Rental Terms & Conditions
By this lease and in consideration of the statements on the front page hereof and the following agreements, limitations and conditions, RentalZip hereinafter called Lessor, leases unto the person, firm or corporation signing this lease as lessee, hereinafter called lessee, that certain personal property, hereinafter called equipment, described on the front page hereof.
- TERMS – Unless otherwise provided on the front page hereof, the terms of this lease respecting each item of equipment commences of the date of pickup by the lessee or his agent, or, if shipped, the date of shipment by the Lessor to the lessee, and ends on a date of return by the lessee of the equipment to the Lessor’s premises.
- 1 day equals 24 hours with maximum 8 hours operation. 7 days equals 1 week which equals 168 hours with maximum 40 hours operation, 28 days equals 1 month which equals 672 hours with maximum 160 hours operation.
- Where guaranteed minimum rental period is specified the lessee guarantees to pay the rate specified for the full term of the guaranteed rental period notwithstanding early return or early termination of the rental period.
- RENT – The rent for any and every item of equipment shall be the amount designated on the front page hereof the section 30.
- PAYMENT – All rentals due under this agreement shall be paid monthly, weekly or daily, as the case may be depending upon whether the equipment has been rented by the month, by the week, or by the day, in advance to the office of the Lessor. All overdue payments shall bear interest at the rate of 2% per month (24% per annum) on the unpaid balance without prejudice to the Lessor’s rights, and in particular without prejudice to the Lessor’s right hereinafter, stipulated to terminate this Agreement for non-payment of rental.
- LOCATION – The equipment shall be located in the province or territory and at the address designated by the lessee at the time of execution of this Agreement and shall not be from said province, territory, or from designated address therein without the Lessor’s prior written consent.
- USE – Lessor shall comply with all laws in anyway relating to the use, operation or maintenance of the equipment. If Lessor supplies lessee with labels stating the equipment is owned by Lessor, lessee shall affix and keep the same upon a prominent place on the equipment.
- ACCEPTANCE – Lessee acknowledges that he has fully inspected and accepted said equipment is in good condition and repair. The lessee further acknowledges the lessee in familiar with such equipment and the operation thereof and has inspected and accepted said equipment in good operating condition.
- INSPECTION – Lessor shall at any and all times during business hours have the right to enter into and upon the premises where the equipment may be located for the purpose of inspecting the same or observing its use. Lessee shall give Lessor immediate notice of any attachment or other judicial process which affects or may affect any item of equipment and shall whenever requested by Lessor advice Lessor the exact location of the equipment.
- LOSS, DAMAGE AND REPAIR – Lessee hereby assumes and shall bear in the risk of loss and damage to the equipment from any and every cause whatsoever and shall keep and maintain the equipment in good repair, condition and working order. No loss or damage to the equipment or any part thereof shall any obligation of Lessee under this lease which shall continue in full force and effect. In the event of loss or damage of any kind whatsoever to any item or equipment, Lessee at the option of Lessor, shall place the same in good repair, condition and working order or alternatively, replace damaged or lost equipment at today’s new market value or repair the damaged equipment, the cost of such repairs to be borne by the Lessee together with interest on the outstanding balance at the rate of 2% per month (24% per annum) from date of invoice to the date of payment.
- Lessee agrees to expenses incurred upon returning equipment to Lessor as follows, damages beyond normal wear & tear, fuel charges, and extensive cleaning hours.
- ALTERATIONS – Without the prior written consent of Lessor, Lessee shall not make any alterations or improvements to the equipment. All additions and improvements of whatsoever kind or nature made to the equipment shall belong to and become the property of Lessor upon the expiration or earlier termination of this lease. The Lessee will not alter, remove, disfigure or in any way change any insignia or lettering upon any of the said equipment. The Lessee shall not tamper with: Odometers, Speedometers or Hour meters on units equipped with same. If these meters show signs of tampering or disconnecting, the customer agrees to the following charges at the option of the Lessor. Odometers/Speedometers – A charge of 50 KM or 30 miles for each hour the equipment was in the customer’s possession. Hourmeters – A charge of 1 hour for each hour the equipment was in customer’s possession.
