Equipment Lease Document Templates

Use A Equipment Lease Agreement For Your Next Big Purchase – Download The Template For Free!

equipment lease document templates

What is an Equipment Lease Agreement?

 

An equipment lease is a legal contract that allows you to use an asset, such as a car or truck, without purchasing it. Leasing can be an excellent option for entrepreneurs who need the flexibility of not having to purchase more expensive assets outright and want to avoid the responsibility of owning those items.

An equipment lease is a type of financing that allows you to use expensive machinery for an extended period of time at a much lower monthly payment. With the right terms and good credit, leasing can be cheaper than purchasing outright. Maintaining your equipment will also be easier since you won’t have to worry about wear and tear on the machine or unexpected maintenance costs. Leasing something like a 3-D printer is especially beneficial in this regard because they’re very expensive but require little upkeep over their lifetime. The key thing to remember when considering an equipment lease is that it’s not really ownership so there should never be any confusion as to who has possession of the item after the lease expires. You’ll need to carefully read through all contracts.

 

Get Your Legal Documents & Templates Emailed 

Name(Required)
Consent(Required)
Allow Us To Stay In Touch? (Optional)
This field is for validation purposes and should be left unchanged.

Equipment Lease FAQ

What type of equipment can be leased?

Anything can be leased but generally, a contract is reserved for commercial applications.  Common equipment leases in Canada include vehicles, farm equipment, photocopiers, and even IT equipment. 

What to do if the money isn't returned?

If the money is not returned under the terms of the promissory note the lender can take to the borrower to court and win. Before it gets to that point it is best to try and request the money or settle the debt before hiring lawyers. 

Financial Legal Documents Menu

Need Customized Legal Documents?

Get A Free Online Consultation

R

Professional Advice About Legal Documents

R

Legal Templates Are Always Available Online 100% Free.

R

Need More Than A Template? We Customize Documents To Suit The Needs Of Any Canadian Business

Canadian Legal Documents & Contracts

Articles & Information

Loan Agreement Lawyers

What is A Loan Agreement In Canada? A loan agreement is a legally binding contract between two parties – the lender and borrower. The agreement outlines all of the terms involved in borrowing money from one party to another. This includes repayment schedules, interest...

Our Mission

What Is Canada Business Lawyers? Canada Business Lawyers is an online marketplace that connects entrepreneurs and small businesses with affordable legal services from lawyers specializing in common law contracts. We understand how important it is to find a reputable,...

Read the latest articles and find out how lawyers protect your business and family.

Get Started With Affordable Lawyers

Customize Your Legal Documents With Lawyers For Just $89/hr.