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What is employee responsibility for company equipment?

Employees are expected to take proper precautions to care for company equipment. Upon termination, employees are expected to return all company equipment in proper working order. Failure to return equipment may be considered to be theft and may lead to criminal prosecution.

What is the agreement for use of equipment?

An equipment use agreement, sometimes called an equipment lease agreement, is a legal contract that allows a lessee to lease a piece of equipment from the owner or lessor. The lessee will be required to make periodic payments for the use of the equipment throughout the duration of the agreement.

What is a license agreement for use of property?

A license gives the permission of the owner to an individual or an entity to use real property for a specific purpose. Unlike a lease, it does not transfer an interest in the real property. It is personal to the licensee and any attempt to transfer the license terminates it.

What is a lease agreement for equipment?

An equipment lease is a contractual agreement between the owner of the equipment (the lessor) and a small business owner (the lessee) who wants to use the equipment for a specific period in exchange for set payments. In some cases, the lease allows the lessee to purchase the equipment at the end of the term.

What is the equipment usage contract?

An employee equipment agreement is a contract that outlines the terms and conditions for employee use of company-provided equipment. The agreement establishes the responsibilities, liabilities, and use restrictions of both parties to ensure that equipment is secure and accounted for.