This Machinery Lease Agreement template is designed for use in New Zealand when one party wishes to lease machinery or equipment to another party for commercial purposes. It is particularly relevant for businesses seeking to acquire machinery without the capital expenditure of purchasing, or for equipment owners looking to generate revenue through leasing. The agreement encompasses all essential elements required under New Zealand law, including compliance with the Contract and Commercial Law Act 2017 and Health and Safety at Work Act 2015. It provides comprehensive coverage of equipment specifications, maintenance requirements, operator responsibilities, insurance obligations, and risk allocation. This template is suitable for both short-term and long-term leasing arrangements and can be customized based on the specific type of machinery and industry requirements.
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1. Parties: Identification of lessor and lessee with full legal names and details
2. Background: Context of the lease arrangement and general purpose
3. Definitions: Key terms used throughout the agreement including 'Equipment', 'Lease Term', 'Rent', etc.
4. Equipment Description: Detailed description of the machinery being leased including make, model, serial numbers, and condition
5. Lease Term and Renewal: Duration of lease, commencement date, and renewal options
6. Rent and Payment Terms: Payment amounts, frequency, method, and late payment consequences
7. Delivery and Return: Arrangements for delivery, installation, and return of equipment
8. Use and Operation: Permitted use, operator requirements, and operational restrictions
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and scheduled servicing
10. Insurance Requirements: Required insurance coverage and claim procedures
11. Risk and Liability: Risk allocation, indemnities, and limitation of liability
12. Termination: Grounds for termination and consequences
13. General Provisions: Standard boilerplate clauses including governing law, notices, and assignment
1. Training Requirements: Include when machinery requires specific operator training or certification
2. Import/Export Compliance: Include for machinery subject to import/export regulations
3. Environmental Compliance: Include for machinery with environmental impact considerations
4. Purchase Option: Include if lessee has option to purchase machinery at end of lease
5. Sub-leasing Rights: Include if sub-leasing is to be permitted
6. Intellectual Property: Include if machinery involves software or proprietary technology
7. Force Majeure: Include for longer-term leases or high-value machinery
1. Schedule 1 - Equipment Specifications: Detailed technical specifications and photographs of machinery
2. Schedule 2 - Rent Schedule: Detailed breakdown of rental payments and payment dates
3. Schedule 3 - Maintenance Schedule: Required maintenance intervals and procedures
4. Schedule 4 - Condition Report: Initial condition report with photographs
5. Schedule 5 - Operating Manual: Safety procedures and operating instructions
6. Schedule 6 - Insurance Requirements: Detailed insurance specifications and minimum coverage
7. Appendix A - Operator Certification Requirements: Required certifications and qualifications for operators
8. Appendix B - Return Conditions: Required condition upon return of machinery
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