Equipment Rental
The Equipment Rental Smart Contract automates rental charges based on actual days equipment is being rented out.
Product Description
The Equipment Rental Smart Contract leverages daily rental rate logic to automate rental charges based on actual days equipment is being rented out. The rental charges are automatically calculated based on the equipment geolocation (time on location) to ensure reliability and accuracy of charges. The smart contract also verifies equipment movements and assigns charges to multiple assets or cost centers.
Features & Benefits
- Integrates to any vendor SCADA / IOT system via API
- Compatible with common GPS for location tracking and verification
- Track vessel trips to different assets
- Reduces 95% manual processing time for tickets and invoices on both sides
- Configurable to run nightly to provide finality every 24 hours
- Outputs can be pushed to ERP and other enterprise systems via API