Equipment Rental Agreement Template: Benefits & How To Fill Out
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An equipment rental agreement is between a property owner and renter for the rental of equipment. It includes clauses related to payment rates and late charges, maintenance and damage, and termination of the contract, as well as others. This serves to prevent misunderstandings, while ensuring everyone is aware of their responsibilities.
Instead of writing up this contract, you can purchase an equipment rental agreement from ContractsCounsel, an online legal network connecting clients with vetted lawyers. Not only can you conveniently purchase this agreement from the platform, but you can hire the lawyer who drafted it for assistance.
Read the rest of this article to learn why you should purchase an equipment rental agreement from ContractsCounsel and what this template contains.
Reasons to Purchase an Equipment Rental Agreement Template from ContractsCounsel
Buying a contract template from ContractsCounsel’s platform is easy and quick. Here are the benefits.
- It’s downloadable. As soon as payment is completed, you will receive a link to download the agreement to your device.
- It’s drafted by vetted lawyers. The platform’s vetted lawyers have drafted the contract templates so they’re legal, comprehensive, and accurate.
- It can include a consultation. If you have any queries about the contract, or you want a lawyer to review it, you can connect with the lawyer who drafted the template.
- It’s affordable. An equipment rental agreement template costs just $19.95.
What’s in an Equipment Rental Agreement?
Some of the most essential clauses in an equipment rental agreement template include the following:
Equipment
The template specifies what equipment will be used during this agreement, so there is no confusion between parties about what’s included.
Lease
By stating when the lease begins and outlining the payment amounts, this provides clarity to both parties. This section also includes how payment will be made. For example, if payment will occur via bank deposit, the person’s banking details will be provided.
Late charges
Should there be late payment, this section outlines the fees that need to be paid.
Security deposit
The lessee needs to make a security deposit (the amount will be chosen by you and the other party) before using the equipment. If the lessee violates this contract, they will forfeit their deposit.
Delivery
Parties must agree on whether the lessee will or won’t be responsible for equipment shipping costs.
Termination
Either party can end the contract, as long as they give a specific amount of days’ written notice. The lessor can end the agreement if the lessee fails to make rental payments on time or violates the contract.
Usage
The lessee needs to use the equipment in a careful way, while complying with all rules and laws. Should maintenance be required, the lessee has to pay for this, accepting all risk of loss or damage.
Insurance
It’s the lessee’s responsibility to upkeep insurance on the equipment.
Governing Law
Parties need to choose what state’s laws govern the agreement.
Dispute Resolution
If parties disagree on a matter, they will try to resolve it through negotiations. If this isn’t successful, arbitration will be the next step.
How to Fill Out the Equipment Rental Agreement Template
The contract has spaces where you can fill out important information to customize the agreement. Here’s how to fill it out.
- Step 1: At the start of the contract, fill out the agreement date and names of the parties.
- Step 2: Fill out what equipment will be used during the terms of this contract.
- Step 3: Write the dates when the lease agreement begins and ends.
- Step 4: Write down lease payment information amounts. There’s also space for you to fill out your banking details. If the payment is to be made via check, fill out the address of the person receiving the payment.
- Step 5: Fill out the number of days after which late payment fees need to be paid. There’s a space in which to write the fee amount.
- Step 6: In the “Insufficient Funds” section, write down the amount the lessee will be charged for each check that gets returned due to a lack of funds.
- Step 7: Fill out the amount of a security deposit that will be made before possessing the equipment.
- Step 8: Tick a box to choose if the lessee will or won’t be responsible for shipping equipment costs.
- Step 9: Fill in the number of days for written notice should one party wish to terminate.
- Step 10: Select a state whose laws will govern the agreement.
- Step 11: Choose a state where arbitration will take place should a dispute arise.
- Step 12: Write yours and the other party’s address where notices can be mailed.
- Step 13: Add any additional terms and conditions that you and the party want to include.
- Step 14: At the end of the agreement, both parties should sign and print their names.
Ready to Purchase a Contract Template from ContractsCounsel?
You can complete the purchase within three easy steps:
- On the Equipment Rental Agreement Template page, click “Buy template.”
- You’ll be directed to a page to complete payment.
- You’ll receive a link to download the contract.
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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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Meet some of our Equipment Rental Agreement Template Lawyers
Steven W.
Attorney Steven Wax is ardent about helping his clients. Whether creating personalized estate plans, drafting and negotiating contracts or other legal matters. Steven’s goal is to assist and counsel his clients to protect them and their loved ones. Steven grew up on Long Island, New York. He attended the University of Massachusetts in Amherst earning a BS in Sport Management. He earned his paralegal certificate at Duke University and earned his Juris Doctorate from North Carolina Central University School of Law in Durham, NC. Steven has an extensive legal career in the life science sector, working for some of the world’s largest Contract Research Organizations since 2013. Steven has negotiated a broad range of contracts for both businesses and individuals. Steven participated in the NCCU Elder Law Project, where he prepared wills, durable powers of attorney, living wills, and health care powers of attorneys for low/fixed income clients in Durham and surrounding counties. Steven finds meaningful ways to share his skills and passion with his community. Steven volunteers his time to Wills for Heroes, which provides no-cost estate planning documents to first responders and their families, through the NC Bar Foundation.
