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Equipment Rental Agreement
Define rental terms, responsibilities, and payments with this Equipment Rental Agreement Template.
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Equipment Rental Agreement Template
This Equipment Rental Agreement (“Agreement”) is entered into on [Date], by and between:
Owner (Lessor): [Full Legal Name / Company Name]
Address: [Address]
Contact: [Phone, Email]
Renter (Lessee): [Full Legal Name / Company Name]
Address: [Address]
Contact: [Phone, Email]
Together referred to as the “Parties.”
1. Equipment Details
The Owner agrees to rent the following equipment to the Renter:
[Description of equipment including make, model, serial number, condition].
2. Rental Term
The rental period shall begin on [Start Date] and end on [End Date], unless earlier terminated in accordance with this Agreement. Extensions require written approval.
3. Rental Fees and Deposit
Rental Fee: $[Amount] per [day/week/month].
Security Deposit: $[Amount] due at signing, refundable upon return of equipment in good condition.
Payment: Due [in advance/upon invoice] and payable by [Payment Method].
4. Use of Equipment
The Renter shall use the equipment solely for lawful business or personal purposes.
Equipment may not be subleased or relocated without written consent of the Owner.
Renter must ensure operators are properly trained and licensed if required.
5. Maintenance and Repairs
The Owner shall provide the equipment in good working order.
The Renter is responsible for routine maintenance (e.g., fuel, cleaning) during the rental period.
Any damage beyond normal wear and tear shall be repaired at the Renter’s expense.
6. Insurance and Liability
The Renter shall maintain adequate insurance coverage for the equipment during the rental term.
The Renter assumes all liability for injury, loss, or damage arising from use of the equipment.
Ownership of the equipment remains with the Owner at all times.
7. Return of Equipment
The Renter agrees to return the equipment on the end date in the same condition as received, ordinary wear and tear excepted. Late returns may incur additional charges of $[Amount] per day.
8. Indemnification
The Renter agrees to indemnify and hold harmless the Owner from any claims, damages, or expenses arising from use of the equipment, except where caused by the Owner’s negligence.
9. Termination
Either Party may terminate this Agreement upon [X days] written notice. The Owner may terminate immediately if the Renter breaches terms or misuses the equipment.
10. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [State/Country].
11. Entire Agreement
This document constitutes the entire understanding between the Parties regarding the rental and supersedes all prior discussions or agreements.
Signatures
Owner (Lessor): ___________________________ Date: _________
Name/Title: [Full Name, Title]
Renter (Lessee): ___________________________ Date: _________
Name/Title: [Full Name, Title]
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Equipment Rental Agreement
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EQUIPMENT RENTAL AGREEMENT FAQ
What is an Equipment Rental Agreement?
An Equipment Rental Agreement is a contract between the equipment owner (lessor) and the renter (lessee) that outlines the rental terms, including duration, cost, responsibilities, and liability for damages.
Why is an Equipment Rental Agreement important?
It provides legal protection for both parties by clarifying expectations, payment terms, maintenance responsibilities, and what happens in case of loss or damage. Without a written agreement, disputes are more likely to arise.
When should you use an Equipment Rental Agreement?
Use it whenever you rent out equipment—whether construction machinery, office technology, vehicles, or specialized tools—regardless of rental length or value.
What should an Equipment Rental Agreement include?
It should specify the equipment details, rental period, fees, deposits, permitted uses, maintenance obligations, liability for damages, insurance requirements, and termination rights.
Does the renter own the equipment after the rental?
No. Ownership always remains with the lessor. The renter only has the right to use the equipment for the agreed period under the stated conditions.
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