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Credit Application

You, the applicant are applying for credit from Precision Rentals LLC (“Precision”) for the purpose of obtaining rentals, products and/or services from Precision. Applicant understands and expressly agrees that the information provided on the front and back of this credit Application and any financial statements provided to Precision is being provided for the purpose of obtaining credit. Applicant further understands that Precision is relying upon the accuracy of this information. Applicant, therefore, represents and warrants that the information provided is true and complete. Applicant further understands and agrees that Applicant has an on-going affirmative duty to notify Precision immediately of any material change in Applicant’s financial status and any change in the information provided herein. Where the word “Applicant” is used it includes the undersigned.







THIS APPLICATION COVERS ALL CURRENT AND ALL FUTURE AUTHORIZED PURCHASES AND RENTALS. BY SIGNING BELOW OR ACCEPTING ANY MATERIALS AND/OR EQUIPMENT, EVEN IF THIS APPLICATION OR CONTRACT IS NOT SIGNED, APPLICANT AGREES TO ALL OF THE TERMS AND CONDITIONS ON THE FRONT AND BACK OF THIS AGREEMENT AND ON ALL RENTAL OUT CONTRACTS IN THEIR ENTIRETY.

AUTHORITY TO CONFIRM INFORMATION AND OBTAIN CREDIT REPORTS

Applicant hereby expressly authorizes Precision Rentals to contact any parties listed herein and to verify any information contained in this Credit Application. If any of the information provided herein is believed by Precision Rentals to be untrue, Applicant hereby agrees that all of Applicant’s obligations to Precision Rentals, or held by Precision Rentals shall become immediately due and payable in full to Precision Rentals without any notice or demand whatsoever from Precision Rentals being required. The Applicant hereby waivers any privacy of credit information rights or regulations. The Applicant hereby expressly consents to allow Precision Rentals to obtain a consumer report or reports, as defined in the Fair Credit Reporting Act, on the Applicant as deemed necessary by Precision Rentals, and hereby expressly instructs any consumer reporting agency to provide Precision Rentals with a consumer report or reports on the Applicant. The Applicant intends to use this information to, among other things, evaluate the credit worthiness of the Applicant whether as a principal in the transaction or as a guarantor, and to evaluate the collectability of any debt owed to Precision Rentals by the Applicant in any capacity whatever.

In consideration for Precision Rentals extending credit to the Applicant, the undersigned hereby personally and unconditionally guarantees to Precision Rentals the Prompt payment of any and all money due and owing to Precision Rentals by the Applicant and further personally and unconditionally guarantees the full prompt and faithful performance by the Applicant of any and all terms, convents and conditions of any agreement between Applicant and Precision Rentals. To the fullest extent permitted by law, the undersigned hereby waives and relinquishes all rights and remedies accorded by applicable law to guarantors and agrees not to assert or take advantage of any such rights or remedies. This guarantee is a continuing obligation of the undersigned and may be revoked for future indebtedness only by notifying Precision in writing via certified or registered mail.



DISCLOSURE OF NON-PUBLIC PERSONAL INFORMATION

THE UNDERSIGNED EXPRESSLY AGREES TO THE FOREGOING AND REPRESENTS AND WARRANTS THAT THE INFORMATION GIVEN IS TRUE, COMPLETE, AND CORRECT AND FURTHER AGREES TO ALL TERMS AND CONDITIONS INCLUDING THOSE ON THE REVERSE SIDE HEREOF.

1.GENERAL TERMS

(A) By completing this Application, Precision Rentals is not agreeing to extend credit to Applicant but is considering whether to allow Applicant to purchase or rent equipment on an open account from Precision Rentals. All such purchases and rentals are made subject hereto unless other terms are expressly agreed to, in writing, between Applicant and Precision Rentals.

(B) If Applicant disputes the equipment rental, the charge therefore, and/or the validity or correctness of any transactions Applicant has with Precision Rentals, Applicant must notify Precision Rentals, in writing of the dispute, including details thereof, within 10 days of learning of the dispute. If Applicant fails to notify Precision Rentals of any dispute within the 10 day time period, Applicant shall be deemed to have accepted the transaction as satisfactory and to have voluntarily waived any such dispute or claim.

(C) Applicant and guarantor(s), jointly and severally, hereby agree to pay any and all fees and costs, including attorney’s fees and fees paid to collection agencies, incurred by Precision Rentals in enforcing the terms and provisions of this Agreement and/or in collecting any money owed to Precision Rentals. Applicant understands and agrees that Precision Rentals has no obligation to extend credit to Applicant and that Precision Rentals, in its sole and absolute discretion, may terminate the extension of any account accommodations or credit to Applicant at any time for any reason or for no reason whatsoever. TIME IS OF THE ESSENCE OF THIS AGREEMENT.

PAYMENT TERMS

(A) All amounts charged by the Applicant will be due 10 (TEN) DAYS FROM DATE OF INVOICE or as specified on invoice. A FINANCE CHARGE will be imposed on any balance of the account that is not paid by the last day of the month in which the account becomes due. Applicant will incur NO FINANCE CHARGE if the account is paid in full by the last day of the month in which the account becomes due. The amount of the FINANCE CHARGE is computed on the last day of each month by multiplying the unpaid balance of the invoices which are due, after deducting payments and/or credits during the month, by a periodic rate of one and one half percent (1 ½ %) per month, or the highest legal rate permitted by law, whichever is lesser. The corresponding NOMINAL ANNUAL PERCENTAGE RATE is eighteen percent (18%) per year.

(B) Payment must be made to PRECISION RENTALS LLC, 13152 W. Butler Road, El Mirage, AZ 85335, prior to the last day of the month in which the account becomes due to avoid a FINANCE CHARGE. PRECISION RENTALS LLC may at its option, require its Applicants to enter into a security agreement at the time of purchase. Precision Rentals is to retain title to and obtain a security interest in the property purchased until the amount charged for the property has been paid in full. Personal guarantees may be necessary on corporate, partnership, or proprietorship accounts. Applicant acknowledges and represents that any and all equipment or parts sold or rented, or service work performed shall be used for business purposes only, and not for personal, family or household purpose. A service charge of up to $25.00 will be applied to each returned check. Account(s) 60 days old will be placed on C.O.D. This credit application will governed by the laws of the state in which the equipment is rented.

I agree to the terms above and sign with my electronic signature.


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13152 W. Butler Dr.
El Mirage, AZ 85335

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623-878-2033
TerryQ@precisionrents.com

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