Lessor：
Lessee：
This agreement is entered into and concluded on the date of _____, in_____, China, between_____ Co. with________, China (hereinafter called the Lessee) and________ Co. with its principal office at________(hereinafter called the Lessor). Hereby, the Lessor leases to the Lessee and the Lessee hires from the Lessor the commodity described hereunder in accordance with the terms and conditions set forth below:
ARTICLE 1. COMMODITY AND DESCRIPTIONS Commodity: HITAHI 200-5 Excavator Specifications and Capability: Bucket capacity with one cubic metre, maximum digging radius with 10 metres and maximum digging depth with 6.67 metres.
ARTICLE 2. QUANTITY Ten sets
ARTICLE 3. RENT
On firm bases: 800 thousand USD Rent per set: 80 thousand USD Total rent: 800 thousand USD
ARTICLE 4. SHIPMENT Time of shipment: Port of Loading: Port of Kobe Japan Port of Destination: Port of Rangoon Burma Shipping Marks
ARTICLE 5. PLACE WHERE THE AFORESAID COMMODITY IS TO BE USED Rangoon Burma
ARTICLE 6. PAYMENT The total rent shall be paid in two installments, of which, one shall be paid by the Lessee to the Lessor after six months from the date of the arrival of the commodity at the port of destination, and the other shall be paid by the Lessee to the lessor after twelve months from the date of the commodity arriving at the port of destination. Each payment is to be made in US dollar by T/T to Lessor may designate. After the commodity is delivered, the Lessee shall pay the Lessor the full amount of rent in accordance with the aforesaid terms and conditions, no matter whether or not the Lessee actually uses the commodity for any reason including force majeure accidents.
ARTICLE 7. OWNERSHIP The ownership of the commodity belongs to the Lessor, before he transfers it to the Lessee.
ARTICLE 8. DISPOSAL Upon the expiration of the lease agreement, provided that there is no default on the Lessee’s side, the Lessee shall be entitled to purchase the commodity from the Lessor at US________each. When the Lessee has paid the price thereof, the commodity shall belong to the Lessee.
ARTICLE 9. ARBITRATION Any dispute arising from this agreement shall be settled amicably through consultations between the two parties hereto. They agree that if no settlement can be reached, the case in dispute shall be submitted to arbitration. In case the Lessor is the plaintiff, the arbitration shall take place in ________, China; in case the Lessee is the plaintiff, the arbitration shall be conducted in ________. The award of the arbitration shall be final and binding upon both parties.
ARTICLE 10. TAXES All earnings made in China by the Lessee shall be subject to taxation in accordance with the laws of the People’s Republic of China.
ARTICLE 11. RIGHT OF USING THE COMMODITY Nobody except the Lessee may use the commodity, but the Lessee shall not allow any other person to use the commodity without the Lessor’s prior written consent.
ARTICLE 12. GUARANTEE The Lessee shall furnish the Lessor, on/after the signing of this agreement but not later than one month prior to the date of the shipment of the commodity stated herein, with a letter of guarantee issued by Bank of China, ________in favour of the Lessor as the security of full execution of the Lessee’s obligations under this agreement.
ARTICLE 13. DEFAULT INTEREST In case the Lessee is in default of any payment herein, the Lessee shall pay the Lessor a default interest on the amount delayed at the rate of ________% per annum as from the date when the payment is due to the date of actual payment.
ARTICLE 14. MAINTENANCE The Lessee shall keep the commodity in good condition at his expense, but the Lessor shall be responsible for the breakdown of the commodity and the Lessee may lodge claims against the Lessor for amyloses occurred therein.
ARTICLE 15. DURATION The duration of this agreement is one year commencing from the date of the commodity’s arrival at the port of destination.
ARTICLE 16. GOVERNING LAW The formation, interpretation and execution of this agreement shall be subject to the laws of the People’s Republic of China. In WITNESS WHEREOF, the parties hereto have executed this agreement in English, in duplicate on the date and year first above written, each party retaining one copy thereof.
Company：________
Company：________ (signature)
(signature)
References：
http://www.civilcn.com/hetong/gjht/1371109723199378.html