Damage Waiver Terms
The charge is equal to approx. 2.5% of the original value of the machine being leased. Machine depreciation or contract length does not reduce this figure. In consideration of the Damage Waiver Levy, the Supplier will be liable for and bear the cost of repairs to the machinery to ensure it is operating at an optimum level. The machine must be serviced as per Supplier recommendations to maintain this insurance cover. This is effectively an extended warranty on the machine components (not consumable, service items or damaged components not consistent with normal operation of the machine with the normal production loading equipment.). This insurance for the period of the machine rental and is to be read in line with the factory warranty conditions (refer to Omni Group website for terms). Â In the event where there is any damage to the Equipment in the case of misuse and or negligence the Customer will be responsible for any costs to rectify the machine to operating condition. In the instance where an insurance levy or repair claim has taken place for the leased Equipment, the Customer must repair the machine within the following month and in all cases before terminating the rental agreement or returning the machine. The levy does not cover the cost of parts used in servicing or wear and tear, or if the Customer is not up to date with meeting service requirements, refer to Clause 27. Insurance in Section 28 does not apply when the damage waiver is paid. In cases where in the opinion of the supplier the machine requires extensive repairs, the damage waiver will cover costs of substituting the machine with one of similar to original rental agreement. The Supplier will only cover a total of claim up to 10% of the machinery value. In the instance where more than one insurance or repair claim has taken place for the leased Equipment, the Supplier reserves the right to terminate the damage waiver agreement or increase the damage waiver % fee as payment, but only to the extent of recouping the estimated costs of future claims.
Effective 01.09.2023
Damage Waiver Terms
The charge is equal to approx. 2.5% of the original value of the machine being leased. Machine depreciation or contract length does not reduce this figure. In consideration of the Damage Waiver Levy, the Supplier will be liable for and bear the cost of repairs to the machinery to ensure it is operating at an optimum level. The machine must be serviced as per Supplier recommendations to maintain this insurance cover. This is effectively an extended warranty on the machine components (not consumable, service items or damaged components not consistent with normal operation of the machine with the normal production loading equipment.). This insurance for the period of the machine rental and is to be read in line with the factory warranty conditions (refer to Omni Group website for terms). Â In the event where there is any damage to the Equipment in the case of misuse and or negligence the Customer will be responsible for any costs to rectify the machine to operating condition. In the instance where an insurance levy or repair claim has taken place for the leased Equipment, the Customer must repair the machine within the following month and in all cases before terminating the rental agreement or returning the machine. The levy does not cover the cost of parts used in servicing or wear and tear, or if the Customer is not up to date with meeting service requirements, refer to Clause 27. Insurance in Section 28 does not apply when the damage waiver is paid. In cases where in the opinion of the supplier the machine requires extensive repairs, the damage waiver will cover costs of substituting the machine with one of similar to original rental agreement. The Supplier will only cover a total of claim up to 10% of the machinery value. In the instance where more than one insurance or repair claim has taken place for the leased Equipment, the Supplier reserves the right to terminate the damage waiver agreement or increase the damage waiver % fee as payment, but only to the extent of recouping the estimated costs of future claims.
Effective 01.09.2023