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.