Assignment of Manufacturer's Warranty (Lease Transaction)
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Assignment of Manufacturer's Warranty (Lease Transaction)
This letter agreement can be used by a lessor of equipment to transfer the third-party manufacturer's warranty to the lessee in a business-to-business transaction. This template includes practical guidance and drafting notes. Manufacturers usually provide warranties in connection with their merchandise, although such warranties are generally (but not always) applicable solely to their direct purchasers. When a manufacturer enters into a sales agreement with a purchaser, it generally includes the warranties in that agreement. Downstream customers that lease or acquire the goods (including equipment) through such distributors or lessors are not in privity of contract with the manufacturer and as a result are oftentimes expressly excluded from the warranty's coverage. As such, an aggrieved customer will typically only be able to prevail on a claim against the distributor or lessor, as applicable, based upon whatever warranty that such party provided in its sales or lease agreement with the customer, while the distributor or lessor can then bring a claim against the manufacturer under the warranty provided to it in the applicable distribution or purchase agreement. This, unless the lessor can and does successfully pass along the manufacturer's warranty to the lessee so that the lessee can seek compensation directly from the manufacturer and the lessor would then be off the hook for product liability and similar such claims. For information about product liability generally, see Product Liability Claims, Defenses, and Remedies, and for equipment purchase agreements, see Purchase Order (Equipment Lease), Equipment Purchase Agreement (Buyer) and Equipment Purchase Agreement (Seller). This agreement is jurisdiction and industry neutral and as such, may require additional modification to confirm with applicable industry and/or state law. For a similar agreement applicable to sales transactions, see Assignment of Manufacturer's Warranty (Sales Transaction).
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Assignment of Manufacturer's Warranties. Lessor hereby assigns to Lessee, to the extent assignable, all manufacturer's warranties, service agreements and patent indemnities with respect to the Equipment, if any, for the purpose of making appropriate claims against the manufacturer, provided that the Lessor shall retain at all times the right to be protected by these warranties, agreements ...
A sample letter agreement to be used by a distributor of goods to transfer a third-party manufacturer's warranties to the distributor's customer in a business-to-business transaction, where the distributor's customer will use, rather than resell, the goods. This Standard Document has integrated notes with important explanations and drafting tips.
Assignment of Manufacturer's Warranty (Sales Transaction) Summary. This letter agreement can be used by a distributor of goods to transfer the third-party manufacturer's warranty to a distributor's customer in a business-to-business transaction, where the distributor's customer will use (as opposed to resell) the goods. This template includes ...
The legal template "Assignment of Manufacturer's Warranty (Sales Transaction) under USA law" is a document that outlines the transfer of rights and obligations related to a manufacturer's warranty in the context of a sales transaction. In the United States, manufacturers often provide warranties to customers, guaranteeing the quality ...
Warranty Rights, including the Limitations but shall otherwise have no further obligations to any Party hereto as a consequence of entering into this Warranty Assignment and Consent. 2. Termination and Reassignment Upon written notice from Lessor to Manufacturer (with a copy to Lessee) that the leasing of the [Aircraft] [Engines]
Assignment of Manufacturer's Warranty. Any manufacturer warranties on the Units will be assigned, without recourse to Reseller and/or its customer on payment of the Unit purchase price.Assignment will be evidenced by the issuance of a paid invoice to Reseller for the Unit in question. For a period of twenty-three (23) months following the purchase of HD (High-Definition) Video GPS tracking ...
Assignment of Manufacturer's Warranty (Sales Transaction) Summary This template letter agreement can be used by a distributor of goods to transfer the third-party manufacturer's warranty to a distributor's customer in a business-to-business transaction, where the distributor's customer will use (as opposed to resell) the goods. This template ...
The legal template titled "Assignment of Manufacturer's Warranty (Lease Transaction) under USA law" is a document specifically created to facilitate the transfer of a manufacturer's warranty from one party to another in the context of a lease transaction within the United States.
Assignment of Manufacturer's Warranty (Lease Transaction) Summary. This letter agreement can be used by a lessor of equipment to transfer the third-party manufacturer's warranty to the lessee in a business-to-business transaction. This template includes practical guidance and drafting notes. Manufacturers usually provide warranties in ...
lease agreement provides for the assignment of manufacturers warranties by Lessor to Lessee for the duration of the lease term. For transactions involving a single tier lease structure where there is an assignment in favour of a security trustee, please see the Warranty Assignment and Consent Variant 2, 2012. 2.