Final answer:
Both the lessor and lessee maintain copies of a rental or lease contract for approved equipment, and the entity responsible for contract surveillance also keeps a copy to monitor compliance and performance.
Step-by-step explanation:
In a business context, when a rental or lease contract is signed for approved equipment, copies of the contract are typically maintained by both the lessor and the lessee for their records. Additionally, a copy may also be held by the procurement department or office responsible for managing the equipment requests and overseeing the contract compliance.
For contract surveillance, the individual or team in charge of monitoring the performance and compliance with the contract terms will keep a copy. This ensures that they have ongoing access to the contract provisions to adequately manage, assess, and review the contract's execution against the agreed upon standards and specifications.