[{"data":1,"prerenderedAt":526},["ShallowReactive",2],{"document-net-equipment-lease-2-D1151":3},{"document":4,"label":23,"preview":11,"thumb":24,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":25,"breadcrumb":29,"related":37,"customDescModule":177,"customdescription":6,"mdFm":178,"mdProseHtml":525},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":22},"NET EQUIPMENT LEASE This Net Equipment Lease (the \"Agreement\") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Lessor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Lessee\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] Lease No. [NUMBER] EQUIPMENT AND RENT Lessor hereby leases and Lessee hereby rents from Lessor, at a total rent for the term of this lease of [AMOUNT], which Lessee agrees to pay to Lessor as hereinafter set forth, the following personal property (hereinafter called \"Equipment\"): (Describe fully, giving name of manufacturer, model, serial no.) TERM This lease, upon the rents, promises, terms and conditions set forth herein, is for a term of [NUMBER] months, commencing on the date (the \"Commencement Date\") that Equipment is delivered to Lessee or shipped via common or other carrier for delivery to Lessee, whichever shall be earlier. PURCHASE AND DELIVERY OF EQUIPMENT Lessee hereby directs that Equipment (which Lessee has requested Lessor to purchase) be shipped via common or other carrier to Lessee at, City of [COUNTRY], Province of [STATE/PROVINCE]. PAYMENT OF RENT Lessee agrees to pay Lessor the total rent specified above in monthly payments as follows: consecutive payments each of [AMOUNT]; then consecutive payments each of [AMOUNT]; then The foregoing payments shall be made as follows: TIME: Upon signing this lease, Lessee shall pay Lessor the sum of [AMOUNT], constituting the payment in advance of the Security Deposit of [AMOUNT] and the [DATE] of monthly payments of rent stated above. On the Commencement Date, Lessee shall commence, and on the corresponding date of each month thereafter shall continue making the remaining monthly payments in the order and amounts stated above, until the total rent shall have been paid in full. LOCATION AND IDENTIFICATION OF EQUIPMENT Equipment shall be located at the address to which Equipment is to be shipped as set forth in Section 3, and shall not be removed from such location without the prior written consent of Lessor. Lessee will not change or remove any insignia or lettering which is on Equipment at the time of delivery thereof or which is thereafter placed thereon indicating Lessor's ownership thereof, and at any time during the term of this lease, upon request of Lessor, Lessee will affix to Equipment, in a prominent place, labels, plates or other marking supplied by Lessor stating that Equipment is owned by Lessor. LESSEE'S INSPECTION, CONCLUSIVE PRESUMPTIONS Lessor shall not be liable for loss or damage occasioned by any cause, circumstance or event of whatsoever nature, including but not limited to failure of or delay in delivery, delivery to the wrong place, delivery of improper Equipment or property other than Equipment, damage to Equipment, governmental regulations, strike, embargo or any other cause, circumstance or event, whether of like or unlike nature. Lessee shall inspect Equipment within [NUMBER] business days after its arrival at the address set forth in Section 3. Unless within said [NUMBER] business days Lessee gives written notice to Lessor, specifying any defect in or other proper objection to Equipment, Lessee agrees that it shall be conclusively presumed, as between Lessor and Lessee, that Lessee has fully inspected Equipment, that Equipment is in full compliance with the terms of this lease and in good condition and repair, and that Lessee is satisfied with and has accepted Equipment in case Lessee gives such written notice with respect to any item of Equipment, Lessee shall on demand by Lessor, pay Lessor any amounts theretofore paid or owing by Lessor in respect of the purchase of such item of Equipment and upon such payment Lessee shall be subrogated to Lessor's claim if any against the manufacturer or other supplier thereof and Lessee shall become entitled to such item as-is-where-is, without warranty, express or implied by the Lessor with respect to any matter whatsoever, and Lessee shall indemnify and save Lessor harmless from any and all liability to the manufacturer or other supplier thereof. USE AND MAINTENANCE, ALTERATIONS AND ADDITIONS Lessee shall use Equipment solely in the conduct of its business and in a careful and proper manner and shall not part with possession of or enter into any sub-lease with respect to Equipment or any part thereof or assign this lease or its interest hereunder without the prior written consent of Lessor. Lessee at its own cost and expense shall keep Equipment in good repair, condition and working order and shall furnish any and all parts and labour required for that purpose. Lessee shall not make any material alterations to Equipment without the prior written consent of Lessor. All equipment accessories, parts and replacements for or which are added to or become attached to Equipment shall immediately become the property of Lessor and shall be deemed incorporated in Equipment and subject to the terms of this lease as if originally leased hereunder. LOSS AND DAMAGE Lessee hereby assumes and shall bear the entire risk of loss of and damage to Equipment from any and every cause whatsoever. No loss of or damage to Equipment or any part thereof shall impair any obligation of Lessee under this lease, which shall continue in full force and effect. In the event of damage of any kind whatever to any item of Equipment (unless the same is damaged beyond repair), Lessee, at the option of Lessor, shall at Lessee's expense place the same in good repair condition and working order; or replace the same with like Equipment of the same make and of the same or a later model, and in good repair condition and working order. If Equipment, or any item thereof, is determined by Lessor to be lost, stolen, destroyed or damaged beyond repair, Lessee shall immediately pay Lessor therefor in cash an amount equal to the aggregate amount of unpaid total rent for the balance of the term of this lease or the amount of such unpaid total rent allocated by Lessor to the item or items involved, as the case may be. Upon such payment this lease shall terminate with respect to Equipment or items thereof so paid for, and Lessee thereupon shall become entitled thereto as-is-where-is, without warranty, express or implied, with respect to any matter whatsoever. INDEMNITY Lessee shall indemnify and save Lessor harmless from any and all liability arising out of the ownership, selection, possession, leasing, renting, operation control, use, maintenance, delivery and/or return of Equipment, but shall be credited with any amounts received by Lessor with respect thereto from liability insurance procured by Lessee. INSURANCE Lessee shall keep Equipment insured against all risks of loss or damage from every cause whatsoever for not less than the replacement cost new of said leased equipment without consideration for depreciation and shall carry public liability insurance, both personal injury and property damage; covering Equipment; and Lessee shall be liable for all deductible portions of all required insurance. All said insurance should be in form and amount and with companies satisfactory to Lessor. All insurance for loss or damage shall provide that losses, if any, shall be payable to Lessor, and all such liability insurance shall be in the joint names of Lessor and Lessee. Lessee shall pay the premiums therefore and deliver to Lessor the policies of insurance or duplicates thereof, or other evidence satisfactory to Lessor of such insurance coverage",null,"Net Equipment Lease 2","7",70,"doc","https://templates.business-in-a-box.com/imgs/1000px/net-equipment-lease-2-D1151.png","https://templates.business-in-a-box.com/imgs/250px/1151.