LEASING PROGRAM
Geothermal Resource Technologies, Inc. (GRTI),
the leader in formation thermal conductivity testing, offers a program for short
term or long term leasing of complete, state-of-the-art testing and data
acquisition units.
GRTI maintains a focus on the quality,
reliability and user-friendliness of its formation thermal conductivity (FTC)
test units and accompanying accessories. We continually strive to offer the most
advanced, most reliable equipment possible in order to reduced start-up time and
operating cost. Once an improvement has been identified and fully researched, GRTI
is committed to up-grading each and every test unit within it’s growing fleet.
We are committed to continue to build additional test units to be able to keep
pace with the growing demand of the closed-loop ground-coupled heat pump
(GeoExchange) industry.
Based on extensive experience in analyzing
thermal conductivity test data, as well as independent university research
funded by the American Society of Heating, Refrigerating and Air-Conditioning
Engineers, Inc. (ASHRAE), it is GRTI’s position that FTC tests need to
be ran for a minimum of 36 hours with a preference towards a 48-hour duration.
Due to the analysis procedure employed by GRTI, run durations beyond 48
hours are not necessary and in some cases may generate data that is difficult or
impossible to utilize. Even though GRTI does not promote shorter test
durations, we will analyze the amount of data specified by the design engineer
as thoroughly as possible and provide a final report.
GRTI will require that the Lessee sign a
lease contract outlining the lease conditions as well as the requirement to
carry liability insurance and possibly to supply a Certificate of Insurance from
the current insurance carrier.
All data collected using GRTI’s FTC test
unit will be exclusively analyzed by GRTI. Our data acquisition device
stores the raw data internally in non-volatile memory and can only be retrieved
by GRTI. If GRTI damages the data during retrieval or if data is
not collected due to a malfunction of data acquisition equipment, then GRTI
will be financially responsible for the re-collection of data in order to
finalize the analysis. On the other hand, if the data is damaged for other
reasons (e.g. due to power interruption or failure, the run duration is too
short, etc.), then the Lessee is financially responsible for the re-collection
of data.
GRTI's test units have been constructed
so that they are easily shipped via overnight air service.
Regardless of the ship method, a single day lease credit will be
allowed for the actual unit being shipped.
Daily Lease Plan
GRTI will supply a FTC unit and
accompanying accessories along with a Data Acquisition (DA) unit on a daily
basis to pre-qualified companies or individuals willing to sign a daily lease
contract.
GRTI will ship the two components via UPS
Next Day Air®, Next Day Air Saver® or 2nd
Day Air® which ever the lessee prefers in order to meet the required
time table for the test. The lease will begin on the day the units are shipped
to the lessee and end on the day that each component is received by GRTI
(based on actual days) less one day. Example:
Complete
unit ships on Wednesday and is returned to GRTI on the following
Wednesday. 8 days of total elapsed time – 1 day = 7 assessed days at the daily
rate.
Lessee will be invoiced for all applicable fees
upon conclusion of the data analysis and/or return of the complete test unit.
Full payment will be due within 15-days of invoice date at the completion of the
analysis report. A down payment may be requested prior to shipping based on the
discretion of GRTI.
Ý
top
of page
In situations where the number of consecutive
usable days for a test unit is projected to exceed 20-days within any 30-day
period, GRTI will supply a FTC unit and accompanying accessories along
with a Data Acquisition (DA) unit on a monthly basis. A pre-qualified company or
individual interested will be required to sign a monthly lease contract with GRTI.
Lessee will be responsible for maintaining the FTC in good working order during
equipment lease period. GRTI will be responsible for any and all failures
due to poor workmanship during the same lease period.
Under this plan, the complete unit is leased for
a 30-day period for the same cost of 20-days under the Daily Lease Plan. If,
upon the return of the complete unit, it is determined that the total number of
days leased is less than 20, the fee schedule defaults to the Daily Lease Plan.
If additional days are required beyond the initial 30-days, the additional days
will be computed using the Daily Lease Plan until the additional days total 20,
at which time the Monthly Lease Plan will once again apply.
GRTI will ship the two components via UPS
Next Day Air®, Next Day Air Saver® or 2nd Day Air®
which ever the lessee prefers in order to meet the required time table for the
test. The lease will begin on the day the units are shipped to the lessee and
end on the day that each component is received by GRTI (based on actual days). Example
1: Complete unit ships on April 1 and is returned to GRTI on April
15. 15 days of total elapsed time = 15 days – 1 day = 14 days at the daily
lease rate. Example 2: Complete unit ships on April 1 and
is returned to GRTI on April 30. 30 days of total elapsed time = full monthly
rate. Example 3: Complete
unit ships on April 1 and is returned to GRTI on May 15. 45 days of total
elapsed time = full monthly rate plus 15 days at the daily lease rate.
The first monthly lease payment shall be paid in
full within 15-days of invoice date, which will be issued at the time of
shipping the complete test unit. Lessee will be separately invoiced upon
conclusion of each data analysis for each actual test. Analysis payment will be
due within 15 -days of invoice date at the completion of the analysis report. In
the event the complete test unit is returned prior to actual use of the initial
20 days, a refund (or credit if original invoice is not yet paid) will be given
for the difference between what was invoiced and what actually accrued.
Ý
top of page
Annual lease Option
GRTI will supply a FTC unit and
accompanying accessories on an annual basis along with a Data Acquisition (DA)
unit on an "as-needed" basis to pre-qualified companies or individuals
willing to sign an annual lease contract. Lessee will be responsible for
maintaining the FTC unit in good working order during possession. GRTI
will be responsible for any and all failures due to poor workmanship during the
lease period.
Leads that are generated by GRTI for a
complete test service within the Lessee’s geographic area will be forwarded to
the Lessee for follow-up. In the event the contact is requesting multiple
quotations, GRTI reserves the right to provide a quotation on a
competitive basis.
Under this plan, the FTC unit will stay in the
possession of the lessee for the duration of the lease period. The DA unit will
then be leased on an "as needed" basis at a daily lease rate.
Additionally, the lessee will be charged the actual freight costs to ship the DA
unit to and from the test location plus the analysis fee for each test analyzed.
GRTI will ship the two components via UPS
Next Day Air®, Next Day Air Saver® or 2nd
Day Air® which ever the lessee prefers in order to meet the required
time table for the test. The lease of the FTC unit will begin on the day the
unit is shipped to the lessee and end on the day prior to the anniversary of the
lease. The lease on the DA unit will begin on the day the unit is shipped to the
lessee and end on the day that it is received by GRTI (based on actual
days).
The annual lease fee will be invoiced at the time
the FTC unit is shipped. Full payment shall be paid in full within 15-days of
invoice date. Lessee will be separately invoiced upon conclusion of each data
analysis for each actual test during the annual lease period. Payment for any
and all additional invoices will be due within 15 -days of invoice date.
Ý
top of page
For additional information on the various lease options, please contact
Geothermal Resource Technologies, Inc.
