Maximize Asset Utilization Rate With Rental Software

Published On July 30, 2025 | 5 Min Read

Rental businesses operate in a highly competitive environment that demands maximum asset utilization rates for achieving higher profitability. Inefficient scheduling together with poor asset tracking and frequent downtime reduce rental returns substantially. The modern rental software for asset ROI has proven itself as a transformative solution because it helps track asset utilization in real-time while optimizing schedules for better asset management.

The following analysis demonstrates how rental companies can use advanced equipment tracking systems and asset performance management tools to enhance their rental income through efficient resource management.

What Is Asset Utilization Rate?

The Asset Utilization Rate represents an essential performance indicator which determines the effective utilization level of rental assets such as construction equipment and industrial tools during a particular period. Asset utilization rate reveals how many assets are actively producing revenue instead of sitting idle.

Formula for Asset Utilization Rate:

Asset Utilization Rate (%) = (Total Active Usage Hours / Total Available Hours) × 100

The utilization rate of a piece of equipment equals 50% when it operates for 50 hours out of 100 hours of availability. A high asset utilization rate indicates superior productivity monitoring and enhanced asset usage efficiency.

Why Asset Utilization Rate Matters for Rental Businesses

Rental businesses can substantially increase their profitability through asset utilization rate monitoring and improvement. Here’s why it’s important:

Maximize Rental Returns – Rental returns become maximized when assets operate at peak efficiency because they earn revenue more quickly.
Reduce Idle Asset Time – The process of identifying underused equipment helps organizations direct it to better utilization opportunities.
Improve Asset Scheduling – Understanding patterns of demand enables companies to improve their rental scheduling processes.
Lower Maintenance Costs – The tracking of asset downtime allows organizations to identify equipment that experiences frequent breakdowns so they can perform preventive maintenance.
Better Investment Decisions – Utilization data serves as a tool to determine which assets should be acquired or which existing assets should be retired from the inventory.

For further guidance on handling typical problems the article Rental Asset Management Challenges explains effective approaches to enhance rental asset operational efficiency.

Rental software plays a crucial role in enhancing the Asset Utilization Rate

Asset tracking methods using spreadsheets and manual logs fail to deliver immediate tracking capabilities. The combination of automation and IoT technology with analytics within rental software for asset ROI creates optimized asset utilization.

1. Real-Time Equipment Usage Tracking

Modern equipment usage tracking software incorporates IoT-enabled sensors or RFID Asset Tracking Software to monitor equipment usage in real-time. This data helps in:

Monitoring daily operational hours.
The detection of idle periods enables organizations to decrease the duration of idle assets.
The comparison between actual usage statistics and predicted usage targets enables organizations to enhance their asset utilization.

Construction rental companies can track assets in real-time to find machines with low usage which enables them to move equipment to high-demand sites.

2. Asset Downtime Tracking

The Asset Utilization Rate suffers when assets experience downtime. Rental software records all downtime occurrences because of maintenance requirements and repair delays as well as scheduling mistakes.

Benefits of Asset Downtime Tracking:

Predictive maintenance programs help organizations detect persistent equipment failures that require preventive interventions.
The reduction of unnecessary idle time leads to decreased revenue loss.
Fast replacement or repair of faulty equipment through asset performance management systems leads to better results.

3. Improve Asset Scheduling

The scheduling process should be optimized to keep assets constantly booked so they spend less time idle. Rental software implements AI-based forecasting models to:

Predicts when certain equipment will be in high demand.
The system recommends maintenance periods that do not disrupt rental operations.
Better asset allocation insights become possible when managing rentals across multiple locations.

Assets remain effective revenue generators because they are not just available but actively producing revenue.

4. Usage-Based Asset Reporting

Rental software produces reports that track each asset’s rental activities together with usage duration and performance metrics. These reports serve as essential tools for:

The analysis of asset performance reveals which equipment produces the highest return on investment.
Identifying underutilized or obsolete assets.
Planning asset purchases based on actual demand rather than assumptions.

Check out Inventory Management for Rental Businesses to discover how you can synchronize inventory levels with utilization data for efficient planning.

Key Features of Rental Software That Boost Asset Utilization Rate

Asset Rental Software provides specific features which help optimize asset utilization. The following rental software features optimize asset utilization rates in rental businesses:

1. Asset Productivity Monitoring

The software provides managers with immediate performance assessment through its dashboards which display essential rental metrics. For example:

Active vs idle time ratios.
The equipment which produces the highest revenue.
Assets that require urgent maintenance or replacement procedures.

2. Asset Allocation Insights

Rental software analyzes historical rental data together with demand forecasts to guide asset allocation toward revenue-maximizing locations.

3. Inventory and Asset Optimization

An advanced system integrates inventory and asset optimization, ensuring accessories, spare parts, or attachments are also available for high-demand assets, reducing booking cancellations.

4. Mobile-Friendly Access

Field teams access real-time asset use data through mobile devices which enables them to update asset status and enhance both speed and precision of asset management.

Asset Rental Management Software provides a comprehensive solution to handle your rental lifecycle while improving operations and utilization.

How to Maximize Asset Utilization Rate With Rental Software: Step-by-Step Guide

The Asset Utilization Rate needs an organized strategy to achieve its maximum potential. Rental software tools help track and analyze equipment usage yet success relies on a strategic approach. The following steps will help your assets generate their maximum return on investment:

Step 1: Implement Equipment Usage Tracking Software

Begin by deploying IoT-based or sensor-enabled equipment usage tracking software to track assets in real time. All rental equipment can be tagged with IoT sensors GPS or RFID Asset Tracking Software to enable precise tracking of every asset.