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1151.xml",{"title":6,"description":6},[16,19],{"label":17,"url":18},"Production & Operations","/templates/production-operations/",{"label":20,"url":21},"Equipment Agreement","/templates/equipment-agreement/","net equipment lease 2","Net Equipment Lease 2 Template","https://templates.business-in-a-box.com/imgs/400px/1151.png",[26,16,19],{"label":27,"url":28},"Templates","/templates/",[30,31,34],{"label":27,"url":28},{"label":32,"url":33},"Legal Agreements","/templates/business-legal-agreements/",{"label":35,"url":36},"Real Estate & Leases","/templates/real-estate-and-leases/",[38,42,46,50,54,58,62,66,70,74,78,82,86,104,117,135,150,163],{"label":39,"url":40,"thumb":41,"extension":10},"Net Equipment Lease","/template/net-equipment-lease-D1152","https://templates.business-in-a-box.com/imgs/250px/1152.png",{"label":43,"url":44,"thumb":45,"extension":10},"Checklist Equipment Lease","/template/checklist-equipment-lease-D1134","https://templates.business-in-a-box.com/imgs/250px/1134.png",{"label":47,"url":48,"thumb":49,"extension":10},"Equipment Lease Agreement","/template/equipment-lease-agreement-D1140","https://templates.business-in-a-box.com/imgs/250px/1140.png",{"label":51,"url":52,"thumb":53,"extension":10},"Equipment Operating Lease","/template/equipment-operating-lease-D1145","https://templates.business-in-a-box.com/imgs/250px/1145.png",{"label":55,"url":56,"thumb":57,"extension":10},"Equipment Lease Agreement Long","/template/equipment-lease-agreement-long-D1141","https://templates.business-in-a-box.com/imgs/250px/1141.png",{"label":59,"url":60,"thumb":61,"extension":10},"Equipment Lease Agreement Short","/template/equipment-lease-agreement-short-D1142","https://templates.business-in-a-box.com/imgs/250px/1142.png",{"label":63,"url":64,"thumb":65,"extension":10},"Equipment Lease Agreement With Option to Purchase","/template/equipment-lease-agreement-with-option-to-purchase-D1143","https://templates.business-in-a-box.com/imgs/250px/1143.png",{"label":67,"url":68,"thumb":69,"extension":10},"Equipment and Leasehold Improvements Lease Agreement Long","/template/equipment-and-leasehold-improvements-lease-agreement-long-D1139","https://templates.business-in-a-box.com/imgs/250px/1139.png",{"label":71,"url":72,"thumb":73,"extension":10},"Equipment Purchase Agreement","/template/equipment-purchase-agreement-D1146","https://templates.business-in-a-box.com/imgs/250px/1146.png",{"label":75,"url":76,"thumb":77,"extension":10},"Equipment Loan Agreement","/template/equipment-loan-agreement-D12843","https://templates.business-in-a-box.com/imgs/250px/12843.png",{"label":79,"url":80,"thumb":81,"extension":10},"Equipment Maintenance Agreement","/template/equipment-maintenance-agreement-D1144","https://templates.business-in-a-box.com/imgs/250px/1144.png",{"label":83,"url":84,"thumb":85,"extension":10},"Equipment Maintenance Log","/template/equipment-maintenance-log-D13685","https://templates.business-in-a-box.com/imgs/250px/13685.png",{"description":87,"descriptionCustom":6,"label":88,"pages":89,"size":90,"extension":10,"preview":91,"thumb":92,"svgFrame":93,"seoMetadata":94,"parents":96,"keywords":95,"url":103},"LEASE TO OWN AGREEMENT This Lease to Own Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the \"Landlord/Seller\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [SECOND PARTY NAME] (the \"Tenant/Buyer\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] WHEREAS the Landlord wishes to lease its property to the Tenant and give an option to purchase as well; WHEREAS the Tenant wishes to take the property on lease and have an option to purchase the same. NOW THEREFORE, in consideration of the premises and of the mutual agreements contained in this Agreement, the Parties hereto agree as follows: DESCRIPTION The Landlord/Seller agrees to lease, and the Tenant/Buyer agrees to rent the property located at: [ENTER PROPERTY ADDRESS] TERM The term of this Lease/Option shall be for a period of ________ months commencing on _____________ and ending on ____________. The term will be automatically extended for _______ periods of_________ months, unless the Tenant/Buyer gives notice to the Landlord/Seller of its intent to terminate this Lease, by mailing a written notice to the last provided address of the Landlord/Seller. Liability for payment will not extend beyond notice to terminate this Agreement. RENT AND RENT CREDIT The Tenant/Buyer agrees to pay to the Landlord/Seller, the sum of $__________ per month, with the first payment beginning _______________ as rent for the property, for the term of this Lease/Option, and during any extensions thereof. All rental payments shall be due and payable in advance on the 1st day of each and every month. An amount equal to $_____________ for each month in which rent was paid, shall be credited to the Tenant/Buyer and applied to the purchase price of the property in the event that the Tenant/Buyer exercises its option hereunder; otherwise, this credit shall be non-refundable and considered forfeited if the option is not exercised. PURCHASE OPTION 4.1 The Tenant/Buyer, as part of the consideration herein, is hereby granted the exclusive right, option and privilege of purchasing said property at any time during the term of this Lease/Option Agreement or any extension thereof. The Tenant/Buyer shall notify the Landlord/Seller in writing of the exercise of this option at least ten (10) days prior to the expiration of the initial term of this Lease/Option, or the expiration of any extension thereof, by mail to the last-provided address of the Landlord/Seller. PURCHASE OPTION PRICE AND TERMS 5.1 The Tenant/Buyer agrees to pay for said property the sum of $____________ less any sums for which the Tenant/Buyer is entitled to claim reimbursement or offset in accordance with this Agreement, the net sum to be paid in cash, certified check, or e-transfer. The Tenant/Buyer has given a non-refundable option consideration of $___________ for the purchase. Additional sums will be properly credited. COVENANTS OF TENANT/BUYER Commencing with and during the term of this Agreement, including extensions, the Tenant/Buyer hereby covenants and agrees as follows: That the Tenant/Buyer will pay all utility charges and bills, including, but not limited to, water, sewer, gas, oil, and electric, which may be assessed or charged against the property; That the Tenant/Buyer will not use the property for any unlawful purpose; and that the Tenant/Buyer will conform to and obey all laws, ordinances, rules, regulations, requirements and orders of all federal, state, and local governmental authorities, agencies, departments, bureaus, boards or officials, respecting the use of the property; and That the Tenant/Buyer will surrender and deliver the property at the end of the term or any extensions thereof, should the option herein not be exercised, in as good order and condition as the same now exists, reasonable use and natural wear and tear excepted. COVENANTS OF LANDLORD/SELLER Commencing with and during the term of this Agreement, including extensions, the Tenant/Buyer hereby covenants and agrees as follows: That the Landlord/Seller shall pay for and maintain fire and extended coverage insurance on said property. That the Tenant/Buyer shall peaceably and quietly hold, occupy, use and enjoy the property, without any let, hindrance by the Landlord/Seller or any person associated therewith. BREACH BY TENANT/BUYER If the Tenant/Buyer shall fail to keep and perform any of the covenants, agreements, or provisions of this Lease/Option, or if the Tenant/Buyer shall abandon the property, it shall be lawful for the Landlord/Seller to enter into said property and again have, repossess, and enjoy the same as if this Lease/Option had not been made, and thereupon, this Lease/Option and everything herein contained on the part of the Landlord/Seller to be done and performed shall cease, determine and be utterly void. The commencement of a proceeding or suit in forcible entry and detainer or in ejectment, or otherwise after any default by the Tenant/Buyer, shall be equivalent in every respect to actual entry by the Landlord/Seller. DEFAULT BY LANDLORD/SELLER (PAYMENTS) In the event the Landlord/Seller is delinquent on any payments required under this Agreement or pertinent to the above property, the Tenant/Buyer shall have the right to make such payments as necessary to cure said default on behalf of the Seller/Landlord. COSTS OF IMPROVEMENTS","Lease To Own Agreement","6",513,"https://templates.business-in-a-box.com/imgs/1000px/lease-to-own-agreement-D12870.png","https://templates.business-in-a-box.com/imgs/250px/12870.