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Financial Lease Contract
"I need a Financial Lease Contract for a fleet of 5 construction vehicles, with a 48-month term starting March 2025, including maintenance provisions and an option to purchase at the end of the lease term."
1. Parties: Identification and details of the lessor and lessee
2. Background: Context of the lease arrangement and brief description of the asset
3. Definitions: Key terms used throughout the agreement
4. Asset Description: Detailed description of the leased asset including specifications and condition
5. Lease Term and Payments: Duration of lease and payment schedule including amounts
6. Delivery and Acceptance: Terms regarding delivery and acceptance of the asset
7. Insurance and Maintenance: Requirements for insurance coverage and maintenance responsibilities
8. Default and Remedies: Consequences of default and available remedies
9. Governing Law: Specification of Singapore law as governing law
1. Purchase Option: Terms for purchasing the asset at end of lease (include when offering purchase option to lessee)
2. Assignment: Rights and restrictions regarding assignment of lease (include when assignment rights are relevant)
3. Tax Provisions: Specific tax arrangements and responsibilities (include for complex tax situations or cross-border leases)
4. Force Majeure: Provisions for unforeseen circumstances (include when specific risk allocation is needed)
1. Payment Schedule: Detailed breakdown of payment amounts and dates
2. Asset Specification: Technical specifications and details of the leased asset
3. Condition Report: Initial condition assessment of the asset
4. Insurance Requirements: Detailed insurance specifications and requirements
5. Maintenance Schedule: Required maintenance activities and timeline
6. Return Conditions: Specified conditions for asset return at lease end
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