Terms and Conditions
LESSOR INSURANCE PROGRAM AGREEMENT
This Lessor Insurance Program Agreement (“Agreement”) is made by and between Equipment Insurance Services, LLC, a Washington limited liability company (“EIS”) and you, a lessor user of the insurance program offered by EIS (“You”, “Your”, or “Lessor”).
AGREEMENT
In order to use this eisquote.com website (“Site”) and participate in the lessor insurance program offered by EIS through the Site (“Program”), You agree to abide by and be legally bound by the terms and conditions of this Agreement. Please read this Agreement carefully before registering as a Lessor under the Program. By registering as a Lessor under the Program, You indicate Your acceptance of all of the terms and conditions of this Agreement, and acknowledge that it is a legally binding contract. If You do not accept this Agreement, do not use the Site as a participant in the Program (“Participant”).
THE PROGRAM
The Program is available to equipment lessors to satisfy the insurance requirements under most equipment lease agreements. EIS will provide an online quotation for the specific equipment or other property identified by You (collectively, “Equipment”), and You can accept the insurance on the Equipment or choose not to accept it. This process is more fully described below.
You may become a Participant upon EIS’s acceptance of Your application submitted to EIS. The initial application will be completed and submitted online, and an EIS representative will contact You for additional information. As more fully described in our Privacy Policy, EIS will not share information about You or Your business with any third party without Your permission. By submitting Your application, You agree that EIS can share the information in Your application with our brokers, underwriters, and insurers solely for the purpose of Your participation in the Program. You represent and warrant that all of the information presented in Your application and otherwise provided to EIS as part of the application process is true and correct, and that You will immediately advise EIS of any errors or changes in such information.
LOGIN
You will be asked to provide a user name and password, which will be required to access the Site and participate in the Program after Your application has been approved. This login information is not to be used by any person or entity other than You, and You should protect this information as confidential. You must notify EIS immediately if You need to change Your login information due to theft or other reason.
You may grant access to the Site for Your employees and authorized agents at two levels. The first level will allow the user to secure quotes and bind coverage. The second level will allow the user to act as Your administrator for the Site, and such user will have access to information about the Equipment insured, Your lessees, and Your lease contracts. You are solely responsible for use of the Site by any person using Your login information, and EIS shall have the right to rely on such login information as Your permission to use the Site on Your behalf.
QUOTATION
Insurance premiums are based upon class and price of Equipment to be insured. You can obtain a “quick quote” for the Equipment based upon the prompts on the Site needed to provide a quotation.
Quotations provided on the Site for Equipment are valid only until the last business day of the calendar month in which each such quotation is provided.
ACCEPTANCE
After obtaining a quotation for insurance on the Equipment, You will have the option to submit the request for insurance at the rate quoted. If You elect to submit a request, EIS will then bind the coverage through third party insurers. EIS reserves the right not to bind coverage for Equipment in the event the information submitted is incomplete or inaccurate, the type of Equipment is not insurable, or for any other lawful reason in the discretion of EIS. Additionally, different rates may be charged for the same Equipment based upon different risks associated with the use or location of the Equipment, or other factors.
Once You have submitted the request to bind coverage and EIS agrees to accept Your request, the coverage is bound and You agree that there is a binding contract for insurance and You are responsible for the payment of premiums.
All rates for insurance coverage are subject to change even after coverage is bound, and EIS will give notice of any rate changes not less than 30 days before such changes become effective; provided, however, that any rate change will become effective as of the first day of the applicable calendar month.
SCHEDULE OF EQUIPMENT; LESSEE INFORMATION
After EIS binds coverage for the Equipment, the Equipment will be added to the Schedule of Equipment that is insured through the Program for You, together with other information regarding the lessee and Your lease contract placed in the Contract Manager page of the Site. In order to ensure that coverage is provided for the Equipment, You must provide all of the information for new Equipment as set forth on the Contract Manager site and as requested by EIS and the third party insurers.
EIS will provide confirmation of insurance coverage to You, and upon request, will provide a .PDF version of a certificate of insurance to Your lessee in a form designated by You, but in every case subject to the written approval of EIS.
PREMIUMS; PAYMENT
Insurance premiums are charged effective the date insurance is bound for the applicable Equipment. If insurance is bound on a date other than the first day of a month, the premium is pro rated for the initial month.
You will receive a monthly invoice from EIS for all premiums and other charges due and owing. All payments are due ten (10) days from the invoice date. EIS reserves the right to provide invoices via hard copy or electronically. You agree to make all payments to EIS by electronic funds transfer per instructions from EIS in its sole discretion, unless otherwise agreed in writing by EIS.
