This equipment placement agreement template has 4 pages and is a MS Word file type listed under our software & technology documents.
Sample of our equipment placement agreement template:
EQUIPMENT PLACEMENT AGREEMENT This Equipment Placement Agreement (the "Agreement") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Equipment Owner"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [CLIENT NAME] (the "Client"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] RECITALS WHEREAS, the Equipment Owner is the owner of certain equipment and software described in Exhibit "A" attached hereto; WHEREAS, the Client has requested that the Equipment Owner loan the Property to the Client; WHEREAS, the Client agrees to keep and maintain the Property only at the location described in Exhibit "B" attached hereto ("Equipment Location"); WHEREAS, the Client agree to comply with all other terms and conditions set forth in this Agreement and to limit use of the Property to the use described in Exhibit "C" attached hereto. NOW THEREFORE, the parties agree to the following terms and conditions: PLACEMENT OF PROPERTY The Equipment Owner agrees to place the Property (described in Exhibit "A") on temporary loan to the Client at the Equipment Location for the limited use by the Client within the terms of this Agreement. The Property shall be maintained only at the Equipment Location described in Exhibit "B" and shall not be moved from the Equipment Location without the written consent of the Equipment Owner. The Property shall be delivered back to the Equipment Owner upon demand and without delay following such demand at the expense of the Client. If at any time the Equipment Owner delivers additional property to the Client, such additional property shall be subject to the terms and conditions of this Agreement unless specifically agreed by the parties in writing. ACCESS TO EQUIPMENT Client shall provide Equipment Owner with access to its premises to Equipment Owner or its agents at any time during normal business hours or after normal business hours in the event of a bona fide emergency for the purpose of inspecting, maintaining or otherwise accessing the Property. LIMITATIONS ON USE Client shall use the Property only for the purposes described in Exhibit "D" and for no other purpose. Access to the Property shall be limited to the individuals listed in Exhibit "E." NO LIENS OR ENCUMBRANCES Client shall not create nor permit any lien, security interest, or other encumbrance of any nature or kind, whether voluntary or involuntary, to attach to the Property. In the event that any such encumbrance attaches to the Property, Client shall immediately and without delay cause such encumbrance to be discharged. PRECAUTIONARY SECURITY INTEREST FILING At the discretion of the Equipment Owner, the Client shall execute any and all documents necessary for the Equipment Owner to file a precautionary [LAW/CODE] registration statement with all applicable governmental offices, giving public notice of the Equipment Owner's exclusive title and ownership of the Property to the public. Client shall pay any and all costs and expenses associated with the preparation and filing of such documents. TERM AND TERMINATION The operation of this Agreement shall continue for so long as any Property of the Equipment Owner has not been returned to the Equipment Owner. NO INTERFERENCE WITH TITLE Client agrees that it shall take no action whatsoever that is inconsistent with the ownership of the Equipment Owner in and to the Property. Client shall take any and all steps that are required to defend the title of the Equipment Owner in and to the Property and shall execute any and all documents requested by the Equipment Owner confirming the Equipment Owner's title in and to the Property. CARE AND MAINTENANCE Client shall be responsible for the care and maintenance of the Property during the term hereof and shall take all steps necessary to assure that the Property remains in good working order, in the same condition as when delivered to the Location. Client shall be responsible for the safe working of the Property, the proper operation of the Property, and the safe installation of the Property in accordance with all specifications and safety requirements. Client shall take all necessary actions to assure that the Property is not misused, damages, or subject to risk of harm. Upon delivery to the Location, Client shall be responsible for any and all risk of loss, damage, destruction, theft or any other diminution in value or any damage or injury caused directly or indirectly by or as a result of the Property or the operation thereof and shall hold the Equipment harmless from and against the same
