- 1. What's a Full Day Rental?
- 2. What's a Half Day Rental?
- 3. Equipment Cancellations
- 4. Crew Cancellations
- 5. Payment
- 6. Things You need to Rent Gear from TVC
- 7. Discounts
- 8. The Video Company Lease Agreement
A full day is considered 24 hours from the time you pick up the gear until the time it is returned. That means you have use of the equipment for 24 hours from the time you pick it up.
We do everything we can to make things easy for you, so we're extremely flexible on return times. If you have a special need, be sure to mention it to us. Chances are we'll be able to accomodate you.
A half day is defined as five (5) hours port to port, ie. the time the gear leaves our building until the time it is returned. Gear returned after five hours is billed at the full day rate.
READ THIS: In addition, half day rentals are subject to "bumping", losing your place in the schedule, should a full day rental for the same equipment be requested by another customer. In the rare event that your gear is bumped, we'll make every attempt to find suitable substitutes for you.
We need 24 hours notice in order to cancel equipment. For gear that we've subrented (rented from another rental company) we require 48 hours.
At TVC, we do not employee any crew members. All crews are booked strictly as independent contractors. Therefore, crew cancellations depend on the indvidual crew member and must be handled on a case by case basis.
There are three ways you can pay:
1. Credit:
If you're approved for credit, we'll invoice you for the equipment. Terms are Net 30, ie. you have 30 days to pay from day we invoice you.
Late charges are applied if we do not receive payment by the due date. Over due invoices are subject to a 2.25% per month penalty.
2. Credit Card:
We accept MasterCard or Visa. At this time, however, we do not accept American Express.
3. Cash:
Everybody loves cash. In fact, if we didn't accept cash we'd be violating federal law. That's what the term "Legal Tender" means.
Things You need to Rent Gear from TVC:
1. An Account:
We need a completed credit application in order to setup an account for you. This applies to all methods of payment -- cash or credit. Call us and we'll be happy to fax you one. If you're on a tight schedule, we'll expedite the process to meet your deadline.
We bill on a 30 day cycle. Late charges are applied if we do not receive payment by the due date.
2. Insurance:
Our equipment never leaves the building unless it is covered under an insurance policy. There are two ways you can provide insurance. You can purchase a "Loss Damage Waiver" from us or you can provide a "Certificate of Insurance" from your insurance company as evidence that you are covered.
We prefer a Certificate of Insurance. Generally speaking, you'll find that it's far less expensive than purchasing our Loss Damage Waiver each time you rent. Your insurance company can usually cover anything we would require under your existing policy or by making a few simple modifications to it.
Certificate of Insurance:
A document, delivered by your insurance company, that states the terms of your
insurance policy and specifically includes The Video Company as as a company
covered by the policy. The company issuing the policy must be a reputable and well
known provider of insurance. The certificate must include the following items:
• Liability, Property and Worker's Compensation insurance.
• Limits that exceed all property at risk, regardless of source. Property insurance must cover the total value of the equipment being rented.
• The Video Company, LLC. must be listed as "Loss Payee" and "Additional Insured" for liability coverage.
• Liability Insurance must meet the following minimums:
Commercial General Liability $1,000,000 per occurence and annual aggregate.
Automotive Liability $1,000,000 combined singal limit.
If taping from an aircraft, Aircraft Liability $5,000,000
• 10 Days written notice to The Video Company before any policy can be modified or cancelled.
Loss Damage Waiver:
If you don't have your own insurance, you can purchase it from us. We
would prefer not to do this, but will if it is the only option. At 10% of the
total equipment rental amount, it is also quite expensive.
3. Signed Lease Agreement:
For every rental, a work order is produced that details all of the pieces of equipment you are renting. On the back of the work order is a lease agreement that outlines our rental policies.
Before leaving the building, the work order must be signed by the you (the customer) or your agent. Your signature indicates your acceptance of the work order and all terms of the lease agreement.
All terms of the lease agreement are listed below.
All customers are treated equally at TVC, so you won't find one person getting a better deal than someone else. The prices you see on the rate card are the prices you'll see on an invoice.
