Real Estate Ownership

Vending Machine Agreement

Greg Stone Greg Stone
How To Use

This review list is provided to inform you about this document in question and assist you in its preparation.Vending machine agreements are pure profit for real estate companies, hotels, motels, office buildings, apartment buildings, factories, and the like.  They can often make the difference between profit and loss of the overall business.

  1. Make multiple copies.  Give an original to each party.

Vending Machine Agreement

______, referred to as OWNER, and _______________, referred to as VENDOR, agree:VENDOR may place vending machines for the sale of the following items within the premises of OWNER: _________________________________________________________________
with locations to be mutually agreed upon within the premises of OWNER. OWNER may require on reasonable notice that VENDOR move machines within the premises of OWNER. This license shall begin on _____________ and conclude on ____________.

VENDOR shall pay any license fees or taxes imposed on the operation of the machines.

VENDOR shall maintain the machines in good working order and regularly maintain and clean the same so that they do not detract from the appearance of the business premises of OWNER. OWNER may terminate this license and require that VENDOR remove the machines in the event that the machines are unsightly or malfunction and reasonably detract from the OWNER’s reputation.
VENDOR shall obtain insurance coverage in a minimum amount of $__________ (__________________&_/100 dollars) through an insurer licensed to offer such insurance for bodily injury and property damage. VENDOR shall indemnify OWNER from all liabilities related to or arising out of the use of the machine.
In consideration of the license to place the machines on the premises of the OWNER, the gross sums collected from the machine’s operation shall be split as follows:
_____% to OWNER
_____% to VENDOR

Accountings and payments shall be made ___________. OWNER, or its representative shall be entitled to audit the books and records of VENDOR to determine the accuracy of the accountings.
Any water or other utility service required for the machines shall be installed at the expense of _____. The charges for any water or other utility service required for the machines shall be paid for by _____.
Dated: _________________________________________


Vendor


Owner