Why it’s important: The absence of real-time data makes it impossible to identify asset utilization levels which can be excessive or insufficient or completely inactive.
What to do: Integrate tracking software with your Asset Rental Management Software so all data flows into a centralized dashboard for easier reporting.
Result: Continuous tracking helps you reduce idle asset time and plan for timely maintenance, improving asset availability.

Step 2: Set Utilization Benchmarks

Each rental equipment category needs specific utilization benchmarks that should be established. High-demand construction equipment requires an Asset Utilization Rate of 80% or higher while seasonal equipment operates at lower targets.

Why it’s important: Without benchmarks, you can’t measure whether an asset is performing optimally.
What to do: Historical rental data from your software together with utilization metrics for rentals will help establish achievable targets.
Result: The establishment of benchmarks enables you to recognize subpar equipment performance thus enabling better decisions regarding equipment maintenance or relocation and replacement.

Step 3: Use Predictive Scheduling

Rental software contains predictive analytics and asset performance management tools which enable proactive maintenance scheduling.

Why it’s important: Unplanned breakdowns increase downtime and directly impact the Asset Utilization Rate.
What to do:
- Schedule preventive maintenance during off-peak hours.
- The system uses predictive tools to forecast when maintenance will be required based on observed usage patterns.
Result: The reduction of maintenance-related downtime combined with higher customer satisfaction leads to maximum rental returns.

Step 4: Analyze Utilization Metrics Regularly

Regularly monitor usage-based asset reporting to understand performance trends.

Why it’s important:Why it’s important: Early detection of poorly performing or idle assets enables organizations to take corrective actions before these assets turn into unnecessary expenses.
What to do:
- Generate weekly or monthly utilization reports.
- Compare actual performance with benchmarks.
- Analyzing asset downtime tracking patterns helps organizations resolve recurring problems.
Result: The analysis of asset usage information at the right time enables better scheduling decisions and obsolete equipment elimination.

Review Inventory Management for Rental Businesses to optimize your equipment selection during high-demand periods.

Inventory Management for Rental Businesses to ensure you always have the right equipment available when demand is high.

Step 5: Optimize Asset Allocation

The correct placement of equipment in appropriate locations at the right times results from smart asset allocation insights.

Why it’s important: The main reason for asset allocation problems arises from both idle assets in low-demand areas and insufficient supply in high-demand sites.
What to do:
- The rental software demand forecasting feature enables you to detect locations where bookings peak.
- Underutilized equipment should be moved to locations where bookings are higher.
Result: By distributing assets across various locations you achieve optimal rental profits and prevent lost business opportunities.

Step 6: Train Teams on Software Use

Advanced rental software remains ineffective when team members fail to utilize its features properly.

Why it’s important: Incorrect data entry or delayed updates result in inaccurate utilization reports and poor scheduling as well as missed maintenance tasks.
What to do:
- The software requires employees to receive periodic training about tracking asset use in real-time while updating asset statuses.
- Managers should receive training about understanding rental utilization metrics to make data-based choices.
Result: Skilled staff ensure accurate data collection, better decision-making, and improved asset productivity monitoring.

Bonus Tip: Integrate Customer Relationship Management (CRM)

The integration of Customer Relationship Management in Rentals with rental software systems helps improve asset utilization. Knowledge of customer booking habits and preferences allows you to forecast demand better while preventing surplus of low-demand assets and maintaining optimal equipment readiness.

Benefits of Maximizing Asset Utilization Rate With Rental Software

1. Maximize Rental Returns

The optimization of rental asset utilization leads businesses to achieve the highest possible revenue from their assets throughout their operational life.

2. Reduce Idle Asset Time

The tracking of asset downtime reveals inactive equipment so you can either redistribute or remove unproductive assets.

3. Improve Decision-Making

Accurate rental utilization metrics provide managers with data-driven tools to support their investment and scheduling choices.

4. Enhance Customer Satisfaction

A well-planned and properly maintained asset delivery schedule helps reduce delays which enhances customer trust.

5. Lower Operational Costs

The optimization of assets helps businesses cut down expenses related to maintenance as well as storage and transportation costs.

For information about rental businesses enhancing customer satisfaction through CRM systems read Customer Relationship Management in Rentals.

Future Trends in Asset Utilization Rate Optimization

The advancement of asset productivity monitoring and utilization optimization depends on sophisticated technological solutions:

1. AI-Driven Demand Forecasting

The implementation of artificial intelligence will forecast asset requirements by analyzing historical data along with seasonal patterns for enhanced scheduling practices.

2. Predictive Maintenance Integration

Asset performance management will become smarter through AI-driven predictive maintenance which minimizes equipment downtime.

3. Blockchain for Secure Usage Data

The implementation of blockchain technology enables secure tamper-proof usage-based asset reporting for multi-party rentals while providing transparency.

4. Augmented Reality (AR) for Maintenance

The implementation of AR-guided repair instructions by technicians will shorten maintenance periods while increasing equipment availability.

Best Practices to Sustain a High Asset Utilization Rate

A high Asset Utilization Rate demands permanent surveillance together with forward-thinking asset management. Here are quick best practices:

1. Monitor Real-Time Metrics

The tracking of real-time asset use becomes possible through IoT or RFID Asset Tracking Software. Set up alerts for equipment that remains idle or does not perform well to enable swift asset reassignment and minimize time spent on idle assets.

