Equipment Loan Document

An equipment loan document is a formal document or agreement which is formed between two parties, out of which one is the lender and the other is the borrower. The lender puts out an equipment on loan and the borrower agrees to loan the equipment on the basis of certain legally binding terms and conditions. These loan documents are used in the case when an individual uses an equipment on loan for a certain fixed period of time. Given below is a sample of an equipment loan document which can be used by anyone for the purpose of reference.

Sample Equipment Loan Document:

This equipment loan arrangement has been made effective as on 23rd June 2012 and shall remain into effect for 6 months. According to this equipment loan document, the lender/owner of the photocopy machine agrees to loan this machine to the borrower.

Length of equipment loan: 6 months

Termination date of loan arrangement: 23rd Dec 2012

The details of the parties are given as follows

Lender details:

Name: Kell Peters

Address: D/90, first floor, Henry square, London

Contact number: 4029472440

Borrower details:

Name: Mathew James

Address: 4/H, Second floor, Jack tower, London

Contact number: 4224890240

The following are the details of the equipment:

Type: photocopy machine

Model: Canon 4/K#

Color: white

The following are the various terms and conditions of the equipment loan:

  • The lender agrees to loan the photocopy machine to the borrower for a period of 6 months on the condition that the machine should be returned on or before the termination date of the arrangement.
  • The borrower must take care of the repair, servicing and maintenance of the machine for the entire duration of the loan arrangement.
  • The lender is entitled to inspect the machineĀ  by giving a prior informative call to the borrower.
  • The borrower shall be charged for the machine if any irreparable damage is caused to the machine.

Signatures:

Kell peters

Mathew James


Posted in Loan Documents