Terms of Service

Last Updated: December 2025

These Terms of Service ("Terms") govern the rental of equipment from Goldman Industrial Solutions Inc. ("GIS", "we", "our", or "us"). By renting equipment from GIS, you ("Customer", "you", or "your") agree to be bound by these Terms.

1. Equipment Rental Rates

The following standard monthly rates apply to our equipment fleet. All prices are in United States Dollars (USD).

Rates are subject to change. Contact us for current pricing and availability.

2. Wet Hire vs. Dry Hire

2.1 Wet Hire (Excavator, Wash Plant)

Wet hire includes:

• Equipment rental
• Certified, experienced operator
• All maintenance and servicing
• Comprehensive equipment insurance
• Transport to and from site

2.2 Dry Hire (Generators, Pumps)

Dry hire includes:

• Equipment rental
• Delivery to site
• Basic equipment maintenance

Customer is responsible for:

• Operating the equipment
• Providing fuel
• Day-to-day care and monitoring

3. Deposits and Payment Terms

3.1 Security Deposit

A security deposit equal to one (1) month's rental is required before equipment delivery. The deposit is:

• Due upon signing the rental agreement
• Held for the duration of the rental period
• Refundable within 14 business days after equipment return, less any deductions for damages or outstanding charges

3.2 Billing Cycle

Rental fees are billed on a weekly basis. Payment is due within seven (7) days of invoice date.

3.3 Late Payment Penalties

• 7 days overdue: 5% late payment penalty applied to outstanding balance
• 14 days overdue: Additional 5% penalty (10% total)
• 21 days overdue: Service suspension; equipment may be recalled

3.4 Accepted Payment Methods

We accept payment via bank transfer, cash, or certified cheque. Payment details will be provided on your invoice.

4. Cancellation Policy

• 7-day notice required: Cancellations must be submitted in writing at least seven (7) days before the scheduled rental start date
• Within 48 hours: Deposits are non-refundable if cancellation occurs within 48 hours of the scheduled start date
• Early termination: Customers may terminate rental early with 7 days written notice. A pro-rata refund will be calculated for unused rental days

5. Service Areas

GIS provides equipment rental services to mining operations across all ten (10) regions of Guyana, including:

• Interior Regions: Regions 1, 7, 8, 9 - Remote mining operations in the hinterland
• Coastal Regions: Regions 2, 3, 4, 5, 6 - Accessible coastal and riverine areas
• Upper Demerara-Berbice: Region 10 - Linden and surrounding mining districts

Transport charges may vary based on location and accessibility. Contact us for a quote specific to your site.

6. Equipment Use and Care

6.1 Permitted Use

Equipment must be used only for lawful mining operations and in accordance with:

• Manufacturer specifications and operating guidelines
• All applicable Guyana mining regulations
• Environmental protection requirements

6.2 Prohibited Use

The following uses are strictly prohibited:

• Operation beyond equipment capacity or specifications
• Use by unlicensed or untrained operators (for dry hire equipment)
• Subletting or transferring equipment to third parties
• Modification or alteration of equipment
• Use for illegal activities

7. Damage and Liability

7.1 Normal Wear and Tear

GIS is responsible for normal wear and tear. This includes:

• Regular maintenance and servicing
• Replacement of consumable parts (filters, oils, etc.)
• Minor wear consistent with proper use

7.2 Customer Liability

The Customer is liable for damage resulting from:

• Negligence or misuse of equipment
• Operation contrary to manufacturer guidelines
• Failure to provide adequate fuel or basic care
• Theft or loss of equipment under Customer's control
• Damage caused by third parties at Customer's site

7.3 Reporting Damage

Any damage, malfunction, or incident must be reported to GIS immediately by phone at +592 763-8844. Failure to report damage promptly may result in additional liability.

8. Insurance

GIS maintains comprehensive equipment insurance covering:

• Equipment damage from accidents
• Third-party liability
• Operator injury (for wet hire)

Insurance does not cover damage resulting from Customer negligence, misuse, or failure to follow operating guidelines.

9. Equipment Return

Upon termination of the rental:

• Equipment must be made available for collection at the original delivery site
• Equipment should be in the same condition as delivered, less normal wear
• All accessories, attachments, and documentation must be returned
• GIS will conduct an inspection upon collection

10. Limitation of Liability

To the maximum extent permitted by law:

• GIS's liability is limited to the rental fees paid during the affected period
• GIS is not liable for indirect, consequential, or incidental damages
• GIS is not liable for loss of production, revenue, or business opportunities

11. Force Majeure

Neither party shall be liable for delays or failures in performance resulting from circumstances beyond their reasonable control, including natural disasters, civil unrest, government actions, or equipment shortages.

12. Dispute Resolution

Any disputes arising from these Terms shall be resolved through:

1. Good faith negotiation between the parties
2. Mediation, if negotiation is unsuccessful
3. The courts of Georgetown, Guyana, as a final resort

13. Governing Law

These Terms are governed by and construed in accordance with the laws of the Co-operative Republic of Guyana.

14. Amendments

GIS reserves the right to modify these Terms at any time. Changes will be posted on our website and will apply to new rentals from the date of posting. Existing rental agreements will continue under the terms in effect at the time of signing.

15. Entire Agreement

These Terms, together with any signed rental agreement, constitute the entire agreement between GIS and the Customer. Any prior agreements, representations, or understandings are superseded.