Rental Policy: Assets and or small tools that will be required for less than three months will be considered leased. This is in the event that the sending location has no foreseeable usage of the tool during the loan period.
Asset Rentals
Prior to the delivery of loaned assets the lending location will complete a Fixed Asset Movement Form with signatures of both the lending and borrowing location managers. This transfer form will be used in the event that assets are not returned within the three months or the planned period of usage.
Lending locations will cross charge borrowing locations monthly depreciation for the months the asset is on lease. The borrowing location will be charged a full month’s depreciation regardless of the number of days during the month the asset was in the possession of the borrowing location. Therefore, an asset with a normal monthly depreciation of $200 USD, and on lease between Dec 30th and Feb 5th would lease for $200 × 3 months or $600 USD.