Document background
The Lease Hire Agreement is a crucial commercial document used when businesses or individuals need to acquire the use of assets without purchasing them outright. This contract type, governed by Singapore law, enables lessees to access necessary equipment or assets while maintaining working capital efficiency. The agreement typically includes detailed provisions about the asset, payment terms, maintenance responsibilities, and risk allocation. It's particularly relevant in Singapore's dynamic business environment where companies often prefer leasing over purchasing to maintain flexibility and manage cash flow effectively.
