Parties to the agreement

[sadiksojib35]

An equipment lease agreement involves two parties: one provides the equipment and the other leases it.

Lessor - a company or individual entrepreneur who provides equipment for rent.

The lessee is another company or individual entrepreneur who takes this equipment for a period of time and uses it under a contract.

The contract should include the tax identification number, legal addresses, bank details of both parties and contact information so that they can quickly contact each other.

When a contract is signed by a representative under a power of belgium whatsapp phone number attorney, check whether the power of attorney has expired and whether the representative has the authority to sign the contract, transfer or accept the equipment. This will help avoid unpleasant situations due to invalid or insufficient authority of the representative.



Subject of the agreement
The subject of an equipment lease agreement is the equipment that the lessor provides to the lessee for temporary use. This can be anything from construction equipment to office computers and production machines.

When drawing up a contract, it is important to describe the equipment and quantity in detail :

name and model;
main characteristics: power, volume, performance;
complete set and condition at the time of transfer.
Please remember to include the part numbers and serial numbers to avoid disputes about the identity of the equipment.

If the contract does not specify the identification data of the equipment, such a contract is considered not concluded. This means that from a legal point of view, the contract does not exist. As a result, the lessor has no right to demand payment for rent, since formally the contract has not been concluded. Also, the lessee does not have the right to use the equipment legally.

For the contract to be legally binding, the subject of the lease must be described, including identification data.

On the topic. What points to change in a franchise agreement - a view from inside the market