Summary of Fees
To view the updated inventory list and pricing, click here.
Tool Handling Fees: Member Agencies pay a tool handling fee of 4% of the retail value of each tool borrowed per week. Tools may be borrowed from one to sixteen weeks and longer on special arrangement. For orders longer than eight weeks, a check-in appointment must be made no later than the eight-week mark and payment processed at every eight week interval.
Late Fees: Overdue tools accrue late fees at 8% of the retail value of each tool every week until the tools are returned, replaced or replacement costs are paid in full (see below). Note that late fees are meant to be prohibitive; they are not a luxury tax Member Agencies can choose to pay. If two orders are late consecutively, or if two of three total orders run late at any time, the tardy Member Agency will be flagged. Flagged agencies must speak with senior leadership at the ToolBank to be reinstated after correcting behavior.
Replacement Costs: Member Agencies are assessed a replacement cost in the event that a tool is declared lost, parts are missing, or the tool is no longer usable due to misuse or abuse. We do not charge replacement fees for tools broken during their intended use, so long as the broken tool is returned. The replacement cost is the value of a new item of the same type.
When is payment due? All payment is due no later than the day the tools are returned to the ToolBank. In this way, we are like a restaurant: You can pay when you are finished, but not before you leave. For first-time orders, at least 50% is due upon pick-up of tools and prior to loading of any tools.
Cancelation fees: Any order canceled with more than 48 hours notice prior to the pick-up time does not incur fees. Any order canceled within 48 hours but more than 24 hours in advance of the pickup appointment will incur a fee of 50% of the original tool handling fee per item. Any order canceled with less than 24 hours notice will incur all original tool handling fees. Any order that is not picked up at the designated time will incur the full tool handling fees, whether or not is ever picked up. This policy holds no matter what the reason for cancelation, including weather. This is due to the fact that ToolBank staff has already put time and labor into pulling the tool order and reserving tools from all other partners. Note that time is measured from the Member Agency’s pick-up appointment, not the event itself.
Example Scenarios:
A Member Agency has an order appointment on Friday at 1pm with original fees totaling $25.
If the Member Agency cancels before Wednesday at 1pm, no fees are incurred.
If the Member Agency cancels between 1pm Wednesday and 1pm Thursday, they incur $12.50 in fees (50% of original fees).
If the Member Agency cancels any time from 1pm on Thursday or later, they incur the full $25. This amount must be paid prior to any future order.
Change fees: Any order modifications with more than 48 hours notice prior to the pick-up time does not incur change fees. Any order modification that subtracts items within 48 hours but more than 24 hours in advance of the pickup appointment will incur a fee of 50% of the original tool handling fee. Any order modification that subtracts items with less than 24 hours notice will incur all original tool handling fees. This policy holds no matter what the reason for cancelation, including weather. This is due to the fact that ToolBank staff has already put time and labor into pulling the tool order and reserving tools from all other partners. Note that time is measured from the Member Agency’s pick-up appointment, not the event itself.
Example Scenarios:
A Member Agency has an order appointment on Friday at 1pm with original fees totaling $100.
If the Member Agency modifies the order before Wednesday at 1pm, no fees are incurred.
If the Member Agency modifies the order down by $30 between 1pm Wednesday and 1pm Thursday, they incur $15 in change fees (50% of original fees). The items that are not modified will keep all original fees.
If the Member Agency modifies the order down by $30 any time from 1pm on Thursday or later, they incur the full $30 of original fees. This amount must be paid prior to any future order.