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12870.xml",{"title":95,"description":6},"lease to own agreement",[97,100],{"label":98,"url":99},"Real Estate","real-estate-business",{"label":101,"url":102},"Business Checklists","business-checklists","/template/lease-to-own-agreement-D12870",{"description":105,"descriptionCustom":6,"label":106,"pages":89,"size":90,"extension":10,"preview":107,"thumb":108,"svgFrame":109,"seoMetadata":110,"parents":112,"keywords":111,"url":116},"VEHICLE LEASE AGREEMENT This Vehicle Lease Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [COMPANY NAME] (the \"Lessor\"), a corporation organized and existing under the laws of [STATE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Lessee\"), a corporation organized and existing under the laws of [STATE], with its head office located at: [COMPLETE ADDRESS] RECITALS WHEREAS, the Lessor is the registered owner of the Vehicle. WHEREAS, the lessor is desirous of leasing and the lessee has agreed to lease the said motor vehicle on the terms and conditions contained herein. WHEREAS, this Agreement shall be treated as a true lease for the federal and applicable state income tax purposes with Lessor having all benefits of ownership of the Vehicle. NOW THEREFORE THE PARTIES AGREE AS FOLLOWS: LEASED VEHICLES The Lessor hereby leases to the Lessee the vehicle described in Exhibit 1 attached hereto, subject to the conditions and covenants set forth below. The Vehicle shall be used by the Lessee to serve the best interests of the Lessor and the public. The Vehicle must be maintained and operated in a manner that provides maximum safety and protection to the Lessee's employees and passengers. The Lessee shall comply with all driver's license requirements as set forth by the Federal and State Governments. AMOUNT DUE AT THE beginning OF THE TRANSACTION Lesser and Lessee agree on the following: A down payment of $[SPECIFY] will be made at the beginning of the transaction. This amount will be subtracted from the amount to be amortized over the term. A security deposit of $[SPECIFY] is due at the beginning of the transaction and will be refunded at the end of the term. SECURITY DEPOSIT The security deposit will not earn interest. The security deposit shall be retained by the Lessor during the term of this Lease as additional security for the performance of the Lessee's obligations under this Lease. The Lessor shall deduct from the security deposit any amount not paid by the Lessee under this Lease and the balance, if any, shall be refunded at the end of this Lease. TERM OF LEASE AND COMMENCEMENT DATE The term of this lease shall be for [MONTH/YEARS], commencing on [DAY/MONTH/YEAR] the date that the vehicle(s) are placed in service by the Lessee and continuing until [DAY/MONTH/YEAR], or until this agreement is canceled or terminated in writing by either the Lessor or Lessee, or by mutual consent, with 30 days advance notice. The maximum term of any lease agreement shall not exceed five (5) years. In the event of breach or noncompliance with this agreement, the Lessor may terminate this agreement by giving the Lessee advance written notice. LEASE PAYMENTS, FEES AND RESIDUAL VALUE The Lessor and Lessee have negotiated and agreed that the initial value of the vehicle is $[SPECIFY]. The rental price of the motor vehicle is $[SPECIFY] payable on the [SPECIFY] day of the MONTH for the next [SPECIFY] months. The lease rate is [SPECIFY] % per annum. The estimated residual value of the Vehicle is $[SPECIFY]. A late fee of $ [SPECIFY] will be charged on all payments that are paid after the due date. INSURANCE At all times during the term of this lease, the Lessee shall obtain and maintain, at its own expense, the following minimum insurance coverage through a recognized insurer. Public liability for bodily injury, death or damage to the property of others in the amount of $1,000,000 per claim, regardless of the number of claims resulting from any one accident; Collision insurance with a maximum deductible of $1,000; and Comprehensive fire and theft insurance with a maximum deductible of $1,000. If the Lessee does not maintain appropriate insurance coverage, the Lessor has the right, but not the obligation, to do so and the Lessee will owe us this amount. Insurance coverage must be confirmed annually to the Lessor. The insurance policy must name the Lessor as an additional insured and beneficiary of the loss under the applicable insurance policy. The policy must also give the Lessor at least ten (10) days notice of any cancellation, termination or reduction in coverage. The Lessee will assign to the Lessor any monies paid under the insurance regardless of who obtained it. The Lessee authorizes the Lessor to receive or collect any monies (including any refund of premiums) payable under the insurance, to complete any proof of loss and any claim, to endorse cheques or drafts for payments and to cancel the insurance or settle or discharge any claim under the insurance. If for any reason the insurance is not fully maintained or coverage is denied, the Lessee will remain liable to us for all amounts due under this lease. The Lessee shall authorize its insurance provider to provide the Lessor with the details of the insurance policy. Any repairs over $2,000 must be approved in advance by the Lessor. The lessee agrees to permit the lessor to inspect the vehicle at any reasonable time and place after making such repairs. OWNERSHIP The Lessor is the registered owner of the vehicle. All right, title and interest in and to the Vehicle shall remain with the Lessor and nothing in this Agreement shall be deemed to transfer to the Lessee any right of ownership. lessor obligations It is agreed that the lessor will make the vehicle available to the lessee during the term of this vehicle lease agreement. The Lessor hereby agrees: To grant the Lessee exclusive use and possession of the motor vehicle during the duration of this agreement, save as is provided for by the agreement; To grant the Lessee quiet possession of the motor vehicle; lessEE obligations It is agreed that the Lessee shall make use of the Vehicle during the operation of this Vehicle Lease Agreement in accordance with terms of this Vehicle Lease Agreement The Lessor hereby agrees: To assume all risks of loss and damage related to the vehicle;","Vehicle Lease Agreement","https://templates.business-in-a-box.com/imgs/1000px/vehicle-lease-agreement-D12694.png","https://templates.business-in-a-box.com/imgs/250px/12694.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12694.xml",{"title":111,"description":6},"vehicle lease agreement",[113,115],{"label":32,"url":114},"business-legal-agreements",{"label":32,"url":114},"/template/vehicle-lease-agreement-D12694",{"description":118,"descriptionCustom":6,"label":119,"pages":120,"size":121,"extension":10,"preview":122,"thumb":123,"svgFrame":124,"seoMetadata":125,"parents":126,"keywords":133,"url":134},"BILL OF SALE This Bill of Sale (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Seller\") , a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [BUYER NAME] (the \"Buyer\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] For good and valuable consideration, the Seller hereby sells and transfers possession of the following goods in their present condition and location to the Buyer, and its successors and assigns forever, the following described goods [DETAILED LIST OF GOODS]. Seller warrants and represents that he/she has good title to said property, full authority to sell and transfer same and that said goods and chattels are being sold free and clear of all liens, encumbrances, liabilities and adverse claims, of every nature and description.","Bill of Sale","1",29,"https://templates.business-in-a-box.com/imgs/1000px/bill-of-sale-D1229.png","https://templates.business-in-a-box.com/imgs/250px/1229.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1229.xml",{"title":6,"description":6},[127,130],{"label":128,"url":129},"Sales & Marketing","sales-marketing",{"label":131,"url":132},"Marketing & Sales Contracts","marketing-sales-contracts","bill sale","/template/bill-of-sale-D1229",{"description":136,"descriptionCustom":6,"label":137,"pages":120,"size":138,"extension":10,"preview":139,"thumb":140,"svgFrame":141,"seoMetadata":142,"parents":143,"keywords":148,"url":149},"COMPANY NAME:_______________________ Address: _______________________________________ City: ______________________________ State/Province: ___________ Zip/postal code__________ Country: ________________ Phone: _________________ Fax: __________________ Email: _________________________________________ Purchase Order The following number must appear on all related correspondence, shipping papers, and invoices: P.O. NUMBER: Contact: Address: _______________________________________ City: ______________________________ State/Province: ___________ Zip/postal code___________ Country: ________________ Phone: _________________ Fax: __________________ Email: _________________________________________ Ship To:","Purchase Order",49,"https://templates.business-in-a-box.com/imgs/1000px/purchase-order-D1411.png","https://templates.business-in-a-box.com/imgs/250px/1411.