2. Adopt Preventive Maintenance

Asset performance management tools enable predictive analytics for proactive maintenance scheduling. The implementation of preventive maintenance practices extends equipment lifespan while minimizing breakdowns to enhance rental asset utilization.

3. Regularly Update Software

The continuous update of your equipment usage tracking software and Asset Rental Management Software will deliver AI-driven demand forecasting and usage-based asset reporting capabilities.

4. Evaluate Asset ROI Periodically

The assessment of rental revenue against operational expenses and maintenance costs is essential. The evaluation of rental utilization data helps organizations determine the fate of underperforming assets by deciding between maintenance or replacement or asset disposal.

5. Train Staff Continuously

Staff training performed on a regular basis enables staff to enter data correctly and schedule tasks properly as well as maximize asset allocation insights and asset productivity monitoring features.

6. Leverage Customer Insights

The integration of Customer Relationship Management in Rentals provides demand forecasting and scheduling improvements which ensure high-demand assets remain accessible.

Conclusion

Modern rental businesses must treat Asset Utilization Rate optimization as a strategic requirement because it directly affects their rental return performance. Rental businesses can achieve better asset productivity monitoring along with reduced idle asset time by using modern rental software to generate data-driven decisions through usage-based asset reporting.

The appropriate technology enables businesses to track equipment usage in real-time and monitor asset downtime to prevent maintenance delays and perform predictive scheduling to enhance asset scheduling which results in better inventory optimization and increased profitability.Your success depends on investing in advanced Asset Rental Management Software and RFID Asset Tracking Software to achieve better rental asset utilization and obtain meaningful asset allocation insights.

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Any access to or use of any Licensed Software (as defined below) by, for or on behalf of Client constitutes Client’s agreement to this agreement (the “Terms of Service”).

Section 1 – Introduction and the DreamzCMMS Platform

1.1 DreamzCMMS and its Business – DreamzCMMS is an information technology company that licenses and provides a solution known as the DreamzCMMS Solution (the “Solution”) that is designed to help clients maintain and manage equipment, vehicles, devices, and other assets and to comply with related best practices. This Solution includes Licensed Software, Know-How, Documentation, and Services.

1.2 Client. Client desires to use the Solution in its business operations.

1.3 Licensed Software. The term “Licensed Software” means the computer programs, tools, and content made available by DreamzCMMS to Client for Client’s access and use through the SaaS License of Section 2.1 below.

1.4 Services. The term “Services” means:

(a) the services of DreamzCMMS to Client in making the Licensed Software available to Client for Client’s remote access to and use of the Licensed Software as licensed and described in this Agreement, and

(b) the Data Storage Services of Section 3.2, and

(c) the support and maintenance services of Section 5. The term “Services” will also mean and include any additional services (e.g., consulting, implementation, planning, and training services) provided by DreamzCMMS to Client under any SOW (see Section 1.5). Those additional Services will be identified in an SOW – see also Section 3.3.

Any other services that are ancillary or related to any of the foregoing Services or the DreamzCMMS Solution and that are performed by DreamzCMMS for Client will also be considered “Services” under this Agreement unless a separate written agreement governing the other services is signed by both Parties.

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1.6 DreamzCMMS Know-How and Methodology. “Know-How” means any know-how, expertise, experiences, ideas, knowledge, advice, recommendations, methodologies, processes, practices, standards, plans, data and information provided or disclosed by DreamzCMMS to Client in connection with this Agreement or any SOW, Exhibit, Services, Licensed Software, or Documentation. The Know-How proprietary to DreamzCMMS (or its licensor(s)) is referred to herein as “Methodology” and will be licensed to Client as “Methodology” under the License of this Agreement.

1.7 Documentation. If and to the extent that any documentation, instructions or other works of authorship are delivered or made available by DreamzCMMS to Client for or in connection with this Solution, then such documentation, instructions and other works of authorship are referred to herein as “Documentation” (but this definition of “Documentation” does not include any Licensed Software).

1.8 Authorized Users. “Authorized Users” are employees of Client who are authorized by Client to access and use the Licensed Software. “Authorized Users” will also include Consultants, if any, who meet the requirements under Section 7.4 below. Authorized Users must respect this Agreement and must sign up or register with DreamzCMMS in accordance with its process and guidelines. Client will be responsible for any conduct or misconduct of an Authorized User relating to this Agreement or any of its subject matter.

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1.10 Subscription Fee. The “Subscription Fee” means the subscription or license fee payable by Client for the SaaS License. Client will pay to DreamzCMMS its then-current Subscription Fee on an annual basis. However, if Client purchases the SaaS License through an Authorized Reseller of DreamzCMMS, then Client will pay the Subscription Fee agreed to by Client and the Authorized Reseller.

Section 2 – License

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2.2 Methodology and Documentation. The SaaS License further includes a non-exclusive, non-transferable limited term license for Client to use the Methodology and Documentation, but only for Client’s internal use and not for the development, improvement or design of any other software, product, service or solution.

2.3 License Restrictions. Client must not use, and is not licensed to use, any Licensed Software, Documentation, Methodology or Services for any other purpose or in any manner or application that is in violation of any law, regulation, ordinance, or government authority, or in violation or breach of any obligation Client may have to a third party, or for any unethical purpose. Rights not expressly granted to Clients are reserved by DreamzCMMS.

