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 ownership. Here are some suggestions:
Believe or not, you have to state clearly that the Equipment being rented is your property in your rental Agreement. It's a good idea to state that the Owner shall retain ownership and title to the Equipment at all times. The Renter is also obligated to immediately notify the Owner in the event Equipment is levied, has a lien attached or is threatened with seizure. Also be sure that the Renter shall indemnify and hold Owner harmless against all loss and damages caused by such levy, lien or seizure.
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. In case you missed the seventh post in this series, regarding "Termination", you can find it here. In case you missed the eight post in this series, regarding "Liability Waiver", you can find it here.
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 the liability waiver. Here are some suggestions:
The Renter must be fully responsible for the safekeeping and use of rental Equipment during the stated (or authorized) rental Term. Renter and his/her successors and/or agents, agree to hold Owner harmless from any liability, claims, or actions resulting from damage to property, loss, or injury (including death) caused by or arising from the use or misuse of any rental Equipment, including the failure of the equipment to function as intended by the manufacturer, except to the extent caused by Owner’s gross negligence or willful misconduct.
Be sure that the Renter agrees/understands that they knowingly and freely assume all such risks, both known and unknown, and assume full responsibility for use and safety concerns regarding the Equipment. The Renter must also acknowledge that this Release of Liability covers each and every item they have agreed to rent.
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. In case you missed the seventh post in this series, regarding "Termination", you can find it here.
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. 
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.