WANCA INVESTMENT LIMITED

Tel: +254-725938793; E-mail: [email protected]; Savannah Park Nairobi Kenya

Equipment Lease Agreement

-------------------------------------------------

EASTERN UNITY INVESTMENT LTD.

-TO

DECHANS ENTERPRISES LTD

OVER

Contract No. EUI/2023-11-29-321

Date: 29/11/2023
 WANCA INVESTMENT LIMITED
Tel: +254-725938793; E-mail: [email protected]; Savannah Park Nairobi Kenya

Party A：Eastern Unity Investment Ltd

Address: Savannah Park Nairobi
Tel: 0715 735 309
ETR Registration No：P051926591A

Party B： Dechans Enterprises Ltd

Address: P.O. Box 13504-00800 Nairobi
Tel: +254707509850
ETR Registration No.：P052091055Q

On the basis of the principle of reciprocity and mutual benefit, the two sides have equipment leasing
matters reached the following agreement
1．Cooperation content
Party A leases this equipment from party B and subleases it to the final user, Party B agrees and
acknowledges that.

1）The subject matter

Make JONYANG Model JY625E
Engine capacity - Logbook No. 2020MSA7505301
Registration number KHMA235P Chassis number 171205-181309
License plate no. K3738015H working hours 8 HRS

2)
Make JONYANG Model JY625E
Engine capacity - Logbook No. 2020MSA7505301
Registration number KHMA234P Chassis number 171220-181311
License plate no. K3676793Z working hours 8 HRS

3)
Make JONYANG Model JY623E
Engine capacity - Logbook No. 2019MSA7304289
Registration number KHMA122P Chassis number 182715-182710
License plate no. K5215927G working hours 8 HRS

4)
Make JONYANG Model JY625E
Engine capacity - Logbook No. 2020MSA7505301
Registration number KHMA233P Chassis number 171218-181307
License plate no. K4614307M working hours 8 HRS
 WANCA INVESTMENT LIMITED
Tel: +254-725938793; E-mail: [email protected]; Savannah Park Nairobi Kenya

5)
Make TOYOTA Model S.WAGON
Engine capacity - Logbook No. 21MBAIM402682739
Registration number KDE786A Chassis number URJ202-4098515
License plate no. K5161744F working hours 8 HRS

2）LEASING PRICE:
Lease Cycles（
Item Description Unit Price(KSH)
Month）

1 Equipment Lease 1 Month 2,400,000.00

2 16%VAT 384,000.00

3 TOTAL 2,784,0000.00
3）Management Fees
Party A has the right to get 10% commission on the rent paid by the end users. The management fee
does not include taxes

2. DELIVERY
1）Time of delivery:
Within 10 working days after signing this contract. According to the deliver form
2）Place of working: KENGEN_EASTERN HYDRO P/STATIONS______________________________
3）Transportation costs
Transportation of the equipment shall be borne by ___Part A______ in total amount:
_50,000___________kshs；

3. PAYMENT TERMS
1）Tax must be included in the leasing business. Party A shall pay the tax and party B shall provide the formal
ETR invoice.
2） Party A shall pay to party B within 7 days upon receipt of the equipment rental;
3） Party A shall not pay any fees to party B before not receiving the equipment rental;
4） This agreement is recognized by both parties;

4． SERVICE OF MAINTENANCE
1） The breakdown maintenance of the equipment shall be borne by the party B; If the maintenance service
provided by party B is delayed, party A shall have the right to arrange maintenance by its own personnel at
the expense of party B.
2） The party B shall be responsible for the routine maintenance of the equipment and to do the periodic
maintenance. The party B shall provide the spare parts of the maintenance. If party B is unable to provide
equipment maintenance services, party A shall be responsible for providing such services, and the spare
parts and service fees incurred shall be provided by party B.
3） The operator of the equipment shall be provided by party B.，The party B shall buy VIBA&personal
accident insurance for the operator. Party B shall provide the relevant supporting documents to party A
4） The equipment provided by party B shall be insured，Party B shall provide the relevant supporting
documents to party A.
5） The heavy casualties and equipment damage and theft will be issued by the police report as the basis of
both sides.
 WANCA INVESTMENT LIMITED
Tel: +254-725938793; E-mail: [email protected]; Savannah Park Nairobi Kenya

5. ARBITRATION
1） All disputes arising from the execution of this agreement shall be settled through negotiation by the parties
in the first instance. In case no settlement can be reached, the case in dispute shall then be submitted to the
official arbitration institution of the contracting country or a third arbitration institution which is
recognized by both parties in accordance with its Provisional Rules of Procedure. The decision made by
this commission shall be regarded as final and binding upon both parties. Arbitration fees shall be borne
by the losing party, unless otherwise awarded.
2） This Contract shall be governed by and construed in accordance with the Law of the Contracting Country.

5. Others
1） During the time of lease, the ownership belongs to the party B, transfer and mortgage is not allowed.
2） Party A not be liable for any rent deduction caused by work stoppage, bad weather, employee strike,
equipment damage, oil theft, casualties, etc.；
3） Party B 's personnel shall listen to the work arrangement on the construction site, and contact Party A 's
personnel in time when risks arise. Party A 's personnel shall negotiate with the person in charge on the
construction site to prevent fighting and vicious incidents.
4） Party A has the right to refuse to pay the rent to party B for not signing the contract and not providing the
above-mentioned documents.
5） Party B has the right to view the lease contract signed by party A and the end user. Party A is obliged to
provide party B with proof of receipt and bank statement of the lease.
6） This contract signed in two copies, the party A holds one copy and the party B holds one copy and the
contract shall become effective upon signing by both parties’ duly authorized representatives.
7） Signature and stamp with equal legal effect.

Party A ____________________ Authorized Signatory

（Signature and Stamp）

_____________________
（Signature or Stamp）

Party B：____________________ Authorized Signatory

（Signature and Stamp）

____________________Director
（Signature and Stamp）