Dredging Lease Agreement

The Army Corps of Engineers tends to use this type of equipment for maintenance of navigable waters, and private companies may use them in digging channels, or for other purposes. For many construction companies, purchasing this type of vessel or equipment isn't realistic or necessary, and in many cases, companies wish to keep the long-term financing and liabilities on their balance sheet free from significant financial burdens. Leasing is often a great option for these companies who will need the equipment long term for a project or several projects, but don't want the commitment of buying it. The Dredging Lease Agreement app should be used by the lessor and lessee to outline the terms of the equipment rentals required for various dredges such as portable dredges, hydraulic dredges, a suction dredge, a hopper dredger, and other equipment used in dredging operations. The contract will clearly define the terms of the lease, payment details, and insurance expectations. Having a proper equipment rental agreement between a lessor and lessee can help ensure that all parties are protected during the lease for heavy equipment. The agreement can also be modified so that a portion of lease payments could go to equipment financing if the lessor is also interested in selling the rental equipment at the end of the lease term.