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

29. June 2016 Scott EquipCalendar Advice, Equipment Rental (0)

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.

The basics of an equipment rental agreement - Part 6 - Loss or Damage

19. June 2016 Scott EquipCalendar Advice, Equipment Rental (0)
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 loss or damage.  Here are some suggestions:

First and foremost, define the terms under which the Renter shall be required to alert Owner to any damage to the Equipment included in this Agreement.  If any of the Equipment is not returned by Renter for any reason at the end of the stated Term (or authorized pick-up time) will be charged to Renter at the replacement cost of the item(s) in addition to charges incurred for the rental Term.

Be sure to state that the Owner makes no warranty of any kind regarding the rented equipment, except that Owner shall replace the equipment with identical or similar equipment if the equipment fails to operate in accordance with the manufacturer’s specifications and operation instructions. Such replacement shall be made as soon as practicable after RENTER returns the non-conforming equipment.

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.

The basics of an equipment rental agreement - Part 5 - Restrictions on Use

9. June 2016 Scott EquipCalendar Advice, Equipment Rental (0)
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 restrictions.  Here are some suggestions:

List any and all users of the rented Equipment, and state that you permit only those listed in the Agreement.  The Equipment is not to be used by any person who is not authorized by this Agreement.  Clearly state the Renter may not operate or use the Equipment in, or to commit a, violation of law.

All of the Equipment must not be operated, used, maintained and stored in a manner that may cause damage to the Equipment.  The Renter is responsible for reading and following instructions and warnings for the safe and proper use of the Equipment.  Renter agrees to use all Equipment as intended by the manufacturer, comply with manufacturer's and/or Owner's instructions, and to not exceed weight, capacity or other limits established by the manufacturer.

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.

The basics of an equipment rental agreement - Part 4 - Care of Equipment

29. May 2016 Scott EquipCalendar Advice, Equipment Rental (0)


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 care of the equipment.  Here are some suggestions:

Specify that the Renter agrees that Equipment will be used in the prescribed manner for which it is intended.  Remind the Renter that the Equipment can only be used in a careful and proper manner, and in a way that is consistent with Owner's instruction and/or Equipment manuals (especially if you will be furnishing manuals only).

Be sure to note that the Renter cannot undertake any repairs or alterations, or the addition of any accessories, without Owner's prior written consent. Also, any repairs made during the rental Terms, shall be paid by the Renter, including but not limited to labor, materials, parts and other items.

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.

The basics of an equipment rental agreement - Part 3 - Location of Equipment

19. May 2016 Scott EquipCalendar Advice, Equipment Rental (0)


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 location.  Here are some suggestions:

It's incredibly important that you spell out each and every location the Renter plans to utilize the equipment you are renting out.  If another business, or business owner, is renting the equipment, be sure that you know any, and all, sites that the equipment might be used at.  This could also aid in the recovery of your equipment, should the Renter fail to return it in a timely manner.

After spelling out the location, state clearly that the equipment cannot be used AND located at only that location, unless expressly agreed otherwise, in writing, by the Owner of the equipment.  Make sure the Renter warrants and agrees that Equipment will not be moved to another address, without the written notice and agreement by the Owner.


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.