Standard Terms and Conditions
These Standard Terms and Conditions apply to all transactions with TST GROUP INC, including, all leases or rentals of TST GROUP INC Equipment, whether pursuant to a long-term Equipment Lease Agreement, National Account Agreement, Short-term Rental Agreement, Equipment Rental Agreement or any other agreement. THE STANDARD TERMS AND CONDITIONS CONTAIN A JURY TRIAL WAIVER WHICH MAY BE ENFORCED IN THE EVENT OF A DISPUTE BETWEEN TST GROUP INC AND LESSEE.
1. DEFINITIONS
The following terms have specific meanings as defined in the full Standard Terms and Conditions document, including but not limited to:
- Applicable Law: All federal, state, and local laws, rules, regulations, ordinances, and orders applicable to the Equipment, Lessee, or the Lease.
- Casualty Loss Value: The value of Equipment in the event of total loss or destruction.
- Communication Device: Any device installed on Equipment for tracking, monitoring, or communication purposes.
- Communication Services: Services provided through Communication Devices, including but not limited to RoadWatch® Service.
- Covered Event: Any event that triggers insurance coverage or liability under the Lease.
- Default: Any failure by Lessee to comply with the terms of the Lease or these Standard Terms and Conditions.
- Equipment: All equipment, vehicles, trailers, or other property leased or rented from TST GROUP INC.
- Lease: Any lease, rental agreement, or other agreement between TST GROUP INC and Lessee.
- Lease Term: The period during which Lessee has the right to use the Equipment.
- Lessee: The party leasing or renting Equipment from TST GROUP INC.
- Use Charges: All charges, fees, and payments due under the Lease, including but not limited to rental fees, maintenance charges, and other costs.
2. EQUIPMENT COVERED; TERM
The specific Equipment covered by the Lease and the Lease Term shall be as set forth in the Lease. Should Lessee maintain possession of Equipment upon expiration of the Lease Term, TST GROUP INC, in its sole discretion, may:
- Upon thirty (30) days written notice to Lessee change any term or provision of the Lease, including, the Standard Terms and Conditions and the Use Charges to be paid under the Lease, or
- Demand Lessee's immediate return of the Equipment.
3. AUTHORITY & ACCEPTANCE
By submitting a TST GROUP INC customer application, entering into a Lease with TST GROUP INC, taking possession of Equipment from TST GROUP INC, executing an Equipment Rental Agreement or other document acknowledging Lessee's agreement to the Equipment Rental Agreement, making payment of any invoices to TST GROUP INC or completing any other transaction with TST GROUP INC, Lessee and Lessee's Agents represent and warrant that they are authorized on behalf of Lessee to enter such agreements and transactions with TST GROUP INC and expressly acknowledge receipt and on-going acceptance of the Standard Terms and Conditions.
4. DELIVERY, RECEIPT & DROPOFF
Upon commencement of any rental or lease of a Unit by Lessee, TST GROUP INC will provide to Lessee an Equipment Rental Agreement detailing the terms of the Lease. By taking possession of the Unit, continuing to rent or lease the Unit, or making payment of any invoices to TST GROUP INC relating to the Unit, Lessee shall be deemed to have agreed to the terms of the Lease, including the Standard Terms and Conditions.
5. COMMUNICATION SERVICES
TST GROUP INC may install Communication Devices on Equipment. Lessee agrees to the installation and use of such devices and acknowledges that Communication Services may be provided. Lessee understands that Communication Devices may collect and transmit data regarding the Equipment's location, usage, and condition.
6. PAYMENT TERMS
Lessee agrees to pay all Use Charges as specified in the Lease. Payment terms, including due dates, late fees, and payment methods, are set forth in the Lease. All payments are due in accordance with the terms of the Lease, and failure to make timely payments may constitute a Default.
7. MAINTENANCE AND USE OF EQUIPMENT
Lessee is responsible for the proper maintenance, care, and use of the Equipment in accordance with Applicable Law and manufacturer's specifications. Lessee must maintain the Equipment in good working condition and promptly report any issues or damage to TST GROUP INC.
8. INSURANCE REQUIREMENTS
Lessee must maintain insurance coverage as specified in the Lease, including but not limited to:
- Auto Liability insurance in the amount of $1 Million
- Physical Damage insurance covering the full value of the Equipment
- All insurance policies must list GSC LEASE LLC 409 Christina dr, East Dundee IL 60118 as LOSS PAYEE/CERTIFICATE HOLDER and additional insured
9. DEFAULT AND REMEDIES
In the event of a Default by Lessee, TST GROUP INC may exercise all rights and remedies available under the Lease, Applicable Law, or in equity, including but not limited to repossession of Equipment, acceleration of all amounts due, and recovery of damages and costs.
10. CONTACT INFORMATION
If you have any questions about these Standard Terms and Conditions, please contact us:
If you have any questions about these Standard Terms and Conditions, please contact us:
Phone: (847) 666-5041
Email: [email protected]
Address: 409 Christina Dr, East Dundee IL 60118
Note: This is a summary of key provisions. The complete Standard Terms and Conditions document contains all terms, conditions, and legal provisions that govern your relationship with TST GROUP INC. For the full text of all terms and conditions, please contact us or refer to your signed Lease agreement.