WHAT IS THIS?
The IPG Damage Waiver is included in the cost of hiring a product from us. The IPG Damage Waiver covers unexpected damage to a product to the value of $5000 ex GST when paid on your hire contract.
HOW IS THE DAMAGE WAIVER CHARGED?
When we rent you a product, the IPG Damage Waiver is added to your hire contract and is charged on all invoices regardless of the billing period or frequency. The IPG Damage Waiver is currently calculated at 14% of the hire charges only. So that means it is not added onto charges such as transport.
A customer can, before a hire contract commences apply for an exemption to paying the IPG Damage Waiver. The customer must provide a Public Liability Certificate of Currency covering loss or damage to the Equipment for the full as new replacement value. Once provided this will always be subject to approval by Instant Products Group.
WHAT DOES THE DAMAGE WAIVER COVER?
The IPG Damage Waiver covers repairs to a product only. It does not include removal of graffiti, rubbish, stickers, signage or any other object affixed to the surfaces both internal or external on our products. For what the damage waiver does not cover you will receive an invoice once our off-hire process is completed. It also does not include loss, theft or destruction of our products.
|IS IT COVERED?||YES||NO|
|Removal of Graffiti||x|
|Removal of Rubbish||x|
|Removal of Signage or Stickers including residue of either having been on the product||x|
|Removal of any item affixed to the internal or external surfaced on our product including conduits, fixings and clips||x|
|Structural Damage to the product||x|
|Loss, Theft of Destruction of the product||x|
|Damage to other property, equipment or injury to people||x|
Upon return of your products on hire to Instant the products are inspected for damage during our off-hire process. Subject to our Terms and Conditions of Sale & Hire, Instant Products Group will advise you of the cost to repair the product.
If the IPG Damage Waiver has been paid then the repair cost will be reduced by the amount of $5000 ex GST. So if the repair cost was $700 ex GST, then the $5000 ex GST from the Waiver will be applied and the total cost payable by you will be NIL.
If your repair costs are above the $5000 ex GST Waiver limit then you will be required to pay the balance (difference).
IS THE DAMAGE WAIVER INSURANCE?
No. The IPG Damage Waiver is not Insurance. Your obligations remain in accordance with our Terms and Conditions of Sale & Hire for insuring the product whilst in your care.