The Lease Hire Agreement is a crucial document used in Irish business operations when one party (lessor) agrees to lease equipment or assets to another party (lessee) for a specified period in exchange for regular payments. This type of agreement is particularly important in commercial and industrial contexts where businesses need access to expensive equipment without the capital investment of purchasing. The document complies with Irish legal requirements and typically includes detailed specifications of the leased equipment, payment schedules, maintenance obligations, insurance requirements, and end-of-lease terms. A properly structured Lease Hire Agreement protects both parties' interests while ensuring clarity in their respective rights and obligations throughout the lease term.
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1. Parties: Identification and details of the lessor and lessee, including registered addresses and company numbers if applicable
2. Background: Context of the agreement and brief description of the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Equipment/Asset Description: Detailed description of the equipment or assets being leased
5. Term and Commencement: Duration of the lease and start date
6. Payment Terms: Rental amounts, payment schedule, and payment methods
7. Delivery and Acceptance: Terms regarding delivery, inspection, and acceptance of the leased equipment
8. Use and Maintenance: Requirements for proper use, maintenance, and care of the leased equipment
9. Insurance Requirements: Required insurance coverage and responsibilities
10. Title and Risk: Ownership rights and risk allocation
11. Warranties and Representations: Warranties provided and representations made by both parties
12. Termination: Circumstances and procedures for ending the agreement
13. Return of Equipment: Conditions and procedures for returning the equipment at lease end
14. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction
1. Purchase Option: Terms for purchasing the equipment at lease end - include if purchase option is offered
2. Sub-letting: Terms regarding sub-letting rights - include if sub-letting is to be permitted
3. VAT and Tax Provisions: Detailed tax provisions - include for business-to-business agreements
4. Force Majeure: Provisions for unforeseen circumstances - include for high-value or critical equipment
5. Assignment Rights: Terms for transferring rights under the agreement - include if assignment is to be permitted
6. Personal Guarantees: Guarantee provisions - include when additional security is required
7. Data Protection: GDPR compliance terms - include when personal data is processed
8. Environmental Compliance: Environmental requirements - include for equipment with environmental impact
1. Schedule 1 - Equipment Specification: Detailed technical specifications of the leased equipment
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment amounts and dates
3. Schedule 3 - Maintenance Requirements: Specific maintenance procedures and schedules
4. Schedule 4 - Condition Report: Initial condition report of the equipment
5. Schedule 5 - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
6. Schedule 6 - Return Conditions: Detailed specifications for acceptable condition upon return
7. Appendix A - Acceptance Certificate: Form for documenting equipment acceptance
8. Appendix B - Return Certificate: Form for documenting equipment return
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Construction
Transportation and Logistics
Agriculture
Healthcare
Information Technology
Industrial Equipment
Office Equipment
Automotive
Energy
Mining
Retail
Telecommunications
Relevant Teams
Legal
Finance
Operations
Procurement
Risk Management
Asset Management
Facilities Management
Commercial
Business Development
Compliance
Relevant Roles
Legal Counsel
Contract Manager
Fleet Manager
Equipment Manager
Operations Director
Finance Manager
Procurement Manager
Risk Manager
Asset Manager
Facilities Manager
Commercial Director
Business Development Manager
Chief Financial Officer
Operations Manager
Compliance Officer
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