Hunting lease: To use private property for hunting.
  • Lease-to-own lease: Provides the option to purchase the property from the landlord.
  • Month-to-month lease : A type of short-term lease agreement.
  • Parking space lease: To use for parking a vehicle on private property.
  • Room lease: Leasing a single room within a home.
  • Standard lease : Used for single-family homes, apartments, and other residential properties.
  • Sublet lease: A lease created by the renter for adding a renter to the lease.
  • Short-term lease: Used for short-term leases of unusual periods.
  • Weekly lease: Used often for vacation properties.

Elements of a Lease Agreement

Lease agreement terms can differ greatly depending on the type of lease and the specific needs of the renter and landlord. However, basic elements include:

  • Contact information: Include information for the landlord and all adults who will live at the property.
  • Property details: Describe the property with its address, square footage, amenities, and other important identifiers.
  • Lease specifics: Explain the type of lease, such as residential, and the terms, such as the end date.
  • Rent details: List the monthly rent amount and the date it's due each month.
  • Rights and obligations: Provide the rights for the landlord and tenants, such as entry or giving notices.
  • Dispute resolution : Outline the steps to resolve any disputes over the property or lease agreement.
  • Deposit and fees: List the amount of any security or other deposits or additional fees.
  • Occupancy limits: Provide specifics for how many people and who specifically can reside at the property.
  • Restrictions: List any restrictions, like installing additional appliances or making changes to permanent fixtures.
  • Pets: Describe whether or not pets are allowed and the specifics related to pets on the property.
  • Maintenance and repairs: List what maintenance and repairs are provided by the landlord.
  • Utilities: Explain who is responsible for paying which utilities.

Lease Agreement Templates

Addendum, disclosures, and notices.

Some leases require additional documentation in the form of addenda, disclosures, and notices. Usually, disclosures are included with the initial lease, while addenda and notices can be added to the lease later.

  • Addendum: An addendum is an addition to the lease. Common examples include adding pet terms to a lease or documenting a change in one of the renters.
  • Disclosures: Disclosures are often legally required to ensure renters understand all aspects of the property they're renting. An example might be the possible existence of old lead paint in a home built prior to a certain date.
  • Notices: Notices are official announcements. For example, a renter might give notice that they don't intend to renew their lease for another year.

Lease Agreement End Dates

Leases generally have two possible end dates — either fixed term or automatic renewal. Fixed-term end dates provide a specific time frame in which the lease is active. At the end of the lease, both parties must agree to renew and either include an addendum to the lease extending its length or write up a new lease . An automatic renewal continues indefinitely unless either the landlord or the renter provides notice dissolving the lease.

Lease agreement

Image via Unsplash by Sebastian Herrmann

Lease Agreement vs. Rental Agreement

Often, the terms "lease agreement" and "rental agreement" are used interchangeably. However, some people do use them to mean specific things, so it's essential that you clarify with the other parties involved in a lease agreement what the terms of the contract are.

Generally, lease agreements refer to long-term property contracts, usually over 30 days. Lease agreements also tend to have fixed-term end dates. Rental agreements , by contrast, refer to short-term property contracts, usually under 30 days. A new agreement is generally required to renew.

What Is a Rent-to-Own Lease Agreement?

Rent-to-own lease agreements, also called option-to-purchase or lease-to-own agreements, give the renter the option to buy the property at a predetermined price or the option to apply a portion of the rent towards the purchase price if the tenant decides to buy the property in the future. In most cases, the renter pays an option fee to the landlord for the right to purchase the property later. If the renter decides not to go through with the purchase, then the landlord keeps the option fee.

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Lease Agreement Laws

Every state in the country has its own laws and regulations regarding leasing and renting property. If you're a landlord, it's vital you understand the laws for your state to ensure your lease agreement properly accounts for all the legal necessities for you and your tenants. Most states have laws outlining:

  • General landlord and tenant rights.
  • Security deposits.
  • Landlord's access to the property once the tenant takes up residence.
  • Late rent payments.
  • Lease agreement violations.

