Responsibilities
The Consignee (Business) agrees to:
Handle all insurance for the listed equipment.
Manage maintenance and repairs as necessary.
Conduct marketing and promotional activities to attract rentals.
Advertise, brand, and lend the equipment to its customers.
The consignor (Equipment Owner) agrees to:
Provide all necessary equipment in good working condition.
Notify The Consignee (Business) of any issues or damages related to the equipment.
The Consignee will be held liable for any damage or loss of the equipment while in the possession of a renter.
The Consignor (Equipment Owner) will maintain ownership of the equipment and is responsible for any damages caused by wear and tear from overall usage.
Liability
The Consignee will be held liable for any damage or loss of the equipment while in the possession of a renter.
The Consignor (Equipment Owner) will maintain ownership of the equipment and is responsible for any damages caused by wear and tear from overall usage.
Termination
This Agreement may be terminated by either party with 30 days' written notice.
Upon termination, any unsold rental agreements must be honoured until completed.
Rental Terms
Rental prices will be set by The Consignee (Business)
Rental Report and Payout to The consignor (Equipment Owner) will be made electronically Bi-Monthly or upon request
Revenue Share
The Consignee will receive 50% of the rental income.
The Consignor (Equipment Owner) will receive 50% of the rental income.
Owner Use
The Consignor (Equipment Owner) may check out the equipment for personal use, subject to availability and prior approval from The Consignee.
Miscellaneous
This Agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings.
Any amendments must be in writing and signed by both parties.
