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CTR RENTAL CONTRACT DETAIL

 

THE FOLLOWING TERMS AND CONDITIONS FORM PART OF THIS CONTRACT:

The “Customer” agrees to rent from Canada Tech Rent Inc. (CTR), a company incorporated under the laws of the Province of Alberta, the “Equipment” listed above, under the following terms and conditions:

  1. EQUIPMENT IS OWNED BY CTR. Unless this contract gives the Customer an option to purchase the Equipment and Customer exercises that option, title and ownership of the Equipment including all hardware and software is and shall at all times remain vested with CTR, and the Customer shall have no right, title or interest therein except to use the Equipment on the terms of this contract. Customer shall leave attached an maintain on the Equipment any labels, plates or other identification marks and advise CTR if any become detached.
  2. INSURANCE. The Customer agrees to insure the equipment to the “List Value”, to name CTR as a co-insured, and in the event of any loss whatsoever, to pay CTR the List Value for the Equipment.
  3. EQUIPMENT IS PERSONAL PROPERTY. The Equipment shall at all times during the term of this agreement remain personal or movable property, regardless of the manner in which it is attached to any real estate.
  4. CTR reserves the right to, in its sole discretion, exchange at any time any item of the Equipment with another of the same or similar specification or model without charge to the Customer.
  5. LOCATION AND USE. The Equipment shall be located and used at the Location, and not elsewhere without the prior written consent of CTR. In the case of Equipment in which by its’ nature is portable, the Customer agrees to inform CTR of any locations where the Equipment may be transported. Customer may move and use Equipment to other locations only with the express written approval of CTR.
  6. NO REMOVAL OR ADDITIONS TO COMPONENTS. The Customer may not under any circumstances, remove, add or alter any parts or components within the Equipment itself, including, but not limited to, computer memory, fixed hard drives, component boards, or any other components that require removal of the other cover of the Equipment without the express written consent of CTR.
  7. TERMS, RENEWALS, AND EXTENSIONS OF AGREEMENT. The Customer agrees to rent the Equipment beginning on the “Due Out” listed above and ending on the “Date Due” above. CTR has the sole right to grant renewals and extensions of the term of the agreement. Regardless of the initial term, the term and conditions outlined in the agreement shall remain in force while the Equipment remains in the possession of the Customer. Should the Customer wish to renew this contract, the Customer will notify CTR in advance of the Due Date indicated on the front of this contract, and CTR at its option could refuse such extension.
  8. Equipment is F.O.B. CTR location, unless otherwise specified by CTR. The Customer agrees to pay delivery and insurance charges for Equipment in transit. Customer shall bear all risk of loss or damage to the Equipment after delivery to the carrier, who shall not be considered an agent of CTR.
  9. RETURN OF THE EQUIPMENT. The Customer shall at its cost return the Equipment to CTR by 1:00PM on the due date. If the Customer fails to do so, and CTR has not granted an extension or renewal of this agreement, CTR shall have the right to enter upon the premises where the Equipment is located and take possession of the Equipment, all without legal process.
  10. PAYMENT. The Customer agrees to pay CTR for all invoiced rental charges, including any late return charges, extension and/or renewal charge, supplies, services and applicable taxes. Payment is due upon invoice receipt. Further to the above, in the case of overdue charges, the Customer agrees to pay interest of 18% on all charges payable hereunder.
  11. NO WARRANTIES EXPRESSED OR IMPLIED. The Customer acknowledges that CTR is not the manufacturer of the Equipment and rents the Equipment to the Customer without any warranties or condition as to the quality of the Equipment or its suitability for a particular purpose; that the Equipment will achieve any particular results or satisfy any particular requirements of the Customer; that the Equipment will be compatible with or operate in a particular manner with other equipment or software.
  12. SOFTWARE AND DATA. Customer warrants that they have the license(s) for ALL application software installed on the rental computer. Customer is warned that data and software stored in computer memory can be lost in a variety of circumstances. It is the Customer’s sole responsibility to safeguard and follow prudent backup procedures to protect data and software, and to bear the risk of loss of data or software, however caused. Further to the above, the Customer shall not make or retain any copies of software or documentation supplied by CTR.
  13. CREDIT CHECK. CTR reserves the right to conduct an investigation of the Customer’s credit at any point while this agreement is in effect, subject to applicable legislation.
  14. DEFAULT. Customer is in default of the agreement if one or more of the following shall occur:
    1. Non-compliance with paragraphs 2,3,5,6,7,9, 10 or 13.
    2. The Customer shall become insolvent or bankrupt.
    3. In the case of the Customer being a corporation, beneficial ownership or control changes, or actions are taken to wind up the corporation.
  15. IN THE EVENT OF DEFAULT. In the event of default, CTR may take possession of the Equipment, and the Customer is liable for any unpaid rent due, as well as any and all additional costs incurred by CTR in such action.
  16. GOVERNING LAW. This agreement is governed by the laws in the Province of Alberta.

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