How to Create a Lease Agreement

Landlords have a couple of options when writing a lease agreement. You can create your own by using a standard template and adjusting it to meet the needs of your tenants. However, if you're not well-versed in the landlord and tenant laws that govern your state, you may not adequately cover all the necessary terms in your lease. It's often better to consult a contract attorney who can help you draft a lease agreement that protects both you and your tenant while meeting all state legal obligations.

Important Terms

When writing or reviewing a lease, you'll probably come across some industry terms. These are the most common and important to understand:

  • Alterations: Changes to the property,  such as paint or fixtures.
  • Appliances: Items like ranges and refrigerators that are included with the property.
  • Cosigner: A third-party who helps the primary tenant pay the rent.
  • Furnishings: A list of all included furniture like tables, couches, and beds.
  • Guarantor : A third-party who will pay the rent if the primary tenant cannot.
  • Governing law : Reference to the state laws that govern the lease.
  • Guests: The number of people who can visit the property at one time.
  • House rules: Agreed-upon rules like quiet hours.
  • Insurance: Disclosure of any landlord-provided insurance protection for the tenants.
  • Late charges: The amount of money the tenant will have to pay in addition to their rent if payment is late.
  • Monthly rent: The amount of money due each month.
  • Parking: Explanation of whether parking is included, where, and for how many vehicles.
  • Receipt of agreement: All parties must have a copy of the signed lease for it to be valid.
  • Renewal option: An explanation of the terms and conditions related to renewing the lease.
  • Security deposit: The amount of the security deposit and the terms for the tenant to get it back at the end of the lease.
  • Subletting: An explanation of whether subletting is allowed and the specifics for adding a subletter.
  • Termination: Specifics for early termination of the lease and any monetary penalties associated.
  • Utilities: A description of which party is responsible for which utilities.

Lease agreements are legally binding agreements , so the language within the lease must be clear and comprehensive. Consider using the expertise of a contract lawyer to help you craft an effective lease agreement that protects everyone involved.

Need help with a Lease Agreement?

Meet some of our lease agreement lawyers.

Darryl S. on ContractsCounsel

I specialize in contract law and focus on making sure your contract is clear, protects your interests and meets your needs. You can expect fast, straightforward communication from me, making sure you understand every step. With my experience, you'll get a detailed review of your contract at a fair, fixed price, without any surprises. I have over 30 years of business and legal experience that I bring to your project. I graduated from The University of Texas School of Law with High Honors in 1993 and practiced at Texas' largest law firm. I have founded companies and so understand how to be helpful as both a lawyer and business owner.

Kristen R. on ContractsCounsel

Transactional and Employment Attorney and Small Business Owner. I do inside counsel work from the outside. I demystify the law for my clients.

Justin A. on ContractsCounsel

I am an entrepreneurial lawyer in the Seattle area dedicated to helping clients build and plan for the future. I earned my law degree from the University of Chicago and worked in a top global law firm. But I found advising real people on legal issues far more rewarding. Reach out to discuss how we can work together!

Richard P. on ContractsCounsel

Have over 40+ years of corporate and commercial law experience.

Julian H. on ContractsCounsel

I am a business attorney with years of experience advising individual entrepreneurs and small businesses on issues ranging from entity selection/formation to employment law compliance, to intellectual property protection and exploitation. I often act as General Counsel for my clients fulfilling the legal function as part of a team of managers. I look forward to learning more about your business and how I may be of assistance.

Christopher R. on ContractsCounsel

Christopher R.

Corporate and transactional attorney in sixth year of practice. Focus areas include general corporate counsel, labor and employment law, business partnership matters, securities matters related to privately-held companies, and regulatory compliance in securities and finance matters.

Forest H. on ContractsCounsel

Forest is a general practice lawyer. He provides legal advice regarding small business law, contracts, estates and trusts, administrative law, corporate governance and compliance. Forest practiced complex commercial litigation in Florida for eight years, representing clients such as Host Marriott, Kellogg School of Business, and Toyota. Since moving to Nashville in 2005, he has provided legal advice to clients forming new businesses, planning for the future, and seeking funding through the use of equity and/or debt in their businesses. This advice has included the selection of business type, assistance in drafting and editing their business plans and offering material, reviewing proposed term sheets, and conducting due diligence. Forest is a member of the Florida, Tennessee, and Texas Bars; in addition. Forest has held a Series 7, General Securities Representative Exam, Series 24, General Securities Principal, and Series 63, Uniform Securities Agent State Law.

