Terms & Conditions
CIRCLE T SERVICE & RENTAL LTD.
TERMS AND CONDITIONS
- Current prices are effective as of February, 2013. Prices subject to change without notice.
- Accrued rental charged, cannot be applied against the purchase price of tools, pipe or equipment.
- The rental period shall commence on and include the date of delivery of the equipment at the Lessor’s shipping point to the Lessee, its agent or carrier. The rental period shall end on and include the date of the actual delivery of the equipment to the Lessor at the Lessor’s shipping point from which the equipment was first shipped. In calculating the rental period, twenty-four hours or any part of thereof, constitutes one full day.
- Payment of rentals is due and payable to the Lessor within thirty days of the date of invoice from the Lessor to the Lessee. All overdue payments shall bear interest at the rate of 18 percent per annum (1.5 % per month)
- The Lessee shall pay all shipping charges from and to the Lessor’s shipping point, unless otherwise stipulated.
- If, in the sole discretion of the Lessor, the equipment is being subject to damage or loss by reason of the Lessee’s use of that equipment, or if the equipment is in danger of being seized, distained upon or otherwise being subject to legal process of extra-judicial process, then in every such instance, the Lessor, at its option, shall have the right to remove the equipment from the possession of the Lessee without notice to the Lessee, and this Agreement shall terminate upon the Lessor regaining possession of the equipment. Notwithstanding termination of this agreement as provided herein, the obligations of the Lessee as set forth in clauses 1, 2, 5, 6 and 7 of this agreement shall survive the termination of this agreement and are enforceable by the Lessor against the Lessee.
- The Lessee shall promptly upon receipt of the equipment, inspect the equipment and shall not use or rely upon the equipment without such inspection. The Lessor makes no warranty, whatsoever, whether express, implied by law, or otherwise, as to the quality or fitness of the equipment for any particular purpose; nor as to the quality of the performance of the equipment. The Lessee shall not remove, alter or disfigure any identification insignia displayed upon the equipment and shall see that the equipment is not subject to careless or needlessly rough usage. The Lessee shall pay all expenses of operating the equipment. The Lessee shall, at the Lessee’s own expense, maintain the equipment and make all repairs and replace all broken or worn parts and keep the equipment in good condition and working order.
- The Lessee agrees to indemnify and save harmless the Lessor of and from any damage to or loss of equipment during the term hereof, however occasioned. The Lessee agrees to keep the equipment insured in the name of the Lessor at the Lessee’s expense against damage or loss of the equipment in the full replacement value of the equipment, and the Lessee shall also carry public liability insurance in the names of the Lessor and the Lessee in the minimum amount of $2,000,000.00, and the Lessee shall carry such added or extended insurance coverage as is usually carried by operators of similar equipment. The Lessee shall furnish to the Lessor within seven days of the Lessor’s written request, evidence of its compliance with this provision. The Lessee further agrees to indemnify and save harmless the Lessor against any and all claims, costs and expenses of any manner arising from the Lessee’s use or possession of the equipment. If the Lessee fails to insure the equipment as hereinbefore provided, the Lessor may but is not obligated to place such insurance upon the equipment, and the Lessee agrees to pay as additional rent the premiums of such policy or policies of insurance.
- Title to the equipment remains at all times vested in the Lessor, and nothing contained herein shall be construed to create anything other than the relationship of Lessor and Lessee between the parties. The Lessee agrees not to assign this lease or any interest herein, or mortgage or hypothecate this lease any interest therein, sublet the equipment, or make any alterations of or additions or improvements to the equipment, or permit the use of the equipment by any person other than the Lessee or the Lessee’s employees, without the written consent of the Lessor first hand obtained. Consent to any of the foregoing prohibited acts shall apply only in the given instance and a further like act by the Lessee or the Lessee’s assignee or sub competent to operate the equipment. The Lessee shall comply with and conform to all current and future laws, ordinances and regulations which in any way relate to the ownership, possession, use or maintenance of the equipment. The Lessee shall indemnify and save harmless the Lessor from any breach of this covenant.
- If the Lessee becomes bankrupt, or fails to maintain and operate the equipment in accordance with the terms of this lease or fails to return the equipment upon the demand of the Lessor or fails to make the rental payment within thirty days of being invoiced for the same, or violates any other provision of this lease, the Lessor may terminate the lease, retake possession of the equipment without liability of any kind and recover all rentals due and full damages for any injury and all expenses incurred in obtaining the return of the equipment.
- The Lessee agrees to pay the Lessor the new replacement cost of any equipment which the Lessee is for any reason unable to return to the Lessor at the end of the rental period or for any equipment which is damaged beyond repair. All repair and inspection costs will be the responsibility of the Lessee.
- A 1.9% Environmental & Industry Compliance Charge will be applied against all Circle T Service & Rental Ltd. Invoices to a maximum of $950.00, excluding taxes. For rental equipment transferred from location to location and not returned to Circle T Service & Rental Ltd. The environmental charge will only be applicable until the maximum charge has been reached.
- It is understood and agreed that the terms of this document comprise the entire agreement pertaining to the lease of equipment and not other agreements of any kind, verbal or otherwise, will be recognized, unless such other agreement is in writing and executed by and authorized officer of the Lessor.
- This agreement shall be governed by the laws of the Province of Alberta, Canada.
TERMS: Net Cash – No Discount. All charges are due and payable at office of the Lessor in Red Deer Alberta, on the 20th of the month following date of invoice with interest at 18% charged after 30 days.