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RENTAL TERMS & CONDITIONS
1. Applicability These terms and conditions apply to all quotations, invoices, Contracts, and transactions for the rental of goods, materials or equipment (the "Equipment") described on the Rental Contract ("Contract') cover page to which these terms and conditions are attached. 2. Term, Automatic Renewal and Termination All rentals shall remain in force for the term set forth on the front hereof. Renewal thereafter for additional rental periods shall be automatic until either Customer or Company terminates this Contract. After the term set forth herein, the Contract may be terminated; I) by Company, by demanding the return of the Equipment; II) by Customer, by returning the Equipment to Company's designated receiving point, or III) by Customer, by notifying Company, in writing or by telephone, that Customer does not wish rental to be renewed, and by Customer obtaining a termination number from Company for Equipment to be picked up by Company. Rent will accrue as outlined in above until the Equipment is delivered to the Company in good working order. 3. Customer Obligations A. Inspections and Acceptance of Equipment. Customer's receipt and possession of Equipment constitutes Customer's acknowledgment that it has inspected the Equipment and accepts the Equipment in good condition, working order and repair as adequate, sufficient, and proper for the purposes for which Customer intends to use it; unless Customer notifies Company to the contrary, in writing, within three (3) days of Customer's receipt of the Equipment. Customer's use of the Equipment constitutes a full and complete acceptance of the terms and conditions of this Contract. If Customer receives any of the Equipment from a carrier in a damaged condition, or with any parts missing, Customer will obtain from carrier written acknowledgment of same. B. Payment. 1. Rental Amount. Customer shall pay the rental amount in accordance with the terms specified on the rental invoices, together with charges for all services furnished by and all damages and sums due to Company under this Contract. Interest shall be charged at a rate of up to One and one-half percent (1-1/2%) per month, or portions thereof, from date of the invoice, on all amounts not paid when due. Customer's obligation to pay all rentals due under this Contract shall not be affected by Customer's inability to use the Equipment for any reason whatsoever. 2. Computation of Rental Amount. A day's rental period comprises eight (8) hours. The minimum charge shall be one full day. A week's rental period comprises seven (7) consecutive days. Days in excess of one week are charged at the daily rate. A month's rental period comprises four (4) consecutive weeks. Days in excess of one month are billed at the daily rate. Weeks in excess of one month are billed at the weekly rate. Any use or operation of the equipment in excess of either eight (8) hours or a single shift in one day, forty (40) hours in any one week, or one hundred sixty (160) hours in any period of four consecutive weeks is considered overtime use. For overtime use Customer agrees to pay Company "Overtime Rent", at the rate of fifty percent (50%) of the regular rate shown per day, per week, or per month, whatever the case may be, in addition to the minimum rent as provided above. The minimum rent shall be payable in all events for the entire term and until the Equipment is returned to Company, without regard to the time during which Equipment may have been used operated. C. Operation of Equipment. Customer shall use the Equipment only for the purposes for which it is intended. Customer warrants that; 1) it and its appropriate personnel will read and comply with all the safety instructions; 2) it has received and reviewed the Operator's Manual for the Equipment and understands the proper and safe operation and intended use of, and the maintenance requirements for the Equipment; 3) no person shall use or operate said Equipment if the operation instructions and/or safety/warning labels are missing, damaged, or in any way obscured; 4) its operators have been properly trained, and, if applicable, licensed, in the safe and proper operation and intended use of the Equipment; 5) it will ensure that all fluid levels (water, oil, etc.) are properly maintained at all times when equipment is in use. 6) CUSTOMER AGREES TO IMMEDIATELY NOTIFY COMPANY ABOUT ANY ACCIDENTS INVOLVING THE EQUIPMENT OR DAMAGE TO THE EQUIPMENT FROM ANY CAUSE WHATSOEVER, AND TO PRESERVE THE EQUIPMENT AND THE ACCIDENT AREA UNTIL SUCH TIME AS COMPANY HAS COMPLETED ITS INVESTIGATION. D. Repairs. Customer is responsible for any damage to the Equipment while in Customer's possession or care, except for reasonable wear and tear. Without limiting the foregoing, Customer is responsible for any losses or damage to equipment that occurs while being rigged, hoisted, or transported by the Customer or its subcontractor or agents. Customer shall not make, or allow anyone else to make, any alteration to the Equipment without Company's written consent. If the equipment is returned in a damaged or inoperable condition, Customer shall pay to Company the prevailing rental rate for periods during which the Equipment shall remain unavailable for rent. If the Equipment cannot be repaired to the same condition as when first delivered to Customer, Customer shall pay the Company's full list price for the Equipment in new and unused condition.
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