TERMS AND CONDITIONS OF HIRE

1. LIABILITY

Except for normal wear and tear of rental equipment the hirer assumes all responsibility for damage to and/or loss of rental equipment. MURRAY TREGONNING and ASSOCIATES P/L (hereafter known as "the company") shall not be liable for any loss or damage by hired equipment, whether to the hirer or its property or of any other person, firm or corporation, nor shall the company be liable for any delay or failure thereof, or for any interruption or use of same or loss resulting therefrom. The company's liability, if any, for furnishing the wrong or defective equipment to the hirer is limited to a rebate of the rental charged for such equipment.

The hirer hereby indemnifies the company, its agents and employees from liability for any or all losses, damages, injuries, claims, demands and expenses, including legal expenses of whatsoever kind or nature arising out of the use and/or condition (including, with our limitation, latent and other defects, whether or not discoverable by the company) of the hired equipment.

The hirer must ensure that the equipment is used in a skilful and proper manner and only by persons having the appropriate qualifications and experience and who are familiar with the equipment, hired equipment must not be used on any abnormal or hazardous assignment or be taken from the ground other than on a regular scheduled flight by a recognised airline, taken aboard ships or boats, etc., or taken out of Australia without prior consent of the company.

The hirer will not assign, transfer or sublet its rights under this hire agreement, will not pledge, lien, mortgage or encumber the hired equipment or its rights hereunder and the hirer will not permit same to be subjected to any lien charge or encumbrance.

In the event of loss or damage to the hired equipment, the hirer agrees to pay the company all costs and expenses of such repair and/or to pay rental at the current rate prevailing at that time for such period of time such lost or damaged equipment is repaired or replaced, up to a maximum of thirteen weeks, the hirer is advised to make sure adequate insurance cover is obtained to cover this instance.

The hire charge for equipment and the hirer's liability for physical loss or damage thereto commence when the equipment leaves the company's premises and terminate when it is returned there.

2. INSURANCE

Insurance for full replacement value ex MURRAY TREGONNING and ASSOCIATES P/L is the responsibility of the hirer. Where insurance cover is to be arranged under the company's own insurance policy, a charge will be made by the company to the hirer accordingly. MURRAY TREGONNING and ASSOCIATES P/L will charge 5% of the hire fee for insurance and the hirer is responsible for the first $5,000.00 excess on any one claim. Where insurance is required for equipment hired for use outside Australia, a figure will be quoted based upon length of hire and destination, the above excesses will apply.

It is emphasised that not withstanding any such insurance which may be in force, clients remain liable for all risks of loss or damage (including, for example, war risks) while the equipment is in possession without limitation. The hirer should bear in mind that the company's insurers, in common with other insurers, will not underwrite the consequences of failure to take reasonable precautions for the safety of equipment.

The insurance does not cover for example, misuse, mechanical or electrical derangement, confiscation by customs or other authorities, equipment left unattended, i.e. in an unlocked vehicle, failure to take reasonable safety precautions for the equipment.

3. TERMS

Strictly net, payable in full on receipt of invoice. Credit can be arranged on approval to customers, overdue accounts will incur a finance of 2% per month - 24% per annum. Credit is seven days from invoice date.

The hirer accepts the above undertakings on behalf of the company in full discharge and satisfaction of all or any rights or claims against the company in respect of any defect in the equipment and agrees that the company shall be limited as herein before mentioned. All other terms, warranties or conditions whether express or implied by statutory instrument, custom of the trade or practice or in any other way whatsoever are hereby expressly excluded.