Free Equipment Rental Agreement Form

Equipment Details

I. The Parties

This Equipment Rental Agreement ("Agreement") is entered into as of Month Day, Yearby and between [Your Company Name]with a primary place of business at [Your Company Address] ("Lessor"), and Lessee's Namewith a primary place of business at Lessee's Address ("Lessee"). The Lessor and Lessee may collectively be referred to as the ("Parties") or individually as a ("Party").

WHEREAS, the Lessor owns and possesses certain equipment suitable for rental purposes;

WHEREAS, the Lessee desires to lease the equipment described above from the Lessor;

WHEREAS, the Lessor agrees to rent the equipment to the Lessee under the terms and conditions set forth in this Agreement;

NOW THEREFORE, in consideration of the mutual promises contained herein, the Parties hereby agree to the following terms and conditions:

II. Term

The term of this Agreement shall begin on Month Day, Year and end on Month Day, Year, unless terminated earlier as permitted by this Agreement. Both Parties agree that any extension of the rental period must be in writing and mutually agreed upon. If the Lessee fails to return the equipment by the agreed termination date, additional rental charges will apply at the daily rate specified in this Agreement. The Parties may also agree to a month-to-month extension under the same terms, provided written notice is given by both Parties prior to the expiration of the original term. Any failure to comply with these terms may result in termination or legal action as outlined in Section VI.

III. Payment

The Lessee agrees to pay the Lessor a rental fee of Amount per Frequency, payable on or before Month Day, Year. Payment can be made via Payment Method to the Lessor's designated account or in person. Late payments will incur a late fee of Amount per Frequency. If payments remain overdue for more than Number of Days, the Lessor reserves the right to terminate the Agreement and demand immediate return of the equipment. Additionally, the Lessee shall be responsible for any costs, including legal fees, incurred in recovering overdue payments or equipment.

IV. Security Deposit

The Lessee agrees to provide a refundable security deposit of Amount to the Lessor at the time of execution of this Agreement. This deposit shall be held to cover any damages to the equipment or breach of this Agreement. The deposit, or any remaining portion thereof, will be returned to the Lessee within Number of Daysdays of the return of the equipment, provided there are no damages or outstanding fees.

V. Obligations

A. Use of Equipment

The Lessee agrees to use the equipment only for its intended purpose and in accordance with all manufacturer’s instructions.

B. Maintenance

The Lessee shall maintain the equipment in good working condition during the term of this Agreement. Any repairs necessary due to the Lessee's misuse or negligence shall be the sole responsibility of the Lessee.

C. Insurance

The Lessee shall obtain and maintain insurance coverage for the equipment against loss, theft, and damage during the rental period. Proof of insurance must be provided to the Lessor upon request.

D. Return of Equipment

The Lessee agrees to return the equipment to the Lessor on the agreed termination date in the same condition as it was received, subject to normal wear and tear.

E. Inspection

The Lessor reserves the right to inspect the equipment at any time during the rental period. The Lessee agrees to make the equipment available for inspection upon reasonable notice.

F. Indemnification

The Lessee agrees to indemnify and hold harmless the Lessor from any claims, damages, liabilities, or expenses arising out of the Lessee’s use, possession, or operation of the equipment.

VI. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of State Name without regard to its conflict of law provisions.

A. Jurisdiction

The Parties agree that any disputes arising under this Agreement shall be resolved in the courts located within State Name, and both Parties consent to the jurisdiction of such courts. Any legal action related to this Agreement must be initiated in the state where the Lessor's primary place of business is located.

B. Dispute Resolution

In the event of a dispute, the Parties agree to first attempt resolution through good faith negotiation. If the dispute cannot be resolved amicably, either Party may submit the matter to mediation before resorting to litigation. The costs of mediation shall be shared equally between the Parties unless otherwise agreed.

C. Legal Remedies

If legal action is necessary to enforce any part of this Agreement, the prevailing Party shall be entitled to recover reasonable attorney fees, court costs, and other related expenses. Both Parties agree to make a good-faith effort to minimize the need for legal intervention.

VII. Amendment

This Agreement may only be amended by a written document signed by both Parties. Any changes or modifications to this Agreement must be agreed upon in writing. Verbal amendments or agreements shall not be enforceable or valid. The Parties are encouraged to review and update this Agreement periodically to ensure that it reflects their current obligations and intentions.

VIII. Severability

If any provision of this Agreement is found to be invalid or unenforceable by a court of competent jurisdiction, such invalidity or unenforceability shall not affect the other provisions of this Agreement, which shall remain in full force and effect. The Parties agree to replace any invalid provision with a valid one that comes closest to the intent of the original provision. If a provision is deemed overly broad, it shall be enforced to the maximum extent permitted by law. The remaining provisions of this Agreement shall continue to be binding and enforceable.

IX. Entire Agreement

This Agreement constitutes the entire agreement between the Parties regarding the rental of the equipment described herein. It supersedes all prior and contemporaneous agreements, understandings, representations, and warranties, whether written or oral, regarding the subject matter of this Agreement. The Parties acknowledge that no other promises or agreements, either written or oral, have been made regarding the terms of this Agreement. Any subsequent modifications or alterations to this Agreement must be made in writing and signed by both Parties to be binding.

X. Signatures

By signing below, the Parties acknowledge that they have read, understood, and agreed to the terms and conditions set forth in this Equipment Rental Agreement.

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