Equipment Purchase Agreement Template: What's Included
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If you’re purchasing or selling equipment, you should sign an agreement to clarify payment schedules, equipment condition, and other important terms. This ensures that both parties are on the same page and can avoid disputes.
You don’t have to draft an equipment purchase agreement yourself. On ContractsCounsel, you can purchase a template that’s been drafted by a vetted lawyer on the platform. This template is clear, easy to understand, and legal to cover all key aspects of your transaction.
In this article, we explore what’s included in an equipment purchase agreement template, guide you on how to fill it out, and provide you with benefits of purchasing the template from ContractsCounsel.
What’s Included in an Equipment Purchase Agreement?
Key aspects and terms in ContractsCounsel’s equipment purchase agreement include the following:
Equipment Description
To ensure transparency, the template includes information about the equipment being sold. You’ll fill out important details, such as a description of its appearance and condition, as well as serial numbers, if applicable.
Purchase Price and Payment Terms
This section specifies how much the equipment is sold for and how it will be paid, such as if it will be paid in full during the sale or in installments over a specific amount of time.
Inspection
The buyer might wish to have an equipment inspection prior to purchasing it. The agreement must state that they acknowledge that they can have an inspection should they feel it necessary.
Delivery
It’s important to explain how the equipment will be delivered. The template provides different options, such as if the buyer or seller will be responsible for transportation costs.
Default and Remedies
This section outlines what to do if either party fails to meet their duties. For example, keeping the deposit or terminating the agreement.
How to Fill out the Equipment Purchase Agreement Template
The template offers customization so you can tailor it to your specific situation. Here is how to fill it out.
Step 1: At the start of the agreement template, you should enter the date of the agreement, as well as both parties’ full names and addresses.
Step 2: Fill out the details of the equipment, such as serial numbers, make, model, quantity, and condition.
Step 3: Write the purchase price and specify if it will be paid at the time of sale or via installments. Specify the method of payment, such as money order or check.
If you choose payment via installments:
- Write the amount for an initial deposit and the date by when it will be paid.
- Fill out the remaining balance and specify how it will be paid.
Step 4: Select if the sale is “as is” without warranties or if there are certain warranties. In the space provided, mention any applicable warranties.
Step 5: Choose the delivery method, such as if the buyer will pick it up at a specific location, or if the seller will send it to the buyer’s location. Include the date when either will occur.
Step 6: Specify when risk of loss or damage passes to the buyer: tick a box if this happens upon delivery to the buyer’s location or if it occurs when the buyer picks up the equipment.
Step 7: Fill out any defects or issues with the equipment in the space provided, if applicable.
Step 8: Tick the applicable box for legal remedies if the other party doesn’t meet their obligation.
- If you’re the seller, you can choose to keep the deposit or seek other legal remedies.
- If you’re the buyer, you can select agreement termination and keep the deposit or seek other legal remedies.
Step 9: Choose which state’s laws govern the agreement.
Step 10: At the end of the template, both buyer and seller should fill in their names, signatures, and the date.
Why Should You Buy an Equipment Purchase Agreement Template?
ContractsCounsel’s equipment purchase agreement template is:
- Affordable. It only costs $29.
- Downloadable. After completing payment, you’ll download the template to your device.
- Legally drafted. Professional lawyers on the platform have drafted the agreement template so it’s clear, legally sound, and comprehensive.
- Editable. You can personalize the contract with specific details so that it’s tailored to your situation.
- Available for consultation. If you want to consult with the lawyer who drafted the template, you can do this for an additional charge.
Ready to buy an equipment purchase agreement template?
Visit ContractsCounsel’s equipment template purchase page. Enter your card details and billing address so you’ll complete payment. Once you do, you’ll receive a link to download the template.
See Real Equipment Purchase Agreement Projects
Arizona Contract review for LLC business purchase Review
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- 10 lawyer bids
- $350 - $1,600
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
Meet some of our Equipment Purchase Agreement Template Lawyers
Jane C.
Skilled in the details of complex corporate transactions, I have 15 years experience working with entrepreneurs and businesses to plan and grow for the future. Clients trust me because of the practical guided advice I provide. No deal is too small or complex for me to handle.