"Steven was very helpful and informative throughout the process of reviewing my divorce decree, and he completed the project promptly. Thank you, Steven!"
Matt B.
Matt practices law in the areas of commercial finance, contract law, business & corporate law, and residential and commercial real estate (with a particular emphasis on retail shopping centers and office buildings). He has extensive experience in negotiating and structuring complex commercial loan, asset acquisition, asset disposition, leasing and real estate transactions. Matt additionally works on various general matters for clients such as forming LLCs and corporations, preparing various LLC and corporation documents and drafting and reviewing various types of contracts and agreements for clients and providing advice regarding same. Matt provides clients with extensive and timely communication on their matters and ensures that his clients are well represented and highly satisfied with their legal representation and the work product provided. Matt offers all potential clients a free initial consultation to discuss their legal matters prior to engaging his firm to represent them. Prior to opening his law firm Matt worked for many years in the New York City office of a large international law firm where he counseled large multi-national businesses, financial institutions, investment groups and individuals on highly sophisticated business, financial and real estate transactions. Matt provides his clients with diligent legal representation on their matters with a very personal approach.
"Mr Bales is a true professional. Great representation and will use his services again. Jim"
Sara S.
With over eleven years of intellectual property experience, I’m happy to work on your contract problem. I am very diligent and enjoy meeting tight deadlines. Drafting memoranda, business transactional documents, termination notices, demand letters, licenses and letter agreements are all in my wheelhouse! Working in a variety of fields, from construction to pharmaceutical, I enjoy resolving any disputes that come across my desk. I will prioritize your project, big or small. Please be ready and prepared with all relevant documentation so we can get started as soon as you click HIRE! Hourly rate projects will be billed hourly in accordance with the timesheet. Flat rate projects will be billed in segments. Choosing an hourly or flat rate is up to you. Absolutely no refunds.
"Sara was very helpful with the matter and we will work with her again."
Tabetha H.
I am a startup veteran with a demonstrated history of execution with companies from formation through growth stage and acquisition. A collaborative and data-driven manager, I love to build and lead successful teams, and enjoy working full-stack across all aspects of the business.
"Tabetha provided feedback on a legal document in a timely and thorough manner. I plan to use her services going forward."
Elbert T.
Elbert Thomas is the founder of the Thomas Law Group, LLC. Elbert is proficient in contract creation, drafting, reviewing, and negotiating various business contracts and demand letters in industries such as construction, personal, professional services, non-profits, and real estate. Elbert typically represents small and large companies in drafting and negotiating countless agreements such as purchase sale agreements, interconnection agreements, lease agreements, demand letters, cease & desist letters, transfer of deeds in real property, and merger/acquisition agreements. In addition, Elbert is also experienced in start-ups, small business formation, drafting operating agreements, and estate planning.
"I enjoyed working with Elbert. He is thoughtful and willing to walk an ambiguous idea forward with you until there's clarity."
October 21, 2021
Reuben O.
As an entrepreneur at heart, I enjoy working with business owners and executives on a variety of corporate matters, including mergers and acquisitions, corporate financing, corporate governance, public and private securities offerings, privacy regulation and early-stage corporate matters including formation. As a lawyer and business professional, I understand the value of providing personal service and focused legal answers to clients navigating a rapidly changing regulatory environment. Whether in Aerospace, Consumer Goods, or Technology, I find great success in work collaboratively with clients to strategical structure their business or implementing strategic growth-oriented financing opportunities.
October 22, 2021
Thaddeus W.
Experienced legal counsel to entrepreneurs, small businesses, and investors. Advising clients starting, buying, selling, operating, financing, and investing in businesses // U.S. Army Veteran // Ironman Triathlete, Marathoner, Open Water Swimmer, USAT Triathlon Coach // Lover of Dogs, Cribbage, Craft Beer, Bourbon, and Cigars
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Browse Lawyers NowLawyer Reviews for Equipment Rental Agreement Template Projects
Draft Equipment Lease Agreement
"great to work with on time on spot"
Food Trailer lease to own contract
"Outstanding work and will work with Anatalia again. - Thank you"
Revisions to COntract
"Dolan is great to work with. He provides updates very quickly and completes the job when needed."
Equipment Sublease (Commercial Truck)
"D.P. Provided a quick bid and competitive fee for service. He did exceed the agreed to timeline but when I reread the project bid, it was an estimate so we set a firm deadline which he did meet. Receipt of the pre-revised document did not account for all background information provided (assumably because it was hurried). He was however diligent in the revision process and I am satisfied with the final result."
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
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ContractsCounsel User
A lease on agreement between two parties
Location: Minnesota
Turnaround: Less than a week
Service: Drafting
Doc Type: Equipment Lease
Number of Bids: 2
Bid Range: $1,050 - $1,200
ContractsCounsel User