An equipment lease agreement is a legal contract where the owner allows another party (lessee) to use equipment in exchange for payment. Simply answer our questionnaire to generate your document.Then, download your file as a PDF or print a copy for your records. 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. Download a free equipment rental agreement template, and view sample lease and leasetoown agreements for construction equipment. Residential Lease Agreement. THIS LEASE AGREEMENT (hereinafter referred to as the "Agreement") made and entered into this. An equipment lease agreement enables someone to rent out machinery, tools, electronics, or equipment to businesses and individuals. The downloadable form is designed to institute a concrete arrangement, establishing the terms and conditions to be followed for the duration of the contract.