Rental Terms and conditions Customer agrees to pay rent, together with all other amounts due hereunder (together “Rent”), within 10 days following the invoice date without any deduction or set-off. Any amount not paid when due shall be subject to a late fee of 1.5% per month, 18% per annum. The “Term” of this Rental Agreement commences upon receipt of the Equipment by Customer and will terminate on the date that CTL receives such Equipment at a predetermined designated CTL facility. If an initial Rental Term is not stated in the rental agreement, such term shall be a minimum of 30 days and automatically renew for an additional 30 days. At the time of receiving the Equipment from CTL, Customer shall inspect the Equipment, and if satisfactory, shall accept the Equipment. Unless objected otherwise by Customer through verified notification to CTL, at the time of receipt of the Equipment, Customer shall be deemed to have unconditionally and irrevocably accepted the Equipment in good condition, good operating order and free of damage. Such Customer receipt of the Equipment will typically include a document evidencing such provided by CTL, but in absence of such document and/or in the absence of a documented rejection of the Equipment by Customer to CTL, Customer shall have been deemed to have accepted the Equipment in good order, as set forth above. MAINTENANCE; ALTERATIONS. Provided that there is no current Default by Customer, CTL shall be responsible for performing normal wear maintenance, on-site or at a location designated by CTL. Such services are to be performed during normal business hours (8:00am to 4:30pm Monday through Friday). Customer agrees to make the Equipment available to CTL during these normal business hours. Any maintenance performed by CTL outside of normal business hours will result in an afterhours surcharge. All other services performed on the Equipment by CTL other than normal wear maintenance will be charged to Customer at Customers existing labor rate, or at cost plus 15% if such work is performed by a CTL subcontractor/vendor. Customer shall not make any alterations or additions (including lettering, painting, and decals) to the Equipment, unless approved in writing by CTL. CTL and its agents shall have the right, upon same day notice, during normal business hours to enter the premises where the Equipment is located for the purpose of inspecting the Equipment. Upon request, Customer shall furnish current hubodometer readings, refrigeration unit hour meter readings and other Equipment use data as reasonably requested by CTL. USE AND OPERATION. Customer warrants and covenants that: (a) the Equipment shall be used only in the continental United States and Canada; (b) the Equipment shall not be operated by any person other than agents or employees controlled by Customer, each warranted to be a careful, dependable operator, not operating under the influence of alcohol or drugs, and duly qualified by any and all applicable state and federal law or authority, with a valid license to operate such Equipment; (c) Customer shall use each piece of Equipment as designated by its understanding between Customer and CTL, those being Road, Cartage or Storage, and any misuse by customer shall render all obligations by CTL to be suspended or terminated along with the implementation by CTL of applicable rate changes, if any, to be invoiced to Customer; (d) Customer shall notify CTL in writing within 15 business days following the change in the garage location of any Equipment; (e) Customer shall comply with all laws, statutes, regulations, rules, ordinances and orders of any governmental or quasi-governmental entity including, without limitation, the Federal Motor Carrier Safety Administration Rules and Regulations, affecting the use, operation or maintenance of the Equipment (collectively “Applicable Laws”); (f) Customer shall comply with the Equipment manufacturer’s loading limitations and avoid abusive handling and concentrated or excessive loads; (g) Customer shall provide CTL with any operation data as may be required by any governmental agency and such data shall be true and accurate; (h) Customer shall not tamper with, disconnect or otherwise interfere with the operation of the Equipment in any manner, including but not limited to any mileage hubodometer, refrigeration hour meter or other monitoring device associated with the Equipment and shall promptly report any malfunction of same to CTL; and (i) Customer shall not operate any Equipment that Customer has reason to believe is not in safe operating condition. In the event CTL incurs any fines, penalties, or levies, including tolls and parking citations, arising in connection with the Equipment during the Rental Term, Customer shall reimburse such amount to CTL together with a 15% processing fee incurred or a $75.00 fee, whichever is greater. If the Equipment has