RENTAL TERMS
The rental term begins on the date and time agreed upon by CIH Equipment Company, Inc. (herein referred to as CIHE) and Renter and continues for the minimum term specified on the agreement until the equipment is sent back overnight to CIHE. Monthly rates are based on a calendar month. Once the equipment leaves our facility, we will charge the minimum term. If the Renter needs to extend the rental period beyond the minimum term, CIHE must be notified immediately via phone or fax for approval and terms for the extension. Defects and/or discrepancies of the equipment must be reported upon receipt of equipment or CIHE will conclusively presume that the equipment was received as ordered and is acceptable by the Renter.
To maintain a timely schedule, all equipment is shipped to and from the Renter at the Renter’s expense using a standard overnight service unless otherwise specified.
CIHE will add insurance costs to shipments over $1,000.00 in value. Costs are figured as follows: $0.50 per $100.00 of value. When insurance costs exceed $1,000.00, the first $1,000.00 will be covered by CIHE. The equipment value is determined by current list price. Shipments must be returned to CIHE appropriately insured.
Renter shall be responsible for and shall pay all taxes where applicable and other governmental charges assessed in connection with the rental use or possession of the equipment.
All invoices are NET 30 DAYS. Invoices not paid in full within 30 days from invoice date will be subject to a 1.5% late charge per month. All collection costs, if collection becomes necessary, will be paid by the Renter. Equipment will not be shipped to any client whose account is 60 days past due. Clients who are regularly late will be placed on a C.O.D. basis.
If any equipment shall require repair or calibration, Renter shall immediately notify CIHE and obtain consent before any remedial action is taken or any equipment is returned. CIHE’s sole obligation under the foregoing warranty shall be to repair, recalibrate, or at its option, replace any equipment that shall fail to meet said warranty at its expense; and the Renter has the right to receive such repairs, calibration, or replacement.
The foregoing warranty shall not apply to any damage to equipment caused by accident, misuse or abuse by the Renter, and CIHE shall not be responsible for any delays or failures in making repairs, recalibration or replacement due to unavailability of parts of labor, strikes, delays in transportation or other causes beyond its reasonable control. CIHE, not being the manufacturer of any equipment, disclaims all other warranties, expressed or implied, including, without limitation, any warranty or merchantability or fitness for any particular purpose of the equipment or that the equipment will not impinge upon any patent or proprietary right of any third party. Unless Renter gives CIHE notice of any defect upon receipt of each item of equipment, it shall be conclusively presumed that such equipment was delivered in good condition.
In no event, whether as a result of breach of agreement or warranty, tort (including negligence) or otherwise, shall CIHE be liable for any consequential, incidental or exemplary damages, including, without limitation, any loss of profit or revenues, loss of use of its equipment or any other equipment, damage to other equipment, cost of substitute equipment or down time costs.
Renter shall use the equipment in a careful and proper manner in compliance with all laws, governmental requirements and the manufacturer’s instruction and specifications, and shall keep the equipment free from all liens and encumbrances. Renter shall be responsible for the maintenance of the equipment during the rental period. Any equipment repair and maintenance work shall be done by CIHE and billed at normal hourly rates. Except upon the prior written consent of CIHE, Renter shall not (1) assign or sublet the equipment or (2) allow any alterations, modifications or repairs of any equipment by anyone other than CIHE. Renter shall bear the entire risk of loss or damage to the equipment form any cause, and shall indemnify and hold CIHE harmless from any and all claims, liabilities, losses, costs and expenses (including attorney’s fees) arising out of the use, possession, operation or rental of the equipment.
Equipment shall be returned to CIHE, in substantially the same condition as when first received, ordinary wear and tear expected, by the date agreed upon indicated on the rental agreement.
Renter shall properly pack all equipment and accessories, in the same manner in which it was received, using original boxes and packing materials for shipment. Renter is responsible for any damage caused during the return shipment (in particular, if ink-type recorders, oil-filled pumps or containers of liquid or powder substances are returned without proper precautions to avoid spillage), Renter shall pay a $75.00 clean-up charge. Renter is responsible to pay to CIHE on demand the new replacement cost of any lost or damaged equipment (including any manuals, cables and other accessories) as well as cost of restoring any equipment that is returned with extraordinary wear and tear or minor damage. Renter shall also be fully responsible for the new replacement cost, with regard to equipment lost or damaged during shipping. Shipments must be returned to CIHE appropriately insured. CIHE, at its own discretion, may report as stolen all rented product (s) not received within 10 days after the date due back at CIHE.
Renter shall be in default hereunder if it should fail to pay, when due, any sum owed to CIHE, or shall fail to perform any other obligation owed to CIHE, or is involved in any bankruptcy or similar proceedings under federal or state law filed by or against Renter. Upon the occurrence of any such default, CIHE may at any time during the continuance thereof, and in addition to all other rights and remedies available herein, at law and inequity, (1) terminate the rental of all equipment rented to Renter, (2) require Renter to assemble and return all such equipment, and/or (3) recover from Renter all amounts payable hereunder. CIHE shall not have any duty to account to Renter for the proceeds of any Disposition of equipment subsequent to return or repossession. All rights and remedies of CIHE on default are cumulative and may be exercised simultaneously or successively. No waiver of any default shall waive any other or subsequent default. Renter shall reimburse CIHE for all costs and expenses incurred by CIHE in enforcing its rights hereunder, including reasonable attorney’s fees.
The above terms and conditions are the only terms and conditions upon which CIHE is willing to rent the equipment. Any additional or different terms in any order or other response by Renter shall be deemed objected by CIHE without need of further notice of objection, and shall be of no effect of in any way binding upon CIHE. No waiver, alteration or modification of any of the provisions hereof shall in any event be effective or binding upon CIHE unless stated in writing and signed by a duly authorized employee of CIHE.
