Tool Check-In/Check-Out Agreement

This Agreement ("Agreement") is entered into on [Date] by and between [CU Midwest Designs], hereinafter referred to as "Company," and [Subcontractor's Name], hereinafter referred to as "Subcontractor," collectively referred to as "Parties."

1. Tool Care and Maintenance:

1.1 Subcontractor agrees to use the tools provided by the Company with utmost care and responsibility. Any damage to the tools, including but not limited to wear and tear, misuse, or neglect, shall be the sole responsibility of the Subcontractor.

1.2 Subcontractor agrees to return the tools in the same condition as they were received, normal wear and tear excepted.

2. Fines:

2.1 In the event of any damage or loss of tools, Subcontractor agrees to pay for all repair costs, replacement costs, or associated expenses.

2.2 Fines for common issues are as follows (but not limited to):

  • Damage to Tools (per incident): [100.00] plus cost of new tool of same brand and style

  • Loss of Tools (per tool): [100.00] plus cost of new tool of same brand and style

  • Failure to Return Tools in Specified Condition: [100.00] other charges may apply

2.3 Any fines will be deducted from the Subcontractor's payment, and any remaining costs shall be paid by the Subcontractor within [7] days of notification.

3. Inspection and Check-In/Check-Out Procedure:

3.1 Subcontractor agrees to inspect the tools at the time of check-in and check-out, noting any existing damage or issues.

3.2 Any damage or issues discovered during the check-in process that were not previously documented will be the responsibility of the Subcontractor.

4. Termination of Agreement:

4.1 The Company reserves the right to terminate this Agreement at any time for violation of any terms outlined herein.

5. Governing Law:

5.1 This Agreement shall be governed by and construed in accordance with the laws of [Illinois].

6. Entire Agreement:

6.1 This Agreement constitutes the entire agreement between the Parties and supersedes all prior or contemporaneous agreements, understandings, and representations, whether oral or written.

7. Acceptance of Terms:

7.1 By filling out this form and submitting it, the Subcontractor acknowledges that they have read and understood the terms of this Agreement and agree to be bound by its provisions.

7.2 This Agreement shall come into effect upon submission of this form and shall remain in effect until the tools are returned to the Company in accordance with the terms outlined herein.

7.3 Subcontractor's electronic submission of this form shall be considered equivalent to a physical signature and will be legally binding.