EQUIPMENT HIRE CONTRACT
This Equipment Hire Contract ("Contract") is entered into this [Effective Date], (the "Effective Date") between [Provider's Name], with its principal place of business at [Provider's Address] ("Provider"), and [Client's Name], with its principal place of business at [Client's Address] ("Client").
Purpose:
The Provider, as outlined in this Contract, is in mutual agreement to rent out equipment or machinery to the Client. This agreement stipulates that the said equipment or machinery will be available to the Client for a duration that has been specifically determined and mentioned in the contract. Both parties must adhere to the terms and conditions outlined in the Contract in question, as failure to do so could lead to breaches with potential legal implications.
Equipment Details:
Description: The equipment to be rented is described as follows: A heavy-duty industrial generator capable of providing up to 1000 kW of power output.
Serial/Identification Number(s): Serial/Identification Number(s): GTR-2024-001, GTR-2024-002, GTR-2024-003
Condition: The equipment is rented in good working condition, and the Client acknowledges receipt in satisfactory condition unless otherwise noted.
Rental Term:
Commencement Date: The rental term shall begin on March 30, 2060.
Termination Date: The rental term shall end on September 30, 2060, unless terminated earlier as provided in this Contract.
Rental Fees:
The Client agrees to pay the Provider a rental fee of $500 per month for the rental term.
Payment shall be made monthly in advance.
Maintenance and Repair:
Responsibility: The Provider shall maintain the equipment in good working order throughout the rental term.
Reporting: The Client shall promptly report any malfunctions or damage to the equipment to the Provider.
Repairs: The Provider shall bear the cost of repairs and maintenance unless damage is caused by the Client's misuse or negligence.
Insurance:
Coverage: The Client shall obtain and maintain appropriate insurance coverage for the rented equipment throughout the rental term.
Proof of Insurance: The Client shall provide proof of insurance to the Provider upon request.
Liability:
Client's Liability: The Client shall be liable for any damage to the equipment beyond normal wear and tear, including damage resulting from misuse, negligence, or improper handling.
Limitation of Liability: In no event shall either party be liable to the other for any indirect, incidental, consequential, special, or punitive damages arising out of or in connection with this Contract.
Indemnification:
The Client agrees to indemnify and hold harmless the Provider from and against any claims, damages, liabilities, costs, and expenses, including reasonable attorney fees, arising out of or in connection with the Client's use or possession of the rented equipment.
Governing Law:
This Contract shall be governed by and construed under the laws of [Jurisdiction], without regard to its conflict of laws principles.
Signatures:
Both parties acknowledge that they have read and understood the terms and conditions of this Contract and agree to be bound by them.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed the day and year first above written.
[PROVIDER'S NAME]
[DATE SIGNED]
[CLIENT'S NAME]
[DATE SIGNED]
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