Equipment Damage Waiver
I. Purpose and Scope
This Equipment Damage Waiver Agreement ("Agreement") is entered into by and between [YOUR COMPANY NAME], herein referred to as the "Owner", and the undersigned individual or entity, herein referred to as the "Renter", for the purpose of outlining the terms and conditions regarding the rental of equipment by the Renter from the Owner.
II. Waiver Details
The objective of this Agreement is to waive liability for damages to the rented equipment under certain circumstances, as outlined herein. This waiver is intended to protect both parties, [YOUR COMPANY NAME] (referred to as the "Owner") and the undersigned individual or entity (referred to as the "Renter"), from financial responsibility in the event of damage to the equipment during the rental period.
III. Equipment Description
The Renter agrees to rent the following equipment from the Owner:
[EQUIPMENT DESCRIPTION]
[SERIAL NUMBER(S)]
[RENTAL PERIOD]
IV. Terms and Conditions
Use and Care: The Renter agrees to use the rented equipment in a careful and proper manner, in accordance with any instructions provided by the Owner.
Responsibility for Damage: The Renter assumes full responsibility for any damage to the equipment, regardless of cause, excluding normal wear and tear.
Indemnification: The Renter agrees to indemnify and hold harmless the Owner from any claims, liabilities, damages, or expenses arising from the Renter's use of the equipment.
Reporting Damage: The Renter agrees to promptly report any damage to the equipment to the Owner and to cease use of the equipment until further instruction is provided.
Insurance: The Renter acknowledges that the Owner may require the Renter to obtain insurance coverage for the rented equipment and agrees to provide proof of insurance upon request.
V. Release and Waiver
The Renter releases and waives any and all claims, liabilities, damages, or losses arising from or related to the use of the equipment.
This release is in consideration of the rental of the equipment.
The waiver applies to the fullest extent permitted by law.
VI. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the [STATE/COUNTRY], meaning that any disputes or legal matters arising from or related to this Agreement will be interpreted and enforced based on the laws of that jurisdiction.
VII. Agreement Acknowledgment
The undersigned parties hereby acknowledge that they have carefully read and fully understood the contents of this Agreement. By affixing their signatures below, the parties voluntarily agree to abide by and be bound by all the terms, conditions, and provisions set forth herein.
VIII. Signatures
This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
[OWNER NAME]
[DATE]
[RENTER NAME]
[DATE]
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