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1411.xml",{"title":6,"description":6},[144,145],{"label":128,"url":129},{"label":146,"url":147},"Bids & Quotes","bids-quotes","purchase order","/template/purchase-order-D1411",{"description":151,"descriptionCustom":6,"label":152,"pages":153,"size":90,"extension":10,"preview":154,"thumb":155,"svgFrame":156,"seoMetadata":157,"parents":159,"keywords":158,"url":162},"BUILDING MAINTENANCE AGREEMENT This Building Maintenance Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Service Provider\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [CLIENT NAME] (the \"Client\"), an individual with their main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Client owns or manages the property located at [PROPERTY ADDRESS], hereinafter referred to as the \"Property,\" and wishes to engage the services of the Service Provider for the purpose of performing building maintenance services; and WHEREAS, the Service Provider has the expertise and resources to provide the required building maintenance services; NOW, THEREFORE, it is agreed as follows: SERVICES 1.1 The Service Provider shall provide the following building maintenance services to the Client (the \"Services\"): [List of Specific Services, e.g., regular inspections, cleaning, HVAC maintenance, plumbing repairs, electrical maintenance, etc.] TERM 2.1 The term of this Contract shall commence on [DATE] and shall continue for an initial term of [NUMBER OF YEARS/MONTHS] from the date of execution by both Parties. After the initial term, this Contract may be renewed by mutual agreement of the Parties. PAYMENT 3.1 The Client agrees to pay the Service Provider the agreed-upon fee for the Services as follows: [Payment Schedule, e.g., monthly, quarterly, annually, or as otherwise agreed upon] INSPECTIONS AND REPORTS 4.1 The Service Provider shall conduct regular inspections of the Property as part of its maintenance services. After each inspection, the Service Provider shall provide the Client with a detailed report outlining the status of the Property, any maintenance work performed, and any recommended repairs or upgrades. MAINTENANCE STANDARDS 5","Building Maintenance Agreement","3","https://templates.business-in-a-box.com/imgs/1000px/building-maintenance-agreement-D13817.png","https://templates.business-in-a-box.com/imgs/250px/13817.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13817.xml",{"title":158,"description":6},"building maintenance agreement",[160,161],{"label":32,"url":114},{"label":32,"url":114},"/template/building-maintenance-agreement-D13817",{"description":164,"descriptionCustom":6,"label":165,"pages":166,"size":167,"extension":10,"preview":168,"thumb":169,"svgFrame":170,"seoMetadata":171,"parents":172,"keywords":175,"url":176},"COMMERCIAL LEASE AGREEMENT This Lease Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Landlord\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [TENANT NAME] (the \"Tenant\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] DESCRIPTION OF PREMISES Landlord leases to Tenant the premises located at [address], [city], [state], and described more particularly as follows: [insert legal description]. GRANT OF LEASE Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described in Exhibit \"A\" attached hereto and by reference made a part hereof (the \"Leased Premises\"), together with, as part of the parcel, all improvements located thereon. LEASE TERM Total Term of Lease: The term of this Lease shall begin on the commencement date, as defined in Section b) of this Article 3, and shall terminate on [DATE]. Commencement Date: The \"Commencement Date\" shall mean the date on which the Tenant shall commence to conduct business on the Leased Premised, so long as such date is not in excess of [NUMBER] days subsequent to execution hereof. EXTENSIONS The parties hereto may elect to extend this Agreement upon such terms and conditions as may be agreed upon in writing and signed by the parties at the time of any such extension. DETERMINATION OF RENT The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times: Annual Rent: Annual rent for the term of the Lease shall be [AMOUNT], plus applicable sales tax. Payment of Yearly Rent: The annual rent shall be payable in advance in equal monthly installments of one-twelfth (1/12th) of the total yearly rent, which shall be [AMOUNT], on the first day of each and every calendar month during the term hereof, and prorata for the fractional portion of any month, except that on the first day of the calendar month immediately following the Commencement Date, the Tenant shall also pay to the Landlord rent at the said rate for any portion of the preceding calendar month included in the term of this Lease. Reference to yearly rent hereunder shall not be implied or construed to the effect that this Lease or the obligation to pay rent hereunder is from year to year, or for any term shorter than the existing Lease term, plus any extensions as may be agreed upon. A late fee in the amount of [AMOUNT] shall be assessed if payment is not postmarked or received by Landlord on or before the tenth day of each month. USE OF PROPERTY BY TENANT The Leased Premises may be occupied and used by Tenant exclusively as a [DESCRIBE], to be known as a [DESCRIBE]. Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any Sub-Tenant, assignee, or licensee, which or who shall use the property for any other use. RESTRICTIONS ON USE Tenant shall not use the demised premises in any manner that will increase risks covered by insurance on the demised premises and result in an increase in the rate of insurance or a cancellation of any insurance policy, even if such use may be in furtherance of Tenant's business purposes. Tenant shall not keep, use, or sell anything prohibited by any policy of fire insurance covering the demised premises, and shall comply with all requirements of the insurers applicable to the demised premises necessary to keep in force the fire and liability insurance. WASTE, NUISANCE, OR UNLAWFUL ACTIVITY Tenant shall not allow any waste or nuisance on the demised premises, or use or allow the demised premises to be used for any unlawful purpose. DELAY IN DELIVERING POSSESSION This lease agreement shall not be rendered void or voidable by the inability of Landlord to deliver possession to Tenant on the date set forth in Section 3. Landlord shall not be liable to Tenant for any loss or damage suffered by reason of such a delay; provided, however, that Landlord does deliver possession no later than [date]. In the event of a delay in delivering possession, the rent for the period of such delay will be deducted from the total rent due under this lease agreement. No extension of this lease agreement shall result from a delay in delivering possession. SECURITY DEPOSIT The Tenant has deposited with the Landlord the sum of [AMOUNT] as security for the full and faithful performance by the Tenant of all the terms of this lease required to be performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of a bona fide sale of the property of which the leased premises are a part, the Landlord shall have the right to transfer the security to the purchaser to be held under the terms of this lease, and the Landlord shall be released from all liability for the return of such security to the Tenant. TAXES Property Taxes: The Tenant shall be liable for all taxes levied against any leasehold interest of the Tenant or personal property and trade fixtures owned or placed by the Tenant in the Leased Premises. Real Estate Taxes: During the continuance of this lease Landlord shall deliver to Tenant a copy of any real estate taxes and assessments against the Leased Property. From and after the Commencement Date, the Tenant shall pay to Landlord not later than [NUMBER] days after the day on which the same may become initially due, all real estate taxes and assessments applicable to the Leased Premises, together with any interest and penalties lawfully imposed thereon as a result of Tenant's late payment thereof, which shall be levied upon the Leased Premises during the term of this Lease. Contest of Taxes: The Tenant, at its own cost and expense, may, if it shall in good faith so desire, contest by appropriate proceedings the amount of any personal or real property tax. The Tenant may, if it shall so desire, endeavor at any time or times, by appropriate proceedings, to obtain a reduction in the assessed valuation of the Leased Premises for tax purposes. In any such event, if the Landlord agrees, at the request of the Tenant, to join with the Tenant at Tenant's expense in said proceedings and the Landlord agrees to sign and deliver such papers and instruments as may be necessary to prosecute such proceedings, the Tenant shall have the right to contest the amount of any such tax and the Tenant shall have the right to withhold payment of any such tax, if the statute under which the Tenant is contesting such tax so permits. Payment of Ordinary Assessments: The Tenant shall pay all assessments, ordinary and extraordinary, attributable to or against the Leased Premises not later than [NUMBER] days after the day on which the same became initially due. The Tenant may take the benefit of any law allowing assessments to be paid in installments and in such event the Tenant shall only be liable for such installments of assessments due during the term hereof. ","Commercial Lease Agreement","19",145,"https://templates.business-in-a-box.com/imgs/1000px/lease-agreement-D1179.png","https://templates.business-in-a-box.com/imgs/250px/1179.