Machinery lease agreement is a type of document prepared when some machine required for specific operation is been leased out by one company to another for specific period of time. Surveys have showed that this procedure has adopted by many companies to earn extra cash from the assets owned by them.
Format of machinery lease agreement:
- Use of machinery
- Condition of machinery and repair
- Damage and loss
- Taxes and other laws
The agreement holds full information about the machinery and the owner of the machinery. Usually shipping and delivery amount is required to pay by the lessee who is taking the machine on lease however it is also indicated in lease agreement. The lease amount required to pay by lessee each month is also shown in this sheet.