An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment. Download a free equipment rental agreement template, and view sample lease and leasetoown agreements for construction equipment.Simply answer our questionnaire to generate your document. Then, download your file as a PDF or print a copy for your records. Discover what an equipment rental agreement is, what you should include in one, and download our free rental agreement template to get you started. How do I fill this out? Filling out this form is easy and straightforward. An equipment lease agreement enables someone to rent out machinery, tools, electronics, or equipment to businesses and individuals. Completely fill out the Application Form. 1.01 Contractor shall complete all Work as specified or indicated in the Contract Documents.