1. Equipment Rental Rates
Rental Rates are determined case-by-case based off of relative book values. Rental rates are calculated based off of an 8-hour day, 56 hour week, and 224 hour month. All monthly cycle-billings are calculated and invoiced off of a 28-day cycle period. Overtime charges may be assessed once equipment returns from rental project. Agreements need to be put in place for offshore projects prior to each rental period to avoid standard overtime charges. The Rental Term begins at the contract opening time unless specified by the customer and ends upon return of equipment.
2. Freight on Equipment
Gulf America will provide the Customer with delivery and pickup to any/all local yards within a 30-mile radius for $50.00 each direction unless specified and negotiated prior to contract filing. Rates will increase based on load-size, permits, and additional distance or special handling requirements. All dock deliveries will be inclusive of “stand-by” time adding an extra $50/hour if any wait time arises during that period.
3. Rental Recapture & Equipment Purchases
Gulf America will consider a reduction in a used equipment sales price of 75% of one-month rental charges toward the subsequent purchase of any equipment that a Customer may wish to purchase that has been on rent for a period of not less than 6 months. All/Any Equipment purchase requests will be taken into consideration on a case-by-case basis between Gulf America and Specified Customer. If this Contract identifies any Equipment, materials or other items that is to be purchased by Customer, Gulf America sells and delivers such items to Customer on an “AS IS, WHERE IS” basis, with all faults and without any warranties (other than manufacturer warranties, if any) in consideration for Customer’s payment to Gulf America of the full purchase price of the item, Gulf America retains title to the item until Customer has paid in full.
4. Swap-out Exchange Policy on Rental Gear
In the event of equipment malfunction (within the first week of the project), Gulf America will swap-out or exchange any equipment delivered to the customer without any additional charges, provided that the equipment failure is not due to abuse, neglect, or operator error(s). Equipment must be returned within a 72-hour period to avoid any additional charges.
5. Fuel Charges
Gulf America Rentals sends all rental equipment out fully fueled with “offroad diesel”. A separate fuel charge will be applied to any/all equipment that is returned missing greater than 3 gallons of fuel. The fuel charge varies with the average pump price. An additional $2.00 above pump price will be included on refueling to incorporate storage and environmental fees.
6. Equipment Repair Policy
In the event that a piece of Equipment is returned damaged due to abuse and/or neglect, Gulf America will charge the Customer as follows: {All Rates are not final}
Large Equipment: $95/hour straight time
Large Equipment: $135/hour over time
Small Equipment: $45/hour straight time
Small Equipment: $75/hour over time
7. Off Rent Policy
Gulf America must receive a written off-rent notification from the Client/Customer via email. The manifest must include all of the relevant job information along with each piece of rental equipment’s serial number. The rental contract will be placed on hold at the time of notification with that equipment being stopped per Customer’s request. All equipment will be subject to a thorough inspection for damages or neglect, missing fuel, etc. before generating an invoice. All invoices are final once a start and stop date notification has been given. Equipment returned excessively dirty, missing decals, or with overspray may incur additional charges.
8. Equipment Responsibility
All rental gear goes out fully-serviced to the customer’s yard or dock location. One set of PM filters will be provided (free of charge) if requested by the customer. The renter shall be responsible for any necessary maintenance on equipment while it is in their care. Gulf America sells all parts and supplies necessary to keep the units maintained while on long projects. The renter shall not alter or tamper in any way with the equipment without written consent from a Gulf America Representative.
9. Sub-renting & Additional Needs Consideration
Gulf America will provide sub-rentals to customers in the unfortunate event that a machine, tool, or equipment is not available for rent at the time of the order. A pre-negotiated price will be provided for approval before delivering the specified unit. Gulf America will also consider adding fleet to its’ inventory at a customer’s request if the equipment is within economical terms and fits the companies profile.
10. Hours of Operation
Gulf America Rentals and its’ multiple divisions operate on a true 24/7 schedule. Normal hours of operation are Monday through Friday 7:00am – 5:00pm. Callouts will be taken on a case-by-case basis and discussed prior to rental agreements being formed.
11. Payment
Customer shall pay amounts due, without any offsets, in full at the time of rental, unless Gulf America approves Customer’s executed credit application (credit customers must pay, upon receipt of Gulf America’s invoice or within a 45 day pay term). Customer must notify Gulf America in writing of any disputed amounts, including credit card charges, within 15 days after the receipt of the invoice/contract or Customer shall be deemed to have irrevocably waived its right to dispute such amounts. At Gulf America’s discretion, any credit account with a delinquent balance will be subject to a loss of agreed discounted rates, may be placed on a cash basis, deposits may be required and the Equipment may be picked up without notice. Due to the difficulty in fixing actual damages caused by late payment, Customer agrees that a service charge equal to the lesser of 1.5% per month or the maximum rate permitted by law shall be assessed on all delinquent accounts, until paid in full. Customer shall pay a fee of $75 for each check returned for lack of sufficient funds to compensate Gulf America for its overhead for processing missed payment. Deposits will only be returned after all amounts are paid in full. Customer agrees that if a credit card is presented to pay for charges or to guarantee payment, Customer authorizes Gulf America to charge the credit card all amounts shown on this Contract and charges subsequently incurred by Customer, including but not limited to, loss of or damage to the Equipment and extension of the Rental Period.
12. Insurance
During the Rental Period, Customer shall maintain, at its own expense, the following minimum insurance coverage: general liability insurance of not less than $1,000,000 per occurrence, including coverage for Customer’s contractual liabilities. Such policies shall be primary, non-contributory, on an occurrence basis, contain a waiver of subrogation, name Gulf America and its agents as an additional insured (including an additional insured endorsement) and loss payee, and provide for Gulf America to receive at least 30 days prior written notice of any cancellation or material change. Customer shall provide Gulf America with certificates of insurance evidencing the coverages required above prior to any rental and any time upon Gulf America’s request.
13. Default
Customer shall be in default if Gulf America deems itself insecure or if Customer: (a) fails to pay sums when due; (b) breaches any Section of this Contract; (c) becomes a debtor in a bankruptcy proceeding, goes into receivership, takes protection from its creditors under any insolvency legislation, ceases to carry on business, or has its assets seized by any creditor; (d) fails to insure the Equipment as required, or otherwise places the Equipment at risk; (e) fails to return Equipment immediately upon Gulf America’s demand; or (f) is in default under any other contract with Gulf America. If a Customer default occurs, Gulf America shall have, in addition to all rights and remedies at law or in equity, the right to repossess the Equipment without judicial process or prior notice. Customer shall pay all of Gulf America’s costs, including reasonable costs of collection, court costs, attorneys and legal fees, incurred in exercising any of its rights or remedies herein. The use of false identification to obtain Equipment or the failure to return Equipment by the end of the Rental Period may be considered theft, subject to criminal prosecution and civil liability where permitted, pursuant to applicable laws. Gulf America shall not be liable due to seizure of Equipment by order of governmental authority.
CUSTOMER WAIVES ANY RIGHT OF ACTION AGAINST GULF AMERICA ENTITIES FOR SUCH REPOSSESSION.
