Chassis rental agreement

This Agreement governs every chassis rented or reserved by Lessee from Lessor. Specific rental rates, billing structure, equipment identification, and rental dates will be confirmed at booking or interchange. All rentals are subject to these terms unless otherwise agreed in writing.

Lessee shall pay rental charges as quoted at booking (monthly, per diem, prepaid, or other structure as specified). Monthly rentals are billed in advance. Invoices are due upon receipt unless otherwise stated. Lessor may automatically charge any payment method on file for unpaid balances. Accounts past due may incur interest at 1.5% per month (18% annually) or the maximum permitted by law. Lessor may suspend service, deny future rentals, or place equipment out of service for delinquent accounts. Continued possession of equipment after termination constitutes holdover rental at 150% of the standard daily rate.

Lessor may require a refundable deposit prior to equipment release. Deposit is not prepaid rent. Deposit may be applied to unpaid invoices, damages, recovery costs, or other obligations. Any remaining balance will be refunded within thirty (30) days following final inspection and account reconciliation.

(a) Ordinary Wear and Tear Lessor covers routine maintenance resulting from normal commercial use and standard service life, including: Even tire tread wear Brake wear due to normal usage Routine mechanical wear not caused by impact or misuse "Ordinary wear and tear" does not include structural damage, impact damage, road hazard damage, or abuse. (b) Impact, Road Hazard, and Misuse Lessee is fully responsible for all costs arising from: Collision or impact damage Bent components (landing gear, crossmembers, frame) Tire damage from road hazards or sidewall cuts Damage caused by improper loading or operation Electrical damage from improper connections Any misuse, negligence, or abuse (c) Repair Authorization All repairs must be approved in writing by Lessor prior to work being performed. Unauthorized repairs may not be reimbursed. (d) Excessive or Abnormal Wear All-in maintenance pricing assumes reasonable commercial usage. Excessive mileage, abnormal wear patterns, repeated damage events, or abuse may be billed to Lessee at Lessor's discretion. (e) Downtime Rental charges continue during maintenance or repair periods unless otherwise agreed in writing.

Lessee shall: Perform required pre-trip and post-trip inspections. Complete DVIR documentation as required by law. Notify Lessor promptly of defects or safety issues. Failure to document damage does not relieve Lessee of liability. Lessor reserves the right to inspect equipment at reasonable times.

Lessee shall inspect equipment upon possession and notify Lessor in writing of any pre-existing damage within three (3) days. Failure to provide written notice constitutes acknowledgment that the chassis was received in good condition.

Equipment must be returned: In the same condition as received, ordinary wear and tear excepted Free of containers, locks, and accessories In reasonably clean condition Restacked if received stacked, or stacking fees will apply Lessee is responsible for damage beyond ordinary wear and tear and for any missing components.

Upon return, all equipment shall be subject to a post-rental inspection by Lessor to determine whether the chassis meets Lessor's "Return to Service" standard. (a) Return to Service Defined Equipment must be returned in condition suitable for immediate re-rental without requiring material repair, refurbishment, or component replacement beyond ordinary wear and tear. (b) Deposit Application If equipment requires repair, tire replacement, brake work, structural repair, alignment, electrical repair, or other work necessary to restore the chassis to rentable condition, Lessor may apply the security deposit toward: Parts and labor Tire replacement due to excessive or abnormal wear Brake components worn beyond normal service life Structural or frame repair Alignment correction Cleaning beyond reasonable commercial condition Administrative and inspection time (c) Tire and Brake Standard All-in maintenance applies during the active rental period. Equipment returned with tires worn below DOT minimum tread depth, uneven wear due to misalignment, flat-spotted tires, exposed cords, or abnormal brake wear may be billed to Lessee. (d) Abuse or End-of-Life Use Returning equipment in materially deteriorated condition, including but not limited to running components to failure, operating with known defects, or returning equipment requiring major reconditioning, shall not be considered ordinary wear and tear. (e) Final Accounting Lessor shall provide a written reconciliation showing any deposit deductions. If repair costs exceed the deposit, Lessee remains responsible for the balance.

Lessee shall maintain during the rental period: Minimum $1,000,000 Commercial Auto Liability coverage Physical Damage coverage sufficient to cover replacement value Lessor named as Additional Insured and Loss Payee Waiver of subrogation in favor of Lessor Proof of insurance must be provided prior to equipment release. Failure to maintain insurance constitutes immediate default.

Lessee acknowledges that equipment may be equipped with GPS tracking or telematics devices. Lessee consents to location tracking for operational, recovery, and billing purposes.

Events of default include: Failure to pay rent when due Failure to maintain insurance Unauthorized subleasing Abandonment of equipment Upon default, Lessor may: Repossess equipment without court order where permitted by law Recover all unpaid rent, damages, and recovery costs Apply deposit to outstanding obligations Lessee is responsible for all reasonable recovery, legal, and collection costs.

Lessee shall indemnify and hold harmless Lessor from any claims, damages, losses, or liabilities arising from Lessee's possession, operation, or use of the equipment.

Lessor shall not be liable for indirect, consequential, or lost profit damages. Lessor's liability shall not exceed the total rental charges paid for the affected equipment.

Lessee may not sublease, transfer, or assign equipment without written consent from Lessor.

Lessor may assign or transfer this Agreement, in whole or in part, without Lessee's consent, including in connection with a sale of assets, merger, or sale of the business. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. Lessee's obligations hereunder shall continue unmodified following any such assignment.

Either party may terminate ongoing rentals upon written notice subject to applicable billing terms. Termination does not relieve Lessee of accrued obligations.

This Agreement shall be governed by the laws of the State of Arkansas.

This Agreement constitutes the entire agreement between the parties and supersedes prior oral or written understandings. If any provision is deemed unenforceable, the remaining provisions shall remain in effect. By accepting these terms electronically or taking possession of equipment, Lessee agrees to be legally bound by this Agreement.