a GPS device Customer authorizes CTL to identify the location of Equipment as CTL deems necessary and Customer agrees not to remove or impair any such device. RISK OF LOSS; CASUALTY. From the Receipt Date of the Equipment by Customer and until the Equipment is returned to CTL, Customer shall solely bear the entire risk of loss including, but not limited to, damage, destruction, confiscation, or impoundment to the Equipment. If during the Rental term any Equipment becomes damaged beyond repair, is lost, stolen, or destroyed, or in the event of any condemnation or taking by a governmental authority, Customer shall promptly notify CTL. In such event of total Loss of the Equipment, the Equipment will stay on rent until Customer has paid CTL the Fair Market Value of the Equipment, as solely determined by CTL, and any other rent, fees or expenses owed by Customer to CTL including, but not limited to, titling, and other administrative costs with respect to the Equipment. At all times during the Term, Customer shall maintain, at its sole expense, the following insurance, by an Insurance company recognized and rated by AM Best with a rating of A or better: (a) Commercial Auto Liability insurance in the amount of no less than 1 million dollars per occurrence, (b) Commercial Auto Physical Damage Insurance in the amount of no less than the total amount of the value of the Equipment; (c) Commercial General Liability Insurance in the amount of no less than 1 million dollars per occurrence and; (d) Workers Compensation Insurance, with minimum legally required statutory coverage, which shall also include a Waiver of Subrogation in favor of CTL. There are additional Insurance requirements for the transport of Hazardous Materials in the Hazardous Materials paragraph to follow. Customer shall name CTL, its successors and assigns, sole loss payee and additional insured under such insurance policies by Endorsement to the Policies and on the Certificate of Insurance evidencing all such coverages. Each policy shall provide that the insurer will provide at least 30 days (10 days’ notice for failure to pay premiums) prior written notice to CTL of cancellation, and no policy shall contain a deductible of more than $25,000 for any liability or a $1,000 deductible for casualty or damage to the Equipment. Customer shall provide to CTL current certificates of insurance evidencing such insurance coverage, and copies of the insurance policies evidencing same. Each such insurance policy and certificate of insurance shall be in form and substance and from an insurer as set forth above. Customer appoints CTL as Customer’s attorney-in-fact to make and settle all insurance claims in CTL’s sole discretion, receive payment of and execute or endorse in Customer’s name all documents, checks or drafts therefor, take the proceeds thereof and apply the same to any damage or loss to CTL’s interests. If any insurance payment for damage or loss is insufficient to cover Customer’s obligations hereunder, Customer shall remain liable to CTL for the difference. HOLD HARMLESS. Customer shall defend, indemnify and hold harmless CTL, its employees, officers, directors, agents and assignees from and against any and all claims, actions, suits, proceedings, costs, expenses (including, without limitation, court costs, witness fees and attorneys’ fees), damages, obligations, judgments, orders, penalties, fines, injuries, liabilities and losses including, without limitation, actions based on strict liability arising out of or in connection with any matter involving each Rental Agreement and the Equipment including, without limitation: (a) any loss or damage CTL may sustain as a result of any damage to or loss of any Equipment due to any cause, including without limitation collision, fire, lightning, theft, explosion, flood; (b) any loss or damage resulting from the death or injury to, or damage to the property, including cargo, of any person as a result, in whole or in part, of the use or condition of any Equipment, whether arising in strict liability or otherwise; (c) any loss, claim, liability, damages, expense or disbursement, penalty or fine, disposal, remediation or corrective action cost, or forfeiture or seizure that may arise in whole or in part from the use or condition, actual or alleged, of any Equipment or the failure, actual or alleged, of Customer to use and maintain any Equipment or, as applicable, timely make it available for maintenance by CTL, as provided under the Rental Agreement and in compliance with Applicable Laws; (d) any claim, lien or liability arising from work performed or for materials supplied in connection with the operation or maintenance of any item of Equipment; and (e) Customer’s breach of its obligations under the Rental Agreement. HAZARDOUS MATERIALS. Except as permitted by way of a signed written Agreement between Customer and CTL, Customer shall