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A capital lease is where the company or lessee wants the equipment to appear on the balance sheet as an asset, but also wants to spread out the payments over the life of a term. The equipment leased is considered part of the company's assets (i.e., ?capital?, hence the name).

Contract Equipment means all equipment, machines, parts, components and/or spare parts, to be delivered as stipulated within the Seller's scope of supply, that are necessary to complete the scope of the Contract.

An equipment use agreement, sometimes called an equipment lease agreement, is a legal contract that allows a lessee to lease a piece of equipment from the owner or lessor. The lessee will be required to make periodic payments for the use of the equipment throughout the duration of the agreement.

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It is an agreement where an individual or company (usually from a construction business) rents construction equipment to another contractor on the basis of terms and conditions.

Equipment is considered a noncurrent asset ? or fixed asset. A noncurrent asset is a long-term investment that your company makes that is not likely to become cash within an accounting year or does not easily convert to cash.

Unlike an outright purchase or equipment secured through a standard loan, equipment under an operating lease cannot be listed as capital. It's accounted for as a rental expense. This provides two specific financial advantages: Equipment is not recorded as an asset or liability.

Equipment rental expense is an account in which is stored the year-to-date expense associated with renting various types of equipment. The total for this account may appear as a separate line item in the income statement, or it may be aggregated with other accounts into a line item with a different designation.

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Rental equipment is typically classified as an operating expense, as it is necessary for the day-to-day operations of the business. This is the most common expense category for rental equipment, and is typically the most straightforward to classify.