Except as provided in this Agreement, You are responsible for the payment of all premiums for insurance coverage bound by EIS regardless of whether Your lessee reimburses You for such premiums. You are also solely responsible for collection of premiums from Your lessee, and solely responsible for compliance with applicable laws in the event You assess any additional fees or charges in connection with premiums charged to You under the Program.
Any amounts owed by You and not paid when due will be subject to interest at the lesser of (a) one and one-half percent per month (18% per annum), or (b) the maximum rate allowed by applicable law. For avoidance of doubt, this is a business-to-business transaction and no individual consumer is offered insurance coverage directly through the Program.
CLAIMS
All claims for losses to Equipment insured by EIS will initially be submitted via email on the Site. As necessary, EIS and/or its third party insurers will contact Your designated claims representative to process the claim. In order to process a claim, You must provide all information requested by EIS and You may need to complete additional forms and other documentation regarding the loss and resulting claim to be submitted to EIS via email or on written forms. The third party insurers may conduct independent investigations and have other requirements regarding notice and processing of claims, and You must consult your insurance contracts for the applicable provisions and procedures.
TERMINATION OF COVERAGE; CREDITS
Insurance coverage provided through EIS for any item of Equipment can be cancelled upon written notice from You. Notice of cancellation must be given using the Contract Manager function on the Site, and all information required to properly notify EIS of such cancellation must be provided. Notice periods for claims, continuation of coverage, and return of premiums, if any, is governed by the applicable insurance contracts.
TERMINATION OF AGREEMENT
Either EIS or You can terminate Your participation in the Program at any time upon thirty (30) days written notice. All claims must be filed within the time frames set forth under the applicable policies of insurance, including claims for losses incurred prior to, but not yet reported as of, the effective date of termination.
EIS can immediately terminate Your participation in the Program if any of the following occur:
* EIS discovers that any of the information provided in Your application to become a Participant is false or misleading;
* You breach any term or provision of this Agreement or the Terms of Use for the Site; or
* You fail to pay when due any premiums associated with insurance purchased through the Program or other sums due and owing to EIS.
TERMINATION PROVISIONS UNDER EITHER OR BOTH OF (A) THE THIRD PARTY INSURANCE POLICIES AND (B) APPLICABLE STATE LAW MAY DIFFER FROM THOSE SET FORTH ABOVE REGARDING IMMEDIATE OR OTHER TERMINATION OF YOUR STATUS AS A PARTICIPANT, AND THE POLICY PROVISIONS AND APPLICABLE STATE LAW WILL CONTROL WITH RESPECT TO COVERAGE UNDER THE POLICIES.
SERVICE AND SUPPORT
EIS will provide support for the Program as indicated on the Site and in accordance with the terms and conditions of this Agreement.
NOTICE
EIS will advise You via email from time to time regarding any changes or additions to this Agreement, the Program or related products and services.
PROGRAM CHANGES
EIS reserve the right to change, modify, add, amend, or remove portions of this Agreement or the Program in its sole discretion any time. In the event of any material change, EIS will notify You via email and/or by a posting on the Site at least seven (7) days prior to the effective date of any such change. If You do not wish to accept the changes, You have the right to terminate this Agreement as provided for above.
POLICIES OF INSURANCE
Insurance under the Program will be provided by a Vendor Single Interest Leased Property insurance policy or comparable policy issued by a company rated A+ or better, this policy may include a deductible, which will be funded through premiums quoted by EIS. You agree that the funding of this insurance is an integral part of the Program and along with the deductible, represent the coverage provided under the Program. You will enter into insurance contracts directly with the insurer(s). Premiums quoted by EIS include both the policy and the deductible.
EIS is not an insurance company, and is the agent for insurance companies providing coverage under the Program.
IN THE EVENT OF ANY CONFLICT BETWEEN THIS AGREEMENT AND ANY APPLICABLE INSURANCE POLICY OR APPLICABLE STATE LAW, THE TERMS OF SUCH INSURANCE POLICY OR STATE LAW SHALL CONTROL.
