Heavy Equipment Lease Agreement Philippines

2. TERM: This rental period is valid for ONE (1) YEAR. (date) included. At the expiry of this lease, this lease may be renewed under terms agreed by both parties, the written letter of intent to renew the lease is served on LESSOR no later than seven (7) days before the expiry of the deadline set here. 1. EQUIPMENT LESSOR RENTS THE FOLLOWING EQUIPMENT AT LESSEE: 11. MAINTENANCE, OPERATION AND REPAIRS THE TENANT DECLARES THAT HE OR HIS EMPLOYEES UNDERSTAND THE OPERATION OF THE DEVICES. The ESEA must not remove, modify, disfigure or conceal the numbers, inscriptions or badges visible on the device, and ensure that the device is not used recklessly or unnecessarily rudely, and must, at its own expense, maintain the equipment and its properties in good condition and operate and ultimately return them to LESSOR. Without limiting the universality of the above, the LESEE bears, at its own expense of LAEE, for the duration of this lease, the costs of: 10. EXPIRATION OF LEASE: At the expiry of the term of this lease or its termination, as is expected, the LESSEE is required to lease to LESSOR the premises rented with all the appropriate keys and in a condition as good and durable as today. , mobile furniture, objects and effects of any kind.

The non-compliance with the provisions of this clause by LESSEE gives LESSOR the right to refuse the acceptance of the premises after its election and to compel LESSEE to pay the rent at the same rate plus twenty-five (25) % including a penalty until the LESSEE has complied with the above conditions. The same penalty is imposed if the LESSEE does not leave the premises at the expiry of this lease or termination agreement for any reason. PandaTip: Use this section to enter specific information about devices to read. It is recommended that you always include a detailed description of the equipment and all the accessories available to the customer. Often, companies do not have enough money to buy large machines or complex equipment that can cost millions or billions of dollars. That`s why these companies choose to provide the equipment they need for as long as they need it.