Assignment of Equipment Lease

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Assignment of Equipment Lease

The assignment of equipment lease is formed when the lender of the equipment enters into a contract with the borrower. The agreement contains the rights and responsibilities assigned by the assignor/lender of the equipment to the assignee/borrower of the equipment for a specified period of time.

Procedure for Assignment of Equipment Lease ?

Benefits of Assignment of Equipment Lease

There are a plenty of benefits of equipment leasing assignment. Some of them includes:
low monthly payments, elimination of obsolescence, tax benefits, simplified accounting, hidden costs, maintaining a competitive edge, and leasing adds up to good business.

Provisions of Assignment of Equipment Lease

  • Assignment of Rights
  • Assumption of Obligations
  • Security Deposit
  • Indemnification
  • Binding Effect of the Agreement
  • Notice
  • Waiver

Frequently Asked Questions

1. How does leasing of equipment add up to good business?
A good leasing agreement helps in getting the equipment without any risk and financial pressures. It helps in many ways like:
It minimizes the demands on cash flow, eliminates investing in obsolescence and keeps the bank credit lines open.
2. Who is responsible in case of any damage caused to the equipment during the lease period?
The lessee is solely responsible for any damage caused by him to the equipment and has to pay the market value of the damaged equipment, the same applies in case of loss/theft of the equipment.

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