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2.5 Client’s Computers. “Client’s Computers” means computers functioning as Internet clients or workstations that are in the possession and control of Client and used by Client’s Authorized Users to access and use Licensed Software via the Internet as described in this Agreement and any applicable Documentation.

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2.10 Documentation. Documentation may be copied and used internally by Client, but only to facilitate the licensed use of the Licensed Software and Methodology. Client will treat all Documentation as confidential information and copyrighted works of DreamzCMMS. Client will not disclose or transfer Documentation to any person other than to Client’s employees and Consultants (as defined in Section 7.4) on a confidential and “need-to-know” basis. Those employees and Consultants must be under confidentiality and restricted use obligations at least as protective of DreamzCMMS and the DreamzCMMS Solution as are the confidentiality and restricted use provisions of this Agreement.

Section 3 – Services

3.1 Services. DreamzCMMS will provide the Services described in this Agreement, including any applicable SOW.

3.2 Data Storage Services. As part of the Services, Client Data will be stored on DreamzCMMS Servers and available to Client in connection with its licensed use of the Licensed Software and in accordance with this Agreement (the “Data Storage Services”) – see Section 6.1.

3.3 Additional Services. If Client desires additional services or changes to the Services, the Parties may supplement or amend this Agreement or an existing SOW or add a new SOW, but any such supplement, amendment or additional SOW must be agreed to by both Parties in writing. The additional services and changes to Services described in such supplements, amendments or additional SOWs will be governed by this Agreement as “Services.” Additional or changed Services will require additional or increased fees and compensation as stated in the SOW to be paid by Client to DreamzCMMS for the additional or changed Services.

3.4 Cooperation. Client will promptly make available to DreamzCMMS such information, assistance and cooperation as DreamzCMMS may reasonably request in connection with the Services or the DreamzCMMS Solution.

Section 4 – Payments and Assumptions

4.1 Subscription Fee. Client will pay to DreamzCMMS its then-current Subscription Fee on an monthly / annual basis. However, if Client purchases the SaaS License through an Authorized Reseller, then Client will pay the Subscription Fee agreed to by Client and the Authorized Reseller. Client will pay the annual Subscription Fee for the first 12 months of the Term (as defined in Section 9.1). For each subsequent year during the Term, an annual Subscription Fee as quoted by DreamzCMMS or Authorized Reseller to Client will be paid by Client to DreamzCMMS or the Authorized Reseller (as applicable) at the beginning of each applicable year. The Subscription Fee is subject to reasonable increase upon at least 45 days advance written notice to Client. If the increase is not acceptable, then Client may terminate this Agreement under Section 9.1.

4.2 Additional Services. Fees and charges for additional Services or changed Services, if any, are not included in Section 4.1 and are due and payable by Client when invoiced by DreamzCMMS or as otherwise agreed in writing by the Parties in the applicable SOW.

4.3 Taxes. The fees and other amounts payable by Client do not include any taxes that may be assessed or imposed upon any Licensed Software, Services, this Agreement or any of the payments, transactions, or licenses of this Agreement, including, without limitation, any sales, use, excise, value added, personal property, export, import and withholding taxes, and excluding only U.S. federal and state taxes based upon DreamzCMMS or Authorized Reseller’s net income. Client shall directly pay any such taxes assessed against it, and Client shall promptly reimburse or pay DreamzCMMS or Authorized Reseller for any such taxes payable, paid, or collectable by DreamzCMMS or Authorized Reseller. If any taxes are withheld from any payments to DreamzCMMS or Authorized Reseller under this Agreement, Client must pay such taxes and ensure that DreamzCMMS or Authorized Reseller (as applicable) receives the full amount of all payments as stated in this Agreement after payment and satisfaction of such taxes.

Section 5 – Maintenance and Support of Licensed Software

5.1 Maintenance of Licensed Software. DreamzCMMS is responsible for maintaining the Licensed Software running on DreamzCMMS Servers. Maintenance of Licensed Software consists of implementing fixes, patches, and updates to the Licensed Software (“Fixes”) and work-around solutions for the Licensed Software running on DreamzCMMS Servers to address programming errors in the Licensed Software. All decisions concerning Fixes and work-around solutions or the correction of programming errors, and the timing and manner thereof, will be made by DreamzCMMS. DreamzCMMS will determine if, when and how programming errors should be corrected and Fixes and work-around solutions created and implemented.

5.2 Licensed Software Updates. “Licensed Software Updates” (or simply “Updates”) means future updates to and new versions and releases of the Licensed Software that are implemented on DreamzCMMS Servers for purposes of the SaaS License during the Term. Licensed Software Updates may include “Fixes” (as defined above) and “New Releases” (i.e., new versions and releases of the Licensed Software). Licensed Software Updates will also include any other modifications, enhancements and additions of or to the Licensed Software that DreamzCMMS makes available under the SaaS License to Client as part of the Licensed Software.

5.3 Telephone and Email Support. Client will be entitled to telephone and email support from DreamzCMMS telephone and email support personnel concerning problems and issues relating to Licensed Software and remote access to it as contemplated by this Agreement. Telephone and email support does not include training. Telephone and email support is subject to the reasonable availability of DreamzCMMS support personnel during DreamzCMMS’s standard support hours. Telephone and email support is subject to DreamzCMMS then current telephone and email support policies, limitations and procedures. Support entitles Client to a maximum of five hours of telephone and email support per month (EXCEPT THAT DURING THE FIRST MONTH OF THIS AGREEMENT, THERE WILL BE NO CAP ON A REASONABLE NUMBER OF THESE HOURS). Unused time in a given month will not be carried forward or credited to any subsequent month. Telephone and email support beyond this limit is governed by Sections 3.3 and 4.2 as additional Services and is not covered by the Subscription Fee.

