The term of this agreement shall commence on the date equipment is shipped out to the customer and shall continue until the equipment is received back at our office.
Each rental payment will be due PRIOR to FiberOptic.Com shipping rental equipment. The rental rate is as stated in the rental quote provided based upon dates in the rental agreement below. In the case of an extension, the customer must contact FiberOptic.Com and FiberOptic.Com will draft a new rental order and new rental agreement that conforms to the new rental period which need to be signed and returned. The customer will also prepay FiberOptic.Com for the extension time period. Any equipment overdue will be charged at a rate of 1/30 the monthly rate.
- AUTHORIZATION OF PAYMENT:
Renter authorizes FiberOptic.com to invoice or charge Renter’s credit card provided on the credit card authorization form for the amount outlined in the rental quote. Additionally, the Renter agrees that FiberOptic.com may use this credit card information contained in this or attached document (credit card authorization form) to collect on payments owed to FiberOptic.com which may arise after the signing of this document. These fees may include, but are not limited to, additional rent owed due to the late return of products rented or noncompliance with return of rental equipment. Renter also authorizes FiberOptic.com to charge the credit card outlined below or on attached credit card authorization form in collection of money owed to FiberOptic.com as a result of damaged or unreturned product.
All equipment is shipped out at the customer’s expense FOB Shipping Point. All shipping & insurance costs are to be prepaid directly to the carrier by FiberOptic.Com and added to the customers invoice. All equipment will be returned to FiberOptic.Com, insured to the full asset value of ___________ and paid for by the renter. Equipment must be packed and shipped back in the same way in which it was received. Customer schedules pickup or drop off with carrier of their choice.
FiberOptic.Com warrants only that the equipment, when delivered, will be in good operating condition. If any equipment requires repair or calibration, customer will immediately notify FiberOptic.Com and obtain FiberOptic.Com’s consent before equipment is returned. It will be FiberOptic.Com’s sole discretion to take remedial action to determine the repair, calibration, or replacement of any equipment that fails to meet the warranty. FiberOptic.Com will not be responsible for any delays or failures in making repairs or replacement due to the unavailability of parts, labor, logistics or any other unforeseen circumstances. Unless customer notifies in writing within 8 hours of receiving rental equipment, it will be assumed that such equipment was delivered in good working condition. The forgoing warranty shall not apply to any damages caused by accident, misuse, or abuse. FiberOptic.Com is NOT the manufacturer of any of our rental equipment and disclaims all other warranties, expressed or implied, including without limitation, any warranty of merchantability for any purpose or that the equipment will not infringe upon any patent or proprietary right of any third party.
Customer shall pay all taxes & other governmental charges assessed in connection with the rental, use, or possession of the equipment including without limitation, any and all sales and/or use of taxes and personal property taxes.
- USE OF EQUIPMENT:
Customer agrees to use the equipment in a careful and proper manner in compliance with all laws and governmental requirements as well as the suggested manufacturer’s instructions and specifications. Without prior written consent of FiberOptic.Com’s, customer will not sell, encumber, assign, sublet, remove, alter, modify, or repair the equipment. Customer will bear the entire risk of loss with the respect to the equipment and its use and shall provide FiberOptic.Com with proof. Customer shall indemnify & hold FiberOptic.Com harmless from any & all claims, liabilities, losses, costs and expenses arising out of the use, possession, operation, or rental of the equipment.
- RETURN OF EQUIPMENT:
Customer will return equipment to FiberOptic.Com in an insured shipment, in the same condition as when first received (ordinary wear & tear expected). Customer will properly pack & return in similar prepared container as first originally received. Customer will be responsible for, and pay FiberOptic.Com on demand, the new replacement cost of any lost or ‘materially damaged equipment’ (including accessories), as well as the cost of wear & tear. With respect to lost or ‘materially damaged equipment’, customer will be responsible for rental costs to the date of receipt by FiberOptic.Com of the full new replacement cost. As used herein, the term ‘materially damaged’ means damage to the equipment to such an extent that the cost to repair such equipment equals or exceeds 50% of the fair market value of the equipment at the time. Customer will indemnify and hold FiberOptic.Com harmless from all claims, liabilities, costs, and expenses, (including attorney’s fees) arising out of the non-return of equipment.
- DEFAULTS & REMEDIES:
Customer will be in default if it fails to pay any money owed to FiberOptic.Com, or fails to timely perform any other obligations to FiberOptic.Com, or if bankruptcy, or similar proceedings, under federal or state laws shall be filed by or against customer. Upon the occurrence of any default, FiberOptic.Com may at any time during the continuance thereof, and in addition to all other rights & remedies to FiberOptic.Com at law, or in equity, (1) terminate the rental of all products or equipment rented to customer under the agreement or otherwise, (2) require the customer to assemble & return all such equipment, or repossess all such products & equipment and/or (3) recover from customer all amounts payable hereunder. FiberOptic.Com will not have any duty to account to customer for the proceeds of any disposition of equipment subsequent to return or repossession. Customer will reimburse FiberOptic.Com for all costs & expenses incurred by FiberOptic.Com in enforcing its rights there under, including attorneys’ fees.