Find the best lawyer for your project

Can the landlord terminate the lease early.

I am currently renting a property and I am concerned about the possibility of the landlord terminating the lease early. I am wondering what circumstances would allow the landlord to terminate the lease before the end of the agreed-upon term, and what my rights and options would be if this were to happen. I would like to seek the advice of a lawyer to help me understand the legal implications and potential outcomes of this situation.

equipment lease assignment

It will depend on what your lease states. You will need someone to review your lease and then advise you based on what the contract allows. It is not typical that a landlord to end the lease early unless there is a break on the tenants portion but this would all depend on the signed lease. If you need assistance with that, you can engage my services to assist you Donya

Charged for not giving a 60-day notice

My rental agreement says nothing about and automatic renewal clause not 60 day notice. I signed a deposit slip after I put down money on the places that says 60 day notice must be given before moving out even at end of lease. Is this legally binding since it is not in the lease? It seems like they are trying to through a lease clause on a deposit slip.

equipment lease assignment

The terms of the lease control. Please read this guide to tenants rights. https://ag.ny.gov/sites/default/files/tenants_rights.pdf

I was working in Califonia and my spouse working in Edgewood, KY. We were living in Fort Thomas. Now my job is changed to lexington KY.

Should Lessee's present employer transfer Lessee's place of employment outside the immediate area (fifty mile radius) Lesse may terminate this Lease upon thiry (30) days written notics and payment of an additional sum equal to one (1) month;s rent. Lessee must present written notics from his employer to lessor. If lessee is inducted, recalled, trasnferred or discharged from military service, Lessee may terminate this lease uopn thirty (30) days written notics and payment of additional sum equal to one (1) month;s rent. Lesse must present o Lessor a copy of his/her military orders.

equipment lease assignment

It is unclear what your exact question is. Unless illegal or unconconscionable, anything can be agreed to in a contract. Enforcing the agreement may require litigation. If you are asking if the clause is a valid one, it could be. If you are asking what to do if the landlord did not honor it, you may need to sue. If you are asking if this is standard and was not in the contract, the answer is no. You cannot assume it is. Hope this helps some. Contact me if you would like a consultation specifically on this issue.

Can I change my lease agreement with the dealer after purchase since they seemed to cheat

I just lease a new car. I went to the dealer 2 weeks ago, met with a lease specialist and signed a sketch lease agreement and paid $300 for deposit. The important thing is that we agreed on 0 down payment and $253 monthly payment. So on the lease agreement, the item "down payment" was written as "taxes + fees", but not specified how much will be charged. After 2 weeks, the car arrived and I went to pick it up. The original lease specialist was not there and another person took care of my lease. I trusted them and paid as they said, though more than I expected. However after I carefully read the new lease agreement later, I found that the down payment was not set to be 0, while the monthly payment remained the same. Besides taxes & fees totaling to $910, they set up "capitalized cost reduction" $2819, minus some rebates $1175, and charged me $910 + $2819 - $1175 = $2554. Later I called the dealer for an explanation but they said yes this is just 0 down payment, the amount I paid was due to blablabla. I don't believe them now - that $2819 "capitalized cost reduction" is used to calculate the residual value of the car at the end of lease. Doesn't that just mean down payment? I wonder if I can argue with the dealer and get my money back, add it to the residual value of the car. I have both copies of the lease agreement. Maybe I need the help of an attorney.

It seems that you paid the capitalized cost reduction to reduce you monthly payments.

Can the tenant use the property for storage?

As a business owner, I am looking to rent a commercial property to use for storage purposes. However, I am unsure if the property's lease agreement allows for such use or if there are any restrictions in place. Therefore, I am seeking legal advice on whether I can use the property for storage and if there are any legal implications I should be aware of.

