If the equipment is leased for more than two years or for an indefinite period (more than two years at the end), the Personal Property Securities Act 2009 (Commonwealth) may also apply. PandaTip: This agreement has been written in such a way that the equipment is rented at a daily price and for a longer period. Each state sets a maximum “delay fee”. It is therefore recommended to ensure that the specific laws of the state correspond to the additional fees. The information you need to create a device rental agreement usually includes: 5. RENTAL TERM. This Equipment Rental Agreement begins on the effective date mentioned above and expires on [date], unless otherwise terminated in a manner that is in accordance with these Terms. After the expiry of the rental period, the tenant is required to return the appliances to the lessor at the tenant`s expense. This document can be created by a supplier of equipment they rent for personal or commercial reasons, or by a tenant who wants to rent some equipment. In addition to the terms describing the equipment, its use and the details of the payment, the rental agreement can also describe the following conditions: This contract defines the responsibilities and obligations of each party and describes important conditions and information, such as the rental costs of the item, when payments are due, the approximate value of the item and much more. 6. SITUATION. The devices are located at [CUSTOMER ADDRESS] during the term of this Agreement and shall not be removed from this location without the prior written consent of the lessor.
4. SURETY. In addition to the rental fee, the tenant pays a deposit in the amount of [AMOUNT IN WRITTEN DOLLARS] in dollars ($[AMOUNT IN DIGITAL DOLLARS]) before receiving equipment and at the time of signing this contract. This deposit is refunded to the tenant at the end of this agreement, subject to the possibility for the lessor to collect it against any costs or damages incurred. All sums that can be reimbursed to the tenant must be paid at the time of termination of this equipment rental agreement. The guarantor shall be remunerated with an annual interest rate of [PERCENTAGE] from the date of payment to the lessor until the date of repayment on the basis of the total amount of the deposit. 10. CHANGES. The tenant may not make any changes to the equipment without the prior written consent of the lessor. All modifications are the property of the owner and are subject to it in the long term.