Article 9. Leasing contract

Leasing contract is formed in written form in accordance with the procedure established by law.

The leasing contract is subject to notarization:

at the request of one of the parties to the contract;

The leasing agreement must be notarized in cases where the property is the subject of the lease and agreements concerning it are required by law to be notarized, with the exception of leasing agreements for the acquisition of real estate and vehicles from the primary market.

The essential terms of the leasing contract are:

a description of the leasing object (quantity, quality, list, contract value of the leasing object and other parameters) and an indication of the total monetary amount of the contract;

obligations of the parties related to the acquisition and transfer of the leasing object;

the procedure for the transfer of the object of leasing, including the procedure for the delivery, installation and administration of the object of leasing in the operation;

conditions, sizes, terms and procedure for making lease payments;

obligations of the parties on the use, storage, maintenance and repair of the leasing object;

term of the contract;

indication of the seller and the party responsible for selecting the object of leasing.

By agreement of the parties, the following conditions may be included in the leasing contract:

the procedure and terms for the repurchase of the leasing object;

changes and termination of the leasing contract;

leasing object insurance;

force majeure circumstances;

providing lessor of additional services, without which it is impossible to use the object of leasing;

the order of the subjects of leasing of control over the observance of the conditions of the leasing contract.

The leasing contract can be included other conditions in accordance with the law.