FiberOptic Resale Corp Rental Terms & Conditions
TERM: The term of this agreement shall commence on the date equipment is shipped from FiberOptic Resale Corp and shall continue thereafter until the expiration of the original term and the equipment is returned to FiberOptic Resale Corp in accordance with rental terms. The term "equipment" means all hardware, software, manuals, accessories, patchcords, mating sleeves, pens, paper, options, containers, cables, and packaging material related to the products set forth on the FiberOptic Resale Corp quotation.
RENTALS: The obligation to pay rentals shall begin on the ship date and continue for the term of this agreement or until equipment is received back at FiberOptic Resale Corp, whichever is later. The rental rate is as stated in the rental agreement. In the case of an extension, the customer must inform FiberOptic Resale Corp. Rental charges will be billed to the customer using the same method of payment as original rental. However, if the original rental was issued on net terms and the charge for the extension exceeds the customer's credit limit, the rental charges will be applied to the credit card given as security prior to original rental. If credit card is declined for any reason, the equipment is due back the next business day after notification of the declination or on the termination date of the original rental term. Any equipment overdue may be charged at the daily rate. Overdue accounts are subject to a 2% monthly finance charge due on demand.
FREIGHT: All equipment is shipped at customers expense FOB. All shipping and insurance costs are to be paid directly to the carrier by FiberOptic Resale Corp and added to the customer's invoice. All equipment shall be returned to FiberOptic Resale Corp, insured to the full asset value.
TAXES: 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 taxes and personal property taxes. Where applicable, such taxes will be added to the invoice.
FiberOptic Resale Corp WARRANTY: FiberOptic Resale Corp warrants only that the equipment, when delivered will be in good operating condition. If any equipment shall require repair or recalibration, customer shall immediately notify FiberOptic Resale Corp and obtain FiberOptic Resale Corp consent before any remedial action is taken or any equipment is returned. The sole obligation of FiberOptic Resale Corp under the foregoing warranty shall be to repair, recalibrate or, at its option, replace any equipment that shall fail to meet the warranty, and such obligation shall constitute the sole and exclusive remedy of customer. IN NO EVENT SHALL FiberOptic Resale Corp BE LIABLE TO CUSTOMER FOR ANY CONSEQUENTIAL OR INCIDENTAL DAMAGES, SUCH AS ANY LOSS OF REVENUES OR USE OF ANY EQUIPMENT OR DAMAGE TO OTHER EQUIPMENT, COST OF SUBSTITUTE EQUIPMENT, OR DOWNTIME COSTS. FiberOptic Resale Corp shall not be responsible for any delays or failures in making repairs, recalibration or replacement due to unavailability of parts or labor, strikes, delays in transportation or other causes beyond its reasonable control. Unless customer gives FiberOptic Resale Corp written notice of any defect within 24 hours after receipt of each item of equipment, it shall be conclusively presumed that such equipment was delivered in good condition. The foregoing warranty shall not apply to any damage to equipment caused by accident, misuse or abuse. FiberOptic Resale Corp is not the manufacturer of the equipment and disclaims all other warranties, expressed or implied, including without limitation, any warranty of merchantability or fitness for any particular purpose or that the equipment will not infringe upon any patent or proprietary right of any third party.
USE OF EQUIPMENT: The Customer shall not use the Equipment in other locations without first having notified FiberOptic Resale Corp. Customer shall use the equipment in a careful and proper manner in compliance with all laws and other governmental requirements and the manufacturer's instructions and specifications. Without the prior written consent of FiberOptic Resale Corp, customer shall not sell, encumber, assign, sublet, remove, alter, modify, or repair the equipment and the Equipment shall at all times remain under the immediate control, supervision and direction of the Customer personally. The Equipment is and shall remain at all times the sole and exclusive property of FiberOptic Resale Corp. The Customer agrees not to remove or cover any tag or nameplate on the Equipment showing ownership by FiberOptic Resale Corp. Customer shall bear the entire risk of loss or damage to the equipment from any cause and shall be responsible for procuring insurance coverage with respect to the equipment and its use and shall provide FiberOptic Resale Corp with proof. Customer shall indemnify and hold FiberOptic Resale Corp harmless from any and all claims, liabilities, losses, costs, and expenses (including reasonable attorneys' fees) arising out of the use, possession, operation, or rental of the equipment.
INSURANCE: Customer shall keep the equipment insured against all risks of loss or damage from every cause whosoever for not less than the full replacement value thereof; and shall carry public liability and property damage insurance covering the equipment and its operation and handling.
