The agreement ends after an agreed-upon period, which can be fixed or indefinite, depending on the type of the agreement. When a fixed end date comes, the lessee is obligated to return the equipment to the lessor or renew the agreement. When the agreement is indefinite, it automatically and periodically renews itself weekly, monthly, or yearly. If one of the parties wants to cancel the lease, it must notify the other party in due time and explain why opting out of the rental contract.