Company equipment return agreement
An equipment return agreement lists the laptop, phone, tools or tablet you hand an employee and says, in advance, how and when it comes back. This template covers an itemized list with serial numbers, care and use, reporting loss, the return deadline and shipping, and what you can't take from a paycheck. Read it below, fill in the equipment and send it on the day you hand it over.
Updated November 5, 2026 · 3 min read
The contract
Gray blanks are yours to fill in before you send. Each signer fills in the blanks in their color.
- You, before sending
- Employee
- Company representative
Company Equipment Use and Return Agreement
This Company Equipment Use and Return Agreement (the "Agreement") is made on Date issued between Company name (the "Company") and Employee name (the "Employee").
1. Equipment issued
The Company is providing the following equipment (the "Equipment") for the Employee's work:
- Item 1 description, serial or asset number Item 1 serial number, condition: Item 1 condition, replacement value Item 1 value
- Item 2 description, serial or asset number Item 2 serial number, condition: Item 2 condition, replacement value Item 2 value
- Item 3 description, serial or asset number Item 3 serial number, condition: Item 3 condition, replacement value Item 3 value
- Item 4 description, serial or asset number Item 4 serial number, condition: Item 4 condition, replacement value Item 4 value
Accessories such as chargers, cases, cables and keys issued with an item are part of it. Any attached asset list is part of this Agreement. Damage or missing parts the Employee notices on receipt: Damage noticed on receipt.
2. Ownership
The Equipment belongs to the Company at all times. The Employee may not sell, lend, rent, pawn or give it to anyone else, and may not let family members or other people use it.
3. Care and use
The Employee will use the Equipment mainly for Company work, take reasonable care of it, keep it secure when traveling, and follow the Company's technology and security policies. The Employee will not install software the Company's policies prohibit, remove security tools, or have the Equipment repaired by anyone other than the Company or a repairer it approves. The Company pays for maintenance and repairs from normal use.
4. Loss, theft and damage
The Employee will report loss, theft or damage to Loss report email within one business day of discovering it, and will file a police report for any theft. The Employee is not responsible for normal wear and tear, or for loss or damage that happens despite reasonable care. The Employee may be asked to cover the reasonable cost of loss or damage caused by their deliberate misuse or gross carelessness, but only as the law allows and as set out in section 7.
5. Returning the Equipment
The Employee will return all Equipment, in the condition received apart from normal wear, within Days to return equipment days after their employment ends, or sooner if the Company asks. Equipment may be returned to Return location. For returns by mail, the Company will provide a prepaid shipping label and packaging if the Employee asks, and will confirm in writing when the Equipment arrives.
6. Data on devices
The Employee will not wipe, reset or lock any device before returning it, and will give the Company any passcodes it needs to access the device. Before returning a device, the Employee may remove their own personal files. The Company will securely erase devices after any records it must keep have been preserved.
7. No deductions from pay
The Company will not deduct the cost of any Equipment from the Employee's wages, including final pay, unless the law where the Employee works allows that deduction and the Employee agrees to it in a separate written authorization signed at the time. Nothing in this Agreement is that authorization. Any amount the Company believes is owed will be raised with the Employee first.
8. General terms
This Agreement does not change the terms of the Employee's employment or whether it is at will. It is governed by the laws of the state of State, can be changed only in writing signed by both parties, and may be signed electronically. Equipment issued later may be added by a signed update listing the new items.
I have received the Equipment listed above, apart from anything I noted as missing, and I agree to look after it and return it as this Agreement says.
Employee
For the Company
Opens it in SignMaster as a template you can edit and send.
A starting point, not legal advice. Have a lawyer review it for your state and situation.
On this page
Sign it at hand-off, not at the exit
Chasing a laptop after someone has left is slow and awkward. The agreement works best when it's signed the day the equipment goes out, while everyone is on good terms and the condition is easy to record. The employee gets a clear list of what they're looking after, and you get a written promise to return it by a deadline that you can point to later.
Use it for remote employees, field crews with tools and tablets, and anyone with a company phone. When someone leaves, send a short return receipt listing what came back, so both sides have a record that the list was closed out.
What the template covers
- Itemized list: each item with its serial or asset number, its condition at hand-off and its replacement value.
- Ownership: the equipment stays company property, and can't be sold, lent or pawned.
- Care and use: reasonable care, business use, no software that breaks your security policy, and no do-it-yourself repairs.
- Loss and damage: reported within a day, with a police report for theft. Normal wear isn't the employee's cost.
- Return: within a set number of days after the job ends or on request, in person or with a prepaid shipping label.
- Data: devices come back unlocked and not wiped, with personal files removed and passcodes given to IT.
- Deductions: nothing comes out of wages unless the law allows it and the employee agrees in a separate signed writing at the time.
Mistakes to avoid
- Deducting the cost from the final paycheck. Many states restrict or ban deductions for lost or damaged equipment, and under federal law a deduction can't take an hourly employee below minimum wage.
- No serial numbers. "One laptop" won't help when three come back in the same box.
- Charging for normal wear. A scuffed case after two years isn't damage.
- Letting employees wipe devices. A factory reset can destroy records you're required to keep; have IT do it.
- Forgetting the prepaid label. A remote employee is far more likely to send equipment back if it costs nothing and takes one trip to a drop-off point.
How to send it with SignMaster
- 1
Open the template
Choose Use this template above. The employee signs first, and the person who issued the equipment signs for the company.
- 2
List the equipment
Type each item, its serial number, condition and value into the gray blanks. For longer lists, attach your asset sheet as a second document.
- 3
Sign at hand-off
Handing it over in person? Use Sign in person on your phone or tablet. Shipping it? Email the link the day it goes out.
- 4
The employee confirms receipt
They check the list against what arrived, note any damage they spot, and sign. Both of you get the signed PDF.
- 5
Close it out on return
When the equipment comes back, send a short return receipt so there's a signed record of what arrived and in what condition.
Issuing new laptops to a whole team? Bulk send makes one agreement per person from your asset spreadsheet, with columns named Item 1 description and Item 1 serial number filling each copy. Save the sheet as CSV UTF-8 from Excel first. Bulk send is on paid plans.
Questions? Answers.
Can I deduct unreturned equipment from a final paycheck?
Be careful. Many states ban or limit these deductions, some require a separate written authorization signed at the time, and federal law protects minimum wage and overtime. The template promises no deduction except as the law allows; recover the cost another way if needed.
What if a remote employee never sends it back?
Send reminders, offer a prepaid label and lock the device remotely if your security tools allow. After that, a demand letter and small claims court are the usual routes, and the signed agreement is your evidence.
Does an employee pay for a stolen laptop?
Usually not, if they took reasonable care and reported it quickly. The agreement asks for prompt reporting and a police report, which also helps with an insurance claim.
Should it cover company vehicles?
It can list a vehicle as an item, but a separate vehicle use policy covering drivers, insurance and personal use is worth having as well.