Rental Agreement

INTENT

Swire Oilfield Services, L.L.C. terms and conditions will apply to any and all tools and equipment rented by Swire Oilfield Services, L.L.C. Terms and Conditions apply to any and all rentals of Swire Oilfield Services, L.L.C.’s property.

TERMS AND CONDITIONS

Customer of Swire Oilfield Services, L.L.C., will accept and agree to the rental Terms and Conditions of lease.

  1. "Ownership of Property"

    Swire Oilfield Services, L.L.C.’s rental equipment will at all times remain the property of Swire Oilfield Services, L.L.C.

  2. "Minimum Rental Period"

    A minimum of five (5) days rental will be charged on all equipment. Long term rental agreements are available and any Term or Condition for same shall be agreed upon by both Swire Oilfield Services, L.L.C. and the Customer prior to the commencement of the equipment rental.

  3. "Commencement of Rental Period"

    Rental period begins when equipment leaves Swire Oilfield Services, L.L.C.’s facility. Rental period ends upon return of the equipment to Swire Oilfield Services, L.L.C. facility located at 1667 Wiemann Road, Houma, LA 70363.

  4. "Transporting of Equipment"

    The Customer will be responsible for all transportation and freight charges. The customer is fully responsible for any loss or damage which occurs during the transportation of the equipment. Unless previous arrangements are made, no return equipment will be unloaded between the hours of 8:00PM and 7:00AM.

  5. "Customer Liability"

    1. The Customer is responsible for any loss or damage to Swire Oilfield Services, L.L.C.’s equipment which occurs during the rental of said equipment.
    2. All costs for repairs made to damaged equipment will be charged to the Customer.
    3. Rental equipment lost, not returned, or damaged beyond repair will be billed to the Customer at the current replacement prices.
    4. HURRICANE SEASON – when a hurricane watch (sustained winds of 73 mph or greater are possible within 36 hours) is issued by the National Weather (Hurricane) Center to include Houma, Louisiana (our facility), Swire Oilfield Services will cease to receive equipment from customer locations or docks. All equipment not returned to our Houma facility at this point, will remain on "RENT" status and the customer will be responsible for the "CARE, CUSTODY and CONTROL" of such equipment.
    5. The Customer will be responsible for returning all equipment in proper working order, clean of any fluids, products, cement, or Naturally Occurring Radioactive Material (NORM).
    6. The Customer will be charged for disposal costs and time necessary to remove and clean residual material from equipment.

  6. "Hold Harmless Policy"

    The Customer agrees to indemnify and hold Swire Oilfield Services, L.L.C. harmless from any and all damages or losses, by Customer or their Agent, which may result from rental, usage, or transportation of Swire Oilfield Services equipment.

  7. "Modification of Equipment"

    The Customer is strictly prohibited from by-passing any safety devices, or making any modifications to Swire Oilfield Services, L.L.C.’s equipment.

  8. "Terms of Payment"

    All rental charges will be due and payable thirty (30) days following invoice date. The Customer agrees to pay 1 ½% monthly rate of interest on unpaid invoices. Lessee will be responsible for all collection costs and attorney’s fees.