Meaning & use
equipment lessor
Last updated
Meaning
nouncountablebusinessfinancelegal
A person or company that rents out equipment to others under a lease agreement.
Grammar: Countable noun; it can be used with 'a' or in the plural 'equipment lessors'.
Patterns
- equipment lessor to someone
- act as equipment lessor
The equipment lessor agreed to lease the machines for five years.
As an equipment lessor, the company owns the tools and rents them to construction firms.
The contract was signed by both the equipment lessor and the lessee.
Word forms
| plural | equipment lessors |
|---|
Common combinations
- equipment lessor and lessee
- The agreement clearly names the equipment lessor and lessee.
- a major equipment lessor
- They are a major equipment lessor in the mining industry.
- equipment lessor's responsibility
- Maintenance is the equipment lessor's responsibility.
Synonyms and how they differ
- lessor
- This is the general term for anyone who leases property; 'equipment lessor' specifies that the property is equipment.
- leasing company
- A more everyday term for a business that leases things, including equipment.
Opposites
Word family
Commonly confused: equipment lessor or lessee?
equipment lessor vs lessee
A lessee is the person who rents and uses the equipment; a lessor is the owner who rents it out.
Practice
In a lease agreement, the equipment lessor is the party that ___.
Choose one answer.
The equipment lessor is the owner who leases the equipment to another party. The lessee is the one who uses it. The lessor does not necessarily repair it for free or sell it.
Make it your own
Write a sentence using “equipment lessor”, then check it and compare it with the examples above.