OPT OUT- LOSS / ACCIDENTAL DAMAGE WAIVER PLAN
This charge will be included on all invoices beginning on September 6, 2022, if customer (“Lessee”) wishes to Opt-Out on this benefit, please follow the instructions below.
In order to OPT-Out of the NTS/TPR Loss/Damage Waiver Plan, Lessee must contact the local branch or our credit department at email@example.com or call the credit department at 832-200-0988.
NOTICE FOR RENTAL OF ALL AFFILIATES AND SUBSIDIARIES OF NATIONAL TRENCH SAFETY, INC., (collectively “NTS”). THIS AGREMENT OFFERS, FOR AN ADDITIONAL CHARGE, A LOSS/ACCIDENTAL DAMAGE WAIVER TO LIMIT LESSEE’S FINANCIAL REPONSIBILITY FOR CERTAIN LOSS OR DAMAGE TO THE RENTAL EQUIPTMENT. BEFORE DECIDING WHETHER TO PURCHASE THE LOSS/ACCIDENTAL DAMAGE WAIVER, LESSEE MAY WISH TO DETERMINE WHETHER LESSEE’S OWN INSURANCE PROVIDES COVERAGE FOR DAMAGE TO THE RENTAL EQUIPMENT AND THE AMOUNT OF THE DEDUCTABLE UNDER LESSEE’S INSURANCE COVERAGE. THE LOSS/ACCIDENTAL DAMAGE WAIVER MUST APPEAR ON THE RENTAL CONTRACT AT TIME OF DELIVERY FOR THIS LOSS/DAMAGE WAIVER TO APPLY.
THE ACCIDENTAL DAMAGE WAIVER IS NOT INSURANCE. Unless Lessee has Opted-Out of the Loss/Accidental Damage Waiver Plan, Lessee agrees to pay a charge equal to 16% of the rental charges on Equipment covered by the Loss/Accidental Damage Waiver. In return, NTS agrees to waive certain claims for loss or accidental damage to covered Equipment occurring during normal and careful use. Lessee remains liable for all other damages, including damages due to Lessee’s negligence as outlined in the terms and conditions of the Rental Contract, which are incorporated herein by reference.
Theft Protection. Without the Loss/Accidental Damage Waiver, stolen equipment is the Lessee’s responsibility. With the Loss/Accidental Damage Waiver, Lessee’s responsibility is limited when Lessee has complied with the requirements of the Rental Contract, including filing a police report to report the theft within 48 hours of the event. If the equipment is recovered at a later date, NTS retains ownership of the equipment.
Accidental Damage Protection. The cost of repairs when there is Accidental Damage to Equipment (Incidental and Accidental) is the responsibility of Lessee without the Loss/Accidental Damage Waiver. With the Loss/Accidental Damage Waiver and when Lessee has complied with the requirements of the Rental Contract, the Lessee is not responsible for repairs to the extent provided for herein.
For all other damage and loss due to negligence and use inconsistent with the manufacturer’s recommendations or the terms and conditions of the Rental Contract, Lessee is responsible for all losses and damages.
Lessee is responsible for the care and safekeeping of the rental equipment from the time of delivery until the time of return to NTS. Lessee agrees that Lessee will use its best efforts to safeguard the Equipment from loss, damage and theft at any and all times while the rental equipment is in its possession, until the rental equipment is returned to NTS.