Contract outlining terms of equipment rental between a lessor and lessee.
The agreement covers the responsibilities related to the maintenance and repair of the equipment, ensuring that the hirer is protected against undue wear and tear during the rental period. It often includes provisions for insurance and liability, emphasizing who is responsible for accidents or damage occurring during the hire term.
Moreover, an Equipment Hire Agreement can specify conditions for terminating the agreement early, penalties for late returns, or additional charges for extending the hire period. It serves to protect both parties by setting clear expectations and minimizing potential disputes.
An Equipment Hire Agreement is designed for businesses or individuals who rent out equipment to other parties. It ensures that the hirer and the owner are clear about the terms and conditions of the hire, including duration, costs, and responsibilities.
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