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1179.xml",{"title":6,"description":6},[173,174],{"label":98,"url":99},{"label":101,"url":102},"lease agreement","/template/lease-agreement-D1179",false,{"seo":179,"reviewer":192,"legal_disclaimer":196,"quick_facts":197,"at_a_glance":199,"personas":203,"variants":228,"glossary":256,"clauses":293,"how_to_fill":344,"common_mistakes":385,"faqs":410,"industries":438,"comparisons":455,"diy_vs_lawyer":469,"jurisdictions":482,"related_template_ids_curated":503,"schema":513,"classification":514},{"meta_title":180,"meta_description":181,"primary_keyword":182,"secondary_keywords":183,"robots":191,"family":182,"is_canonical":177},"Net Equipment Lease Template #2 | Free Word Download","Free net equipment lease template for leasing machinery, vehicles, and business equipment.","net equipment lease template",[184,185,186,187,188,189,190],"net lease equipment template","equipment rental agreement template","equipment lease contract template free","commercial equipment lease template word","triple net equipment lease template","equipment lease agreement template free","business equipment lease form","noindex,follow",{"name":193,"credential":194,"reviewed_date":195},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":198,"legal_review_recommended":196,"signature_required":196,"notarization_required":177},"advanced",{"what_it_is":200,"when_you_need_it":201,"whats_inside":202},"A Net Equipment Lease is a legally binding agreement in which a lessor transfers the right to use specific equipment to a lessee for a defined term and fixed rent, with the lessee bearing responsibility for some or all of the operating costs — including maintenance, insurance, and applicable taxes. This free Word download provides a professionally drafted starting point you can edit online and export as PDF for execution by both parties.\n","Use it when a business needs to finance the use of machinery, vehicles, technology hardware, or industrial equipment without purchasing the asset outright, and the lessor requires the lessee to carry the ongoing costs of ownership during the lease term.\n","Equipment description and serial identification, lease term and rent schedule, net cost obligations (maintenance, insurance, taxes), permitted use and care standards, default and remedies, end-of-term options, and governing law. The template also covers lessee representations, lessor warranties, indemnification, and return conditions.\n",[204,208,212,216,220,224],{"title":205,"use_case":206,"icon_asset_id":207},"Equipment lessors","Leasing owned machinery or vehicles to businesses on a net-cost basis","persona-lessor",{"title":209,"use_case":210,"icon_asset_id":211},"Small business owners","Acquiring use of equipment with predictable net rent without capital outlay","persona-small-business-owner",{"title":213,"use_case":214,"icon_asset_id":215},"Construction and contracting firms","Leasing heavy equipment for project duration while bearing maintenance costs","persona-contractor",{"title":217,"use_case":218,"icon_asset_id":219},"Fleet managers","Structuring multi-vehicle net leases with clearly defined insurance obligations","persona-operations-director",{"title":221,"use_case":222,"icon_asset_id":223},"Technology and IT directors","Leasing servers, hardware, or specialized tech on a net-cost arrangement","persona-tech-director",{"title":225,"use_case":226,"icon_asset_id":227},"Healthcare facility operators","Leasing diagnostic or clinical equipment with lessee-borne service contracts","persona-healthtech-operator",[229,233,237,241,245,248,252],{"situation":230,"recommended_template":231,"slug":232},"Lessor bears all maintenance and insurance costs","Gross Equipment Lease","checklist-equipment-lease-D1134",{"situation":234,"recommended_template":235,"slug":236},"Lessee bears taxes, insurance, and maintenance in full (triple net)","Triple Net Equipment Lease","net-equipment-lease-D1152",{"situation":238,"recommended_template":239,"slug":240},"Lessee intends to purchase the equipment at end of term","Equipment Lease to Own Agreement","lease-to-own-agreement-D12870",{"situation":242,"recommended_template":243,"slug":244},"Short-term or project-based equipment rental","Equipment Rental Agreement","equipment-lease-agreement-D1140",{"situation":246,"recommended_template":106,"slug":247},"Leasing vehicles specifically for a business fleet","vehicle-lease-agreement-D12694",{"situation":249,"recommended_template":250,"slug":251},"Financing equipment through a bank or lender structure","Equipment Financing Agreement","financing-agreement-D877",{"situation":253,"recommended_template":254,"slug":255},"Subleasing leased equipment to a third party","Equipment Sublease Agreement","landlord-consent-to-sublease-agreement-D13019",[257,260,263,266,269,272,275,278,281,284,287,290],{"term":258,"definition":259},"Net Lease","A lease structure in which the lessee pays base rent plus some or all operating expenses — such as taxes, insurance, and maintenance — rather than the lessor absorbing those costs.",{"term":261,"definition":262},"Lessor","The party who owns the equipment and grants the right to use it to the lessee in exchange for rent payments.",{"term":264,"definition":265},"Lessee","The party who pays rent and takes possession of the equipment for the duration of the lease term.",{"term":267,"definition":268},"Lease Term","The defined period during which the lessee has the contractual right to use the equipment, stated as a start date and end date or a number of months.",{"term":270,"definition":271},"Base Rent","The fixed periodic payment the lessee owes the lessor, exclusive of any net costs such as insurance premiums or maintenance expenses.",{"term":273,"definition":274},"Net Cost Obligations","The operating expenses — commonly maintenance, property taxes on the equipment, and insurance premiums — that the lessee agrees to pay directly under a net lease structure.",{"term":276,"definition":277},"Default","A failure by either party to perform a contractual obligation — most commonly the lessee's failure to pay rent or maintain the equipment as required.",{"term":279,"definition":280},"Acceleration Clause","A provision that makes all remaining rent payments immediately due and payable upon the lessee's default, rather than requiring the lessor to collect payments as they fall due.",{"term":282,"definition":283},"End-of-Term Option","A clause specifying what happens when the lease expires — the lessee may return the equipment, renew the lease, or exercise a purchase option at a pre-agreed price.",{"term":285,"definition":286},"Indemnification","A contractual obligation by one party to compensate the other for losses, liabilities, or legal claims arising from specified events — typically the lessee's use or misuse of the equipment.",{"term":288,"definition":289},"Fair Market Value","The price at which equipment would change hands between a willing buyer and seller, used to set purchase-option pricing at lease end.",{"term":291,"definition":292},"Hell-or-High-Water Clause","A provision stating the lessee's obligation to pay rent is unconditional and cannot be suspended or reduced for any reason, including equipment failure or casualty.",[294,299,304,309,314,319,324,329,334,339],{"name":295,"plain_english":296,"sample_language":297,"common_mistake":298},"Equipment description and identification","Identifies the leased equipment with enough specificity — make, model, serial number, and condition — to distinguish it from any other asset.","Lessor hereby leases to Lessee the equipment described as follows: [EQUIPMENT MAKE/MODEL], Serial No. [SERIAL NUMBER], Year [YEAR], in [NEW / USED] condition ('Equipment'), as further described in Exhibit A.","Relying on a generic description like 'one forklift' without a serial number. If the equipment is damaged or substituted, there is no objective reference point to determine which asset was covered.",{"name":300,"plain_english":301,"sample_language":302,"common_mistake":303},"Lease term and commencement","States the exact start and end date of the lease, and the conditions — such as delivery confirmation — that trigger the start of the term.","The lease term shall commence on [START DATE] ('Commencement Date') and expire on [END DATE], unless earlier terminated in accordance with this Agreement ('Lease Term').","Setting the commencement date as a calendar date rather than a delivery-confirmed date. If equipment is delivered late, the lessee begins paying rent before the equipment is available for use.",{"name":305,"plain_english":306,"sample_language":307,"common_mistake":308},"Rent and payment schedule","States the base rent amount, payment frequency, due date, accepted payment methods, and any late-payment fee.","Lessee shall pay Lessor base rent of $[AMOUNT] per [month/quarter], due on the [DAY] of each [month/quarter], commencing [FIRST PAYMENT DATE]. Payments more than [X] days late shall accrue interest at [X]% per