Frequently Asked Questions

Who lists on AgShared?

Small individual farms, larger corporate farms, and tractor/equipment dealers all list on AgShared. The site allows any grower to save capital by opening access to rentals, and creates new channels of revenue through renting equipment that otherwise would be sitting in a shed.

What about insurance? What happens if there is any damage to my equipment?

We collect proof of a renter's property liability insurance or general liability insurance before each and every rental arrives on site. Additionally, we require that any damages incurred during a rental period are paid for by the renter, who can then create a claim through their insurance company. Our support team is available to help through any situation, which allows our customers to have peace of mind through every equipment rental on AgShared.

To help ease any potential damages claims, we ask that listings capture as many details and photos as possible, including of recent service records.

What kind of insurance should I have as a renter?

From our renter terms: for all property covered by the rental, the Renter shall provide, at their own cost and expense, comprehensive, fire, theft, and additional combined insurance coverage for not less than the market value of the Leased Equipment. Renter shall maintain at its own expense commercial general liability and property-damage insurance. The policy will be for primary coverage and shall have limits of no less than: (a) $1,000,000 combined single limits per occurrence; and (b) $500,000 combined single limits or full replacement costs for all property or physical damage.

Renter shall provide Company with certificates of insurance evidencing the required policies prior to any shipment of equipment and at any time upon Company's request.

Excess Liability Indemnity. Renter will indemnify, defend and hold Owner, Company, its agents, and employees, harmless against all loss, liability, and expense, including reasonable attorneys’ fees, in excess of the provided limits of liability insurance for bodily injury (including death) or property damage caused by or arising out of the ownership, maintenance, or use of the Leased Equipment. Renter will further indemnify, defend, and hold harmless Owner, Company, its agents, and employees, from loss, liability, and expense, including reasonable attorneys’ fees, because of Renter's failure to comply with any provisions of any insurance policy, or because of Renter's failure to comply with the provisions of the rental contract.

If any Rented Equipment is lost, stolen, destroyed, or damaged beyond repair, Renter will pay Owner in cash the fair market value of the Rented Equipment, as reasonably determined by Owner, minus any net proceeds of insurance for the Rented Equipment received by Renter. On payment, the rental contract will terminate with respect to that item of Equipment and Renter will become entitled to the Rented Equipment on an “as-is” basis, without warranty, express or implied, for any matter whatsoever."

What kind of service records should I upload on listings?

Service records should help show the current state of your equipment, and can be used in case of any damage done to your equipment. A recent comprehensive maintenance record, especially one that shows no to minimal hour change between inspection and rental, can go a long way in ensuring all parties are treated fairly in case of any dispute about damages, and can help give renters peace of mind that the equipment they receive will be in good working condition.

What is the standard usage hours and overtime fees for AgShared rentals?

Our standard usage is 8 hours per day, 40 hours per week, 160 hours per month, unless agreed upon in writing (in the listing/booking conversations between the owner and renter).

Additionally, beyond this, our standard fees for additional hours beyond these daily, weekly and monthly limits are 1.5x the hourly rental rate. In other words, if a rental is booked at $1500 a month, and a renter uses it for 170 hours, we would find the overage charge as follows:

$1500 per month / 160 hours = $9.375 per hour

$9.375 x 1.5 = $14.06 per overage hour

170 hours used - 160 standard hours in contract = 10 overage hours

$14.06 per overage hour x 10 overage hours = $140.60 overage charge

How does scheduling work? What if I need to change my schedule?

Currently, we allow for flexible scheduling as arranged between owner and renter. This gives all parties time to plan accordingly, including (currently) arranging transportation. We do this through an "approximate start" in the listing offer process, details of which can be finalized in the chat conversations between owner and renter. At this point, we think this simulates what it would be like for farmers to meet at a bar or Friday night football game and shake hands over a rental.

If scheduling needs to change, we ask that you reach out to the owner or renter to confirm alternative dates. If an alternative cannot be arranged, payment will not be processed, or if it has already processed, we require payment to be returned to the renter.

How does freight/transportation work?

While we are working on fully integrating transportation options, we currently have two transportation options:

1. We allow owners and renters to arrange transportation themselves, since many dealers and growers already have trusted freight and transportation options.

2. We can help arrange transportation through our own freight partners.

How does payment work?

Our payment partner is Stripe, the largest private fintech company in the world. Stripe is secure, having processed $1 trillion in payments in 2023.

Currently, we collect all payment information at time of booking. This payment is collected 72 hours after booking and is distributed to owners.

What happens if payment has processed and my rental is cancelled?

If your rental is cancelled because an owner cancels, you will receive a full refund of your payment. If a renter cancels within 2 weeks of a job, that renter will forfeit 50% of the total rental payment. If a renter cancels within 1 week of a job, that renter will forfeit 100% of the total rental payment.