"Jane was thorough and patient through a long list of contract revisions (NDAs, Advisor and Consulting Agreements) tailored to CT and DE. She answered detailed follow-up questions clearly and directly, including on enforceability and non-compete scope. Would recommend for startup post-incorporation and contract work."
Michael M.
www.linkedin/in/michaelbmiller I am an experienced contracts professional having practiced nearly 3 decades in the areas of corporate, mergers and acquisitions, technology, start-up, intellectual property, real estate, employment law as well as informal dispute resolution. I enjoy providing a cost effective, high quality, timely solution with patience and empathy regarding client needs. I graduated from NYU Law School and attended Rutgers College and the London School of Economics as an undergraduate. I have worked at top Wall Street firms, top regional firms and have long term experience in my own practice. I would welcome the opportunity to be of service to you as a trusted fiduciary. In 2022 and 2023, I was the top ranked attorney on the Contract Counsel site based upon number of clients, quality of work and number of 5 Star reviews.
"Michael's expertise and judgment impressed me. I brought him in for contract advisory work, and he quickly asked the questions I hadn't considered, identified the risks that mattered, and set aside the ones I had wrongly prioritized. He changed how I understood the contract. He is an excellent advisor - highly recommended."
Tim E.
I am a business attorney focused on providing practical, targeted legal services for small businesses, startups, contractors, consultants, and service providers. I help clients efficiently review, draft, and improve everyday business contracts, including service agreements, NDAs, independent contractor agreements, vendor contracts, commercial leases, and purchase documents. My approach is straightforward: identify the terms that matter, explain risks in plain English, and deliver clear, usable edits or drafts without unnecessary complexity. I regularly handle fixed-fee, quick-turnaround projects such as contract reviews, agreement drafting, and demand or termination letters. While I offer streamlined, project-based services for routine matters, I can also assist with broader business legal needs as they arise.
"Tim was excellent! I gave him project details (liability waiver and rental agreement) and what I needed and he produced the day he said he would with ZERO revisions needed. Highly recommend."
Sara S.
With over eleven years of intellectual property experience, I’m happy to work on your contract problem. I am very diligent and enjoy meeting tight deadlines. Drafting memoranda, business transactional documents, termination notices, demand letters, licenses and letter agreements are all in my wheelhouse! Working in a variety of fields, from construction to pharmaceutical, I enjoy resolving any disputes that come across my desk. I will prioritize your project, big or small. Please be ready and prepared with all relevant documentation so we can get started as soon as you click HIRE! Hourly rate projects will be billed hourly in accordance with the timesheet. Flat rate projects will be billed in segments. Choosing an hourly or flat rate is up to you. Absolutely no refunds.
"Sara was responsive and knowledgeable about prenup specifics. Thank you so much!"
Rene H.
I am an attorney licensed in both California and Mexico. I offer a unique blend of 14 years of legal expertise that bridges the gap between diverse legal landscapes. My background is enriched by significant roles as in-house counsel for global powerhouses such as Anheuser-Busch, Campari Group, and Grupo Lala, alongside contributions to Tier 1 law firms. I specialize in navigating the complexities of two pivotal areas: AI/Tech Innovation: With a profound grasp of both cutting-edge transformer models and foundational machine learning technologies, I am your go-to advisor for integrating these advancements into your business. Whether it's B2B or B2C applications, I ensure that your company harnesses the power of AI in a manner that's not only enterprise-friendly but also fully compliant with regulatory standards. Cross-Border Excellence: My expertise extends beyond borders, with over a decade of experience facilitating cross-border operations for companies in more than 20 countries. I am particularly adept at enhancing US-Mexico operations, ensuring seamless and efficient business transactions across these territories.
"Rene gets the job done in an effective and efficient manner. Rene understood the goals of the project I hired him for; delivered and reached those goals with his knowledge and experience; as well as consistently following up on time, and is pleasant to work with."
Anand A.
Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.
"Anand was a pleasure to work with! He was very thorough and professional."
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I am a corporate attorney with several years of experience with contracts, corporate and business, government projects, and employment law.
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ContractsCounsel User
Lease to buy
Location: California
Turnaround: Less than a week
Service: Drafting
Doc Type: Equipment Purchase Agreement
Number of Bids: 3
Bid Range: $495 - $1,050
ContractsCounsel User