Caterpillar Rental Agreement
Heavy equipment leasing is a practical and cost-effective solution for contractors, fleet equipment managers and construction company owners to get the right equipment at the right time, no matter what the task is. The flexibility of getting heavy equipment for unique orders is a great way to complement your existing fleet if you already have basic food. 7. PROPERTY. Ownership of the equipment remains with NMC at any time. This agreement is designed as a real lease agreement and not as a sales contract or a guarantee contract. Except in the case of a separate agreement signed by NMC, the customer has no option or right to purchase the device. All accessories, parts and spare parts added to the device or connected to the device are immediately transferred to NMC`s property and are considered part of the equipment and are subject to this agreement. NMC has the right to file funding returns (UCC-1) for informational purposes.
NMC may terminate the agreement without prior notice or prior consent from the customer. The client may not transfer or transfer this agreement or any interest under NMC`s written reservation without NMC`s prior written consent; b) subletting, transmitting or disposing of the device; (c) pawning, granting or otherwise incriminating the equipment; or (d) transfer or part of the possession, retention or control of the device. The customer must notify NMC without delay if the device is being taken from or against the threat of a seizure. Unless indicated on the invoice such as “non-charge agreement,” “loan contract” or “demonstration contract,” the customer agrees to pay the rental prices and/or business schedules, as indicated at the time of the start date of the period and as indicated on the invoice. Rent prices are based on a 10-hour day, a 50-hour week and a 200-hour 4-week day. All devices used by the customer for a “double layer” (i.e. 15 hours per day) are charged 1 1/2 times the corresponding daily, weekly or 4-week rental price. The device used by the customer for three-team work (24 hours a day) is charged twice the corresponding daily, weekly or 4-week rate. The company has the right to determine the use of overtime from time to time during the life and/or after the return of the device. Then you`re going to get to work.
Visit catrentalstore.com to find out what Cat Rental can do for you. 24. STANDARD. The customer is late if: a) the customer does not pay a rental fee when the payment is due; (b) the customer does not comply with or meet the terms or conditions of this agreement or any other agreement with NMC; (c) the customer or guarantor provides false or misleading information to NMC; (d) according to NMC, the device is damaged by improper use or non-compliance with the device beyond normal wear; (e) the client or guarantor of this agreement ceases to operate as a current business, makes a transfer to creditors or becomes insolvent; (f) requests, by or against the client or against a surety, bankruptcy proceedings or reorganization, insolvency, insolvency, liquidation, liquidation or similar relief; (g) an agent, beneficiary or liquidator is designated for the client or guarantor of this agreement, or for any or only substantial part of its assets or real estate assets; (h) the customer attempts to withdraw, sell, transfer, clutter, have partial possession or sublet it; (i) the issuance, seizure or seizure of the aircraft or loss, theft, significant damage or destruction of the aircraft, or substantial impairment, with exceptional wear and tear; (j) NMC notes, at its sole discretion, that significant changes have been made to the client`s financial situation; or (k) each surety dies.