All equipment is rented pursuant to the following agreement:

The customer agrees to return all equipment to Caltech Audio Visual Services shop in the same condition as when the equipment was received by the customer, except for reasonable wear and tear resulting from the proper use thereof. The customer further agrees to reimburse the California Institute of Technology for the cost of replacement or repair, at the Institute's option, of the rented equipment should it become lost, stolen, destroyed, or damaged during the period that the equipment remains checked out to the customer. The customer agrees to make such reimbursement within (30) days of the date that the loss or damage is discovered. In the case of Institute departments or divisional customers, all losses will be billed directly to the customer's account. The customer then may seek possible reimbursement from applicable theft and casualty loss insurance programs.