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 Equipment Lease is intended to be used in the Province of Saskatchewan, Canada.
Last Updated: 30-October-2018