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Creating a Rental Agreement

Twin Peak Industries Newsletter
January 4, 2011 Volume 16

Rental agreements for your inflatable customers are much more than just pieces of paper guaranteeing you will be paid once the service is completed. Rental agreements protect you and your customers from any issues that may arise through your transaction together. It is beneficial for you and your company to lay out all of the expectations for both your customer, as well as yourself. This way no issues will be uncertain. A knowledgeable customer understanding what he can expect from your company and any resulting consequences in case the event falls through can only help, and protect, your business.

Having a clear rental agreement that outlines many of the issues that can arise throughout your inflatable rental process will significantly reduce any legal issues, and provide you with the necessary paperwork if one does arise.

The most basic rental agreement should include the following:

  • Name and address of parties doing business
  • Date and time of the event
  • Delivery and pickup information
  • Cost of service, and details outlining what this price includes
  • Safety rules that the customer and supplier are to adhere to
  • Alternate plan in the event of inclement weather
  • Dated signatures of both parties

It is also critical to include in the rental agreement liability information. You may want to create this liability waiver as a separate document. While you can purchase waiver forms at most office supply stores, it is recommended that you design a form that is specific to the inflatable industry. Make sure the customer accepts liability for damage to the equipment and injuries that may occur. This information is critical to protect your business from potential lawsuits. It is important to have this document, regardless of the type or amount of insurance that you carry for your business. Without this, you open your business up to medical costs and attorney fees in the event of an injury.

The most basic liability waiver should include the following:

  • Responsibility in the event of personal injury
  • Responsibility for damaged equipment
  • Dated signatures of both parties

The best rental agreement will also include all of the necessary legalese to protect your company if a problem or disagreement arises. If you are able to, it is best to have a lawyer assist you in developing this agreement. While the initial cost is higher, this way you can be certain that your company is protected and that all of the details of the agreement are straightforward, and presented to the customer.

Make sure your business is well protected with a thorough rental agreement that covers all of the issues that may arise. This agreement needs to be signed, dated and copied by both parties for EVERY event that your equipment is used for.

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