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Equipment Lease Agreement Between Starmark and Mason Consults
Equipment Lease Agreement Between Starmark and Mason Consults
BETWEEN
STARMARK INVESTMENTS LTD
AND
PERNIX CONSULTING LTD
BETWEEN
STARMARK INVESTMENTS LIMITED (a Private Limited Company) which includes its
personal representatives, devises, legatees, heirs, successors, and assignee, whose principal
place of business is situated at Plot 128 Old Kira Road Bukoto Kampala, Uganda and of P.O
Box 75080 Kampala- Uganda (hereinafter referred to as the “The client”)
AND
PERNIX CONSULTING LTD which includes its personal representatives, devisees, legatees,
heirs, Successors, and assignee, whose principal place of Business is situated at Kisaasi,
Kampala and of P.O.Box 11609 Kampala, Uganda referred to as ‘FIRST PARTY’ &
‘SECOND PARTY’ respectively hence and jointly both shall be referred to as “parties” and
each of them as a “party” in this lease Agreement.
AND
Both parties have agreed to enter into this lease agreement to reflect their mutual intention to
cooperate, coordinate and achieve their mutual objectives and to ensure the efficient and
viable implementation of the specified support activities which are also consistent with their
mutual objectives. The terms and conditions herein appearing shall govern the roles,
responsibilities, duties and obligations of the respective parties under this lease Agreement.
WHEREAS
STARMARK INVESTMENTS LIMITED is Licensed to carry out CONSTRUCTION
WORKS in roads, buildings, dams, bridges, etc. and is desirous of leasing construction plant
and equipment including Mount Field Lawn Mower (5 NO.), Floor Cleaning Machines
(10No.), Carpet Extractors (5No.), Vacuum Cleaners (6No.) and any other Machines from
PERNIX CONSULTING LTD for a period of Four (4) years from the date of signing of this
lease Agreement (hereinafter referred to as the Total Hire/Lease Period for use of the
construction plant equipment by the second party
AND
PERNIX CONSULTING LTD has agreed to hire/lease to STARMARK INVESTMENTS
LIMITED all the above listed construction plant and equipment and STARMARK
INVESTMENTS LIMITED shall pay “the Charge” for the same Construction plant and
Equipment to PERNIX CONSULTING LTD
1. INTERPRETATION
In the interpretation of this lease Agreement, the following words and expressions shall have
the meanings hereby assigned to them:
“The Charge”- Means the fees as stated on the “Lease Agreement” as being payable by
STARMARK INVESTMENTS LIMITED to PERNIX CONSULTING LTD for the hire
of the said plant and Equipment per day/Month in accordance with PERNIX
CONSULTING LTD’’s current fee structure, as amended from time, excluding costs of
carriage, insurance and tax borne by STARMARK INVESTMENTS LIMITED
“The Client”
Means STARMARK INVESTMENTS LIMITED which agrees or has agreed to
lease the said plant and Equipment or whose order for the said Equipment is
accepted by PERNIX CONSULTING LTD.
“The Company”
Means PERNIX CONSULTING LTD
“The Conditions”
Means the standard terms and conditions of hire set out in this document and
includes any special terms and conditions agreed in writing between PERNIX
CONSULTING LTD and STARMARK INVESTMENTS LIMITED
The Goods”
Means the plant Mount Field Lawn Mower (5 NO.), Floor Cleaning Machines (10No.),
Carpet Extractors (5No.), Vacuum Cleaners (6No.). However the optional cost of the said
plant and equipment i.e. Oils, fuels (Petrol and Diesel), Electrical power, transport costs,
operators allowances shall be borne by STARMARK INVESTMENTS LIMITED
3. OBJECTIVE
At the end of the term of this lease Agreement and during its operation, both parties which
have agreed to enter into this lease Agreement are to reflect their mutual intention to
cooperate, coordinate and achieve their mutual objectives and to ensure the efficient and
viable implementation of the specified support activities that is consistent with their mutual
objective that the first party shall have leased the second party’s construction plant Equipment
and the first party shall have used and paid to the second party all the plant and Equipment
rental money which shall govern the roles, responsibilities, duties and obligations of the
respective parties under this MOU.
4. PAYMENT OF THE CHARGE.
The charge for each plant or equipment per Day/Week/Mont shall be paid by
STARMARK INVESTMENTS LTD as per the rates tabulated below and as per a period
as the “PARTIES” shall agree and these rates are subject to changes as the prevailing
market prices shall be as the date and location of the works to be executed and as the
“PARTIES” shall agree. The Charge shall be effective for only the time/ period for which
they are practically and effectively used on site.
7. INDEMNITY.
STAR MARK INVESTEMNTS LTD shall be responsible for and shall indemnify PERNIX
CONSULTING LTD against all losses or damages caused to or by the plant and equipment
from whatever cause arising during the production and operational works at the site of works
as stated earlier.
7. PERNIX CONSULTING LTD shall keep the plant and equipment insured against loss,
damages, and public liability and third party risks during haulage and operations
10. REPAIR
PERNIX CONSULTING LTD shall ensure that the plant and equipment is in good working
condition
1. Names: ………………………………………………………………………………
Signature: …………………………………………………………………………….
Date:…………………………………………………………………………………
2. Names: ………………………………………………………………………………
Signature: ………………………………………………………………………….
Date: …………………………………………………………………………………
3. Names: ………………………………………………………………………………
Signature: ………………………………………………………………………….
Date: …………………………………………………………………………………