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This Equipment Lease to Own Agreement is designed for use in Australian jurisdictions where businesses or individuals wish to acquire equipment through an initial lease arrangement with a built-in option to purchase. The agreement is particularly useful when immediate purchase is not feasible or desired, but ownership is an eventual goal. It incorporates provisions compliant with Australian federal and state legislation, including the Personal Property Securities Act 2009 (Cth), National Consumer Credit Protection Act 2009 (Cth), and relevant state-specific regulations. The document addresses key aspects such as equipment specifications, lease payments, maintenance obligations, insurance requirements, and the terms for exercising the purchase option, while providing flexibility to accommodate various types of equipment and industry-specific requirements.

1. Parties: Identifies and provides full details of the lessor and lessee, including ABN/ACN for businesses

2. Background: Outlines the context of the agreement, including the lessor's ownership of the equipment and the lessee's desire to lease with an option to purchase

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpreting the document

4. Equipment Details: Describes the equipment being leased, including specifications, serial numbers, and condition

5. Term and Commencement: Specifies the duration of the lease and when it begins

6. Lease Payments: Details the payment structure, including amount, frequency, and method of payment

7. Purchase Option: Specifies the conditions and process for exercising the option to purchase, including the final purchase price or calculation method

8. Title and Risk: Clarifies ownership rights during the lease period and when title transfers upon purchase

9. Delivery and Installation: Outlines responsibilities for delivery, installation, and commissioning of the equipment

10. Use and Maintenance: Specifies permitted use, maintenance requirements, and responsibilities for repairs

11. Insurance and Risk: Details insurance requirements and allocation of risk for damage or loss

12. Default and Termination: Defines events of default and termination rights and processes

13. Return of Equipment: Specifies conditions and process for returning equipment if purchase option is not exercised

14. GST and Tax: Addresses tax implications and GST treatment of payments

15. General Provisions: Includes standard boilerplate clauses such as notices, governing law, and dispute resolution