Terms & Conditions of Rental/Lease
PLEASE READ THE FOLLOWING TERMS AND CONDITIONS OF RENTAL CAREFULLY. The following are Terms and Conditions of Rental between A Biomedical Service INC. and all Lessors.
Effective as of 10/01/2019
1. Rent
Customer agrees to pay rent at the rates specified in their Rental Agreement for the rental of the Equipment indicated. All payments are due 30 days from the date of invoice. A rental period begins when the Equipment is delivered to the Customer and ends on the earlier of either the date Customer requests that the Equipment be picked up or the date the Equipment is actually picked up.
2. Commencement Date
Week of Delivery, Extension of rental period will be billed on a per month needed basis. This Agreement shall be deemed null and void unless signed by authorized representatives of both parties on or before Delivery.
3. Equipment Location
Equipment shall be delivered to the “Location of Equipment” as specified in Rental Agreement and shall not be removed from said location without A Biomedical Service INC.’s express written consent. If no location is specified, the Customer’s billing address shall be deemed the “Location of Equipment.” A Biomedical Service INC. reserves the right to inspect the Equipment at any reasonable time. Customer, upon request by A Biomedical Service INC. shall promptly make Equipment available for periodic maintenance, upgrade, repair, or inspection as necessary.
4. Disputed Invoices
If Customer disputes any matter on an invoice received from A Biomedical Service INC. (i.e. incorrect rental rate, incorrect delivery or pickup date, etc.) that dispute must be submitted in writing to A Biomedical Service INC. within 30 days of the date of the invoice. Failure to submit such a dispute within this time-frame shall be deemed an admission by Customer that the invoice is correct.
5. Ownership: Personal Property
Title to the Equipment shall remain with A Biomedical Service INC. at all times and Customer has no right or interest in it except as expressly set forth herein. Customer shall keep the Equipment free and clear of all security interests, liens and encumbrances. The Equipment is and shall at all times remain personal property or improvements thereon. Customer shall bear all risk of loss, theft, damage or destruction of the Equipment from the time the Equipment to delivered to Customer until it is returned to A Biomedical Service INC. The Equipment shall be returned to A Biomedical Service INC. when the rental term has ended in the same condition as when originally rented, reasonable wear and tear excepted. If any Equipment is lost, Customer shall pay to A Biomedical Service INC. an amount equal to the Fair Market Value of the Equipment, as reasonably determined by A Biomedical Service INC., regardless of the length of time the Equipment has been rented.
6. Taxes
Customer shall pay all charges and taxes (local, state, and federal) incurred with respect to the Equipment which may now or hereafter be imposed or levied upon the rental, possession or use of the Equipment, excluding, however, all taxes on or measured by A Biomedical Service INC.’s income.
7. Assignment; Offset
Customer may not assign, transfer, or sublet any interest in this Equipment Rental Agreement or the Equipment without A Biomedical Service INC.’s prior written consent. A Biomedical Service INC. may assign this Rental Agreement or grant a security interest or other lien on the Equipment, or both in whole or in part at any time without notice to Customer. Customer shall not assert against assignee any defenses, counterclaims, or offsets Customer may have against A Biomedical Service INC..
8. Late Payment Charges Interest
Customer shall pay interest on any late payment from the due date thereof until the date paid at the lesser of 1-1/2% per month or the maximum rate allowed by law.
9. Default
Without prejudice to A Biomedical Service INC.’s other remedies at law, in equity, or otherwise provided herein, if Customer fails to pay when due any amount required herein or under any other rental agreement or other agreement with A Biomedical Service INC., or if Customer fails to perform any other obligation hereunder or thereunder and such failure continues for ten days or more, A Biomedical Service INC. shall have the right to exercise any one or more of the following remedies:
A. A Biomedical Service INC. may take possession of any or all items of Equipment, which possession shall not terminate Customer’s obligations under this Rental Agreement; and/or
B. A Biomedical Service INC. may recover from Customer, with respect to any and all items of Equipment, and with or without repossessing Equipment, the sum of all Rental Payments and other amounts due.
10. Expenses and Attorney’s Fees
Customer shall pay A Biomedical Service INC. all costs and expenses, including reasonable attorney’s fees, A Biomedical Service INC. incurs in enforcing any of the terms, conditions, or provisions hereof.
11. Insurance
Customer will maintain physical damage and liability insurance covering the Equipment in the name A Biomedical Service INC. and Customer in such amounts and in such form as Customer would in the prudent management of its properties maintain with respect to similar equipment owned by it. In all events, Customer will maintain insurance against all risks of physical damage to the Equipment as provided under a standard all-risk policy in an amount not less than the replacement value of the Equipment. Each such insurance policy shall provide that the proceeds thereof will be payable to A Biomedical Service INC. and Customer as their respective interests shall appear and that the insurer will give A Biomedical Service INC. at least 20 days prior written a notice of any alteration in the terms of such policy or the cancellation thereof. Customer shall, at A Biomedical Service INC.’s request, furnish a certificate of insurance evidencing such coverage.
12. Indemnification; Compliance with Laws
Customer hereby agrees to indemnify, defend and hold harmless A Biomedical Service INC., its officers, directors, employees and agents from any and all claims, liabilities, damages or expenses, including reasonable attorney’s fees and costs, arising from Customer’s use of the Equipment except in situations where such claims arise solely out of A Biomedical Service INC.’s negligence. Customer agrees to comply with all federal, state and local laws and regulations (“Laws”) as such Laws relate to this Agreement, including but not limited to any requirement Customer may have to fully and accurately report to the Department of Health and Human Services or any state agency any discount provided to Customer by A Biomedical Service INC.
13. Governing Law and Jurisdiction
This Agreement shall be governed by the laws of the State of California. Exclusive jurisdiction with respect to any dispute pursuant to this agreement shall be either in federal court or state court in Fresno County, California.
14. Shipping
All shipping charges are borne by the customer and billed in the first and last rental month. For long-term rental contracts, A Biomedical Service INC. may agree to pay shipping and handling charges.
15. Miscellaneous
This instrument constitutes the entire agreement between the parties as to the subject matter contained herein, and it shall not be amended, altered, or changed, except by a written agreement signed by the parties hereto. No provision of this Equipment Rental Agreement can be waived except by A Biomedical Service INC.’s written consent. If more that one renter is named in the Rental Agreement, liability shall be joint and several. If A Biomedical Service INC. so requests, Customer shall execute such documents as A Biomedical Service INC. shall request or require and Customer authorizes A Biomedical Service INC. to do all other acts which A Biomedical Service INC. may reasonably deem necessary to protect A Biomedical Service INC.’s interest hereunder, Customer acknowledge that its signatory to this agreement has been fully authorized to sign this Agreement on behalf of Customer.
