Business OS
Legal AgreementsIndemnity & Compensation

Equipment Use Agreement

This Equipment Use Agreement template outlines the terms and conditions for the temporary use of equipment by an individual or entity, ensuring proper care, responsibility, and indemnity for the equipment owner. It is used when lending out equipment and wanting to ensure its safe return and cover potential liabilities.

Updated 15d ago
equipmentagreementuseloanindemnityassetrentalpossession

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Equipment Use Agreement

This Equipment Use Agreement (hereinafter “Agreement”) is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

{{owner_company_name}}, a company organized and existing under the laws of {{country}}, with its principal place of business at {{owner_company_address}} (hereinafter “Owner”), and

{{user_company_name}} (or {{user_individual_name}}), a company organized and existing under the laws of {{country}} (or an individual residing at {{user_address}}), with its principal place of business at {{user_company_address}} (hereinafter “User”).

1. Description of Equipment

The Owner hereby agrees to allow the User to use the following equipment (hereinafter “Equipment”):

{{equipment_name}}

{{equipment_model}}

{{equipment_serial_number}}

{{equipment_description}}

The Equipment is provided to the User in good working condition, and the User acknowledges receipt of the Equipment in such condition.

2. Term of Agreement

The term of this Agreement shall commence on {{start_date}} and shall continue until {{end_date}}, unless terminated earlier in accordance with the provisions of this Agreement.

3. Purpose of Use

The User agrees to use the Equipment solely for the purpose of {{purpose_of_use}} and for no other purpose without the prior written consent of the Owner.

4. User's Responsibilities

The User shall be responsible for the proper operation, maintenance, and care of the Equipment during the term of this Agreement. The User agrees to:

a) Use the Equipment in a careful and proper manner and comply with all applicable laws, regulations, and manufacturer’s instructions.

b) Keep the Equipment free from all liens and encumbrances.

c) Not make any alterations or modifications to the Equipment without the prior written consent of the Owner.

d) Notify the Owner immediately of any loss, damage, or defect in the Equipment.

e) Return the Equipment to the Owner in the same condition as when received, reasonable wear and tear excepted.

5. Indemnification

The User shall indemnify, defend, and hold harmless the Owner from and against any and all claims, demands, losses, liabilities, costs, and expenses (including legal fees) arising out of or in connection with the User’s possession, use, or misuse of the Equipment, including but not limited to, personal injury, death, or property damage.

6. Insurance

The User shall, at their own expense, maintain adequate insurance coverage for the Equipment against loss, theft, damage, and liability, with the Owner named as an additional insured. Evidence of such insurance shall be provided to the Owner upon request.

7. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{country_of_governing_law}}.

8. Entire Agreement

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.

Signature Block

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

___________________________ ___________________________

Owner Signature User Signature

{{owner_printed_name}} {{user_printed_name}}

{{owner_title}} {{user_title}}

___________________________

Date

Related templates