5.4 Other Services. Other services, including, without limitation, consultation, implementation, custom content development, and training, are not included in the support and maintenance services and will require a new SOW and payment of additional fees plus expenses.

5.5 Exceptions and Procedures. DreamzCMMS obligations under this Section 5 do not apply to any problem attributable to Client’s Computers or to their connectivity to the Internet, or to Client’s failure to meet its responsibilities or requirements under this Agreement (including any SOW) or to follow any Documentation provided by DreamzCMMS.

5.6 Most Current Version of Licensed Software. DreamzCMMS is only obligated to maintain and support DreamzCMMS the most current version of Licensed Software implemented by DreamzCMMS on DreamzCMMS Servers for the SaaS License. DreamzCMMS will have no obligations under this Section 5 with respect to out-dated Licensed Software.

5.7 Subscription Fee. Payment of the Subscription Fee to DreamzCMMS covers maintenance and support under this Section 5, but not Section 5.4 or excess hours under Section 5.3.

5.8 Cooperation. Client will make available to DreamzCMMS such assistance and cooperation as DreamzCMMS reasonably requests in connection with maintenance and support under this Section 5.

Section 6 – Client Data and Confidentiality

6.1 Client Data. “Client Data” means the data of Client that are transmitted by Client or its Authorized User to DreamzCMMS’s Servers as part of the licensed use of Licensed Software. Transmitting of Client Data must be in accordance with DreamzCMMS’s then-current reasonable procedures, requirements and guidelines. Such Client Data will be kept confidential by DreamzCMMS (and its contractors, if any) and will not be transmitted to any unauthorized third party except as needed for this Agreement or in connection with an acquisition or merger of DreamzCMMS. Client warrants that Client Data and the transmitting and storage of such data will not infringe, misappropriate or violate the rights or intellectual property of any third party or any law or regulation. Client is responsible for the accuracy, integrity, completeness and content of Client Data.

6.2 Protection of Client’s Other Confidential Information. DreamzCMMS understands and acknowledges that it may have access to financial or business information of Client which Client maintains in confidence and which is not generally known to others in the profession or industry of either Party or to the general public and which is not known to DreamzCMMS prior to disclosure by Client to DreamzCMMS. DreamzCMMS agrees to hold all such confidential information of Client in confidence and not to disclose any portion of it to any third party other than DreamzCMMS contractors, subcontractors, successors and assigns on a “need to know” basis who are under similar obligations of confidentiality. This Section 6 is subject to Section 7.5 and does not apply to Feedback or any intellectual property in Feedback licensed to DreamzCMMS.

Section 7 – Intellectual Property

7.1 Ownership. The Licensed Software, Documentation, and Methodology and the copyrights, trade secrets, patent rights and other intellectual property in and to the Licensed Software, Documentation, Services, and Methodology are owned by DreamzCMMS (and/or DreamzCMMS’s licensor(s)), and nothing herein assigns or conveys any ownership or exclusivity thereof to Client (see also Section 7.5 below). The rights of Client to the Licensed Software, Documentation, and Methodology are limited to the licenses and rights expressly granted to Client under this Agreement.

7.2 Protections. Client will not allow any person other than its Authorized Users to access or use any Licensed Software. Client will not disclose or transfer any of the Documentation, or Methodology or information learned about or from the Licensed Software or its screen displays to any other person or entity other than Client’s Authorized Users. Client will ensure that its employees and Consultants, if any, comply with the obligations of this Agreement relating to the protection or confidentiality of Licensed Software, Documentation, or Methodology.

7.3 Exceptions to Confidentiality. Client has no obligation of confidentiality under this Agreement with respect to any information in the Licensed Software, Documentation, or Methodology, or any other information disclosed by DreamzCMMS, that is publicly known or known to Client prior to the first disclosure thereof to Client by DreamzCMMS or any of DreamzCMMS personnel, contractors or subcontractors. If any information in the Licensed Software, Documentation, or Methodology subsequently becomes publicly known through no fault of Client or any of its employees, consultants or contractors or is lawfully obtained by Client on a non-confidential basis from a third party who did not directly or indirectly receive the same from DreamzCMMS, then such information (but not other information) will at that time cease to be subject to any obligation of confidentiality or restricted use under this Agreement. However, this does not excuse any infringement of, or grant any rights or license to Client under, any copyrights, patent rights or other intellectual property of DreamzCMMS (or its licensor(s), if any).

7.4 Consultants. If any consultant or other contractor of Client needs to know or use any Licensed Software, Documentation, or Methodology in connection with services for Client, then such consultant or other contractor is referred to herein as a “Consultant” and Client may allow such Consultant to access and use Licensed Software, Documentation or Methodology, but only as necessary to perform the services for Client, provided that the Consultant is not a competitor of DreamzCMMS and first agrees in writing: (a) not to access or use the Licensed Software, Documentation or Methodology for any purpose other than services for Client, (b) to abide by confidentiality obligations as least as protective of DreamzCMMS and the Licensed Software, Documentation and Methodology as the confidentiality obligations in this Agreement, and (c) to abide by Section 7.5 of this Agreement.