LIMITED WARRANTY
EIS warrants that it will use its commercially reasonable efforts to maintain the Program and the Site in a professional and workmanlike manner. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EIS HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FINESS FOR A PARTICULAR PURPOSE, IN CONNECTION WITH THE PROGRAM, THE SITE, AND ALL RELATED SERVICES AND PRODUCTS. WITHOUT LIMITING THE FOREGOING, EIS SPECIFICALLY DISCLAIMS ANY WARRANTY THAT (A) THE SITE WILL BE UNINTERRUPTED OR ERROR-FREE, (B) DEFECTS WILL BE CORRECTED, (C) THAT THERE ARE NO VIRUSES OR OTHER HARMFUL COMPONENTS THAT MAY BECOME ASSOCIATED WITH THE SITE, (D) THE SECURITY METHODS EMPLOYED BY EIS WILL BE EFFECTIVE OR SUFFICIENT, (E) ALL INFORMATION WILL BE CORRECT, ACCURATE, OR RELIABLE. SOME OF THE FOREGOING EXCLUSIONS MAY NOT BE ENFORCEABLE UNDER APPLICABLE LAW. EIS will use commercially reasonable efforts to maintain the Site in good working order, but technical difficulties may be encountered from time to time that result in temporary service interruptions. You understand and agree that such service interruptions are normal and will not constitute a breach of this Agreement or any applicable warranty. EIS WILL HAVE NO LIABILITY IN THE EVENT OF MISUSE OF OR UNAUTHORIZED ACCESS TO THE SITE BY ANY PERSON WHO GAINS ACCESS TO YOUR LOGIN INFORMATION, UNLESS SUCH ACCESS IS GAINED THROUGH THE SOLE NEGLIGENCE OR SOLE MISCONDUCT OF EIS.
LIMITATION OF LIABILITY
EIS SHALL NOT UNDER ANY CIRCUMSTANCES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR RELATED THE USE OR INABILITY TO USE THE SITE OR THE PROGRAM, ANY ERRORS OR OMISSIONS IN THE INFORMATION PROVIDED ON OR IN CONNECTION WITH THE SITE, ANY ASPECTS OF THE PROGRAM OR THE PRODUCTS OR SERVICES PROVIDED. SUCH LIMITATION INCLUDES BUT IS NOT LIMITED TO DAMAGES FOR LOSS OF GOODWILL, LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF BUSINESS OPPORTUNITY, LOSS OF PROGRAMS OR DATA, OR OTHER LOSS. THE FOREGOING APPLIES NOTWITHSTANDING THE KNOWLEDGE OF OR EXPECTATION BY EIS THAT SUCH LOSSES WERE FORESEEABLE. IN ANY JURISDICTION WHERE THE FOREGOING LIMITATION OF LIABILITY IS NOT ENFORCEABLE, THE LIABILITY OF EIS SHALL BE LIMITED TO THE SMALLEST AMOUNT ALLOWED BY APPLICABLE LAW.
PROPRIETARY INFORMATION; PRIVACY POLICY
All of the processes, forms, and other aspects of the Site and the Program are proprietary to EIS, and You agree not to use the information, processes, forms, and other materials presented on the Site for any purpose other than participation in the Program. Without limiting the foregoing, You agree that to the extent enforceable by applicable law, You will not use such materials to engage in or advise a business that intends to provide or provides services that compete with those provided by EIS through the Program.
EIS will not disclose confidential information regarding You or Your business or any information provided regarding Your lessees except as expressly provided for in this Agreement as necessary to provide insurance under the Program. Additional terms are set forth in the EIS Privacy Policy.
ASSIGNABILITY
You may not assign Your rights or obligations under the Program or this Agreement unless all such rights and obligations are assigned to a parent or affiliated company upon thirty (30) days prior written notice to EIS. Any other assignment shall be with the approval of EIS, which approval shall not be unreasonably withheld. EIS shall have the right to assign this Agreement to a third party at any time, provided such assignee assumes all of the obligations of EIS under this Agreement.
FORCE MAJEURE
Neither You nor EIS will be liable for a failure or delay in performance (except with respect to Your obligation to make payments for premiums and any other amounts due under this Agreement or the Program) in the event of strikes, acts of terrorism, riots, earthquakes, floods, other natural disasters, and other causes beyond the reasonable control of the performing party. Such excuse of performance shall last only so long as the condition preventing performance exists, and the party seeking excuse from performance shall take all reasonable actions to resume performance as quickly as possible.
MISCELLANEOUS
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Washington without regard to conflict of law principles. Venue in any action arising out of or relating to this Agreement shall be in Seattle, Washington. No waiver by either party of a right on any one occasion shall constitute a waiver of such right on another occasion, and all such claimed waivers must be in writing signed by the party against whom the waiver is claimed. If any provision of this Agreement violates any law or is unenforceable for any other reason, it shall be severed from this Agreement without affecting the rest of the Agreement. Neither party is the agent or franchisee of the other party, and neither party, under any circumstances, may bind the other party to any agreement or obligation to any third person without the written consent of the party being bound. In all matters relating to this Agreement, both parties shall be acting solely as independent contractors and shall be solely responsible for the acts of their respective employees, contractors and agents. This Agreement, the Terms of Use, Privacy Statement, and Security Policy constitute the entire agreement between EIS and You, and supersede all written or oral agreements.
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