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Equipment Purchase Agreement

Clearly define terms for buying and selling equipment with this Equipment Purchase Agreement Template.

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Equipment Purchase Agreement

Equipment Purchase Agreement Template


This Equipment Purchase Agreement (“Agreement”) is entered into on [Date], by and between:

Seller: [Full Legal Name / Company Name]
Address: [Address]
Contact: [Phone, Email]

Buyer: [Full Legal Name / Company Name]
Address: [Address]
Contact: [Phone, Email]

Together referred to as the “Parties.”


1. Equipment Description

The Seller agrees to sell and the Buyer agrees to purchase the following equipment:
[List detailed description, including make, model, serial number, condition, and quantity].


2. Purchase Price and Payment Terms

  • Total Purchase Price: $[Amount].

  • Payment Schedule: [Deposit of $X due on signing, balance due on delivery].

  • Payment Method: [Wire transfer / Check / Other].

  • Late Payment: [X]% interest per month on overdue amounts.


3. Delivery and Transfer of Title

  • Delivery Date: [Date].

  • Delivery Location: [Location].

  • Risk of loss passes to Buyer upon [delivery / installation].

  • Title transfers upon receipt of full payment.


4. Inspection and Acceptance

  • Buyer shall have [X] days to inspect the equipment after delivery.

  • If the equipment fails to meet specifications, Buyer may reject it by providing written notice within the inspection period.


5. Warranties

  • Seller warrants that it has good and marketable title to the equipment, free of liens and encumbrances.

  • Additional warranties: [e.g., equipment free from defects for X months].

  • Disclaimer: Except as stated, the equipment is sold “as-is.”


6. Representations of the Buyer

The Buyer represents that it has reviewed the equipment specifications and is financially capable of completing the purchase.


7. Taxes and Fees

Buyer shall be responsible for all applicable taxes, duties, and registration fees related to the purchase.


8. Indemnification

Each Party agrees to indemnify and hold harmless the other from any claims, damages, or liabilities arising from their respective breaches of this Agreement.


9. Default and Remedies

If either Party fails to perform its obligations, the non-defaulting Party may seek remedies including termination, damages, or specific performance.


10. Governing Law

This Agreement shall be governed by the laws of [State/Country].


11. Entire Agreement

This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements.


12. Signatures

Seller: ____________________________ Date: _________
Name/Title: _________________________________________

Buyer: ____________________________ Date: _________
Name/Title: _________________________________________

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Equipment Purchase Agreement

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EQUIPMENT PURCHASE AGREEMENT FAQ


What is an Equipment Purchase Agreement?

An Equipment Purchase Agreement is a legally binding contract between a buyer and a seller outlining the terms of purchasing equipment, including specifications, purchase price, delivery, and warranties.


Why is an Equipment Purchase Agreement important?

It ensures clarity in the transaction, protects both parties from misunderstandings, and establishes enforceable rights and obligations. It also helps with financing, tax compliance, and risk management.


When should you use an Equipment Purchase Agreement?

Use it whenever equipment—such as machinery, vehicles, office technology, or industrial tools—is being sold and ownership is being transferred, whether in a one-time sale or part of a larger transaction.


What should an Equipment Purchase Agreement include?

It should specify the equipment being sold, purchase price, payment terms, delivery details, warranties, liability allocation, and governing law. Optional clauses may cover inspections, financing contingencies, and installation.


Is an Equipment Purchase Agreement the same as an Equipment Lease Agreement?

No. A purchase agreement transfers ownership of equipment to the buyer, while a lease agreement grants temporary use of equipment without transfer of ownership.


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