month.","Omitting a late-payment interest rate. Without it, the lessor's only remedy for chronic late payment is formal default — a slower and more expensive process.",{"name":310,"plain_english":311,"sample_language":312,"common_mistake":313},"Net cost obligations (taxes, insurance, maintenance)","Defines which operating costs the lessee must pay — typically property taxes assessed on the equipment, insurance premiums, and all routine and major maintenance.","Lessee shall bear and pay, as net costs, all: (a) property and use taxes assessed against the Equipment during the Lease Term; (b) insurance premiums as specified in Section [X]; and (c) costs of routine and major maintenance and repair.","Failing to specify whether 'maintenance' includes major repairs and overhauls or only routine servicing. Ambiguity leads to disputes when a significant component fails mid-lease.",{"name":315,"plain_english":316,"sample_language":317,"common_mistake":318},"Insurance requirements","Requires the lessee to obtain and maintain specified insurance coverages — typically all-risk property and commercial general liability — and name the lessor as an additional insured.","Lessee shall maintain, at its own expense: (a) all-risk property insurance on the Equipment for its full replacement value of not less than $[AMOUNT]; and (b) commercial general liability insurance of not less than $[AMOUNT] per occurrence. Lessor shall be named as additional insured and loss payee.","Setting an insurance floor equal to the equipment's current book value rather than replacement cost. Depreciated book value may not cover the cost of replacing damaged equipment.",{"name":320,"plain_english":321,"sample_language":322,"common_mistake":323},"Permitted use and care","Restricts the lessee to using the equipment for its intended purpose, in compliance with applicable law, and prohibits modifications or subletting without the lessor's written consent.","Lessee shall use the Equipment solely for [PERMITTED USE] in the ordinary course of its business, in compliance with all applicable laws and manufacturer guidelines. Lessee shall not alter, modify, or sublease the Equipment without the prior written consent of Lessor.","No restriction on geographic use or cross-border transport. Equipment moved to a different jurisdiction can affect insurance validity, tax treatment, and the lessor's ability to repossess on default.",{"name":325,"plain_english":326,"sample_language":327,"common_mistake":328},"Default and remedies","Defines what constitutes default by either party, the notice-and-cure period before remedies are triggered, and the lessor's remedies — including repossession, acceleration, and damages.","An Event of Default occurs if Lessee: (a) fails to pay any rent within [X] days of the due date; (b) breaches any material covenant and fails to cure within [X] days after written notice; or (c) becomes insolvent or subject to bankruptcy proceedings. Upon default, Lessor may accelerate all remaining rent, repossess the Equipment, and recover damages.","No cure period for non-payment defaults. A lessee who misses one payment due to a bank error is immediately in uncured default — which can expose the lessor to bad-faith claims if it moves to repossess immediately.",{"name":330,"plain_english":331,"sample_language":332,"common_mistake":333},"End-of-term options","Specifies what happens when the lease expires: return, renewal at a new rent, or purchase at a stated or fair-market price.","Upon expiration of the Lease Term, Lessee shall, at Lessor's election: (a) return the Equipment in the condition required by Section [X]; (b) renew this Lease for [X] months at a rent of $[AMOUNT]; or (c) purchase the Equipment at [fair market value / $FIXED AMOUNT], as determined in accordance with Section [X].","No return condition standard. If the lease only says 'return in good condition,' the parties will dispute normal wear versus damage at every lease end.",{"name":335,"plain_english":336,"sample_language":337,"common_mistake":338},"Indemnification and liability","Requires the lessee to indemnify the lessor against third-party claims arising from the lessee's use, operation, or possession of the equipment.","Lessee shall indemnify, defend, and hold harmless Lessor and its officers, employees, and agents from and against any claims, losses, damages, and expenses (including attorneys' fees) arising from Lessee's use, operation, maintenance, or possession of the Equipment.","Mutual indemnification without carve-outs for gross negligence and willful misconduct. Courts in many jurisdictions refuse to enforce indemnification for a party's own intentional wrongdoing — and a clause that attempts to do so can void the entire indemnity provision.",{"name":340,"plain_english":341,"sample_language":342,"common_mistake":343},"Governing law and dispute resolution","Specifies the jurisdiction whose law governs the agreement and the mechanism for resolving disputes — arbitration, mediation, or litigation in a named court.","This Agreement shall be governed by the laws of the State of [STATE], without regard to conflict-of-law principles. Any dispute arising hereunder shall be resolved by binding arbitration administered by [AAA/JAMS] in [CITY], except that either party may seek injunctive relief in a court of competent jurisdiction.","Choosing governing law without confirming it aligns with where the equipment is physically located. Some states apply local law to equipment-secured transactions regardless of contractual choice.",[345,350,355,360,365,370,375,380],{"step":346,"title":347,"description":348,"tip":349},1,"Identify parties with full legal entity names","Enter the lessor's and lessee's full registered legal names, not trade names or DBAs. Include each party's principal address and state or province of formation.","Confirm the lessee's entity name against a current corporate registry extract before executing — a dissolved entity cannot legally enter a binding lease.",{"step":351,"title":352,"description":353,"tip":354},2,"Complete the equipment description and attach Exhibit A","Record the equipment's make, model, year, serial number, and current condition. If leasing multiple units, list each in a separate numbered Exhibit A row.","Photograph the equipment at delivery and attach the photos as part of the exhibit — this creates an objective condition baseline and prevents end-of-term disputes.",{"step":356,"title":357,"description":358,"tip":359},3,"Set the lease term with a delivery-triggered commencement","State the anticipated start date but tie commencement to a signed delivery receipt so the clock starts only when the lessee physically receives the equipment.","Add a delivery-deadline provision: if the equipment is not delivered within [X] days of the anticipated start date, the lessee may terminate without penalty.",{"step":361,"title":362,"description":363,"tip":364},4,"Define rent, payment schedule, and late-fee terms","Enter the monthly or quarterly base rent, the day of month it is due, accepted payment methods (ACH, wire, check), and the late-payment interest rate.","A 1.5% per month late-payment rate is common and enforceable in most US states — confirm the applicable usury ceiling before inserting a higher figure.",{"step":366,"title":367,"description":368,"tip":369},5,"Specify all net cost obligations explicitly","List each category of cost the lessee bears — property taxes, insurance premiums, routine maintenance, and major repairs — and confirm who is responsible for any uncovered category.","Include a catch-all for 'all other costs of ownership' only if you intend a full triple-net structure; otherwise, enumerate costs specifically to avoid later disputes.",{"step":371,"title":372,"description":373,"tip":374},6,"Set insurance coverage floors and name lessor as additional insured","Insert minimum property insurance equal to the equipment's full replacement cost — not book value — and minimum liability coverage appropriate for the equipment type. Require certificates of insurance before the commencement date.","Ask your insurance broker for the standard coverage floor for your equipment category before completing this section — industry norms vary significantly between light commercial vehicles and heavy industrial machinery.",{"step":376,"title":377,"description":378,"tip":379},7,"Tailor default, cure periods, and remedies","Set a non-payment cure period of 5–10 days and a non-monetary-breach cure period of 30 days. Confirm that the acceleration clause and repossession right are consistent with the governing state's UCC Article 2A requirements.","In Canada and the UK, consumer-protection principles can apply even to commercial equipment leases if the lessee is a small business — consult local counsel before finalizing remedy clauses.",{"step":381,"title":382,"description":383,"tip":384},8,"Document return