7.5 Feedback. “Feedback” means any modifications, improvements, updates, suggestions, ideas, and enhancements of, for or to any Licensed Software, Documentation, Methodology or Services that are disclosed by Client or any of its Authorized Users or Consultants to DreamzCMMS. If and to the extent that Client or any of its Consultants (or any of its or their personnel) develops or creates any Feedback, or discloses or provides any Feedback to DreamzCMMS, then DreamzCMMS will have the right to use, disclose, distribute, copy, modify, and commercialize such Feedback and the intellectual property in and to the Feedback. Client and Consultants agree to license, and hereby license, to DreamzCMMS the Feedback and all copyrights, patent rights, trade secrets, and other intellectual property in and to such Feedback. This license is non-exclusive, irrevocable and worldwide and includes the right to grant sublicenses to others. Client and Consultants make no guarantee or warranty that any Feedback is free of error or defect or that it is suitable for use by DreamzCMMS or for any of the purposes or requirements of DreamzCMMS.

Section 8 – Security

8.1 Passwords, Access and User Accounts. User IDs (e.g., logins), passwords and access to the Licensed Software and Client Data residing on DreamzCMMS Servers will be administered and governed by DreamzCMMS’s then-current reasonable guidelines and procedures. Client is responsible for any and all activities that occur under its accounts(s) (including user accounts) and for the confidentiality of all User IDs and passwords of Authorized Users and for the confidentiality of any other security-related information disclosed to Client or any Authorized Users. Client must safeguard such User IDs, passwords, and security-related information. Client must notify DreamzCMMS of any known unauthorized use of Client’s user accounts and any other breach of security relevant to this Agreement or DreamzCMMS or the Solution. Each Authorized User will have a user account assigned to him or her. A user account may be assigned to and used by only one individual user – i.e., no sharing of user accounts.

8.2 Security. Client is responsible for maintaining adequate technical and procedural access controls and system security requirements and devices to ensure that there is no unauthorized or improper access to or use of Licensed Software or DreamzCMMS Servers or violation of data privacy or confidentiality from, by or through any equipment, computers, networks, communication links or devices, offices, facilities, employees, agents, representatives, contractors, volunteers, clients, customers, affiliates or Authorized Users of Client. DreamzCMMS is not responsible or liable for any unauthorized or improper access to or use of Licensed Software or any Client Data where such access or use originates outside of DreamzCMMS Servers or from, by or through any equipment, computers, networks, communication links or devices, offices, facilities, employees, agents, representatives, contractors, clients, customers, affiliates or Authorized Users of Client.

8.3 Personal Information. Client and its Authorized Users must not disclose to DreamzCMMS or transmit to or store on any DreamzCMMS Servers any personally identifiable information (PII), protected health information (PHI), payment card information (PCI) or any other personal information. Client and its Authorized Users must not violate any law, regulation or government order or the rights of any person. Client will indemnify DreamzCMMS and its officers, managers, employees, contractors and representatives against, and hold them harmless from, any such violation and any claims of such violation, and any judgments, settlements, damages, awards, expenses, costs, losses, and attorneys’ fees.

8.4 Client Data Only. Except for the transmission and storage of Client Data (as described in Sections 3.2 and 6.1), Client and its Authorized Users may not transmit, upload or store any data, computer programs, or other subject matter to or on DreamzCMMS Servers.

8.5 Suspension for Security Breach. In the event that DreamzCMMS believes that Client’s (including any of its Authorized Users’) access to or use of any Licensed Software, Services or DreamzCMMS Servers or any of Client’s Computers presents a security breach or risk to Client Data or to the data or property of any other client or to the DreamzCMMS Servers, then DreamzCMMS may suspend such access and use until the security breach or risk has been eliminated to the reasonable satisfaction of DreamzCMMS. Such suspension will not be a breach of this Agreement and DreamzCMMS will have no liability for such suspension. Client will fully cooperate with DreamzCMMS in connection with any such security breach or risk or any such suspension.

Section 9 – Term and Termination

9.1 Term. The “Term” of this Agreement will begin on the date of this Agreement for an initial term of one year. After the first year of the Term, the Term and this Agreement will continue on a year-to-year basis until one Party gives notice of termination or non-renewal to the other Party at least 30 days prior to the beginning of the next renewal year.

9.2 Termination for Breach. If Client breaches this Agreement or any SOW or Exhibit and fails to cure said breach within ten days after receiving written notice of said breach from DreamzCMMS, then DreamzCMMS will be excused from any further obligation or liability under this Agreement or any SOW or Exhibit and DreamzCMMS may terminate or suspend any license or right granted by DreamzCMMS under this Agreement or the SOW or the Exhibit, by giving notice to Client. This Section 9.2 will not limit the relief, remedies and damages to which DreamzCMMS may be entitled.

9.3 Effect of Termination. Upon termination of this Agreement under Section 9.2 or any other termination or expiration of this Agreement, the Services and Licenses will terminate and Client will have no further License or rights under this Agreement or with respect to any Licensed Software, Documentation, or Methodology and will cease all use of the Licensed Software, Documentation, and Methodology, and will confirm that it has done so in writing to DreamzCMMS. All obligations of confidentiality and other protections of the Licensed Software, Documentation, or Methodology or DreamzCMMS’s intellectual property under this Agreement will survive any termination or expiration of the Licenses or this Agreement and will continue in effect (but all access to and use of the Licensed Software, Documentation, and Methodology by or for Client or its Consultants must cease). In addition, Sections 7, 9.3 and 10 will survive any termination of this Agreement, but nothing in those surviving Sections will supersede or affect the first sentence or the last sentence of this Section 9.3. Upon termination of the Licenses or this Agreement, any Licensed Software and Documentation in the possession or control of Client or any of its Consultants will be destroyed or permanently erased by Client, and Client and its Consultants will not retain any copy thereof and will confirm compliance therewith in writing to DreamzCMMS.

