Heavy Equipment Lease Agreement
In the mining industry, leasing construction equipment, other heavy equipment, and mining trucks is a common practice.
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Maintaining a fleet of vehicles for hauling materials and other mining equipment for various on-site operations can be cumbersome and expensive. Leasing the equipment ensures that the company has long term access to the heavy equipment that it needs at mining sites, but they do not own them outright, which can free up capital on a company's balance sheet and reduce the need for equipment financing. Technology can change, fuel applications and efficiency can improve, and long term maintenance costs can be prohibitive. The Construction and Mining Trucks Lease Agreement app should be used by a lessor and lessee to agree on various components of a lease such as the lease term, operational costs, maintenance expectations, and other contract details.
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