Long Term Rentals: We use the standard "4 for 7" discount for rentals over four days. Here's how it works. If you rent a camera for 4 days you are charged for 4 days. The 5th, 6th & 7th days are free. On the 8th day, the formula starts over again. For example:
| NUMBER OF DAYS RENTED | NUMBER OF DAYS YOU PAY FOR |
|---|---|
| 4 | 4 |
| 5 | 4 |
| 6 | 4 |
| 7 | 4 |
| 8 | 5 |
| 9 | 6 |
| 10 | 7 |
| 11 | 8 |
| 12 | 8 |
| 13 | 8 |
| 14 | 8 |
| 15 | 9 |
| and so on ... | |
The Video Company Lease Agreement:
Here's all the legal jargon you're agreeing to when you rent from us.
LEASE TERM: The term of this Lease Agreement commences on the date equipment or any partial delivery thereof is delivered into the hands of Lessee. All equipment will be returned by 9:00 A.M. of the return date as set forth in the Schedule unless prior arrangements are made, or additional charge will be levied at the normal daily rate.
RESPONSIBILITY: Lessee will use the equipment only for lawful purposes and will exercise due and proper care and storage of equipment at all times. Lessee will bear total responsibility for properly packing and shipping the equipment so as to prevent damage to the equipment. Equipment shipped to the Lessee will be shipped Collect by Lessor and returned by Lessee freight prepaid to Lessor.
LICENSING FEES: Lessee, at his expense, shall pay and discharge when due all license fees, registration fees, custom duties, import and export duties and fees, taxes (Federal, State, Local or Otherwise) and assessments (and interest and penalty if any thereon) which may be levied, directly or indirectly, against the equipment or any interest therein or with respect to the ownership, possession or use thereof whether such taxes or charges are levied against Lessor or Lessee.
PAYMENT / LATE CHARGES: lessee agrees to pay Lessor the total amount specified in the Schedule for rent of the equipment within the time specified on the invoice. ANY PAYMENT RECEIVED MORE THAN THIRTY(30) DAYS AFTER THE INVOICE DATE WILL BE ASSESSED A TWO AND ONE-QUARTER PERCENT (2.25%) PER MONTH LATE CHARGE. LATE CHARGE WILL BE DUE AND PAYABLE AS AN INVOICED AMOUNT.
SECURITY DEPOSIT: At the lessor's option, any security deposit made hereunder may be applied by lessor to cure any default of lessee. If all the conditions herein are fully complied with, an amount equal to the security deposit shall be refunded, without interest, to the Lessee within thirty (30) days after the return of the equipment to the Lessor.
RISK OF LOSS: Lessee hereby assumes and shall bear the entire risk of loss, theft, damage and destruction of the equipment and/or videotapes resulting from any cause whatsoever and by whomsoever. Rent at the daily rate for the equipment will continue to be assessed until the equipment has been repaired, replaced and returned to The Video Company, LLC. No loss, theft, damage or destruction of equipment and/or videotapes shall relieve Lessee of the obligation to pay rent or any obligations of the Agreement. This limitation of liability shall included any and all videotapes lost, damaged or destroyed while in transit, stored or used for any purpose while in Lessor's possession. In the event that any equipment is lost, stolen or destroyed, the lessee shall be responsible for the cost to replace the same item or closest comparably equipped model at current prices less any discounts available, without deduction for depreciation.
INSURANCE: Lessee shall obtain and maintain for the entire term of this lease, at its own expense, property damage and liability insurance against loss or damage to the equipment, in such form and with such insurers as shall be satisfactory to Lessor, and providing that the amount of insurance against loss or damage to the equipment shall not be less than the full replacement value of the equipment. Each insurance policy shall name Lessee as an insured and Lessor as additional insured and loss payee thereof, and shall contain a clause requiring the insurer to give Lessor at least thirty (30) days prior written notice of any alteration in the terms of such policy or of the cancellation thereof. Lessee shall furnish to Lessor certificates of insurance and other evidence satisfactory to Lessor that such insurance coverage is in effect during the entire term of this lease.
OUT OF COUNTRY RENTALS: Removal of the equipment outside of the continental United States requires special insurance coverage. The Lessee shall not take the equipment outside of the continental United States unless: (1) Lessee has indicated on the Schedule that Lessee is taking the equipment to a designated area outside the continental United States; and (2) Lessee has provided insurance coverage for the equipment acceptable to Lessor which insures against loss outside of the continental United States.
