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Lease Hire Agreement

Lease Hire Agreement Template for New Zealand

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Key Requirements PROMPT example:

Lease Hire Agreement

"I need a Lease Hire Agreement for construction equipment (two excavators and a crane) being leased to a building company in Auckland, with a 36-month term starting March 2025 and including maintenance services."

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Document background
The Lease Hire Agreement serves as a vital commercial instrument in New Zealand's business environment, enabling companies and individuals to access necessary equipment without the capital expenditure of purchasing. This document type is particularly relevant when parties seek to establish a formal leasing arrangement that includes detailed terms for equipment use, maintenance obligations, and payment schedules. The agreement must comply with New Zealand's legal framework, including the Contract and Commercial Law Act 2017 and consumer protection legislation. A well-structured Lease Hire Agreement should clearly outline the rights and responsibilities of both lessor and lessee, including provisions for equipment delivery, maintenance, insurance, and return conditions, while also addressing potential scenarios such as default, early termination, and equipment damage.
Suggested Sections

1. Parties: Identification of the lessor and lessee, including full legal names, addresses, and registration numbers for companies

2. Background: Context of the agreement and brief description of the transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Equipment Description: Detailed description of the equipment being leased, including make, model, serial numbers, and condition

5. Term and Commencement: Duration of the lease and commencement date

6. Payment Terms: Rental amount, payment frequency, payment method, and any additional charges

7. Delivery and Installation: Terms regarding delivery, installation, and commissioning of the equipment

8. Use and Maintenance: Obligations regarding proper use, maintenance, and care of the equipment

9. Insurance Requirements: Insurance obligations of the lessee and coverage requirements

10. Risk and Liability: Allocation of risk and liability between parties

11. Default and Termination: Events of default and termination rights

12. Return of Equipment: Conditions and procedures for returning equipment at lease end

13. General Provisions: Standard contractual provisions including notices, assignment, and governing law

Optional Sections

1. Purchase Option: Include when the lessee has the option to purchase the equipment at the end of the lease term

2. Service Level Agreement: Include when maintenance services are provided as part of the lease

3. Training and Support: Include when training or technical support is provided with the equipment

4. Import/Export Requirements: Include for international leasing arrangements

5. Environmental Compliance: Include for equipment with specific environmental requirements or impacts

6. Sublease Provisions: Include when subleasing is permitted

7. Multiple Location Use: Include when equipment can be used at multiple locations

Suggested Schedules

1. Schedule 1 - Equipment Specifications: Detailed technical specifications of the leased equipment

2. Schedule 2 - Payment Schedule: Detailed breakdown of payments, including dates and amounts

3. Schedule 3 - Maintenance Requirements: Specific maintenance schedules and requirements

4. Schedule 4 - Condition Report: Initial condition report of the equipment

5. Schedule 5 - Insurance Requirements: Detailed insurance requirements and minimum coverage

6. Appendix A - Return Conditions: Detailed specifications for acceptable condition upon return

7. Appendix B - Service Level Details: Detailed service levels and response times if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Law
Business Day
Commencement Date
Confidential Information
Default Event
Default Interest Rate
Delivery Location
Equipment
Fair Wear and Tear
Force Majeure Event
GST
Hire Charges
Insurance Requirements
Lease Period
Lease Term
Lessee
Lessor
Maintenance Schedule
Operating Instructions
Payment Date
Permitted Use
Purchase Option Price
Related Company
Return Condition
Return Location
Security Interest
Service Level Requirements
Specified Location
Term End Date
Total Loss
Warranty Period
Clauses
Equipment Lease
Payment Terms
Delivery and Acceptance
Title and Risk
Use of Equipment
Maintenance and Repairs
Insurance
Warranties
Liability and Indemnity
Default and Remedies
Termination
Return of Equipment
Assignment and Subletting
Confidentiality
Force Majeure
Notices
Dispute Resolution
Governing Law
Entire Agreement
Variation
Severability
GST and Taxes
Health and Safety
Environmental Compliance
Security Interest
Intellectual Property
Data Protection
Record Keeping
Inspection Rights
Reporting Requirements
Relevant Industries

Manufacturing

Construction

Agriculture

Mining

Transportation

Technology

Healthcare

Retail

Hospitality

Warehouse and Logistics

Office Equipment

Industrial Equipment

Automotive

Energy

Telecommunications

Relevant Teams

Legal

Procurement

Operations

Finance

Risk Management

Facilities Management

Asset Management

Supply Chain

Commercial Operations

Contract Administration

Relevant Roles

Procurement Manager

Operations Director

Fleet Manager

Equipment Manager

Financial Controller

Legal Counsel

Contract Manager

Facilities Manager

Asset Manager

Chief Financial Officer

Operations Manager

Supply Chain Manager

Risk Manager

Commercial Manager

Business Development Manager

Industries
Contract and Commercial Law Act 2017: This Act provides the fundamental framework for contract formation, enforcement, and remedies in New Zealand. It's essential for ensuring the lease hire agreement meets basic contractual requirements.
Credit Contracts and Consumer Finance Act 2003: This Act regulates credit contracts and leasing arrangements, including disclosure requirements, fees, and consumer protections in financial transactions.
Personal Property Securities Act 1999: Relevant for securing the lessor's interest in the leased property and establishing priority rights in case of default or bankruptcy.
Fair Trading Act 1986: Ensures fair trading practices and prohibits misleading or deceptive conduct in trade. This Act is crucial for ensuring transparency in the lease terms and conditions.
Consumer Guarantees Act 1993: Provides statutory guarantees for goods and services supplied to consumers, including leased goods, ensuring they are of acceptable quality and fit for purpose.
Privacy Act 2020: Governs the collection, use, and disclosure of personal information in the agreement, particularly relevant for consumer lease arrangements.
Property Law Act 2007: While primarily focused on real property, certain provisions may be relevant for leasing arrangements and property rights.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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