Terms and Conditions of Equipment Loan
- Term of Agreement: The parties do herein bind themselves to the terms of this Agreement in regard to all equipment loaned by Customer from Grand Stores from the date on the Loan Agreement until modified, terminated, or all obligations of the parties are fully satisfied. The name on Loan Agreement will be defined as (“Customer”).
- The lessee must present a copy of both sides of their valid current Emirates ID and deposit starting from $550* in the form of a credit card authorization or cash to be returned upon completion of the loan.
- Inspection. Customer will not leave Grand Stores with the Inventory until a full “Inspection of Inventory” form is completed and initialed by Customer and a Grand Stores representative. Upon execution of said form Customer acknowledges that the equipment is in good condition and working order. All third party operators and handlers of equipment will be bound to Terms and Conditions.
- Uses and Care of Inventory. Customer agrees to use and maintain the equipment at their own expense, according to the Manufacturer’s Instructions, and per Grand Stores’s instructions, if any. Customer may not make any modifications to the equipment without Grand Stores’s prior written consent; such consent may be withheld in Grand Stores’s sole discretion. Customer agrees that they will not misuse or abuse the equipment or use it in any unlawful way. Customer must obtain prior written consent from Grand Stores to remove the equipment from the state or country; such consent may be withheld in Grand Stores’s sole discretion. Grand Stores’s logos and identification numbers must never be concealed or removed.
- Insurance Options. Customer must obtain Third Party Insurance with a Certificate of Liability for full replacement of all inventory loaned from Grand Stores as set out in the Equipment Loan Agreement, place a credit card deposit for the entire order replacement price as set out in the Equipment Loan Agreement, purchase Grand Stores’s Protection Policy, or rent a Grand Stores “Crew Member” prior to any equipment leaving Grand Stores’s premises. All deductibles will be the Customer’s responsibility.
- Third Party Insurance. If a Customer selects the Third Party Insurance option, it must be enforced and maintained at the sole cost of the Customer prior to equipment leaving Grand Stores’s premise and remain in force until the equipment is returned to Grand Stores. Insurance must be special form providing covered for the full replacement value of the entire Loan. Coverage must be on premise, in transit, unnamed locations and worldwide. It must include a “Locked Car” clause, covering the inventory in a car at all times. Unattended Vehicle Theft Exclusion won’t be accepted. The certificate of insurance must list Grand Stores as an additional insured party and a loss payee on the commercial general liability policy. Company shall be designated as follows: Grand Stores
- No Warranties. Customer is solely responsible in completing a detailed Inventory Checklist provided by Nikon Middle East FZE. Equipment is loaned AS-IS. All media management is in the sole responsibility of the Customer and Nikon Middle East FZE is not responsible for any data loss. Nikon Middle East FZE makes no warranties, express, implied, or otherwise, as to the performance of equipment, services, supplies, or film. Furthermore, Nikon Middle East FZE makes no warranties, express, implied, or otherwise, of merchantability or fitness for a particular purpose.
- Pick Up and Return of Equipment: Acceptance by Grand Stores of the returned Loan equipment does not waive any claims Grand Stores may have against Customer, including, but not limited to, claims for latent, patent, or hidden damage. Equipment must be picked up and returned at the time set forth by the Agreement. If Customer needs to pick up or return any equipment at a different time than the time set forth by the Equipment Loan Agreement, they must contact Grand Stores to make arrangements.
1 day past return time set forth by the Equipment Loan Agreement: $150 of the order total will be charged as Late Fee.
2 days past return time set forth by the Equipment Loan Agreement: $ 275 of the order total will be charged as Late Fee.
3 days past return time set forth by the Equipment Loan Agreement: $ 400 of the order total will be charged as Late Fee.
- Damaged or Lost Equipment: Customer is solely responsible and liable for any and all loss, including theft, and/or damage to the equipment during the period covered by the Loan Agreement. In the event of any loss or damage to the equipment, Customer agrees to pay the Loan rate during the period of time Grand Stores is deprived of the equipment and until such time as it is repaired and/or replaced. Grand Stores reserves up to 48 hours from when the item is returned to alert the Customer of any issues. In the event of any equipment damage, Grand Stores must handle all and any repairs.
- Equipment Valuation: Customer agrees that the value of the equipment, in the event of damage or loss requiring replacement of said equipment, is determined by the cost of a similar replacement device, as determined by Grand Stores.
- Grand Stores can nullify this Agreement and repossess the Equipment with no notice to Company or any involved parties. Grand Stores reserves the right to inspect the Equipment at any time during the Loan Period. The Customer agrees to allow any representative from Grand Stores on-camera-site access to Inventory at any time.
- Indemnification: Customer agrees to assume full responsibility and liability for the safekeeping and return of all loaned equipment accepted by Customer. Customer agrees to indemnify and hold harmless Grand Stores and any other persons to which Grand Stores may be responsible to indemnify and hold harmless, from any and all liability, claims, damages, costs, including legal fees, and expenses arising from Customer’s use, misuse and/or possession of the loaned equipment.
- Authority Warranty: Customer hereby warrants that any person which it directs or allows to receive equipment from Grand Stores, or who shall sign for acceptance of equipment, is authorized by Customer to do so. This authorized person is bound to the same terms of this Agreement. Customer herein waives any obligation on the part of Grand Stores to confirm said person’s authority to act on behalf of Customer.
- Construction and Edits: In the event any parts of this Agreement are found to be void, the remaining provisions of this shall be binding. This document shall remain unedited unless a written Agreement is made between Customer and Grand Stores.
- Titles and Limitation of Liability. The sole title of ownership and all rights to ownership of the Equipment shall, at all times, remain with Grand Stores. In no event shall Grand Stores be liable to Customer or any third party for any loss, without limitation. Customer hereby agrees to assume full responsibility and liability for any such Claims and for the safekeeping and return of all Equipment loaned by Customer.
- Non-Exclusivity/Non-Assignment. This is a non-exclusive . Customer shall not sell, sublease, or loan the Equipment or assign any of its rights or obligations under this Agreement to any other person or entity.