- DOWNTIME – Should the Lessor suffer lost rentals or incur expenses as a result of the unavailability of leased equipment being repaired by the Lessee, or Lessor, due to damage or loss of the said equipment arising during the term of this lease, then such lost rentals and expenses shall be the sole responsibility of the Lessee and the Lessee shall forthwith pay and/or reimburse the Lessor for the same.
- EXPENSE – During the term of this lease, the Lessee shall at the Lessee’s own expense, pay the cost of:
a) all fuel, oil and lubricants required to operate and maintain the equipment.
b) all repairs, replacement parts including labor charges, required to be made in order to keep it in good repair and running order.
- SURRENDER – Upon the expiation or termination of this lease, Lessee shall return the equipment to the Lessor in good repair, condition and working order, ordinary wear resulting from proper use thereof alone excepted.
- TAXES AND ENCUMBRANCES – Lessee shall keep the equipment free and clear of all levies, and encumbrance, and shall pay all license fees, registration fees, assessments, charges, taxes and encumbrances, (municipal, provincial, territorial and federal) which may now or hereinafter be imposed upon the ownership, leasing, renting, sale, possession, or use of equipment, including without limiting the generality of the foregoing, any and all taxes at whatever rates that are currently or may be in effect with respect to sales tax, value added tax and/or goods and service tax.
- INSURANCE – The Lessee shall at the Lessee’s expense maintain liability, theft, fire and any other insurance required to indemnify the Lessor against any loss to or of the equipment to the extent of new replacement value at date of replacement or cash equivalent, such insurance to cover the insurable interest of the Lessor in said equipment. The insurance shall be kept in full force and effect the time the equipment is leased out by the Lessee or is shipped by the Lessor until it is returned by the Lessee to the Lessor during the Lessor’s normal business hours with Lessor’s acknowledgement. Customer will, on demand, furnish RentalZip with a Certification of Insurance evidencing the applicable coverage. Such certificate(s) shall include liability of not less than $2,000,000 per occurrence and shall be endorsed to provide that the applicable insurance policies may not be cancelled or materially modified except on thirty (30) days prior written notice to RentalZip identified on the front.
- INSURANCE – The Lessee agrees to immediately inform the Lessor in writing of all loses or damages to the equipment and provide the Lessor the name of the Lessee’s insurance company, name and address of the Lessee’s insurance agent, a copy of the police report and complete information concerning insurance coverage for said loss or damage. The Lessee further hereby assigns and grants a security interest to the Lessor to any and all proceeds payable from any claims or otherwise generated from insurance coverage over any and all the personal property covered by this agreement.
- LESSOR’S PAYMENT – In case of failure to produce or maintain said insurance or to pay said fees, assessments, charges and taxes, all as hereintofore specified, Lessor shall have the right, but shall not be obligated, to affect such insurance to pay said fees, assessments, charges and taxes as the case may be. In that event, the cost of thereof shall be re-payable to the Lessor with the text installment of rent, and failure to repay the same shall carry with it the same consequences, including interest at two percent (2%) per month, (24%) twenty-four per cent per annum, as failure to pay any installments of rent.
- WARRANITES – Lessor makes no warranties, either expressed or implied, as to any matter whatsoever, and not restricting the generality of the foregoing, the condition of the equipment, its merchantability or fitness for any particular purpose.
- FORCE MAJEURE – Lessor shall incur no liability whatsoever for any delay or failure to deliver the equipment or for any delay or failure to perform any of its obligations hereunder by reason of strike, lockout, threat of strike or lockout, fire, flood, interruption of delay in manufacture or transportation, act of nature, war, insurrection, mob violence, requirement of governmental authorities, embargo, shortage of labor, equipment or materials, plant breakdown or any other causes beyond the control of Lessor whether or not such causes delay or failure are in existence whether or not known to Lessor at the time of completion of this Agreement.
- INDEMNITY – Lessee shall indemnify Lessor against, and hold Lessor harmless from any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including solicitor’s costs, on a solicitor- client basis, arising out of, connected with, or resulting from the equipment, including without limitation, the manufacture, selection, delivery, possession, use, operation or return of the equipment.
