This class action lawsuit filed against Hertz Equipment Rental is good reason to revisit your policy on damage waivers. Whether to offer a damage waiver remains one of the most hotly debated issues in the equipment rental industry. Comments range from: “It has no value to...
James Waite presents on The State of the Equipment Industry from an economic outlook and how to better prepare for what is to come....
Question: I sell new and used equipment. I usually don’t have buyers sign a separate contract or bill of sale because I have a provision in my rental contract that I believe covers sales. Is that enough or is there some reason I need to...
Question: I’m considering buying a competing equipment dealership. I’m being told that I should buy the assets rather than the equity of the target business because, if I do that, my company won’t assume any of the seller’s liabilities. Is that true? Answer: For most business buyers, purchasing...
Question: I’m buying some equipment, and the shipping terms in the purchase agreement refer to “EXW Incoterms 2020.” I’m generally familiar with “Incoterms,” but I don’t really have a lot of time to study what each one means. Can you give me a summary of what...
Question: I’ve rented and sold equipment to a customer for construction work, but I haven’t been paid. Can I file a mechanic’s lien on my own to get the money I’m owed? Answer: Yes, but the requirements are highly technical and strict. If you miss a deadline or...
Question: “We have operations in multiple states. How can we prepare a single form of Dealer Agreement enforceable in each of those states?” James Waite’s Answers: You and/or your attorney must review each state’s dealer and in some cases, franchise laws to determine whether and to...
Question : Je viens d'avoir deux gros clients qui ont fait faillite. L'un d'eux effectuait des paiements sur une location qui comprenait une option d'achat informelle - juste quelques notes écrites au recto d'un contrat de location ; l'autre me doit plus de $50.000 sur un...
Question : J'ai loué un équipement à un client sans avoir obtenu au préalable sa signature sur mon contrat de location. L'équipement a été vandalisé, et j'ai facturé le coût de la réparation sur la carte de crédit du client. Le client a contesté le débit, et la carte de crédit...
Question : Récemment, un client a causé des dommages d'une valeur de plus de $10,000 à notre équipement. Nous avons facturé le coût de la réparation sur sa carte de crédit, mais il a contesté le débit. Il a d'abord admis par écrit qu'il avait effectivement utilisé la machine, mais a prétendu que c'était...