In order to advise you on the lease, you would have to have the lease reviewed so that the purposes for the lease can be established and discussed with you. I can help to review your lease and advise you on you can and cannot do based on the lease. You can connect with me via the website to engage my services Donya Gordon

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Location: arizona, turnaround: less than a week, service: drafting, doc type: lease agreement, number of bids: 3, bid range: $370 - $1,000, lease agreement review, location: michigan, service: contract review, page count: 19, number of bids: 6, bid range: $500 - $745, related contracts.

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FEIG ELECTRONIC: Moscow-City Skyscrapers Streamline Parking Access and Control with Secure RFID

Feig electronic partners with isbc group to deploy ucode dna rfid security and parking access control solution in moscow business district.

Weilburg, Germany  — December 3,  2019  —  FEIG ELECTRONIC , a leading global supplier of radio frequency identification (RFID) readers and antennas with fifty years of industry experience, announces deployment of the UCODE DNA RFID security and parking contactless identification solution in the Moscow International Business Center, known as Moscow-City, one of the world’s largest business district projects.

The management of Moscow-City not only selected long-range, passive UHF RFID to implement in its controlled parking areas, it also chose to implement UCODE DNA , the highest form of secure RAIN RFID technology, developed by NXP Semiconductors.

equipment lease assignment

Panoramic view of Moscow city and Moskva River at sunset. New modern futuristic skyscrapers of Moscow-City – International Business Center, toned

“Underscoring NXP’s innovation and leadership in developing advanced RAIN RFID technologies, our UCODE DNA was chosen to be incorporated with the FEIG and ISBC implementation of the contactless identification system in the prestigious Moscow-City,” said Mahdi Mekic, marketing director for RAIN RFID with NXP Semiconductors. “This exciting project represents yet another successful deployment of NXP’s contactless portfolio, and showcases our continued ability to meet the high-security requirements of highly demanding applications without compromising user convenience.”

“UCODE DNA is considered the only identification technology to match the physical protection of a barrier with the cybersecurity necessary to truly protect entrances from unauthorized access,” said Manuel Haertlé, senior product manager for FEIG Electronic. “As a respected contactless payment technology company, FEIG applies security know-how from its payment terminals, which are fully certified according to the latest high-class security standards, into our RFID systems. FEIG vehicle access control RFID readers incorporate advanced secure key storage elements, supporting various methods for secure key injection.”

FEIG’s partner ISBC Group provided the knowledge and support for this successful implementation using  FEIG’s long-range UHF RFID . The resulting system enables authorized vehicle entry into areas reserved for private residential use or corporate tenants, while also allowing availability of temporary, fee-based visitor parking. Thanks to the cryptographic authentication of UCODE DNA, both the tag and reader must go through an authentication procedure before the reader will validate the data from the tag, which is transmitted wirelessly. This level of authentication is typically used in the most secure data communication networks.

“The system’s two-step authentication means that only authorized equipment can handle the secure protocol and the data exchange with the UCODE DNA based tag. Without the required cryptographic secrets, other readers would query the tag in vain, because the tag’s response cannot be interpreted or understood,” said Andrey Krasovskiy, director of the RFID department at ISBC Group. “On top of this, each data exchange in the authentication process is unique, so even if a malicious actor were to intercept the communication, the transmission is only good for a single exchange and the tag’s unique identity is protected from cloning.”

Established in 1992 and still growing, Moscow-City is the revitalization and transformation of an industrial riverfront into a new, modern, vibrant and upscale business and residential district. A mix of residential, hotel, office, retail and entertainment facilities, it is located about four kilometers west of Red Square along the Moscow River. Twelve of the twenty-three planned facilities have already been completed, with seven currently under construction. Six skyscrapers in Moscow-City reach a height of at least 300 meters, including Europe’s tallest building, Federation Tower, which rises more than 100 stories.

Partnering with ISBC and deploying FEIG Electronic RFID solutions, the Moscow International Business Center is delivering security and access control to its city center today, as it grows into the city of tomorrow.

