Download a free equipment rental agreement template, and view sample lease and leasetoown agreements for construction equipment. An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment.In this post, we'll tell you what a vendor contract form is, why you should use one, and break down the details of our very own free vendor agreement template. How do I fill this out? Filling out this form is easy and straightforward. The text on the image reads 'FULLY EDITABLE TEMPLATE', 'EQUIPMENT RENTAL AGREEMENT', 'GO FROM THIS', 'TO THIS', 'IN SECONDS! Save time and money with this in-depth editable business template. Simply answer our questionnaire to generate your document. Then, download your file as a PDF or print a copy for your records. An equipment lease agreement enables someone to rent out machinery, tools, electronics, or equipment to businesses and individuals.