Equipment Lease Agreement. An Equipment Lease Agreement is an agreement where the owner of an equipment permits another to use the equipment in exchange for a periodic lease payment. The owner of the equipment is the lessor, the user of the equipment is the lessee. An equipment that can be leased includes any physical property such as vehicles
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lease commences shall become payable on the commencement of the lease period. Lessee will pay on demand as late charges, an amount equal to two per cent (2%) per month of each instalment of lease rent or part thereof that remains unpaid for a period of more than seven (7) days. It is expressly
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