not transport, load, or store in or on any Equipment, the following including, but not limited to, any medical wastes, hazardous wastes, infectious materials, poison gases, radioactive materials, or explosives, (“Restricted Materials”); provided that, Customer may use the Equipment for transportation of hazardous materials packaged for retail consumer sale. If CTL determines that Customer has used any Equipment for prohibited purposes without CTL’s written consent, CTL in its sole discretion may require Customer to purchase the Equipment at the CTL determined Fair Market Value or in the alternative CTL may require Customer, before return of the Equipment, to have the Equipment certified as being free of Restricted Materials by a certified third-party inspector, such inspector to be approved in advance by CTL. If permitted by CTL, any Equipment used to haul or store Restricted Materials will require Customer to maintain, in addition to the all the insurance required in this agreement, a policy for Environmental Impairment Liability or Pollution Liability with a minimum combined single limit of not less than five million ($5,000,000) per occurrence naming CTL and its assigns as additional insured on the Certificate of Insurance and by Endorsement to the policy. TAXES AND FEES. In addition to the Rent, Customer shall pay, or reimburse CTL for payment of, all fees, fines, penalties, sales and use taxes and other taxes (excluding personal property taxes) levied against or based upon the use of the Equipment under this Rental Agreement, along with any applicable expenses that CTL incurs processing same. The occurrence of one or more of the following shall constitute a Customer “Event of Default”: (a) Customer fails to pay any Rent within 10 calendar days following its due date or any other amount due under this Rental Agreement within 20 calendar days following notice of non-payment; and (b) Customer fails to perform any other term or condition of this Rental Agreement and such failure remains unremedied for more than 10 calendar days after CTL has requested Customer to perform. If Customers default arises due to noncompliance with Customer’s insurance obligations, or if Customer becomes insolvent or becomes subject to any bankruptcy proceedings, or if Customer defaults under any other agreement with CTL or any affiliate of CTL, such default shall become effective immediately regardless of whether notice is communicated to Customer by CTL. Upon the occurrence of an Event of Default, and in accordance with the aforementioned, CTL may, at its option and without demand or notice to Customer, do any one or more of the following, with or without terminating this Rental Agreement: (a) pay all amounts required to be paid or perform or cause to be performed all obligations required to be performed by Customer thereunder and charge Customer as additional rent, the amount paid and the reasonable value of all services performed therefor plus 15%; (b) suspend CTL’s maintenance and repair obligations; (c) enter upon any premises where Equipment is located and take immediate possession of the Equipment, or render such Equipment unusable, without demand or notice and without any court order or other process of law, and no such action shall constitute a termination of this Rental Agreement; or (d) require Customer at its sole cost to promptly return the Equipment to CTL at such locations as CTL may designate. No termination, repossession, or other act by CTL after default by Customer shall relieve Customer from any of its obligations hereunder. In addition, Customer shall pay to CTL on demand all other fees, charges, costs and expenses due to CTL, in connection with the enforcement of its rights hereunder including, but not limited to, reasonable attorneys’ fees. The remedies provided herein are cumulative. If CTL takes possession of any item of Equipment with other property contained in, upon or attached to the Equipment, CTL may take possession of such property and hold it in CTL’s possession or in public storage for the account and at the expense of Customer. At no time shall Customer acquire any right, title, or equitable interest in any Equipment other than the right to use the Equipment in accordance herewith. Customer shall not pledge or encumber any Equipment or in any manner whatsoever nor create or permit to exist any levy, lien, or encumbrance thereof or thereon except those created by or through CTL written consent. WARRANTY DISCLAIMER. Upon receipt of the Equipment, Customer acknowledges that the Equipment is in good and satisfactory condition. CUSTOMER AGREES THAT IT IS RENTING THE EQUIPMENT FROM CTL IN “AS IS, WHERE IS” CONDITION AND THAT CTL HAS MADE NO REPRESENTATIONS OR WARRANTIES AS TO ANY MATTER WHATSOEVER, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY AND/OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO ANY