Equipment rental
Know who is behind the account before the machine drives off the lot
In rental you extend two things at once: credit on the invoice and possession of an asset worth many times the invoice. Recovering an unpaid balance is difficult; recovering a machine from a business that has gone quiet is worse.
- Typical terms
- Net 30 on account, deposits on new customers
- Asset exposure
- Often 10x the monthly invoice
- Decision window
- Before the equipment leaves
Where the money actually goes missing
- The asset at risk is worth far more than the outstanding receivable.
- Recovery depends on being able to find the business and its directors.
- Short-term rentals are approved quickly, often with the least verification.
- Damage and non-return disputes are far harder when the counterparty was never properly identified.
The workflow, in the order it runs
Verified identity on the rental account
The legal entity, registered office and directors are matched against Canadian registries, so the contract names a business that actually exists and is in good standing.
Bank confirmation for the deposit decision
A confirmed bank relationship in good standing is the difference between requiring a large deposit and not. Where the branch confirms nothing, you have your answer too.
Trade references from other rental yards
Ask directly whether equipment came back on time and whether the account has ever been placed on hold.
PPSA and insolvency searches on file
Registered security and prior insolvency both change the recovery picture. They belong in the file before the keys are handed over.
What ends up in the file
- Legal entity, registered office and directors
- Bank account standing and NSF history
- PPSA registrations against the business
- Bankruptcy and insolvency history
- Return and payment behaviour from other rental suppliers
- Insurance and signing authority of the person on the contract
CreditConfirm is not a bank, lender or credit bureau, and does not make your credit decision. It collects and verifies the information you decide on.