About FEIG ELECTRONIC

FEIG ELECTRONIC GmbH, a leading global supplier of RFID readers and antennas is one of the few suppliers worldwide offering RFID readers and antennas for all standard operating frequencies: LF (125 kHz), HF (13.56 MHz), UHF (860-960 MHz). A trusted pioneer in RFID with more than 50 years of industry experience, FEIG ELECTRONIC delivers unrivaled data collection, authentication, and identification solutions, as well as secure contactless payment systems. Readers from FEIG ELECTRONIC, which are available for plug-in, desktop, and handheld applications, support next-generation contactless credit cards, debit cards, smart cards, NFC and access control credentials to enable fast, accurate, reliable and secure transactions. For more information, visit:  www.feig.de/en

Founded in Moscow in 2002, ISBC Group provides knowledge and support to integrators for their successful implementation of RFID and smart card-based solutions. The company specializes in the distribution of smart card equipment, contact and contactless card manufacturing, smart card and RFID personalization services, and information security.  Its Research and Design Center is focused specifically on RFID, primarily HF and UHF solutions with NXP tags, and software development for the smart card industry. For more information visit:  https://isbc-cards.com/

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  1. Equipment lease agreement—How-to guide

    Overview To compete effectively in today's business world, your operation needs the latest technology. Buying equipment can use up available funds and may saddle your company with outdated property. Equipment leasing may be an excellent way to update your business without significant upfront costs.

  2. The Essential Elements of an Equipment Lease Agreement: A Step ...

    An Equipment Lease Agreement is a legal contract that outlines all of the details between you and your lessor regarding leasing equipment. In this article, we will guide you through the essential elements of an Equipment Lease Agreement - step-by-step.

  3. Taking Assignments of Equipment Leases: An Analysis of an Acceptable

    Of course, equipment leases are assigned in a variety of ways including outright assignments and collateral assignments ("discounting" transactions). The underlying leases being assigned are sometimes true leases and other times disguised loans ("leases intended as security").

  4. Equipment Lease Agreement

    An equipment lease agreement is a contractual agreement where the lessor, who is the owner of the equipment, allows the lessee to use the equipment for a specified period in exchange for periodic payments. The subject of the lease may be vehicles, factory machines, or any other equipment.

  5. Free Equipment Lease Agreement Template

    1. LEASE OF EQUIPMENT. Effective as of the effective date set forth in section , the Owner shall lease and deliver to the Renter, and the Renter shall lease and accept delivery from the Owner, all of its interest in the Equipment.

  6. Equipment Lease: What You Need to Know

    Equipment leasing is a prevalent economic arrangement that allows companies to acquire essential equipment without settling the upfront costs associated with purchasing.

  7. Assignment of Lease: Definition & How They Work (2023)

    The assignment of lease is a title document that transfers all rights possessed by a lessee or tenant to a property to another party. The assignee takes the assignor's place in the landlord-tenant relationship. You can view an example of a lease assignment here .

  8. Assignment of Equipment Lease Definition

    Related to Assignment of Equipment Lease. Equipment Lease means a Contract for the lease of Equipment or for the purchase of Equipment under a conditional sales or title retention agreement.. Assignment of Lease means the Assignment of Lease to be executed by the Seller at the Closing with respect to each parcel of Leased Real Property listed on Section 3.16(b) of the Disclosure Schedule, in a ...

  9. Lease Assignment Form

    The Assignor: this is the tenant (s) listed on the property's current lease (the master lease) who, using the Lease Assignment Form, is transferring their rights and obligations from themselves to another tenant. The Assignee: this is the tenant who is taking over the original tenant's (the assignor's) rights and obligations.

  10. PDF Structuring Equipment Leases: Tips for Achieving Your ...

    from the same period in 2011. Even in this uncertain economy, American business demand for capital equipment appears to be getting stronger. UCC "Lease" and "Finance Lease". "$1 Out" and other Bargain Option Leases "Synthetic" Leases Full Amortization Leases "colloquial" finance leases. Typically, but not always, true leases ...

  11. Assignment and Assumption of Equipment Lease

    This ASSIGNMENT AND ASSUMPTION OF EQUIPMENT LEASE (this Agreement ) is entered into as of October 31, 2003 (the Effective Date ) by and among Veri-Tek International Corp., a Michigan corporation ( Assignor ), Quantum-Veritek, Inc., a Michigan corporation ( Assignee ), and Pontiac Trail, LLC, a Michigan limited liability company ( Lessor ).

