In the construction industry equipment rentals are a key part of doing business. Renting construction equipment makes sense in a host of situations but especially when the job to be performed is unique – something the construction company may not be involved in again. For many contractors purchasing expense construction equipment for a single project is not a prudent business decision. On the other hand, for those construction companies who have construction equipment on hand, they may rent that equipment when it is not in use thereby creating an additional revenue stream. In both cases, it is important to have an equipment rental agreement in place before agreeing to rent construction equipment.
The primary reason to use a properly written construction equipment agreement in your business dealings is to protect your legal interests in the event the equipment is damaged, stolen, or otherwise not returned to its owner in substantially the same condition as when it was rented. While it is possible for construction contractors to simply use a template or standard contract, this type of agreement may not adequately protect your interests. Working with the experienced Boston based construction equipment lawyers at Calabrese Law Associates in will help ensure your legal interests are properly protected and that you will not be exposed to unnecessary liability or unexpected costs if a problem arises with your construction equipment rental. Utilizing our firm’s legal services will also ensure that you remain fully compliant with current construction contract and business laws.
Understanding Equipment Rental Agreements
Equipment rental agreements should clearly state the equipment rental fee; the duration of the rental (including the pickup and return date); whether delivery and pickup of the rented equipment will be provided by the lessor (i.e. the owner), including any fees for such services; a description of the equipment to be rented; the names of all parties involved; the rights, responsibilities, and liabilities of the parties for repairs, damage, and other mechanical failures that occur during the equipment rental term.
Our firm’s equipment rental agreement attorneys can help ensure your equipment agreement meets your needs and protects your legal and business interests. For example, when describing the equipment to be rented, our attorneys will ensure that all accessories and any detachable parts are included in the description to prevent any confusion later. Our firm will also include provisions in your equipment rental agreement that define how you can terminate the contract early should the need arise.
If you are the entity renting your construction equipment, an important issue our construction lawyers will address with you is any usage limits you would like to apply to the rental. Construction equipment and other types of heavy machinery are meant for heavy use, and most companies expect some wear and tear during a rental. However, you may want to add usage limits to ensure your equipment is not used in ways that would cause premature damage or wear to the machinery.
To discuss your contract needs with an equipment rental agreement attorney at Boston’s Calabrese Law Associates call or email us today. Our industry-leading legal services and comprehensive approach can help protect your business interests and your equipment, whether you are renting machinery or leasing your own equipment.