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
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.
(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
(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.
(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.