Equipment Maintenance Agreement | Canada

Set up a joint venture to rent equipment with this downloadable Equipment Rental Joint Venture Agreement for Canada.

• The joint venture will purchase equipment which will be rented to customers.
• One of the parties will act as the manager of the joint venture's business.
• The managing co-venturer is accountable to the other co-venturers for the management of the joint venture.
• The remaining co-venturers have a right of first refusal to purchase the interest of a departing co-venturer.
• Provisions for remedies upon the default of any co-venturer.
• Provisions for winding up the joint venture.
• This legal agreement template is available as a fully editable MS Word document.
• Intended for use only in Canada.

Prepare a Net Equipment Lease Agreement for Canada with this ready-made template.

This Net Equipment Lease Agreement serves as a comprehensive template for leasing equipment in Canada. It is applicable in most provinces and territories, with the exception of Quebec, where a different form may be required.

The template is provided as a fully editable MS Word document, allowing customization to suit specific requirements.

Lessee Obligations

The customer (lessee) is responsible for maintaining all warranties, guarantees, and insurance related to the rental items for the duration of the lease period. These obligations ensure the equipment remains protected and in good working order.

Ownership of Equipment

Throughout the lease term, ownership of the equipment remains with the supplier (lessor). The transfer of ownership does not occur until the lease has concluded, meaning that the lessor retains legal rights over the equipment until all payments have been made by the lessee.

Indemnity

The lessee agrees to indemnify the lessor against any loss or damage that may occur in connection with the leased equipment. This indemnification obligation remains effective even after the termination of the lease, providing continued protection for the lessor.

Rent Payment During Equipment Down-Time

There will be no reduction or abatement of rent during any period when the equipment is not operational or experiences down-time. Rent payments are required to continue as specified in the lease agreement, regardless of equipment status.

This Small Equipment Rental Agreement for Canada can be used to rent a variety of equipment, appliances and furniture by the day, week or month.

• Provisions include:
  • the proper and allowed methods of use;
  • no warranties given by the supplier;
  • security deposit and late charges;
  • pick-up and return of rental items;
  • reservations and cancellations;
  • loss or damage;
  • the customer is responsible for any additional insurance;
  • the customer indemnifies the owner against claims or damages.
• Available as a downloadable MS Word template.
• Intended to be used only in Canada.