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The basics of an equipment rental agreement - Part 7 - Termination


Working out the details of your equipment rental agreement is a lot of work.  We at EquipCalendar understand and hopefully we can help with our series of blog posts about the basics of an equipment rental agreement.  Today's post focuses on termination of the Agreement.  Here are some suggestions:

When does the agreement end?  Does it have a specific date of termination?  Is it after the rental period ends or is it following any damage inspection?  Does it also require signatures or sign off by all parties in the rental agreement (i.e. Renter and Owner)?

Also be sure to assert the Owner's right to terminate the Agreement earlier upon notice to the Renter.  This is an exceptionally good idea if you conduct your rental business in area that is subject to wild weather, such as hurricanes or typhoons, that might require a mandatory or voluntary evacuation.

In case you missed the first post in this series, regarding "Defining the terms", you can find it here.
In case you missed the second post in this series, regarding "Payment", you can find it here.
In case you missed the third post in this series, regarding "Location of Equipment", you can find it here.
In case you missed the fourth post in this series, regarding "Care of Equipment", you can find it here.
In case you missed the fifth post in this series, regarding "Restrictions on Use", you can find it here.
In case you missed the sixth post in this series, regarding "Loss or Damage", you can find it here.
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