Thank you for renting with MIT. To make the process more efficient, we require our rental agreement to be signed with the first rental of the calendar year. This agreement will remain valid for any subsequent rentals until the following year.
Rental invoices are generated at the end of each month until the equipment is returned.
We hope your experience has been exceptional, but should you need to reference anything please find the terms of our rental agreement below.
1.) Eligibility
a.) Customers must have a current Credit Terms Agreement with MIT Inc. to be eligible for rental services.
b.) Customers without pre-approved credit may request rentals with full prepayment or deposit, subject to MIT Inc.’s approval.
2.) Deposit
a.) A deposit of up to two months of rental charges may be required prior to equipment leaving MIT Inc.’s facility.
b.) The exact deposit amount will be communicated in writing prior to shipment.
c.) Deposits will be refunded via credit card or check within 14 business days after MIT Inc. receives the returned equipment, completes inspection, and assesses any applicable fees.
d.) Any service fees or damages will be itemized in writing and deducted from the deposit.
3.) Rental Periods and Charges
a.) Rental charges begin on the date the equipment arrives at the Customer’s designated “ship-to” location on the invoice.
b.) Rental charges end on the date MIT Inc. receives the equipment back at its facility, pending inspection.
c.) Rentals are charged on a per-day basis, with a maximum of 25 days per calendar month.
d.) Rental invoices are generated monthly and continue until equipment is returned and accepted by MIT Inc.
4.) Shipping Responsibilities
a.) The Customer is responsible for all shipping costs to and from their location.
b.) Equipment may not be returned on MIT Inc.’s shipping account without prior written authorization. Unauthorized returns will incur a fee of $25 or 15% of the shipment cost, whichever is greater.
c.) Customers must provide a complete and accurate shipping address for all deliveries and returns. MIT Inc. is not responsible for delays, lost shipments, or additional shipping costs caused by incorrect or incomplete addresses.
5.) Equipment Delivery and Inventory Verification
a.) MIT Inc. provides a detailed shipping checklist with each rental.
b.) Customers are responsible for verifying all listed items are received and reporting discrepancies within 48 hours of delivery.
i.) MIT Inc. assumes items listed on the checklist are received unless notified by the Customer within this timeframe.
c.) Customers are responsible for replacing or reimbursing MIT Inc. for any missing or damaged items supplied as part of the rental.
6.) Consumables
a.) Consumable items are sold only and not included in the rental price.
b.) Unused/unopened consumables may be returned subject to a 25% restocking fee.
c.) Partially used consumables are non-refundable.
d.) Nonstandard or special-order consumables (identified with an “-NS” item code) are non-refundable.
7.) Equipment Malfunction
a.) Customers must immediately notify MIT Inc. of any equipment malfunction.
b.) No repairs or service may be performed by the Customer; only MIT Inc. technicians may service equipment.
c.) Customers are responsible for all return and replacement shipping costs.
d.) MIT Inc. will terminate rental charges for equipment returned for service once it is received at MIT Inc.’s facility. A replacement unit will be shipped as availability allows.
e.) Customers must update MIT Inc. with any changes to shipping addresses and are responsible for additional shipping costs incurred during transit.
8.) Damage, Water, and Modifications
a.) Customers are responsible for repair costs resulting from improper use, negligence, excessive wear, or any permanent marking or alteration of MIT Inc. rental equipment.
i.) Customers shall not modify, alter, engrave, stamp, etch, paint, apply permanent markers, or otherwise permanently mark any rental equipment.
ii.) Any permanent marking or alteration is considered damage, and customers must pay all costs required to restore equipment to original condition, including housing replacement or full unit replacement if restoration is not feasible.
b.) Repair or replacement charges are billed at current replacement cost and are due upon receipt.
c.) Customers are responsible for ensuring equipment is returned in the same condition as received, excluding normal wear.
d.) Normal wear and tear from proper use is exempt from charges.
9.) Equipment Return
a.) The Customer is responsible for returning all rental equipment.
b.) Power supplies must be returned via freight shipping. If returned via ground shipping, the Customer will be responsible for a $250 fee, plus any repair costs incurred during shipping. If the equipment cannot be repaired, the Customer will be responsible for replacement of the unit at MIT Inc.’s current retail price.
c.) Equipment returned without prior authorization on MIT Inc.’s shipping account will be invoiced to the Customer with the additional $25 or 15% fee, whichever is greater.
d.) Upon return, equipment will be inspected within 14 days. MIT Inc. reserves the right to charge for damages or repairs beyond normal wear and tear.
e.) Rental charges for returned equipment terminate upon receipt by MIT Inc., pending inspection.
10.) Lost or Irreparably Damaged Equipment
a.) The Customer is responsible for the full replacement cost of any lost or irreparably damaged rental equipment, based on MIT Inc.’s current retail price.
b.) Depreciation or age of the equipment will not reduce the replacement charge.
11.) Deposits and Fees
a.) MIT Inc. will provide an itemized statement of any fees deducted from the deposit.
b.) Fees may include: shipping fees, repair costs, missing items, or service fees associated with improper use.
c.) Deposits will be refunded within 14 business days of final inspection and assessment.
12.) Governing Law and Venue
a.) These Terms are governed by the laws of Missouri, without regard to conflicts of law principles.
b.) Jurisdiction and venue are agreed to be Christian County, Missouri.
13.) Amendments and Communication
a.) MIT Inc. reserves the right to update or modify these Terms at any time.
b.) Customers will be notified of any material changes in writing.
c.) All communications regarding rentals, returns, or service must be submitted in writing or via email to MIT Inc.’s service department.
