Falcon Oil & Gas Oilfield Services
With extensive technical expertise and high performance oil and gas rental equipment for drilling, workover, and production applications, Falcon Oilfield Services sets the standard for excellence helping customers meet both their operational and commercial targets. Falcon Oilfield services offers customers the flexibility to rent and return or keep and buy equipment as their needs change.
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Terms and Conditions [+]
Well conditions or site conditions including adverse weather conditions or force majeure, which prevent satisfactory operation of the equipment, do not relieve the Lessee of its responsibility for rental charges. The Lessee assumes all responsibility for the Equipment while out of possession of the Lessor and agrees to return such rental equipment to the Lessor in as good condition as it was in as at the effective date of the Agreement, excepting only fair wear and tear from reasonable use. All Equipment lost or damaged beyond repair will be paid for the Lessee at the its replacement cost including any expenses incurred by the Lessor due to currency exchange rate differences/importation/customs costs. All damaged Equipment, which may be repaired, will be repaired by the Lessor at the Lessee’s expense, including any service charges, equipment hire and third party expenses incurred by the Lessor in repairing and servicing the Equipment.
All transportation charges in respect of the Equipment shall be borne by the Lessee. Rental commences when equipment leaves the Lessor’s yard and continues until returned thereto. Any damaged equipment that is being repaired will be charged at half rental rate until it is ready for service and any equipment that is lost by the Lessee will be charged at full rental until the same is replaced.
This Agreement shall be governed by and construed in accordance with the laws of Iraq, as they are applied and interpreted in the Kurdistan Region and the parties hereto acknowledge and agree, in the event of any dispute, to submit to the jurisdiction of the courts of the Kurdistan Region of Iraq.
TERMS: All payments are due in full from the Lessee within 30 days of the invoice date. Invoices are due and payable at the office of the Lessor in Erbil, Kurdistan. Interest at the rate of 12% of the amount owed shall be due to be paid by the Lessee 30 days after the due date covering the period from the due date to the date the sum owed is paid.