FOLIO Ontology

Equipment Lease

IRI:
https://folio.openlegalstandard.org/RGwPYMOUrxlxZFIvTL3mxC
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Definition

An equipment lease is a contractual agreement in which one party (the lessor) grants another party (the lessee) the right to use and possess specific equipment for a predetermined period in exchange for periodic rental payments. These agreements often include terms related to maintenance, insurance, and the lessee's responsibilities during the lease term.

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Additional Information

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