condition standards","Specify the exact condition the equipment must be returned in — normal wear and tear excepted — and include a checklist or reference to the Exhibit A condition report as the baseline.","Define 'normal wear and tear' by reference to the equipment category (e.g., cosmetic scratches on a vehicle versus structural damage) to reduce interpretation disputes at lease end.",[386,390,394,398,402,406],{"mistake":387,"why_it_matters":388,"fix":389},"No serial number in the equipment description","Without a unique identifier, the lessor cannot prove which specific asset is covered by the lease. Substituted or damaged equipment becomes impossible to distinguish contractually.","Always record the full serial number, VIN, or asset tag in the equipment description and on Exhibit A. Re-confirm the number at delivery against the physical asset.",{"mistake":391,"why_it_matters":392,"fix":393},"Commencement date set as a fixed calendar date regardless of delivery","If equipment is delivered late, the lessee pays rent for a period when the asset is not available — creating a breach-of-quiet-enjoyment claim in some jurisdictions.","Tie commencement to a signed delivery receipt and include a delivery-deadline clause that allows the lessee to terminate or suspend rent if delivery is materially delayed.",{"mistake":395,"why_it_matters":396,"fix":397},"Insurance floor set at depreciated book value","If the equipment is a total loss, the insurance payout covers the depreciated value — which may be far less than the cost to replace the asset, leaving the lessor with an unrecovered gap.","Set the all-risk property insurance minimum at the equipment's full replacement cost, updated annually, and require the lessee to provide certificates of insurance before commencement.",{"mistake":399,"why_it_matters":400,"fix":401},"Vague maintenance obligation with no scope definition","Without a defined scope, lessees argue that major overhauls are the lessor's responsibility while lessors argue the opposite — disputes routinely end in litigation or early termination.","Enumerate maintenance obligations by category: manufacturer-recommended service intervals, consumable replacements, and specific major-repair thresholds above which a separate approval process applies.",{"mistake":403,"why_it_matters":404,"fix":405},"No cure period for the first missed payment","Immediate acceleration and repossession on a single missed payment creates disproportionate consequences for a lessee experiencing a bank processing delay — and exposes the lessor to bad-faith or unconscionability claims.","Build in a 5–10 day cure period for payment defaults and a 30-day cure period for non-monetary breaches, consistent with UCC Article 2A and comparable statutory frameworks.",{"mistake":407,"why_it_matters":408,"fix":409},"Governing law chosen without regard to equipment location","Several states and provinces apply local law to equipment-secured transactions — including repossession rights and lessee protections — regardless of what the contract specifies.","Select governing law that is consistent with the equipment's primary location and confirm with local counsel that the chosen law does not conflict with mandatory local rules on leased personal property.",[411,414,417,420,423,426,429,432,435],{"question":412,"answer":413},"What is a net equipment lease?","A net equipment lease is a leasing arrangement in which the lessee pays base rent plus some or all of the operating costs associated with the equipment — typically property taxes, insurance premiums, and maintenance expenses. The 'net' structure shifts the financial burden of ownership costs from the lessor to the lessee, giving the lessor a predictable, expense-free rent stream. Depending on how many cost categories the lessee bears, the arrangement may be called a single-net, double-net, or triple-net equipment lease.\n",{"question":415,"answer":416},"What is the difference between a net lease and a gross lease for equipment?","Under a gross equipment lease, the lessor pays all operating costs — insurance, taxes, and maintenance — and charges the lessee a single all-inclusive rent that covers those expenses. Under a net lease, the lessee pays base rent separately and is directly responsible for some or all operating costs. Net leases are typically favored by lessors who want predictable income without exposure to variable maintenance and tax costs; lessees accept net obligations in exchange for a lower base rent.\n",{"question":418,"answer":419},"What equipment is typically leased under a net equipment lease?","Net equipment leases are most common for high-value, long-lived assets where maintenance costs are significant and predictable — construction machinery, commercial vehicles, manufacturing equipment, medical imaging devices, printing presses, and large-format technology hardware. The structure is less common for short-lived or low-value items where the administrative cost of separating net expenses exceeds the benefit.\n",{"question":421,"answer":422},"Who is responsible for maintenance under a net equipment lease?","Under a net equipment lease, the lessee is typically responsible for all maintenance and repairs — both routine servicing and major overhauls — unless the agreement specifically carves out major repairs as the lessor's obligation. The scope of maintenance responsibility should be explicitly defined in the agreement; vague language like 'keep in good repair' frequently leads to disputes when a significant component fails.\n",{"question":424,"answer":425},"What happens at the end of a net equipment lease?","Most net equipment leases include one of three end-of-term options: return the equipment in the condition specified by the agreement, renew the lease for an additional term at a renegotiated rent, or purchase the equipment at a pre-agreed price or at fair market value. The agreement should define the return condition standard precisely — failure to do so commonly results in disputes over whether damage exceeds normal wear and tear.\n",{"question":427,"answer":428},"Is a net equipment lease the same as a finance lease?","Not necessarily. A finance lease (also called a capital lease under US GAAP) is an accounting classification indicating that substantially all risks and rewards of ownership have transferred to the lessee — typically because the lease covers most of the asset's useful life or includes a bargain purchase option. A net lease is a cost-allocation structure. The two concepts can overlap — a lease can be both a net lease and a finance lease — but they describe different characteristics of the arrangement.\n",{"question":430,"answer":431},"Does a net equipment lease need to be in writing?","In most jurisdictions, a lease of personal property for a term exceeding one year must be in writing to be enforceable under the Statute of Frauds or its equivalent. For equipment with significant value, a written agreement is essential regardless of term length — it documents the equipment description, rent, net obligations, and remedies that oral arrangements leave dangerously ambiguous. A signed written lease is also required to perfect the lessor's interest in many jurisdictions.\n",{"question":433,"answer":434},"What UCC provisions apply to an equipment lease in the United States?","In the United States, equipment leases are governed by UCC Article 2A (Leases of Goods), which establishes default rules for lease formation, implied warranties, lessee rights on default, and lessor remedies including repossession and acceleration. Article 2A allows the parties to modify most default rules by contract, but some lessee protections — such as the right to cure a payment default — are more difficult to waive entirely. A well-drafted net equipment lease should expressly address Article 2A provisions rather than relying on statutory defaults.\n",{"question":436,"answer":437},"Do I need a lawyer to draft a net equipment lease?","For standard equipment leases between commercial parties of similar sophistication, a high-quality template reviewed by counsel is typically sufficient. Engage a lawyer when the equipment value exceeds $250,000, when the lease involves cross-border use, when the lessee's financial condition requires enhanced default protections, or when the arrangement includes a purchase option that triggers capital-lease accounting treatment. A focused 1–2 hour legal review of a completed template typically costs $300–$600 and is worthwhile for any long-term or high-value lease.