Equipment Lease - 704

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ConsensusDocs 704 offers a concise, easy-to-use equipment lease agreement featuring a one-page contract and two pages of general conditions—perfect for efficient project equipment rental.

Included in:

Full Package, Sub Contracting Package

The ConsensusDocs 704 Standard Equipment Lease Agreement is a professionally developed legal document designed to streamline the equipment rental process for construction projects and other project-based industries. This industry-standard lease provides a clear, concise framework for leasing construction equipment, ensuring that both parties—equipment owners and lessees—understand their rights and responsibilities.

The agreement consists of a simple one-page contract that outlines the key terms of the lease, such as equipment description, rental period, payment terms, and responsibilities of each party. Accompanying this is a two-page General Conditions document, which addresses essential legal protections and operational considerations, including equipment maintenance, risk allocation, insurance requirements, and liability terms.

Developed by a coalition of leading construction industry organizations, ConsensusDocs 704 reflects best practices in fair and balanced contract language. It reduces ambiguity, lowers the risk of disputes, and saves time by offering a ready-to-use format trusted by contractors, subcontractors, suppliers, and equipment rental companies alike.

Whether you’re a general contractor managing multiple job sites or an equipment rental business looking to protect your assets, ConsensusDocs 704 helps ensure a smooth leasing experience with standardized legal terms that promote transparency and efficiency.

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Case Studies

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Capital Park Family Health Center

ConsensusDocs is about much more than just producing model documents — it’s about changing the way that the construction industry thinks about contracts and contract negotiation. The question is: Where should negotiations start? The ConsensusDocs documents are a good answer for contractors and subcontractors. Early on, ConsensusDocs made a decision that its process for developing contract language for the industry would be transparent and inclusive and their collaborative approach may also inspire others to re-think the old, stereotyped ‘push risk to the weakest party’ approach to negotiating contracts.