RETURN OF EQUIPMENT: Customer shall return the equipment to FiberOptic Resale Corp, shipment insured, in substantially the same condition as when first received, ordinary wear and tear excepted. Customer shall properly pack for shipment all equipment being returned and shall be responsible for any damage caused during the return shipment. Customer shall be responsible for, and pay to FiberOptic Resale Corp on demand, the new replacement cost of any lost or "materially damaged equipment" (including accessories), as well as the cost of wear & tear or damage. With respect to lost or "materially damaged equipment", customer shall be responsible for rentals to the date of receipt by FiberOptic Resale Corp of the full new replacement cost. 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 that time. If the equipment is missing or damaged to a lesser extent, Customer will pay to FiberOptic Resale Corp upon demand the diminished value of the equipment once it is ascertained. The acceptance of the return of rented Equipment is not a waiver by FiberOptic Resale Corp of any claims that it may have against the Customer, nor a waiver of claims for any damages to the Equipment. Customer shall indemnify and hold FiberOptic Resale Corp harmless from all claims, liabilities, costs, and expenses (including attorneys' fees) arising out of the use, possession, operation, rental or non-return of equipment.
SECURITY DEPOSIT: Any security deposit paid by Customer to FiberOptic Resale Corp is paid to guarantee Customer's full and faithful performance of all terms, conditions, and provisions of this Agreement. A valid credit card pre-authorization may be required and/or used in place of security deposit. If Customer shall so perform, an equal sum shall be repaid without interest to Customer at the termination of this agreement.
DEFAULTS & REMEDIES: Customer shall be in default if it fails to pay any money owed to FiberOptic Resale Corp, or fails to timely perform any other obligation to FiberOptic Resale Corp, or if any bankruptcy or similar proceedings under federal or state laws shall be filed by or against customer. Upon the occurrence of any default, FiberOptic Resale Corp may at any time during the continuance thereof, and in addition to all other rights & remedies to FiberOptic Resale Corp at law or in equity, (1) terminate the rental of all products or equipment rented to customer under the agreement or otherwise, (2) require customer to assemble and return all such products or equipment, or repossess all such products or equipment and/or, 3) recover from customer all amounts payable thereunder. FiberOptic Resale Corp shall not have any duty to account to customer for the proceeds of any disposition of equipment subsequent to return or repossession. All rights and remedies of FiberOptic Resale Corp on default are cumulative and may be exercised simultaneously or successively. The failure to insist upon strict compliance with the terms and conditions of this agreement, even after a breach of any provision or after default, shall not be construed as a waiver of any of FiberOptic Resale Corp's rights under this agreement. The acceptance of any rent or other payment, or any portion thereof, after a default by the Customer shall not be deemed to operate as a waiver of FiberOptic Resale Corp's right to enforce the payment of rent or other payments herein provided for, or to terminate this agreement and recover possession of its Equipment. Customer shall reimburse FiberOptic Resale Corp for all costs and expenses incurred by FiberOptic Resale Corp in enforcing its rights hereunder, including reasonable attorneys' fees. This agreement contains the entire understanding between the parties, including representation, and may not be modified except by another agreement in writing, signed by both parties to this agreement.
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Please inspect equipment for proper operation immediately. Failure to notify FiberOptic Resale Corp of defects within 24 hours of receipt will result in FiberOptic Resale Corp presumption that Customer has fully inspected and acknowledged that the equipment is in full compliance with the terms of this agreement, and Customer is satisfied and has accepted the equipment in good condition and repair.
FiberOptic Resale Corp charges a minimum of $150.00 for missing accessories. Please see attached check list to verify accessories shipped with this rental.
To avoid any charges for damaged or missing items, please notify FiberOptic Resale Corp of any discrepancies within 24 hours of receipt of this equipment.
If you have any question on the operation of this equipment please contact the Equipment Rental Division of FiberOptic Resale Corp at 623-292-3100.
Please return this equipment to one of the following addresses:
FiberOptic Resale Corp
Equipment Rental Division
21 Technology Way
Nashua, NH 03060
By Customer accepting and signing below, Customer agrees to and accepts the following conditions:
___ I have read, understand and agree to the terms and conditions of this rental agreement.
__ I certify that I am a legal agent for the company listed below and that I am authorized to make such agreements.
Signature: ______________________________________ Date: ________________
Printed Name: ___________________________________ Date: ________________