« We automatically cover an insured item in the event of a dry rental to a third party, provided there is a lease agreement and the contract protects our bidding rights with respect to the tenant. This means that there is no non-damage in the agreement, » notes David. It is unlikely that you will want to be responsible for losses, theft or damage caused by the tenant to the equipment. Therefore, you should require the customer to compensate for the losses or damage they cause to the equipment. You should set the condition of the equipment in a dry rental contract. Here you have to determine who is responsible for the condition of the equipment. If it is the tenant, you may want the tenant to make a status report when the device is returned. It is important to outline specific risks related to your business to ensure that the tenant is responsible for all these risks. What if something happens to the shovel during the rental period? You should include in your agreement a term specifying how the equipment becomes the property of the tenant. It is important to include it in the rental agreement so that the tenant understands that you can use the security loan if you damage the equipment or if you do not return it on time. Here you can deduct the loan from any damage caused by the tenant. But if the customer also asks you to provide the services and staff to operate the AV equipment for the event, you have a wet rent. « A common problem with a claim is that policyholders do not have an extended dry rent clause in their policy.
This means that a right can be rejected or reduced, because our right to annulment is limited, » explains David. You may want a tenant to bring the equipment back to maintenance during the rental period. You can also specify that they must call upon an authorized third party for service and repair of the equipment while they are in their possession. The terms and conditions to be included in your lease depend on whether it is a wet or dry lease. This article explains the clauses you need to include in a dry lease to best protect your business. You don`t have time to run the shovel, but you want to avoid risk and grip as much as possible if you rent it to someone else. From the customer`s point of view, this is quiet, as they can rent devices with guaranteed reliability and efficiency. However, some leases involve a waiver of damage, which is a retrocessation in the agreement reached by the third party for a fee.
What is included in your contract depends on the products or goods that are leased. To find out what type of rent is right for you, you have to ask yourself: therefore, a dry rental contract is the right to rent the item or machine, and a water rental contract is the right to rent the machines and services that accompany it.