This Rental Agreement is made effective as of _____________ (Date), by and between __ ____________corporation organized and registered under the law of the United States with its place of business located at Rentmypowertools.com (the “Company”) and __________  (“Customer”). Collectively the Company and the Customer are known as “Parties”. 

WHEREAS, the Parties believes it is in their best interests to express in this written Agreement their understandings regarding the rental services for the power tools leased to the customer in accordance with the terms sets forth below.

NOW, THEREFORE in consideration of mutual covenants, promises and other good and valuable consideration contained in this Agreement and the receipt of which is hereby acknowledged, the Parties agree as follows:

 

1.      DESCRIPTION OF THE POWER TOOL

(As outlined in the invoice)

 

2.      TERM

The term of this Rental shall begin upon delivery of the Power tools to the Customer at their agreed location and shall continue until they are returned to the Company or to FedEx for delivery to the company unless terminated by either Party.

 

3.      TERM OF USE

1. Customer will use the Power tools in a careful, proper and lawful manner and only for the purpose for which it was rented and not for any other purpose.
2. Unless otherwise agreed upon by the parties, the Customer shall not alter, modify nor attach anything to the power tools which may cause damage to the functional capacities of the power tools. Customer shall return the equipment in the same perfect conditions it was delivered to the customer. Customer agrees to comply with all applicable. 
3. Customer agrees not to sublease the Power tools or use it for any commercial purposes unless a written permission is granted to them by the Company.
4. Customer shall at their own expense ensure the safety of the power tool in their possession upon delivery. In the case of any defect upon delivery, the customer shall promptly inform the Company within 24 hours upon delivery before making any repairs the power tools. However, in the case of any repairs while the power tools is in the possession of the customer, the customer shall at their own expense ensure good repairs and maintain the same working condition it was delivered to the Customer. Please note that, the Customer shall be responsible for any loss or damage to the power tools. 
5. Customer understands that late return of the Power tools will attract a daily fee until the tool is returned to the Company and will be billed separately. If the power tool is not returned to the Company or FedEx 30 days after the due return date, the Company shall take legal actions against the Customer.

 

4.      RENTAL FEE

In consideration for the use of the Power Tools, the Customer shall pay the Company the sum of $__________ as the Rental fees. All payments shall be made directly to the Company.

 

5.      SECURITY DEPOSIT

Customer will be required to provide a security deposit to the Company equal to 1 weeks rent in the event of loss or damage to the Power tools during the term of this Agreement.  The Company may, in lieu of collection of a security deposit, place a hold on a credit card in the same amount.  In the event of damage to the Power tool, the Company will apply this Security Deposit to defray the costs of necessary repairs or replacement.  If the cost for repair or replacement of damage exceeds the amount of the Security Deposit, Customer will be responsible for payment to the Company of the balance of this cost.

 

6.      REPRESENTATIONS AND WARRANTIES

1. The Company warrants that they are the legal owner of the power tools and acknowledges that all details provided hereunder are accurate.
2. The Company warrants that the power tools will be delivered in a good working and perfect condition.
3. Parties warrant that they have the power and authority to execute and perform their duties/obligations under this Agreement.
4. Parties warrant that they are not involved in any contract or planning to enter into any contract that will affect their performance of this Agreement.

 

7.      CONFIDENTIALITY

a.      The Parties (including their employees and agents) undertake that they shall not disclose or communicate to any party any confidential information relating to this Agreement or Contracts contemplated herein, which may come to their knowledge.

 

b.      The Parties further undertake to use their best endeavors to prevent the publication or disclosure of any information concerning such matters.

 

8.      OWNERSHIP RIGHTS

Customer understands that the Power tools are the property of the Company. The Title, copyright, intellectual property right and the distribution, resell rights of the intellectual property remains exclusively with the Company.

 

 

9.      ASSIGNMENT OF RIGHT

Parties under this Agreement shall not assign or transfer any rights and obligations under this Agreement to a third party without prior consent of the other.

 

10.  INDEMNIFICATION

The Customer shall indemnify and hold the Company harmless from and against any and all claims, losses, damages, costs, and expenses, including, without limitation, reasonable attorneys’ fees, arising out of or resulting from obligations of the Customer under this Agreement.

 

11.       FORCE MAJEURE

Neither party to this Agreement shall be liable for failure to perform any of its obligations hereunder if prevented from doing so by reason of force majeure.

 

12.   DISPUTE RESOLUTION

Parties will attempt to resolve any dispute arising out of or relating to this Agreement through a friendly negotiation amongst the parties. If the matter is not resolved by negotiation, the parties will resolve the dispute using the Alternative Dispute Resolution (ADR) procedure.

 

13.  Entire Agreement

The terms and conditions set forth herein constitute the entire agreement between the parties and supersede any communications or previous agreements concerning the subject matter of this Agreement.  There are no written or oral understandings directly or indirectly related to this Agreement that is not set forth herein.  No change can be made to this Agreement other than in writing and signed by both parties. Every provision of this Agreement is intended to be severable. If any provision is invalid for any reason whatsoever, such invalidity shall not affect the validity of the other clauses in this Agreement.

 

14.  GOVERNING LAW

This Agreement and the rights and obligations of the Parties hereto shall be governed, construed, and interpreted under the Laws of MD. All disputes relating to this Agreement shall be brought in this venue and no other.