Small business owners should always be vigilant about putting their business agreements in writing to assure that the parties involved understand the legally enforceable obligations that they are agreeing to. And such vigilance is never more important than when a small business owner is entering into an agreement to lease equipment.
Equipment can be expensive and specialized, therefore it makes sound business sense for small business owners to rent much of the equipment they need instead of purchasing it outright. However, leasing equipment can carry with it difficulties and scenarios that can cause problems if left to oral agreements and arrangements. Therefore, because many businesses depend on some sort of equipment to create their products, reach their customers, or execute sales, the necessity for well drafted equiment leases and agreements should not be overlooked. Since this equipment is essential to a company's ability to carry out its daily activities, it's important to establish agreements with clear, fair terms that benefit and protect both parties.
Find sample documents and information you can use to create successful equipment leases and agreements here.