By: James Waite, Esq. and Rene Del Barco of JWL International Most equipment dealers in the United States, as well as their lawyers, are aware of the fact that a vast array of federal, state and local laws, including dealer, franchise, antitrust, commercial, consumer protection, environmental,...
This class action lawsuit filed against Hertz Equipment Rental is good reason to revisit your policy on damage waivers. Whether to offer a damage waiver remains one of the most hotly debated issues in the equipment rental industry. Comments range from: “It has no value to...
James Waite presents on The State of the Equipment Industry from an economic outlook and how to better prepare for what is to come....
Question: I sell new and used equipment. I usually don’t have buyers sign a separate contract or bill of sale because I have a provision in my rental contract that I believe covers sales. Is that enough or is there some reason I need to...
Question: I’m considering buying a competing equipment dealership. I’m being told that I should buy the assets rather than the equity of the target business because, if I do that, my company won’t assume any of the seller’s liabilities. Is that true? Answer: For most business buyers, purchasing...
Question: I’m buying some equipment, and the shipping terms in the purchase agreement refer to “EXW Incoterms 2020.” I’m generally familiar with “Incoterms,” but I don’t really have a lot of time to study what each one means. Can you give me a summary of what...
Question: I’ve rented and sold equipment to a customer for construction work, but I haven’t been paid. Can I file a mechanic’s lien on my own to get the money I’m owed? Answer: Yes, but the requirements are highly technical and strict. If you miss a deadline or...
Question: “We have operations in multiple states. How can we prepare a single form of Dealer Agreement enforceable in each of those states?” James Waite’s Answers: You and/or your attorney must review each state’s dealer and in some cases, franchise laws to determine whether and to...
Question: I just had two large customers file bankruptcy. One of them was making payments on a rental that included an informal purchase option — just some notes written on the face of a rental contract; the other owes me more than $50,000 on a...
Question: I rented a piece of equipment to a customer without first getting his signature on my rental contract. The equipment was vandalized, and I charged the customer’s credit card for the cost of the repair. The customer disputed the charge, and the credit card...
