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Equipment Finance Agreement
"I need an Equipment Finance Agreement for financing a fleet of construction machinery worth SGD 2.5 million, with quarterly payments over 5 years starting March 2025, including maintenance obligations and an option to purchase at the end of the term."
1. Parties: Identifies the financing party and borrower
2. Background: Explains context and purpose of the financing arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Equipment Details: Specifications and description of financed equipment
5. Financial Terms: Payment schedule, interest rates, and fees
6. Security Provisions: Details of security interests and collateral
7. Representations and Warranties: Statements of fact by parties
8. Covenants: Ongoing obligations of parties
9. Default and Remedies: Consequences of default and available remedies
1. Insurance Requirements: Required when equipment needs specific insurance coverage. Use for high-value equipment or specific risk scenarios
2. Maintenance Obligations: Maintenance requirements for equipment. Use for complex equipment requiring specific maintenance
3. Import/Export Provisions: Requirements for international equipment movement. Use when equipment may cross borders
1. Equipment Schedule: Detailed list and specifications of equipment
2. Payment Schedule: Detailed breakdown of payment obligations
3. Maintenance Schedule: Required maintenance procedures and timelines
4. Insurance Requirements Schedule: Detailed insurance specifications
5. Form of Security Documents: Templates for related security documentation
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