\n",[439,443,447,451],{"industry":440,"icon_asset_id":441,"specifics":442},"Construction and Heavy Equipment","industry-construction","Net leases for cranes, excavators, and lifting equipment where the lessee bears all service, fuel-system maintenance, and inspection costs tied to project-site use.",{"industry":444,"icon_asset_id":445,"specifics":446},"Healthcare and Medical Devices","industry-healthtech","Diagnostic imaging and surgical equipment leased on a net basis with lessee-funded manufacturer service contracts and radiation-safety compliance obligations.",{"industry":448,"icon_asset_id":449,"specifics":450},"Manufacturing","industry-manufacturing","CNC machinery, presses, and production-line equipment leased long-term with lessee responsibility for scheduled preventive maintenance, tooling, and calibration costs.",{"industry":452,"icon_asset_id":453,"specifics":454},"Transportation and Logistics","industry-logistics","Commercial vehicle and trailer fleets leased net with lessee-borne fuel, DOT compliance inspections, and driver-caused repair costs separate from base fleet rent.",[456,459,462,465],{"vs":243,"vs_template_id":457,"summary":458},"equipment-rental-agreement-D1150","An equipment rental agreement is typically short-term — days to weeks — with the owner bearing maintenance and insurance costs and pricing those into a higher daily or weekly rate. A net equipment lease runs for months or years, transfers operating cost obligations to the lessee, and sets a lower base rent that excludes those costs. Use a rental agreement for one-off or project-based needs; use a net lease for ongoing operational equipment.",{"vs":239,"vs_template_id":460,"summary":461},"equipment-lease-to-own-agreement-D1146","A lease-to-own agreement is structured so the lessee's rent payments build toward ownership, with a defined purchase option — often at $1 or a nominal amount — at the end of the term. A standard net equipment lease may include a purchase option at fair market value, but ownership transfer is not the primary purpose. Choose lease-to-own when the lessee intends to keep the equipment; choose a net lease when the lessor intends to recover the asset.",{"vs":106,"vs_template_id":463,"summary":464},"vehicle-lease-agreement-D1160","A vehicle lease agreement is tailored for cars, trucks, and commercial vehicles and includes provisions specific to motor vehicle law — registration, mileage limits, and consumer-protection disclosures. A net equipment lease is a broader instrument designed for any category of business equipment. Use a vehicle-specific lease when the asset is a motor vehicle subject to DMV or transport-authority regulation.",{"vs":466,"vs_template_id":467,"summary":468},"Personal Property Lease Agreement","D{PERSONAL_PROPERTY_LEASE_ID}","A personal property lease covers the broadest range of movable assets and is often used for lower-value or consumer-facing items. A net equipment lease is a commercial document specifically structured for business equipment with net cost-shifting provisions, indemnification, and commercial-grade default and remedy clauses. Use a net equipment lease for any business-to-business equipment arrangement where cost allocation and remedies need to be precisely defined.",{"use_template":470,"template_plus_review":474,"custom_drafted":478},{"best_for":471,"cost":472,"time":473},"Commercial equipment leases between businesses for equipment valued under $100,000 in a single domestic jurisdiction","Free","30–45 minutes",{"best_for":475,"cost":476,"time":477},"Equipment valued $100,000–$500,000, cross-state use, or leases with purchase options that may trigger capital-lease accounting","$300–$700","1–3 days",{"best_for":479,"cost":480,"time":481},"High-value industrial or medical equipment above $500,000, multi-jurisdiction or cross-border leases, or structured finance arrangements with lender involvement","$1,500–$5,000+","1–3 weeks",[483,488,493,498],{"code":484,"name":485,"flag_asset_id":486,"note":487},"us","United States","flag-us","Equipment leases in the US are governed primarily by UCC Article 2A, which distinguishes true leases from disguised security interests — the latter require UCC Article 9 filing to perfect the lessor's interest. Net obligations for property taxes vary by state; some states assess personal property taxes on leased equipment and require the lessee to file returns directly. Non-compete and governing-law clauses should be reviewed against the law of the state where the equipment is physically located.",{"code":489,"name":490,"flag_asset_id":491,"note":492},"ca","Canada","flag-ca","Canadian equipment leases are governed by provincial personal property security legislation (PPSA) in common-law provinces, with Quebec governed by the Civil Code under the rules of leasing (louage). Lessors should register their interest under the applicable PPSA registry to protect against the lessee's insolvency or competing creditors. GST/HST applies to lease payments and must be addressed in the rent clause. Quebec leases must be in French for provincially regulated entities.",{"code":494,"name":495,"flag_asset_id":496,"note":497},"uk","United Kingdom","flag-uk","UK equipment leases are governed by the Supply of Goods and Services Act 1982 and, for consumer-adjacent transactions, the Consumer Rights Act 2015. Lessors should register a financing statement at Companies House under the Companies Act 2006 if the lessor is taking a charge. VAT at the standard rate applies to lease payments and must be specified in the agreement. Post-Brexit, EU financial leasing regulations no longer apply, but cross-border leases into the EU require individual member-state analysis.",{"code":499,"name":500,"flag_asset_id":501,"note":502},"eu","European Union","flag-eu","EU member states each have their own personal property security and leasing laws — Germany, France, and the Netherlands have materially different registration and priority rules for leased equipment. VAT treatment of finance versus operating leases varies by member state and affects the lessee's input tax recovery. GDPR considerations arise if the lease involves telematics or remote monitoring of equipment that collects operational or location data. Cross-border EU leases should specify which member state's law governs and confirm that law is compatible with mandatory local rules.",[244,240,247,504,505,506,507,508,509,510,511,512],"bill-of-sale-D1229","purchase-order-D1411","building-maintenance-agreement-D13817","lease-agreement-D1179","non-disclosure-agreement-nda-D12692","indemnification-agreement-D1180","personal-guarantee-D405","promissory-note-D434","service-agreement-D12711",{"emit_how_to":196,"emit_defined_term":196},{"primary_folder":114,"secondary_folder":515,"document_type":516,"industry":517,"business_stage":518,"tags":519,"confidence":524},"real-estate-and-leases","agreement","general","all-stages",[520,521,522,523],"contract","equipment-lease","lease-agreement","net-lease",0.95,"\u003Ch2>What is a Net Equipment Lease?\u003C/h2>\n\u003Cp>A \u003Cstrong>Net Equipment Lease\u003C/strong> is a legally binding commercial agreement in which a lessor grants a lessee the right to possess and use specific equipment for a defined term in exchange for periodic rent payments, with the lessee contractually responsible for some or all of the operating costs of the equipment during that term — including property taxes assessed on the asset, insurance premiums, and maintenance and repair expenses. Unlike a gross lease where the lessor absorbs those costs and prices them into a higher rent, a net lease separates base rent from operating costs, giving the lessor a predictable, expense-free income stream while the lessee bears the financial risk of variable ownership expenses. The "net" designation refers to the number of cost categories shifted to the lessee: single-net (taxes), double-net (taxes and insurance), or triple-net (taxes, insurance, and maintenance). This template is drafted as a standard commercial net lease suitable for machinery, vehicles, technology hardware, and industrial equipment, and is available as a free Word download you can edit online and export as a signed PDF.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Operating without a written net equipment lease exposes both parties to significant financial and legal risk. A lessor without a signed agreement has no contractual basis to accelerate rent on default, repossess the equipment, or recover the cost of damage the lessee caused — courts require a written instrument to enforce those remedies. A lessee without clear written terms has no protection against mid-lease rent increases, conflicting maintenance demands, or surprise charges at lease end. The net cost obligations — who pays taxes, who maintains the equipment, what insurance floor applies — are the provisions that generate the most disputes when left undefined or ambiguous. This template provides a complete, professionally structured agreement that defines every material term before the equipment changes hands, reducing the likelihood of costly disputes and giving both parties a clear framework from commencement through return or purchase at the end of the lease term.\u003C/p>\n",1779480590561]