Chartering can be an attractive option when, due to cost and other reasons, buying and maintaining equipment seem too big an expense for us, hence the need to charter (borrow, lease). Before chartering a piece of equipment, it’s important that you understand the various guidelines, rules, and regulations governing the process for its return, to avoid difficulties, damages, or loss. In returning chartered equipment, ensure that the equipment is in good shape, both its interior and exterior; read through the lease and return clauses and prepare a letter of intent to inform the leasing company; retain information about the equipment; and find out the shipping method of the company. In the following subheading, we look at these steps in more detail. Let’s Know About How to Return Chartered Equipment?
Steps to Return Charter Equipment
Condition of the equipment
Before beginning the process of returning a hired equipment, this is the first and perhaps the most important thing you must consider: the condition of the equipment you wish to return. The state or shape in which the equipment is, which includes both its exterior condition and its functionality, is what largely determines whether the equipment can be returned. Assessing the state of the equipment you intend to return is the first and probably the most important step to take when wanting to return chartered equipment.
Ensure that you wipe out personal data on the equipment
You have checked and seen that the equipment is in good shape. So what’s next? Erase any data—especially personal data!—you have stored in the piece of equipment. The company will not be held liable for the misuse of your personal information stored on the device. So to prevent such misuse or abuse, we advise that you wipe it out yourself. Protect your privacy.
Read over the return clause
The next step is to read your lease document carefully and ensure you are familiar with the terms and conditions as well as the return clause. This is very vital because the knowledge will guide you throughout the procedure and save you from litigation.
Prepare a letter of intent
Next is preparing a letter of intent to inform the charter or leasing company of your intention. This is important because it will provide the company with useful details such as what piece of equipment you’re returning and when they’re to expect it.
Retain information about the equipment
Please, remember to keep information such as model, receipts, and serial numbers of the equipment as well as its shipping information in case something happens after the equipment leaves you and is on its way.
Find out the company’s preferred shipping method
The leasing company might have a shipping method they prefer, so it’s important that you check with them and find out which. It will also help you negotiate an alternative if the company’s choice doesn’t work for you. When returning your chartered equipment, it is important that you take note of the return date stated in your lease to avoid extra charges for delays. Also, note that if returned equipment is damaged, the company might add a damaged equipment fee. It is necessary to have sound knowledge of the terms and conditions in the return clause, to avoid a fine.
Returning equipment chartered by someone else
In most cases, you can return equipment even if you were not the one who hired it. But we advise that when returning a piece of equipment on behalf of someone, you should ensure that whoever you’re representing provides full information about the equipment and, of course, the return bill. Make sure, also, to get the receipt that shows that the equipment was received, to prevent any complications from arising in the future.
Returning chartered equipment is not difficult
It’s really not difficult to return chartered equipment. It’s simple if you follow the required steps. Whether you do it occasionally or regularly, returning chartered equipment doesn’t have to be a hassle. The steps we have listed above—making sure equipment is in good condition, reading through the lease and return clause, wiping out your data on the equipment, retaining information about the equipment, preparing a letter of intent—will guide you and make the entire process seamless. And both you and the company will be grateful for it.
Frequently Asked Questions
Can I return damaged chartered equipment?
In some cases, you can. But you would have to pay a damage fee. Yet, not all companies accept damaged chartered equipment even if you offer to pay the damaged fee. So handle equipment you plan on returning with care!
Can I still return equipment after exceeding the due date in the return clause?
Yes, you can. Most charter companies require you to pay a fee for returning the equipment late. But to be on the safe side, try to return chartered equipment in time, as stated in the return clause.
What if I have misplaced all information about my chartered equipment, especially my receipt?
You are strongly advised to keep all information pertaining to your chartered equipment, such as receipts, model, and serial number safe, to avoid unnecessary complications. But in case you misplace said information, contact the company.
How can I find out the shipping method of my chartered equipment?
Your company’s preferred shipping method should be found in the return clause. This is part of the reasons we advise you to read your lease carefully.
