What is a hire contract?
The basics: This hire contract template sets out the terms on which one business (the customer) will hire equipment, machinery or goods from another business (the owner, supplier or lessor). It includes protections on how the equipment can be used and ensures that the supplier remains the owner of the equipment, even when it is being hired by the customer.
Key provisions: The hire contract template includes key provisions to protect both the supplier and customer including:
- Scope of hire: the hire contract template allows you to enter your own description of the equipment, machinery or goods being hired, so that it is fully tailored to your requirements;
- Delivery: you can choose whether or not delivery of the equipment is included and, if it is, set out clear delivery terms in the hire contract so there can be no dispute over what each party expects;
- Customer obligations: the hire contract sets out how the customer can and cannot use the equipment, to ensure that the supplier’s interests as the owner of the equipment are protected;
- Insurance: you can choose which party will be responsible for insuring the equipment during the hire period, and which insurance obligations will apply to that party in respect of the rental equipment;
- Return of equipment: the agreement includes clauses that set out how and when the equipment must be returned to the supplier at the end of the hire period;
- Supplier’s liability: if you are the supplier of the equipment, the hire contract template includes optional clauses to include limitations and exclusions on your liability and potential financial exposure, in the event that there is a claim by a customer under the contract relating to the equipment rental; and
- Termination rights: a section can be included that sets out each party’s right to bring the agreement to an end early.
Hire contract template that adapts to your needs
This equipment hire contract template contains alternate clauses depending on whether you are the supplier (and owner) of the equipment or the customer hiring the equipment. This means that it is fully tailored to protect your interests as either customer or supplier.
When should I use this hire contract template?
When to use: Where equipment is being rented from one business to another, a hire contract should be entered into so it is clear on what basis the equipment is being hired and when it should be returned. It can be used for any type of equipment, and you can insert details of the exact equipment being hired into the hire contract template.
This hire contract template assumes that the relationship between the parties is B2B, and that the agreement is subject to English Law and the English courts.
When should I use a different template?
Sale of equipment: if the equipment is being sold to a customer (instead of being hired out), you should use our Supply of Goods Agreement instead.
Maintenance services: if the supplier is also providing maintenance services alongside the equipment rental, the parties should also enter into a Services Agreement in relation to the maintenance services.
Drafted by lawyers: Docue’s hire contract template is lawyer-made, lawyer-maintained, and has lawyer-crafted guidelines to steer you through every stage of drafting an agreement which is right for your business.
Uncomplicated: Docue allows your business to create, customise, sign, store, and manage your agreements all in one place. Simply click through the intelligent tick box options and text box answers and you’ll have a comprehensive, tailored, and ready-to-use equipment hire contract in no time.
Manage your contracts: Once you have created a contract that is tailored to your business needs, you can send the contract to each of the parties for electronic signature. After the contract is signed, you can store the agreement in Docue’s smart storage vault to ensure you always have quick and easy access to your contracts in one place. You can ensure you never miss a contract renewal again by enabling Docue’s handy reminders to notify yourself of the next upcoming deadline.
Tags: hire contract template, equipment hire agreement, equipment rental, sample hire contract