How Do I Buy...

Farm Equipment Rental

Buyer(s):
Lucas Schau

Description:

The rental of large agricultural and construction equipment should be directed through Procurement Services. Any rental agreement must be signed by Procurement Services. Refer to the University Policy Library for guidelines.


Procurement Services will review the agreement provided by the rental supplier. This agreement should include a description of the equipment, value, term of the rental period, condition, and who is responsible for insuring the equipment. If the supplier does not provide physical damage insurance, ISU must provide insurance. The Procurement Card cannot be used for this type of purchase since all agreements must be reviewed and signed by Procurement Services.

Large pieces of equipment may require physical damage insurance when rented. This protects ISU from liability should the equipment be damaged or destroyed. Contact Procurement Services for all rentals so that the agreement can be reviewed and insurance obtained. Do not sign the supplier agreement. Procurement Services will sign all rental agreements for farm equipment.

Procurement Procedure:

Create a requisition in Workday with any accompanying information about the requested purchase to Procurement Services (i.e. order form, quote, email from supplier, etc.). If you need assistance creating a requisition in Workday, email the information to finance_delivery@iastate.edu.