Section 10 – General Provisions

10.1 Disclaimers. NEITHER PARTY MAKES ANY WARRANTY, REPRESENTATION OR PROMISE NOT EXPRESSLY SET FORTH IN THIS AGREEMENT. DreamzCMMS DISCLAIMS AND EXCLUDES ANY AND ALL IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, AND METHODOLOGY ARE PROVIDED AND LICENSED ON AN “AS IS” BASIS. DreamzCMMS DOES NOT WARRANT THAT ANY LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY OR SERVICES WILL SATISFY CLIENT’S REQUIREMENTS OR THAT THEY ARE WITHOUT DEFECT OR ERROR OR THAT THE USE THEREOF WILL BE UNINTERRUPTED OR ERROR FREE. THE LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY, AND SERVICES ARE NOT INTENDED, LICENSED OR PROVIDED FOR ANY HAZARDOUS USE OR ANY APPLICATION REQUIRING FDA OR OTHER GOVERNMENT APPROVAL THAT HAS NOT BEEN OBTAINED BY CLIENT. HAZARDOUS USE MEANS USE IN ANY APPLICATION OR ENVIRONMENT IN WHICH ANY FAILURE OR MALFUNCTION OF, OR ERROR OR DEFECT IN, THE LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY, OR SERVICES COULD RESULT IN ANY CATASTROPHE OR LOSS OF LIFE OF OR PHYSICAL INJURY TO A NATURAL PERSON.

10.2 Responsibility for Decisions. CLIENT IS SOLELY RESPONSIBLE FOR DECISIONS MADE AND ACTIONS TAKEN BASED ON THE LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY, OR SERVICES. IT IS CLIENT’S RESPONSIBILITY TO VERIFY ALL ANALYSES, RESULTS AND DATA CREATED, COMPILED OR GENERATED WITH THE USE OF THE LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY OR SERVICES. ALL USE OF AND RELIANCE ON THE LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY OR SERVICES AND ANY INFORMATION, DATA OR RESULTS OBTAINED FROM ANY OF THEM ARE AT THE SOLE RISK OF CLIENT AND SUCH USE AND RELIANCE MUST BE BY QUALIFIED PROFESSIONALS WHO EXERCISE THEIR OWN INDEPENDENT PROFESSIONAL JUDGMENT.

10.3 Limitation of Liability. UNDER NO CIRCUMSTANCES WILL DreamzCMMS’S AGGREGATE LIABILITY ARISING FROM OR RELATING TO THIS AGREEMENT, ANY SOW, OR ANY LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY OR SERVICES (REGARDLESS OF THE FORM OF ACTION OR CLAIM E.G. CONTRACT, WARRANTY, TORT, AND/OR OTHERWISE) EXCEED A LIMIT EQUAL TO ONE YEAR OF THE SUBSCRIPTION FEE RECEIVED BY DreamzCMMS FROM CLIENT UNDER THIS AGREEMENT. UNDER NO CIRCUMSTANCES WILL DreamzCMMS BE LIABLE OR RESPONSIBLE FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, INDIRECT, COVER, PUNITIVE OR EXEMPLARY DAMAGES, OR FOR ANY LOSS OF PROFITS, BUSINESS OR REVENUE, LOSS OF USE OF ANY COMPUTER PROGRAMS, LOSS OF DATA, COSTS OF RE-CREATING LOST DATA, THE COST OF ANY SUBSTITUTE EQUIPMENT, DATA, SERVICES OR SOFTWARE, OR CLAIMS BY ANY PERSON OTHER THAN CLIENT, EVEN IF DreamzCMMS HAS BEEN ADVISED OF THE POSSIBILITY OF ANY OF THE FOREGOING. IN NO EVENT WILL ANY OF DreamzCMMS OFFICERS, PERSONNEL, OWNERS, LICENSORS, CONTRACTORS, SUBCONTRACTORS, OR ADVISORS HAVE ANY LIABILITY RELATING TO OR ARISING FROM THIS AGREEMENT OR ANY OF THE ANY LICENSED SOFTWARE, DOCUMENTATION, KNOW-HOW, METHODOLOGY OR SERVICES. This Agreement, including its disclaimers and limitations of liability, represents a mutually agreed upon allocation of risk and the consideration given has been set to reflect such allocation.

10.4 Injunctive Relief. The Parties acknowledge and agree that any breach by a Party (the “offending Party”) of any of the covenants or provisions contained in this Agreement will give rise to irreparable injury to the other Party (the “offended Party”) inadequately compensable in damages and monetary remedies alone. Accordingly, the offended Party may seek and obtain preliminary and permanent injunctive relief against the breach or threatened breach of said covenants or provisions. Such relief will be in addition to any other remedies that may be available to the offended Party.

10.5 Notices. Any notice or consent from DreamzCMMS to Client may be sent or delivered by email, by first class, priority or express mail, by registered or certified mail, by commercial courier (e.g., Federal Express or U.P.S.), or by personal delivery. Client will keep DreamzCMMS informed of Client’s then-current email and physical addresses.

