Subsequently, the contract must be registered with the Equipment Leasing Registration Authority no later than 14 days after the start of the lease. The registrar issues a registration certificate at the end of the registration process. An equipment lease agreement is an agreement in which the owner of the equipment allows the user to use the equipment against a regular lease payment. The owner of the equipment is the owner, the user is the tenant. Equipment that can be rented includes all physical objects such as vehicles, machinery and other physical characteristics, with the exception of buildings. Financing leases are long-term leases. In this type of rental, the taker is usually responsible for the maintenance and insurance of the equipment and, if necessary, the payment of all taxes. This type of leasing is generally used by companies that intend to use expensive capital over a long period of time. For this type of rental, the lessor gives the lessor the opportunity to acquire at the end of the rental period and transfers ownership of the equipment to the taker when the taker exercises this option. As a general rule, device leasing is used for the following reasons: This document can be used for operational leasing and long-term or financial leasing. Corporate leasing is a short-term lease agreement in which the lessor generally bears all the risks of the contract, such as insurance, repairs, maintenance, etc. This type of leasing is generally accepted by parties who need the equipment for a short period of time. For example, the equipment used for this type of rental is office equipment (for example.
B computers, office furniture, etc.), vehicles, etc. Other names for the document: Commercial Equipment Lease Agreement, Equipment Lease Agreement with an Option to Purchase, Heavy Equipment Lease Agreement, Business Equipment Lease Agreement, Finance Lease Agreement.