  12. Assignment of Equipment Leases Sample Clauses

    Seller shall assign to Buyer all of its right, title and interest in and to the equipment leases ("Equipment Leases") for certain equipment leased by Seller as described on Appendix C of this Agreement, and Buyer shall assume the obligations of Seller under such equipment leases. Sample 1 Related to Assignment of Equipment Leases

  13. Assignment (law)

    Assignment is a legal term used in the context of ... "You have no right to sell, transfer, assign, sublease, or encumber the equipment or this agreement" protects the Lessor's collateral and credit underwriting guidelines in the event the lessee ever wants to transfer the lease to another party. However, it is possible to assign the lease ...

  14. Equipment lease agreement template

    An Equipment Lease Agreement generally includes: Identification of Parties: The names and addresses of the Lessor and Lessee. Equipment Description: A clear and comprehensive description of the leased equipment. Lease Duration: The lease's start and end dates. Payment Details: Information about lease payments such as the amount, due dates, and ...

  15. PDF Equipment Lease Agreement

    ASSIGNMENT: Neither this Agreement nor Lessee's rights hereunder are assignable except with Lessor's prior, written consent. BINDING EFFECT: The covenants and conditions contained in the Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

  16. Equipment Leasing: What It Is and How It Works

    The lease agreement allows you to use the equipment for a set period of time while making monthly payments. You are the lessee and the owner of the equipment, or the lender, is the lessor in a ...

  17. Lease Agreement: 12 Elements You Need To Know About

    Family member lease: For family members leasing property. Hunting lease: To use private property for hunting. Lease-to-own lease: Provides the option to purchase the property from the landlord. Month-to-month lease: A type of short-term lease agreement. Parking space lease: To use for parking a vehicle on private property.

  18. Home Page

    A Leader in Middle Market Leasing Connell Equipment Leasing Company, a division of Connell Finance Company, Inc., is one of the nation's largest independent lessors of material handling equipment, with over 12,000 pieces of equipment on lease or in inventory.

  19. PDF Equipment Lease Agreement Template

    Lessor hereby leases to Lessee the following equipment (the "Equipment"): 2. LEASE TERM. The lease will start o n (mm/dd/yyyy) and will end o n (mm/dd/yyyy) (end date) , the "Lease Term". 3. LEASE PAYMENTS. Lessee agrees to pay to Lessor as rent for the Equipment the amount of $ ("Rent") each month in advance on the first day of each ...

  20. PDF Sample Equipment Lease Agreement

    EQUIPMENT. Lessor hereby leases to Lessee the following equipment: 1. Case 650L Crawler Dozer (8' Blade, Hydrostatic Drive, 15.5" Single Grouser Track Shoes). 2. Makita 20" Gas Chainsaw (64cc) (the "Equipment"). LEASE TERM. The lease will start on Nov. 4th, 2030 (begin date) and will end on January 4th 2031 (end date), the "Lease ...

  21. Technopolis Moscow

    Technopolis Moscow is a specialized territory for innovative production development in Moscow, created under the control of SUE Stroyexprom. [1] Development of Technopolis is supervised by the Department of Science, Industrial Policy and Entrepreneurship of Moscow Government. The project is implemented under personal control of the Mayor of ...

  22. FEIG ELECTRONIC: Moscow-City Skyscrapers Streamline Parking Access and

    Founded in Moscow in 2002, ISBC Group provides knowledge and support to integrators for their successful implementation of RFID and smart card-based solutions. The company specializes in the distribution of smart card equipment, contact and contactless card manufacturing, smart card and RFID personalization services, and information security.

  23. Public Accounts Committee Sitting. || 20th February 2024

    Public Accounts Committee Sitting. || 20th February 2024

  24. DOCX Equipment Lease Agreement Template

    EQUIPMENT LEASE AGREEMENT This Equipment Lease Agreement (the "Agreement") is made and entered on [MM/DD/YYYY], by and between [LESSOR NAME] ("Lessor") and[LESSEE NAME] ("Lessee"), collectively referred to as the "Parties". The Parties agree as follows: EQUIPMENT Lessor hereby leases to Lessee the following equipment: