Equipment Rental Agreement
EQUIPMENT RENTAL AGREEMENT
This Equipment Rental Agreement (the "Agreement") is made and entered into on [Date] by and between:
In Motion Services Inc., a corporation organized under the laws of Ontario with its principal place of business located at 24 Martin Ross Ave. Unit 6, Toronto, ON M3J 2K8 (hereinafter referred to as "Lessor"),
[Client Name], an individual with a mailing address of [Client Address] (hereinafter referred to as "Lessee").
Equipment Ownership: The equipment shall remain the property of In Motion Services Inc. The client shall return the equipment to In Motion Services Inc. in the same condition as when received, reasonable wear and tear excepted. In Motion Services Inc. shall be responsible for the maintenance and repair of all equipment. The client shall immediately return any equipment requiring repairs to In Motion Services Inc. or, at the option of In Motion Services Inc., for alternative equipment to be provided.
Proper Use and Operation: The client acknowledges that In Motion Services Inc. has instructed them in the proper use and operation of the equipment and agrees to abide by those instructions.
Equipment Responsibility: The client shall be solely responsible for any loss, damage, destruction, or theft of the equipment until it is returned to In Motion Services Inc. If the equipment is lost, damaged, destroyed, or stolen while this agreement is in effect, the client shall advise In Motion Services Inc. immediately and shall pay the fair market value of the equipment. The client is responsible for notifying In Motion Services Inc. on or before the due date to extend the rental period. In Motion Services Inc. may automatically debit the client's credit card on the due date if no communication attempts have been made by the client.
Liability Waiver: The client acknowledges that neither In Motion Services Inc. nor any of its officers, directors, employees, or related affiliated companies shall be responsible for any personal injuries, death, damages, losses, or expenses incurred by the client or any other person resulting from or in any way related to the rental of the equipment or the use and operation of the equipment. The client hereby waives any and all claims they may have against such parties resulting from this agreement.
Rental Payments and Deposits: The rental payments shall be made payable monthly or weekly in advance on the first day of each month or week that this agreement is in effect, as specified on the front side of the agreement. Overdue payments shall bear interest at the ratio of 1.5% per month, 18% per annum from the day they are overdue until payment in full, notwithstanding any termination of this agreement. In Motion Services Inc. may apply the deposits, or any part thereof, to the last payment(s) due hereunder. Upon termination of this agreement and the return to In Motion Services Inc. of the equipment in satisfactory condition, the balance of the deposit, if any, shall be returned to the client, without interest.
Termination: This agreement may be terminated by In Motion Services Inc. without notice if at any time the client fails to pay the rental payment within 10 days of the due date of such payment. Upon such termination, the client shall forthwith return the equipment to In Motion Services Inc., failing which In Motion Services Inc. may take all steps necessary to repossess the equipment.
Use of Equipment:
- The client will use the equipment for the purpose for which it was designed and not for any other purpose.
- The client will use the equipment in a good and careful manner and will comply with all of the manufacturer’s requirements and recommendations respecting the equipment with any applicable laws, whether municipal, provincial/territorial, or federal respecting the use of the equipment, including, but not limited to, environmental and copyright laws.
- The client will not alter, modify, or attach anything to, nor remove anything from, the equipment, unless the alteration, modification, or attachment is easily removable or restorable without damaging the functional capabilities or economic value of the equipment.
- The client will not allow the equipment to be used in the rain and will not submerge the equipment in any water.
Return of Equipment: Upon the termination of this agreement, the client shall return the equipment to In Motion Services Inc. in the same condition as when received, reasonable wear and tear excepted. The client shall be responsible for any loss, damage, destruction, or theft of the equipment until it is returned to In Motion Services Inc. If the equipment is lost, damaged, destroyed, or stolen while this agreement is in effect, the client shall advise In Motion Services Inc. immediately and shall pay the fair market value of the equipment.
Governing Law: This agreement shall be governed by and construed in accordance with the laws of the jurisdiction in which In Motion Services Inc. is located.
The rental reservation may be cancelled at any time by providing written notice to In Motion Services Inc. However, if the rental reservation is cancelled within 24 hours or less of the scheduled rental start date, the rental reservation will be subject to a 50% cancellation fee charged to the client's credit card.