Beyond equipment, The Cat Rental Store understands the activity of its customers: Risks. Uncertainty. The ups and downs. The team knows how hard customers work, and they are always willing to prove they will work so hard. 1. TYPE OF AGREEMENT. This agreement applies to the rental of the equipment described on page 1, including all parts and accessories (“equipment”). For the purposes of this agreement, “NMC” Nebraska Machinery Company, a Nebraska company, and “customer” refer to the person or entity identified as such on page 1, including a representative, representative, officer or member of the client`s staff. To the extent that this agreement is not inconsistent, the client`s request for an account with NMC is part of this agreement.
14. RETURN DATE. The customer`s right to own the device expires on the date indicated on page 1 of this Agreement or earlier, as stipulated in this Agreement. Keeping the device beyond the expiry of the life is a substantial violation of this agreement. Time is crucial. In the event that the customer wishes to extend this agreement beyond the due date indicated on page 1, the customer agrees to inform NMC of this wish before that date in order to obtain the agreement of NMC. In the absence of an agreed extension, the NMC customer pays 125% of the current daily rental rate, in addition to other fees and amounts set in this contract until the device is returned to NMC. 13. REMOTE SURVEILLANCE.
In the event that remote control devices are installed on the device, the customer recognizes that data about the device, its condition and operation can be transmitted to the manufacturer and the NMC. The information provided may include: serial number, equipment location and operational data, including error codes, emissions data, fuel consumption, hours of service and installed equipment. The customer agrees that the manufacturer and the NMC can access this data. Then you`re going to get to work. Visit catrentalstore.com to find out what Cat Rental can do for you. When the option to purchase is exercised, all payments made during the lease/rental period apply first to the payment of amounts incurred under this contract, including, but not exclusively, late or out-of-school fees, taxes, transportation, maintenance and repair costs, insurance and registration fees, and the option price. For the purposes of this agreement, the term “indexation rate” refers to the interest rate corresponding to the annual interest rate during a calendar quarter called “premium rate” by JP Morgan Chase on the first day of this calendar quarter and publicly announced from time to time. All changes to this index rate take effect on the first day of the calendar quarter following the calendar quarter in which JP Morgan Chase changes its policy rate. All interest is calculated on the actual number of days elapsed over a supposed year of 360 days.
Unless otherwise stated on the invoice and if no interest rate is indicated on the invoice, the interest rate for financed purchases is equal to that plus 400 basis points. The customer is liable to the company for any damage to the equipment during the life, regardless of the cause of the damage, and agrees to pay for the loss or repair of equipment damage that occurs during the duration of the agreement, whether such repairs are carried out by a company or by third parties, as the company determines.