Saskatchewan Equipment Lease with Purchase Option
Do you lease equipment or machinery in Saskatchewan? Prepare your customer contracts with this comprehensive Equipment Lease with Purchase Option
- The customer has an option to purchase the equipment after a minimum number of months under the Lease.
- The customer authorizes the leasing company and the bank to debit the customer's accounts for the monthly payments and any other charges due under the lease.
- Provision for late fees, dishonoured cheque fees, interest on late payments, and administration fees.
- The equipment remains the property of the leasing company throughout the term of the lease.
- The customer bears the entire risk of loss or damage to the equipment while it is under the customer's control.
- The lease is a net lease to the leasing company, and the customer is responsible for paying all costs, expenses and taxes on the equipment (other than the leasing company's income taxes).
- The leasing company gives no warranties. All warranties of the manufacturer or supplier are transferred to the customer.
- The customer must be in good standing under the lease in order to exercise its option to purchase the equipment.
This Saskatchewan Equipment Lease with Purchase Option
is in MS Word format and is fully editable.
Last Updated: 14-Apr-2016