Terms and conditions for hiring equipment from a premises to other businesses
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What's a Terms and conditions for hiring equipment to another business, and when do you need it?
This is a straightforward terms and conditions of hire agreement between two businesses. It does not require signatures by the parties, so it must be prominently displayed and clearly presented to the hiring customer before the hire deal is struck, so that the customer is under no illusion about the terms on which the equipment is being hired.
Non-sign terms and conditions work well in situations where you are typically supplying relatively low-value equipment, perhaps at irregular time frames, but you do not need your key commercial terms to vary for each transaction, e.g. the hire services are pretty fixed in provision, and pricing and other arrangements probably don’t vary/invite negotiation and the overall trading relationship between the parties is not especially complex.
Some businesses choose to adopt a more substantive agreement to supply equipment for hire, which does require both parties to sign. (These tend to be for situations where substantial and (often) higher value terms and equipment are involved and the parties are negotiating these provisions on a more individually tailored basis to cover bespoke objectives, often with higher associated risk and there is a more involved relationship between the parties.)
Our standard template covers all the key essentials that you would expect a good hire agreement to contain, such as the relevant hire charges; how payment arrangements will work, (including whether a deposit is needed and what happens if payment is not made on time), how long the hire agreement will last; and what happens if the equipment is not returned on time; who will be responsible for the equipment, its condition and its suitability for the purpose intended – and whether inspections will be made – before, perhaps during and after the hire period. It also contains provisions for you to clarify who is liable for any problems that arise and what problems are covered, as well as who will be insuring the equipment during the hire arrangements.