10.6 Export Act. Client hereby warrants and certifies that any Licensed Software, Documentation, Know-How and Methodology provided by DreamzCMMS to Client will not be made available or exported by Client or its personnel to any country in contravention of any law or regulation of the United States or any of its agencies, including the Export Administration Act of 1979 and regulations relating thereto.

10.7 Construction. This Agreement (which includes its SOWs and Exhibits) represents the wording selected by the Parties to define their agreement and no rule of strict construction will apply against or in favor of either Party. Whenever the context reasonably permits, the singular will include the plural, the plural will include the singular, and the whole will include any part thereof.

10.8 Headings. Section and paragraph headings used herein are for convenience only and will not be used to broaden or limit this Agreement.

10.9 Assignment. Because this Agreement is personal to Client, Client will have neither the right nor the power to assign or transfer this Agreement by assignment, merger or otherwise to any third party without the written consent of DreamzCMMS. DreamzCMMS may assign or transfer this Agreement and its rights under this Agreement (and delegate any remaining obligations and duties under this Agreement) to an affiliate or to a third party who acquires substantially all of the business or intellectual property of DreamzCMMS applicable to the Licensed Software. Any assignee or transferee of this Agreement must assume the duties and obligations of the assigning or transferring Party under this Agreement.

10.10 Successors. This Agreement will be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns.

10.11 Force Majeure. Notwithstanding anything to the contrary, neither Party will be deemed in breach of this Agreement or otherwise liable for any delay or failure to perform an obligation or duty where such delay or failure is caused by any act of nature, fire, flood, accident, riot, war, crime, terrorism, government intervention or regulation, any obligation to comply with any law, regulation or ordinance, any disruption or interference in communications, equipment or software, the Internet, any disruption or delay in supplies, communications, power, or other utilities, any labor dispute or shortage, or circumstances beyond the control of that Party or for the misconduct of an unaffiliated person. It is also understood that downtime of DreamzCMMS Servers and Licensed Software for maintenance, re-location, Upgrades, and other purposes will be necessary from time-to-time and that unintended interruptions and downtime may also occur and are not a breach of this Agreement.

10.12 Governing Law. This Agreement and the rights and obligations of the Parties hereunder will be governed by and interpreted, construed and enforced in accordance with the laws of the State of Utah, without regard to conflict of law principles. The Parties consent to the jurisdiction of the state and federal courts located in Salt Lake City or County, Utah and agree that such courts and their respective courts of appeal will be the exclusive venue for the resolution of any dispute relating to this Agreement or any of the Licensed Software, Services, Know-How or Methodology. Each Party waives any objection which it may have now or hereafter to the laying of venue in such courts, and irrevocably submits to the exclusive jurisdiction and venue of such courts

10.13 DreamzCMMS Personnel. The personnel of DreamzCMMS used to perform Services and obligations under this Agreement may be employees or subcontractors of DreamzCMMS. DreamzCMMS remains responsible for the performance of its obligations under this Agreement (including the SOW(s)).

10.14 Relationship. Neither Party is the partner, joint venturer, agent or representative of the other Party. Each Party is an independent contractor. There is no employment relationship between the Parties. Neither Party has the authority to make any representations or warranties or incur any obligations or liabilities on behalf of the other Party. Neither Party will make any representation to a third party inconsistent with this Section.

10.15 Waiver. Any waiver of, or promise not to enforce, any right under this Agreement will not be enforceable unless evidenced by a writing signed by the Party making said waiver or promise.

10.16 U.S Government Agency. If Client is a U.S. Government agency, Client acknowledges that the Licensed Software licensed under this Agreement is a commercial item that has been developed at private expense and not under a Government contract or at Government expense. The Government’s rights relating to the Licensed Software are limited to those rights and provisions applicable to Client as set forth in this Agreement and are binding on Government users in accordance with Federal Acquisition Regulation 48 C.F.R. Section 12.212 for non-defense agencies and/or Defense FAR Supplement 48 C.F.R. Section 227.7202-1 for defense agencies, as applicable. U.S. Government rights to use, modify, reproduce, release, perform, display or disclose Licensed Software are subject to the limited rights restrictions of DFARS 252.227-7015(b)(2) and/or restrictions of DFARS 227.7202-1(a) and DFARS 227.7202-3(a), as applicable for U.S. Department of Defense (“DOD”) procurements and the limited rights of restrictions of FAR 52.227-14 and/or restricted rights provisions of FAR 52.227-14 and FAR 52.227-19, as applicable, and applicable agency FAR Supplements, for non-DOD Federal procurements.

10.17 Entire Agreement. This Agreement (which includes its SOWs and Exhibits): (i) represents the entire agreement between the Parties concerning the subject matter of this Agreement, (ii) supersedes all prior agreements, understandings, representations and warranties relating to the subject matter of this Agreement, whether written or oral, and (iii) may only be amended, canceled or rescinded by a writing signed by duly authorized representatives of both Parties. Any terms or conditions of any purchase order or other document submitted by Client in connection with this Agreement or any Services that are in addition to, different from or inconsistent with the terms and conditions of this Agreement are for administrative purposes only and are not binding on DreamzCMMS and are of no effect.

How to Contact Us

If you have any questions, comments, complaints or suggestions in relation to your data protection, software protection, technology protection, this Statement, or any other concerns about the way in which we process information about you, please contact us:

Head Office

AQ7, 6th Floor, Ambient Building, Salt Lake City, Kolkata, India

Email: marketing@dreamzcmms.com

Tel: +91 033-4004-0627

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Asset Maintenance Management Software

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Conclusion

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