- SECURITY – As security for the prompt and full payment of the rent, and faithful and timely performance of all provisions of this lease, and any extension or renewal thereof, on its part to be performed, Lessee has pledged and deposited with Lessor the amount set forth on the front page hereof. In the event any default shall be made in the performance of any of the covenants, of the part of Lessee herein contained with respect to any item of equipment, Lessor shall have the right, but shall not be obligated, to apply with security of the curing of such default. Any such application by Lessor shall not be a defense to any action by Lessor arising out of said default; and upon demand, Lessee shall restore said security to the full amount set forth in the schedule. Upon the expiration, or earlier termination, of this lease, or any extension or renewal thereof, provided Lessee has paid all of the rent herein called for and fully performed each and all the provisions of this lease on the part to be performed, Lessor will return to Lessee any remaining balance of said security. The Lessee hereby confirms that this Agreement and any extension or renewal or replacement hereof constitutes a security interest. The Lessee agrees and consents to the Lessor filing any and all documentation required by the governmental authority whatsoever in any jurisdiction requiring registration of any such security interest, or interests, as are created by this Agreement and agrees to reimburse and indemnify the Lessor for any expenditure that might be incurred in registering any documentation required by any jurisdiction or governmental authority in that regard. The Lessee acknowledges recent of a duplicate copy of this Agreement and waives this right to receive a copy of any document verifying registration of this Agreement.
- DEFAULT – If Lessee in regard to any item or items of equipment fails to pay any rent or other amount herein provided within ten (10) days after the same is due and payable, or if Lessee with regard to any time or items or equipment fails to observe, keep or perform any other provision of this lease required to be observed, kept or performed by Lessee, Lessor shall have the right at its sole discretion to exercise any one or more of the following remedies.
a) To declare the entire amount of rent hereunder due and payable as to any or all items of equipment.
b) To sue for any recover all rents, and other payments then accrued or thereafter accruing, with respect to any or all items of equipment.
c) To take possession of any or all items of equipment without demand or notice, wherever same may be located without any court order or other process of law. Lessee hereby waives any and all damages occasioned by such taking of possession. Any said taking of possession shall not constitute a termination of this lease as to any or all items or equipment unless Lessor expressly so notifies Lessee in writing.
d) To terminate this lease as to any or all items of equipment.
e) To pursue any other remedy at law or in equity. Notwithstanding any said repossession or any other action which Lessor may take, Lessee shall be and remain liable for the full performance of all obligations on the part of the Lessee to be performed under this lease. All such remedies are cumulative, and may be exercised concurrently or separately.
- BANKRUPTCY – Neither this lease not any interest therein is assignable or transferable by operation of law. If any proceeding under the Bankruptcy Act, as amended, is commenced by or against the Lessee, or if the Lessee is adjudged insolvent, or if the Lessee makes any assignment for the benefit of his creditors, or if a writ of attachment or execution is levied on any item or items of the equipment and is not released or satisfied with ten (10) days thereafter, or if a receiver is appointed in any proceeding or action and given authority to take possession or control of any item or items of the equipment, Lessor shall in its sole discretion have and may exercise any one or more of the remedies set forth in paragraph 21 hereof; and this lease of the Lessor, without notice, immediately terminate and shall not be treated as an asset of Lessee from the date of the exercise of said options.
- LESSOR’S EXPENSE – Lessee shall pay Lessor all the costs and expenses, including solicitor’s fees on a solicitor/client basis incurred by Lessor in exercising any of its rights hereunder or enforcing any of the terms, conditions, or provisions hereof including any costs or removal of the said equipment.
- ASSIGNMENT – Without the prior written consent of Lessor, Lessee shall not:
a) assign, transfer, pledge, or hypothecate this lease, the equipment or any part thereof, or any interest herein, or
b) sublet or lend the equipment or any part thereof to be used by anyone other than Lessee. All rights of Lessor hereunder may be assigned, pledged, mortgaged, transferred, or otherwise disposed of, either in whole or in part, without notice to Lessee.
- OWNERSHIP – The equipment is, and shall at all times be and remain, the sole and exclusive personal property of Lessor; and the Lessee shall have no right, title or interest therein or thereto except as expressly set forth in this lease.
- PERSONAL PROPERTY – The equipment is, and shall at all time be and remain, personal property notwithstanding that the equipment or any part thereof may now be, or thereafter become, in any manner affixed or attached to, or imbedded in, or permanently rested upon, real property or any building thereof, or attached in any manner to what is permanent as by means of cement, plaster, nails, bolts, screws or otherwise. The Lessee acknowledges that any property of the Lessor that is affixed or attached to any other property is solely for the better of the Lessor’s property.
