Equipment Loan Agreement
This Equipment Loan Agreement is for use on a business to business basis where one party is to hire equipment to another party. It is not suitable for use where the hirer of the equipment is a consumer.
This Equipment Loan Agreement includes provisions relating to training and instructions; fees and payment; and breakdown of the equipment.
This template provides a flexible agreement which can be used for transactions where the equipment is to be collected or delivered and is to be paid for by periodic instalments or lump sum.
The Equipment Loan Agreement contains the following clauses:
1. Definitions and Interpretation
3. Delivery and Collection
4. Fees and Payment
5. Title and Risk
8. Company’s Undertakings
9. Owner’s Undertakings
10. Breakdown and Repair
12. Data Protection
15. Nature of the Agreement
16. Force Majeure
17. Notices and Service
18. Applicable Law and Jurisdiction
And the following Schedules:
Schedule 1: Equipment and Hire Fees
Schedule 2: Payment Schedule
Schedule 3: Training/Instructions
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