Common Contracts
1 similar Operating Lease Agreement contracts
Operating lease agreement templateOperating Lease Agreement • June 8th, 2023
An operating lease agreement is a contract where a lessor provides a tenant the right to use an asset for a specified term in exchange for rental payments. In addition, the asset in question can be anything from vehicles and equipment to real estate and office space. Moreover, unlike a finance lease, which transfers ownership of the asset to the renter at the end of the lease duration, an operating lease agreement allows the tenant to use the asset for a limited time. Definition and Objective of an Operating Lease Agreement An operating lease agreement is a contractual arrangement between a lessor (the owner of any asset) and a tenant (the party who will utilize the asset). Furthermore, the objective of an operating lease agreement is to provide the tenant with the right to use the asset for a particular term in exchange for rental payments. Below are some of the primary objectives of an operating lease agreement. Equipment Financing Operating lease agreements provide companies with eq
