This Equipment Rental Agreement (“Agreement”) is entered into on [date, refer to Lessee’s Order on www.lab.co.th], by and between:
- Lessor: Laboratory (Thailand) Co., Ltd., a company incorporated under the laws of Thailand, with its registered office at [Insert Lessor Address], hereinafter referred to as the “Lessor.”
- Lessee: [ Lessee Name and Address, refer to Lessee’s Order on www.lab.co.th], hereinafter referred to as the “Lessee.”
Both parties, in the presence of witnesses, agree to the following terms and conditions:
- Definitions
1.1. “Equipment” refers to the equipment and tools leased by the Lessor to the Lessee as specified in the Lessee’s order on the Lab Engineering Hub website (www.lab.co.th).
1.2. “Lease Term” refers to the period during which the Lessee is entitled to use the Equipment, as specified in Clause 4.
1.3. “Rental Fees” refers to the fees payable by the Lessee for the use of the Equipment, as outlined in Clause 5.
- Lease of Equipment
The Lessor agrees to lease to the Lessee, and the Lessee agrees to lease from the Lessor, the Equipment as specified in the Lessee’s order on the Lab Engineering Hub website (www.lab.co.th), subject to the terms of this Agreement.
- Training and Equipment Condition
3.1. The Lessor shall provide comprehensive training to the Lessee on the proper operation and maintenance of the Equipment.
3.2. By signing this Agreement, the Lessee confirms full understanding of the Equipment’s operation and maintenance procedures and acknowledges that the Equipment is delivered in good working condition.
- Lease Term
4.1. The Lease Term shall commence on [ Start Date, refer to Lessee’s Order on www.lab.co.th] and end on [End Date, refer to Lessee’s Order on www.lab.co.th] unless extended or terminated earlier in accordance with this Agreement.
4.2. To extend the Lease Term or terminate the Agreement early, the Lessee must notify the Lessor via email at labenghub@lab.co.th at least three (3) days prior to the expiration of the Lease Term or the intended termination date.
4.3. The Lessor reserves the right to approve or deny any request for extension at its sole discretion.
- Rental Fees and Payment
5.1. The Lessee shall pay the Rental Fees as specified in the order confirmation on the Lab Engineering Hub website (www.lab.co.th).
5.2. Payment shall be made 50% of the total rental fee in advance to the Lessor’s designated account via the account provided on www.lab.co.th
5.3. Late payments shall incur a penalty of [Insert Penalty Rate, e.g., 1.5% per month] on the outstanding amount.
5.4. All Rental Fees are exclusive of taxes, duties, or other charges, which shall be borne by the Lessee.
- Lessee’s Obligations for Equipment Use and Maintenance
6.1. The Lessee shall operate and maintain the Equipment in accordance with the Lessor’s training and instructions.
6.2. Unless otherwise specified, the Lessee is responsible for all maintenance and repair costs incurred during the Lease Term.
6.3. The Lessee shall bear the cost of any damage to the Equipment resulting from misuse, negligence, or improper maintenance.
- Return of Equipment
7.1. Upon expiration or termination of the Lease Term, the Lessee shall return the Equipment to the Lessor’s designated location at [Insert Return Address] in its original condition, subject to reasonable wear and tear.
7.2. The Lessee shall be liable for the cost of any damage to the Equipment beyond reasonable wear and tear.
7.3. Failure to return the Equipment on time may result in additional Rental Fees or penalties as determined by the Lessor.
- Ownership and Use Restrictions
8.1. The Equipment remains the property of the Lessor at all times. The Lessee shall not sell, pledge, sublease, or otherwise encumber the Equipment.
8.2. The Lessee shall use the Equipment solely for its intended purpose and in compliance with all applicable laws and regulations.
- Inspection and Access
9.1. The Lessor reserves the right to inspect the Equipment at any time during the Lease Term, with reasonable notice to the Lessee.
9.2. The Lessee shall provide the Lessor with access to the location where the Equipment is stored or used for inspection purposes.
- Insurance
10.1. The Lessee shall, at its own expense, maintain adequate insurance coverage for the Equipment against loss, theft, or damage during the Lease Term.
10.2. The Lessee shall provide proof of insurance to the Lessor upon request.
- Liability and Indemnity
11.1. The Lessee assumes all risks associated with the use of the Equipment and shall indemnify and hold the Lessor harmless from any claims, damages, or liabilities arising from the Lessee’s use or misuse of the Equipment.
11.2. The Lessor shall not be liable for any indirect, incidental, or consequential damages arising from the use of the Equipment.
- Default and Remedies
12.1. The Lessee shall be in default if they fail to comply with any term of this Agreement, including non-payment of Rental Fees or failure to maintain the Equipment.
12.2. In the event of default, the Lessor may terminate this Agreement, repossess the Equipment, and recover any outstanding fees, damages, or costs from the Lessee.
- Termination
13.1. Either party may terminate this Agreement with written notice if the other party materially breaches its obligations and fails to remedy such breach within 7 days.
13.2. Upon termination, the Lessee shall return the Equipment in accordance with Clause 7.
- Governing Law and Dispute Resolution
14.1. This Agreement shall be governed by and construed by the laws of Thailand.
14.2. Any disputes arising under this Agreement shall be resolved through [Insert Dispute Resolution Mechanism, e.g., negotiation, mediation, or arbitration in Thailand].
- Miscellaneous.
15.1. Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements or understandings.
15.2. Amendments: Any amendments to this Agreement must be made in writing and signed by both parties.
15.3. Severability: If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
15.4. Notices: All notices under this Agreement shall be sent via email to labenghub@lab.co.th for the Lessor and Lessee Email [refer to Lessee’s Order on www.lab.co.th], or as otherwise agreed in writing.
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