Generate a comprehensive equipment lease agreement covering lease terms, rent payments, maintenance responsibilities, insurance requirements, default remedies, and end-of-term purchase options. Customizable for construction machinery, vehicles, medical devices, IT hardware, and all business equipment.
I built this equipment lease agreement generator to help businesses and equipment owners create professional, legally sound lease documents without expensive attorney fees. Whether you are leasing construction machinery, manufacturing equipment, commercial vehicles, medical devices, IT hardware, or agricultural equipment, this generator produces a comprehensive agreement that protects both the lessor and lessee with clearly defined rights and obligations.
The generated agreement covers every essential element of a commercial equipment lease: detailed equipment identification including make, model, serial number, and condition; lease term with start and end dates; monthly rent payment amounts, due dates, and late fee provisions; security deposit terms; delivery and acceptance procedures; maintenance and repair responsibilities with flexible allocation options; comprehensive insurance requirements; risk of loss allocation; use restrictions and modification prohibitions; clear title and ownership provisions; detailed default events and remedies; end-of-term options including return, purchase, and renewal; mutual indemnification; and governing law and dispute resolution clauses.
Every field updates the live preview instantly, so you can see exactly how your agreement will look before downloading. The generator supports multiple equipment types, flexible maintenance responsibility allocation, various insurance configurations, and multiple purchase option structures including $1 buyout, fair market value, fixed price, and percentage-based options. The resulting document produces 2,500 to 3,000 words of properly formatted legal content suitable for commercial use.
Key features include: conditional sections that adapt based on your selections, dynamic section numbering, comprehensive boilerplate provisions, dual signature blocks with title lines, and optional personal guarantee provisions. The AI assistant can answer questions about equipment leasing law, help you understand specific clauses, and suggest appropriate terms for your situation.
An equipment lease agreement is a legally binding contract between an equipment owner (lessor) and a renter (lessee) that grants the lessee the right to use specific equipment for an agreed-upon period in exchange for regular payments. It covers equipment description, lease term, payment schedule, maintenance responsibilities, insurance, and end-of-term options.
An equipment lease typically involves a longer-term commitment with fixed monthly payments, defined maintenance responsibilities, and potential purchase options. Equipment rentals are generally shorter-term arrangements with more flexibility but often higher per-unit costs. Leases frequently include purchase options, while rentals rarely do.
Maintenance responsibility depends on the terms negotiated between the parties. In most leases, the lessee handles routine maintenance and minor repairs, while the lessor may cover major repairs. Some leases place all maintenance on the lessee, while full-service leases include maintenance in the monthly payment.
Most equipment lease agreements require the lessee to maintain comprehensive insurance coverage including property damage, theft, and liability coverage. The lessor is typically named as a loss payee and additional insured. Coverage minimums are usually set at or above the fair market value of the equipment.
At the end of a lease, the lessee typically has three options: return the equipment in good condition, purchase the equipment at a predetermined price ($1 buyout, fair market value, or fixed price), or renew the lease for an additional term. The lessee must exercise these options within the notice period specified in the agreement.
Most equipment lease agreements prohibit subleasing, assigning, or transferring the equipment without the lessor's prior written consent. Even when permitted, the original lessee typically remains fully liable. Unauthorized transfer is usually considered an event of default.