Equipment Rental Agreement Details
Check to Show Hints for Completing this Form

This software has the flexibility to let you quickly create the Equipment Rental Agreement you want. It does this by providing many options with appropriate defaults.

If you want to fill in a particular item after you have printed the document, you can enter underscore characters (ie. _____).

Lessor Information

The Lessor is the party that owns the Equipment. The Lessor rents the Equipment to the Lessee.

Number of Lessors:
Lessee Information

The Lessee is the party that rents the Equipment from the Lessor.

Number of Lessees:

Name and describe the Equipment being rented and indicate its approximate cash value.

(e.g., new or used, year, make, model, serial number, color, other identifying characteristics.)

Lease Term
Type of Lease Term:
Date Lease Starts: (e.g. 2016)
Lessee will pay rent:

Damage Deposit?  
Amount: (e.g. 100.00, 500.00, etc.)
Equipment will be delivered by:
Use of Equipment

Restrictions on Use of Equipment:
Repair of Equipment

Lessee will maintain and repair Equipment:  


Loss and Damage to Equipment

Lessee is responsible for loss or damage to Equipment?  

If Equipment is totally lost or damaged beyond repair, Lessee will:
Return of Equipment

When lease ends:  

Insurance is likely not required if the Equipment is inexpensive or the rental is for a short period of time. Generally, a lessee will obtain insurance when renting expensive Equipment for longer periods of time or when legislation requires an operator of Equipment to have insurance.

Lessee will obtain insurance for loss of or damage to Equipment?

Lessee will obtain insurance for public liability and property damage?
Amount: (e.g. 100.00 or 25,000.00, etc.)

Lessee will pay taxes and fees levied against Equipment?  
(e.g. Lessee will pay taxes such as property taxes or license fees. There is no need to specify sales tax.)

Which Taxes and Fees will be paid by the Lessee?
Usually Lessee will pay all taxes and fees only if Equipment is rented for a long
     time (e.g. for more than a year), and if Equipment is expensive.

Describe taxes or fees Lessee will pay.

Default Period

Grace period for failure to pay rent?  
Number of days:

Lessee is prohibited from assigning lease?  

Lessor is prohibited from assigning lease?  

Lessee can renew Lease:
Number of days notice required to renew:
Details for option to renew:

How many additional clauses do you want to create?
First Clause:
Second Clause:
Third Clause:

Specify interest rate?

Per Annum rate of interest on overdue payments?   (e.g. 5, 10, etc.)
Governing Law

The Laws of which Province/Territory will govern this Agreement?

Agreements are usually governed by the law of the province or territory in which they are made or where the Equipment will be used. If you are unsure of which jurisdiction to choose, a good default choice is the province or territory in which the Lessee lives.
Lease Format

Lease Format  

The Long Version of the Lease includes additional clauses and terms that will make your lease more precise, able to deal with more situations and easier to enforce. The Short Version omits those terms that are not absolutely necessary to express your terms.
Information for Lessee

What is the current cash value of the Equipment?

Describe the nature and amount of any value other than Rent that the Lessee must pay, such as fees or administration charges, as well as any property that the Lessee may have traded for the Equipment:

What is the total cost of the Lease, including all Rent, charges, fees and property that will be given by the Lessee to the Lessor over the entire Agreement?

(e.g., if Equipment is rented on a month-to-month basis for $500 per month and there is a $200 administration fee, indicate that the cost is $500 per month for as long as the Lease continues plus a one-time $200 administration fee.)
Signing Details
When will this Agreement be signed?
Date Agreement to be Signed?   (e.g. 2016)