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Option to Purchase Equipment
Free option to purchase equipment template — gives a lessee or renter the right, but not the obligation, to buy equipment at a set price.
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This free option to purchase equipment covers 1. Grant of Option, 2. Option Period, 3. Option Fee (if applicable), 4. Exercising the Option, 5. Condition at Purchase with 9 clearly marked [placeholder] fields to fill in — built for founders, freelancers, and small business owners formalizing a business decision or agreement without paying a lawyer to draft it from scratch. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Option to Purchase Equipment
Owner: [Name] · Option Holder: [Name] Equipment: [Description, make, model, serial number] · Date: [Date]
1. Grant of Option
Owner grants Option Holder the exclusive option to purchase the equipment described above, at a purchase price of [Amount].
2. Option Period
This option may be exercised at any time between [Start Date] and [End Date], after which it expires if not exercised.
3. Option Fee (if applicable)
Option Holder has paid Owner an option fee of [Amount], which [is / is not] credited toward the purchase price if the option is exercised.
4. Exercising the Option
Option Holder must notify Owner in writing of intent to exercise the option before the expiration date, after which the parties will complete the sale within [Timeframe], using a bill of sale for the equipment.
5. Condition at Purchase
Equipment will be sold in [its current, as-is condition / warranted condition — specify], as of the date the option is exercised.
6. If Not Exercised
If the option is not exercised by the expiration date, it lapses and the option fee (if any) is forfeited.
Owner: ______________________ Date: ____________ Option Holder: ______________________ Date: ____________
*This kind of option is common at the end of an equipment lease — locking in the purchase price now (rather than negotiating it later, when the equipment's value and the owner's willingness to sell may have changed) gives the option holder real certainty.*
Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.
What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 6 standard sections: 1. Grant of Option, 2. Option Period, 3. Option Fee (if applicable), 4. Exercising the Option, 5. Condition at Purchase, 6. If Not Exercised
- 9 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Early-stage businesses
Getting the basics documented before things get more complex.
FAQ
Is this option to purchase equipment template really free?
Yes — this Option to Purchase Equipment template on docstoc is free to view, edit online, and download as a PDF with no account or signup required.
What does this option to purchase equipment cover?
This business template includes 1. Grant of Option, 2. Option Period, 3. Option Fee (if applicable), 4. Exercising the Option. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. Templates like this cover the common ground most businesses need, but they can't anticipate your specific deal terms, jurisdiction, or industry rules. Treat it as a first draft to build from, and get a business attorney's eyes on it before signing anything that matters.
Can I edit the wording?
Yes. All 9 placeholder fields and every clause are editable right on the page — change what doesn't fit, then download an updated PDF anytime.
Where can I find more free templates like this?
Browse more free business and related document templates in the docstoc library at /document-templates/.
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