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Sample Rental Agreement

1. Term. This Agreement shall commence on _____________and remain in full force and effect until Equipment is returned to Owner. Renter shall return the Equipment on ___________ unless it is extended but not before the specified date. In case of early termination of the contract from the renter, the remaining rent will be deducted from the security deposit.

2. Payment. Renter shall pay the following: Rs______ per month for _______

3. Security Deposit. In addition to the fees listed in Section 2, Renter shall pay a deposit of Rs. ______ at the time this Agreement is signed. Owner may use the deposit to cover any amounts due under this Agreement.

4. Repair and Alterations. The costs of all repairs made during the Term shall be paid by Owner, including but not limited to labor, material, parts and other items. In case of repair / replacement, it will be done by Owner on an immediate basis within 3 working days.

4. Late Payment. If Renter fails to make any installment payment within ______ (INSERT #) days of the due date, Renter shall pay a surcharge of Rs______ per ______ for late payments.

5. Location of Equipment. During the Term, Equipment shall be located at _________________________, unless expressly agreed otherwise in writing by Owner.

6. Care of Equipment. Equipment can only be used in a careful and proper manner and shall not be used in any way that is inconsistent with Owner’s instructions or manuals.

8. Loss or Damage. Renter shall alert Owner to any damage to the Equipment. Renter shall be responsible for any loss or damage to Equipment and loss of use, diminution of the Equipment’s value caused by damage to it or repair to it and missing equipment.

9. Condition of Equipment. The Condition of Equipment Checklist (“Checklist”) attached is hereby incorporate by reference. Renter acknowledges that Renter has examined the Equipment and that it is in good condition except as otherwise specified in the Checklist

10. Return of Equipment. Renter shall return Equipment on the date specified in Section 1 in the same condition as Renter received it, except for normal wear and tear. Renter shall return the Equipment to the agreed return location. If Equipment is not returned on said date, Owner reserves the right to take any action necessary to regain possession of the Equipment.

11. Termination. This Agreement shall terminate on the date specified in Section 1. Owner reserves the right to terminate this Agreement earlier upon notice to Renter.