- OFFSET – Lessee hereby waives any and all existing and future claims, and offsets, against any rent or other payments due hereunder, and agrees to pay the rest and other amounts hereunder regardless of any offset or claim which may be Lessee or on its behalf.
- NON-WAIVER – No covenants or conditions of this lease can be waived except by written consent of Lessor. Forbearance or indulgence by Lessor in any regard whatsoever shall not constitute a waiver of the covenants or conditions to be performed by the Lessee to which the same may apply, and , until complete performance be Lessee of said covenants or conditions Lessor shall be entitled to invoke any remedy available to Lessor under this lease or by law or in equity despite said forbearance or indulgence.
- TIME BASIS OF RATES – The rental rates herein are based upon the general practice industry of one shift of 8 hours per day, 40 hours per week, and 160 hours per 4 week period., and if the equipment is used for periods in excess of the general practice, overtime will be charged. If the equipment is rented by the day, the rate for overtime is 1/8th of the daily rate for each hour in excess of eight. If it is rented by the week, the rate for overtime is 1/40th of the weekly rate for each hour in excess of 40. If it is rented by 4 weeks, the overtime rate is 1/60th of the monthly rate for each hour in excess of 160 hours in any one 28 consecutive day period. Lessee shall advise Lessor when equipment used more than a single shift. Rental rates shall not be subject to any deduction for any non-working time during the rental period, nor because the Lessee returns the equipment to the Lessor before the expiration of the minimum rental period. All charges will be calculated using the best combination of daily, weekly, and monthly to give the lowest possible charges.
- LOADING, UNLOADING AND TRANSPORTATION – The Lessee at his own expenses shall load the equipment for transit and shall unload the said equipment upon its return. The Lessee shall pay all shipping expenses from the original point of shipment to his receiving point and all return shipping expenses to the Lessor’s yard. Lessor assumes no responsibility for hook-up of trailer mounted units or loading equipment.
- LIEN – The Lessee acknowledges that the Lessor has a right to file a lien, under the appropriate legislation against the owner of the land where the equipment was used should rental payments not be forthcoming.
- DISCLOSURE – The Lessor shall disclose fully and accurately the identity and address of those who will be using the equipment.
- SEVERABILITY – If any part of this Agreement be declared or held invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect the validity and enforceability of the remainder which shall continue in force and effect and be construed as if this Agreement had been executed without the invalid or unenforceable portion and it is hereby declared the intention of the parties hereto that this Agreement would have been executed without reference to any portion which may, for any reason, be hereafter declared or held invalid or unenforceable.
- ACKNOWLEDGMENT – Lessee acknowledges and understands that the Agreement contained herein is and shall become part of every Rental Agreement, oral or written, between the Lessee and the Lessor and will be retained by the Lessor as evidence of such Agreement for all other rentals by the Lessee.
- POPER LAW – This Agreement shall be governed by the construed in accordance with the laws of the province or territory in which the equipment is delivered. The Lessee hereby waives the Limitation of Civil Rights Act of Saskatchewan or similar legislation.
- ENTIRE AGREEMENT – This instrument constitutes the entire Agreement between the Lessor and Lessee; and it shall not be amended, altered or changed except by a written agreement signed by the parties hereto.
- TIME – Time is of the essence of this lease and all of its provisions.
- INTEREST – On any amounts arising under the terms of the contract shall bear interest of 2% per month (24%per annum) both before and after maturity, default and/or judgment.
- COPY OF DOCUMENTATION – The Lessee hereby agrees and waives any right it may have under any applicable legislation to receive a copy of this Agreement and/or any Financial Interest Statement or Financing Statement, Financing Change Statement or Verification Statement or Renewal Statement or any documentation of similar effect.
- ENVIRONMENTAL RECOVERY FEE – The environmental recovery fee indicated above is a recovery by RentalZip of its expenses and costs for handling, managing, and/or disposing of waste materials associated with the rented equipment that contain hazardous substances, such as motor oil, grease, and/or hydraulic fluid, as well as related administrative costs. THIS IS NOT A GOVERNMENT MANDATED CHARGE.