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  • Actual for You - Top Mistakes with Equipment Leasing

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    ling the obligations of both parties. Contracts that possess clarity and completeness are important and the shorter the contract, the more likely there will be legal risks and ramifications for the company leasing the equipment.

    Performance

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    When negotiating on equipment leasing contracts, small business and corporate accounts should review all the legal terms in order to avoid the top mistakes associated with leasing equipment. These rules are applicable in multiple areas of equipment leasing from educational, computer and engineering equipment leases.

    Mistakes to Be Avoided in Contracts

    One of the primary mistakes made when negotiating their lease is the use of a very short contract. The short contract text may not address issues involving problems with software in computer leases or litigation issues such as employee piracy. Other issues that are not addressed in many short contracts include:

    • Software transaction agreements
    • Troubleshooting Support Issues
    • Clauses handling provider’s going out of business

    It’s important to make sure that all parties have their expectations clearly outlined in the contract. The contract helps avoid mistakes in leasing equipment by detailing the obligations of both parties. Contracts that possess clarity and completeness are important and the shorter the contract, the more likely there will be legal risks and ramifications for the company leasing the equipment.

    Performance D

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    nt leasing from educational, computer and engineering equipment leases.

    Mistakes to Be Avoided in Contracts

    One of the primary mistakes made when negotiating their lease is the use of a very short contract. The short contract text may not address issues involving problems with software in computer leases or litigation issues such as employee piracy. Other issues that are not addressed in many short contracts include:

    • Software transaction agreements
    • Troubleshooting Support Issues
    • Clauses handling provider’s going out of business

    It’s important to make sure that all parties have their expectations clearly outlined in the contract. The contract helps avoid mistakes in leasing equipment by detailing the obligations of both parties. Contracts that possess clarity and completeness are important and the shorter the contract, the more likely there will be legal risks and ramifications for the company leasing the equipment.

    Performance

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    not address issues involving problems with software in computer leases or litigation issues such as employee piracy. Other issues that are not addressed in many short contracts include:

    • Software transaction agreements
    • Troubleshooting Support Issues
    • Clauses handling provider’s going out of business

    It’s important to make sure that all parties have their expectations clearly outlined in the contract. The contract helps avoid mistakes in leasing equipment by detailing the obligations of both parties. Contracts that possess clarity and completeness are important and the shorter the contract, the more likely there will be legal risks and ramifications for the company leasing the equipment.

    Performance

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    ng Support Issues
    • Clauses handling provider’s going out of business

    It’s important to make sure that all parties have their expectations clearly outlined in the contract. The contract helps avoid mistakes in leasing equipment by detailing the obligations of both parties. Contracts that possess clarity and completeness are important and the shorter the contract, the more likely there will be legal risks and ramifications for the company leasing the equipment.

    Performance

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    ling the obligations of both parties. Contracts that possess clarity and completeness are important and the shorter the contract, the more likely there will be legal risks and ramifications for the company leasing the equipment.

    Performance Details

    The contract should detail the performance of the equipment. If someone is leasing a computer system, a server or a backhoe, they need to know that it will handle the load they are preparing to deliver to it. The performance details are an area where equipment can fail in leasing if they are not clearly stated. It’s important to make sure that both parties have those issues clarified before closing on any contracts or deals regarding performance issues.

    Structure Defects

    Structuring agreements is key to understanding where responsibility lies. An equipment leasing agreement needs to stipulate the structure of the deal. In other words, the salesman is unlikely be the primary contact for system defects. The primary contact may be the manager in charge of that account, but they will likely only handle negotiation issues. Customer support issues may be directed elsewhere. That structure and allocation of responsibility must be clearly spelled out in the

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