What to Know About a Rental Contract for Heavy Machinery

Posted By : Aubrey Mead , on Nov, 2015

 

Many industrial and agricultural jobs require heavy machinery for various applications. These machines can easily cost $20,000 or more. Because this is an amount many companies can’t afford, it’s a good idea to consider utilizing a Telehandler Rental in Baltimore MD. Take some time to become familiar with the basic components of a telehandler rental agreement. The following information will give more insight into this.

A contractor for a Telehandler Rental in Baltimore MD should contain the full legal name of both parties involved in the transaction. If more than two parties are involved, all relevant details should be listed for additional parties as well. The address and phone number of both parties should be stated on the rental agreement. Also, the physical location where the telehandler will be used should be listed. There may be more than one location to list on the rental agreement.

A telehandler can be rented for a flat fee or by the time period. A flat fee means one party will pay the owner of the telehandler a designated amount of money to rent the machinery. A rental period is stated as a unit of time such as a day, week, or month. The rental rate is figured by multiplying the unit of time by the rental rate per unit of time. Anything that exceeds this period could result in extra fees.

A telehandler rental agreement should state the party who is responsible for repairs and maintenance while the machine is being rented. Usually, the renter will be responsible for this. However, when damage occurs due to a manufacturing defect in the telehandler, the owner or producer of the machine will usually be liable for damages. A renter may be expected to have insurance on the machine while it’s being used. This use includes delivery and pick-up. Terms of the insurance should be listed on the rental agreement.

These are just a few of the basic factors covered in a rental agreement for a telehandler. Understanding all terms and conditions will help protect a renter’s financial interests. For information on the rental of telehandlers and other heavy machinery, please click here to view the website of Slaymaker Group. This company can handle the rental of equipment such as telehandlers, excavators, and boom lifts.

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