A Hire Agreement is essential when businesses or individuals need to temporarily use equipment or goods without purchasing them outright. This contract type, governed by Singapore law, establishes clear terms for the hiring arrangement, including duration, payment terms, maintenance responsibilities, and liability provisions. It protects both the owner's property interests and the hirer's right to use the equipment as agreed. The agreement must comply with Singapore's Contract Law, Supply of Goods Act, and other relevant legislation, making it particularly important for businesses operating in Singapore's dynamic commercial environment.
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1. Parties: Identification and details of the owner and hirer
2. Background: Context and purpose of the hire agreement
3. Definitions: Key terms used throughout the agreement
4. Equipment Description: Detailed description of items being hired
5. Hire Period: Duration of hire and any extension provisions
6. Hire Charges: Payment terms, rates, and payment schedule
7. Delivery and Return: Terms for delivery and return of hired items
8. Maintenance and Care: Responsibilities for maintenance and proper use
9. Termination: Conditions for ending the agreement
1. Insurance: Insurance requirements and responsibilities - include when hired items are valuable or high-risk
2. Option to Purchase: Terms for converting hire to purchase - include when hire-purchase option is offered
3. Training: Training requirements for equipment use - include for complex or specialized equipment
4. Sub-hiring: Terms regarding sub-hiring to third parties - include when sub-hiring might be permitted
1. Schedule 1: Equipment Specification: Detailed technical specifications of hired items
2. Schedule 2: Hire Rates: Detailed breakdown of charges and rates
3. Schedule 3: Condition Report: Documentation of equipment condition at hire start
4. Schedule 4: Operating Instructions: Equipment operation and maintenance guidelines
Relevant legal definitions
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