Backhoe Loader, Backhoe Waiver and Hold Harmless Agreement
Different types of excavating equipment, such as a backhoe or backhoe loader, may be cost prohibitive to own by companies or individuals that may need to use such equipment from time to time.
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In these cases, those who require rental equipment may turn to a rental company. In rental agreements, the rental company, also known as the lessor, must ensure that they are protected from financial loss due to damaged equipment, lost or stolen equipment, or in cases when a lessee fails to make payment for rental equipment. The Backhoe Loader, Backhoe Waiver and Hold Harmless Agreement app is a useful app that equipment owners, rental companies, and lessors can use to ensure that rental charges are clearly identified, a lease term is made clear, and that damage outside of normal wear and tear is the responsibility of the lessee. This rental contract also contains an indemnification and a hold harmless clause to protect the equipment owner if the terms and conditions of the rental agreement are violated. Additionally, the lessee in this agreement agrees to pay attorneys' fees that are incurred if the lessor must litigate a failure to pay rent, a failure to pay for loss or damage, or the replacement cost of destroyed equipment. When used by a leasing company or heavy equipment rental fleets, this app can reduce financial exposure and liability. The app is easily customized to include different terms and conditions to meet the need of a specific rental company.
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