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Lease Hire Agreement
"I need a Lease Hire Agreement for a fleet of 5 electric delivery vans to be leased from my company to a retail chain in Hong Kong, with the lease term starting March 1, 2025, including maintenance provisions and an option to purchase at the end of the 3-year term."
1. Parties: Identification and details of the lessor and lessee, including full legal names, addresses, and registration numbers for companies
2. Background: Context of the agreement and brief description of the asset(s) being leased
3. Definitions: Definitions of key terms used throughout the agreement
4. Lease Terms: Core terms including duration, commencement date, and renewal options
5. Rental Payments: Payment terms, amounts, frequency, and method of payment
6. Security Deposit: Details of security deposit amount, terms of holding, and conditions for return
7. Use and Maintenance: Permitted use of the asset and maintenance responsibilities
8. Insurance and Risk: Insurance requirements and allocation of risk between parties
9. Representations and Warranties: Statements of fact and promises made by both parties
10. Default and Remedies: Events of default and corresponding remedies available to either party
11. Termination: Circumstances and procedures for early termination
12. Return of Asset: Conditions and procedures for returning the asset at lease end
13. Notices: Process and addresses for formal communications between parties
14. Governing Law: Specification of Hong Kong law as governing law and jurisdiction
15. Execution: Signature blocks and execution formalities
1. Purchase Option: Include when the lessee has the option to purchase the asset at the end of the lease term
2. Subletting and Assignment: Include when subletting or assignment rights are to be granted or specifically prohibited
3. Force Majeure: Include when specific provisions for unforeseen circumstances are required
4. Environmental Compliance: Include for assets that may have environmental implications
5. Guarantees: Include when a third-party guarantee is required
6. Special Conditions: Include when there are unique requirements specific to the asset or circumstances
7. Stamp Duty Declaration: Include when specific stamp duty arrangements need to be documented
8. Break Clause: Include when early termination options are to be provided
1. Schedule 1 - Asset Description: Detailed description of the leased asset(s) including specifications, condition, and serial numbers
2. Schedule 2 - Payment Schedule: Detailed breakdown of all payments including dates, amounts, and payment methods
3. Schedule 3 - Maintenance Requirements: Detailed maintenance schedule and requirements
4. Schedule 4 - Condition Report: Initial condition report with photographs and notations
5. Schedule 5 - Insurance Requirements: Detailed insurance requirements and minimum coverage levels
6. Appendix A - Required Forms: Standard forms for notices, maintenance records, or return procedures
7. Appendix B - Operating Instructions: If applicable, specific operating instructions or guidelines for the asset
Authors
Manufacturing
Construction
Transportation and Logistics
Agriculture
Mining and Resources
Information Technology
Healthcare
Retail
Hospitality
Financial Services
Real Estate
Automotive
Industrial Equipment
Office Equipment
Heavy Machinery
Legal
Finance
Operations
Procurement
Risk Management
Compliance
Treasury
Asset Management
Facilities Management
Commercial
Chief Financial Officer
Finance Director
Fleet Manager
Operations Manager
Procurement Manager
Legal Counsel
Contract Manager
Risk Manager
Asset Manager
Facilities Manager
Commercial Director
Treasury Manager
Equipment Manager
Compliance Officer
Financial Controller
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