EQUIPMENT, MAINTENANCE OR REPAIR WORK AND CTL SHALL NOT BE DEEMED TO HAVE MADE, BE BOUND BY OR LIABLE FOR, ANY REPRESENTATION, WARRANTY OR PROMISE MADE BY THE EQUIPMENT MANUFACTURER. LIMITATION OF LIABILITY. CTL shall not be liable in connection herewith for incidental, special, indirect, consequential or exemplary damages of any kind including, but not limited to, lost profits and/or business interruption damages, suffered by Customer or any other person, including without limitation (i) loss or damage to personal property of Customer in the Equipment at any time, (ii) loss of business of Customer due to delay or failure to deliver or maintain the Equipment, and/or (iii) the failure of any Equipment to operate at any time. Customer shall defend, indemnify, and hold CTL and its affiliates harmless from and against all claims arising out of any such losses or damages. CUSTOMER HEREBY WAIVES ANY AND ALL CLAIMS FOR DAMAGES OF ANY KIND AGAINST CTL AND ITS ASSIGNS INCLUDING, BUT NOT LIMITED TO, PERSONAL INJURY AND PROPERTY DAMAGE WHICH MAY BE SUSTAINED AS THE RESULT OF ANY DEFECT IN ANY EQUIPMENT, WHETHER BASED IN STRICT LIABILITY OR OTHERWISE. EQUIPMENT RETURN. Customer shall surrender the Equipment, as such was received by Customer, to CTL in good condition, with no damage or improper repairs, other than normal wear, and free and clean of all debris, decals, and/or decal residue (“Return Conditions”). Any Equipment not returned in the proper Return Condition shall remain subject to Rent for a period reasonably required to restore such Equipment to the proper Return Condition. Customer shall reimburse CTL for all costs incurred by CTL to return Equipment to the CTL Location in the Return Condition at cost plus 15%. Upon termination of any Equipment, Customer shall pay to CTL all ancillary charges including, but not limited to, mileage, hours, tread-wear, and brake-wear charges. Upon Customers surrender of such Equipment, CTL will review such Equipment and notice Customer of damage or issue with the Equipment caused by Customer. Customer may not assign, transfer, sell, sublease, pledge or otherwise dispose (together, “Transfer”) of the Equipment covered by this Rental Agreement, or any interest therein without CTL’s prior written consent. Any purported Transfer in breach hereof shall be null and void. CTL consent to a Transfer does not constitute a release of Customer’s responsibilities under this agreement, unless agreed to in writing by CTL. ENTIRE AGREEMENT. These Equipment Rental Terms and Conditions constitute the entire agreement of the Parties with respect to the Rental Equipment and shall be binding upon each party and their respective representatives, successors, and assigns. These Terms and Conditions may not be amended or altered in any manner except in writing signed by a duly authorized representative of Customer and CTL. In the event, Customer receives any other documentation relating to the Equipment, whether from CTL or a CTL 3rd party, such shall be solely for the singular purpose of identifying the Equipment and no other terms or conditions set forth therein shall have any effect in modifying these Rental Terms and Conditions set forth herein. GOVERNING LAW; JURY WAIVER. This Rental Agreement shall be governed by the laws (as opposed to conflicts of law provisions) of New Jersey. The Parties hereby consent to non-exclusive jurisdiction in courts located in New Jersey and waive any objection relating to improper venue or forum, with respect to any such court. CUSTOMER AND CTL HEREBY EXPRESSLY WAIVE ANY RIGHT TO DEMAND A JURY TRIAL WITH RESPECT TO ANY ACTION OR PROCEEDING ARISING IN CONNECTION HEREWITH. The DocuSign or Rental document sent by CTL to Customer for signature, references these Rental Terms and Conditions, and by executing same, Customer acknowledges its complete acceptance and agreement of such Rental Terms and Conditions. CTL may supply missing information related to the Equipment Rental including, but not limited to, identification information, dates and contract information. In the event CTL requires a security deposit, Customer shall not be entitled to interest upon such deposit. The failure of CTL to insist at any time upon the strict performance of any of the terms and conditions hereof or to exercise any right or remedy, or the waiver by CTL of any breach of any of the terms, covenants or conditions hereof shall not be construed as thereafter waiving any such terms, covenants, conditions, rights, or remedies. If any provision hereof shall be prohibited by or invalid under law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions hereof. Corporate HQ 103 EISENHOWER PARKWAY SUITE 300 ROSELAND, NJ 07068 1-800-526-6076 Additional Links Leasing Terms & Conditions Privacy Policy FHWA / Registration Request Join Our Mailing List Name First Last CAPTCHA Commercial Trailer Leasing. All rights reserved.