Working draft, pending final legal review. Not yet binding. Placeholder to be finalized by counsel before first transaction.
This is a plain-language summary of intended terms for the intermediated model. Final, binding terms will replace this page.
AssetLoop Technologies Inc. is the sole counterparty on every rental. Owners and renters do not contract with, message, or learn the identity or address of one another at any time.
Owners submit equipment via the intake form; AssetLoop reviews and publishes an identity-shielded listing under its own account. Owners set the monthly rate and approve each booking of their machine.
Rentals are monthly-minimum and may run month-to-month or indefinitely thereafter. Termination and wear terms are set out in the rental agreement per transaction.
Renters must carry commercial general liability insurance at the stated minimum and provide a certificate of insurance before equipment is dispatched. No equipment ships without verified proof.
LoopShield is an optional damage waiver that caps renter out-of-pocket for sudden and accidental damage. It is a damage waiver, not insurance, and excludes gross negligence, willful misconduct, and out-of-spec use.
Deposit and first-period rent are collected into secure escrow before dispatch. Owner net is disbursed after confirmed delivery.
Disputes are handled by AssetLoop, not party-to-party, and adjudicated against documented condition standards.
Content contributed during listing or a transaction (photos, videos, manuals, notes) is licensed to AssetLoop, including for building the Equipment Knowledge Corpus and related model development. Final wording subject to legal review.
Questions: hello@assetloop.io