LEGAL TITLE: Legal title and ownership of the leased equipment shall at all times remain The Video Company, LLC. Lessee shall execute any such documents of financing statements as lessor deems necessary or advisable and shall otherwise cooperate to defend title and interest of Lessor. Lessee shall not remove or cover Lessor ownership labels, inventory tags, or any other markings which denotes true ownership of the Equipment.
HALF DAY RENTALS: All one-half day rentals will commence at the pickup of equipment and will not exceed five hours from return. Any equipment not returned within the 5 hour time limit will be charged the full day rate.
LESSOR'S LIABILITY: Lessor's liability shall be limited to the obligation, at its option, to repair or replace malfunctioning equipment, or to refund or credit the rental fee on a prorated basis for down time. This liability shall arise only when equipment malfunction is not related to acts or omissions by Lessee or to events beyond the control of the Lessor and provided the Lessor has been notified promptly of such failure.
TAPE STOCK LIMITED WARRANTY/DISCLAIMER: The Video Company, LLC. makes no representation or warranty and disclaims any representation or warranty, expressed or implied, concerning tape stock. Lessee agrees to look directly and exclusively to the tape manufacturer for any recovery based upon defective tape stock.
INDEMNITY: Lessee shall indemnify and hold Lessor harmless from and against any and all claims, costs, expenses, damages, losses, liabilities incurred or suffered by the Lessor, Lessee or any other party in connection with the delivery, operation, use or performance of the equipment or as a result of any incidental or consequential damages (including strict liability in tort), the merchantability or suitability of the equipment or of any product produced through the use of the equipment; compliance of the equipment with the requirements of any laws, rules, specifications or contracts pertaining thereto; patent infringement or latent defects, or any other representation or warranty of any kind, expressed or implied, with respect to the equipment, except as expressly provided herein.
DEFAULT: In the event of any default by Lessee, including but not limited to: non-payment of rent; non-performance of any condition of this Agreement; Lessee ceases doing business as a going concern; any affirmative act of insolvency, filing of any involuntary petition under bankruptcy statute; subjection of any Lessee's property to any levy, seizure, assignment, application, or sale for or by any credit or government agency. Lessor or its agent shall have the immediate right to terminate this Agreement and to take possession of the property, wherever located, without demand or notice to Lessee. In the event any action is filed in relation to this Agreement, Lessee agrees to pay a reasonable sum to Lessor from any and all claims arising out of or resulting from the use of the Equipment by Lessee, including any expenses and attorney's fees which Lessee may incur in defending any such claims.
REMEDIES: Upon the occurrence of any Event of Default and at any time thereafter so long as the same shall be continuing, Lessee may terminate Lessee's rights hereunder and without demand or notice to Lessee enter upon, with or without legal process, any premises where the equipment may be located and take possession thereof at Lessee's expense. Termination of Lessee's rights upon default by Lessee shall not relieve Lessee of its obligations hereunder. Additionally, Lessee, with further demand, shall pay to Lessor an amount equal to any unpaid rentals or other moneys due on or before Lessor's declaring this lease to be in default, plus as liquidated damages for loss of bargain, and not as a penalty, an amount equal to the total of all rentals remaining to be paid under the Lease if no default had occurred.
No remedy provided herein is intended to be exclusive, but each shall be cumulative, and shall be in addition to any other remedy referred to herein or otherwise available to Lessor at Law or in equity.
Lessee shall pay Lessor all costs and expenses, including reasonable attorney's fees, incurred by Lessor in exercising any of its rights or remedies hereunder.
The exercise of any of the remedies provided herein shall not be deemed to constitute a termination of the Lease unless Lessor so notifies Lessee in writing.
ASSIGNMENTS: Neither this Lease nor Lessee's rights hereunder shall be assignable by Lessee except with Lessor's written consent. Lessor shall have the unqualified right to assign this lease or any part hereof.
RIGHT OF INSPECTION: The Lessor, its agents and representatives, shall have the right at any time during usual business hours to inspect the equipment and for that purpose to have access to the location of the equipment.
