Credit FAQs
VER Credit Department Frequently Asked Questions
Which account application should I use?Who will process my application and how do I contact them or submit the application?
What if I am an individual and not a company?
How long will it take to process my application?
What if I would like to provide a credit card over the phone and not set up an account?
What is a security deposit?
How can I pay for my rental?
What if I want net 30 terms?
If I provide trade & bank references will I automatically be granted net 30 terms?
If I just want to pay C.O.D. why do I need to provide trade references with my COI?
What if I do not have trade references?
How soon after I submit an application can I call to book my first rental?
What type of insurance do I need to provide?
Do I need to submit my insurance with the application or can I provide it later?
What if I do not have insurance? Can I purchase that from VER, or does VER provide waivers to its customers?
What if my company is self-insured?
What is a resale certificate?
Why do I need to sign a Rental Agreement?
What is a TIN?
What does DBA mean?
What if I am taking the equipment outside of the US?
What about non-US customers?
Do I need to call my local office if I am doing business in another state?
Which account application should I use?
If you are renting equipment valued at under $10,000 replacement cost and need a quick turnaround time for your rental, VER recommends using a security deposit. If you are renting expensive equipment or rent frequently, use one of our Certificate of Insurance (COI) account options.
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Who will process my application and how do I contact them or submit the application?
Video Equipment Rentals' Credit Department is located at company headquarters in Glendale, California. You may contact them by phone at 818-956-1444 or by fax at 818-956-1178.
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What if I am an individual and not a company?
The same basic rental policies apply to individuals and companies. If some elements of the application do not apply to your situation, simply complete what you can and submit the form. Someone from the credit department will contact you if additional information is required.
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How long will it take to process my application?
Security deposit accounts generally take less than a day to set up; however, VER recommends submitting applications early so that your equipment can be reserved. Advanced planning ensures that the equipment you need will be reserved. Equipment cannot be reserved until your account has been approved and a customer number assigned.
Accounts with insurance take two to five business days to complete. The process will go more quickly when trade references respond promptly and your insurance documentation is submitted accurately. If you are concerned about your rental deadline, please contact the VER Credit Department.
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What if I would like to provide a credit card over the phone and not set up an account?
Every VER customer must have an account. We cannot accept credit card information over the phone.
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What is a security deposit?
A security deposit can be cash, but most commonly is a 'hold' of available credit from your credit card account. A security deposit is not really charged to your card, but is an "authorization" or "hold" of available funds.
For example, if you are renting something with a $2,000 replacement value, VER will place a hold for that amount on your credit card during the rental period. You will not have access to those funds during that time. Once the rental equipment returns and we have verified that there is no damage, the hold will be released.
VER does not recommend using a debit card for a security deposit because funds are removed from your bank account, and banks often take several days to process a refund.
We cannot accept checks or money orders for a security deposit.
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How can I pay for my rental?
There are two terms of payment available: C.O.D. (payment up front) & Net 30 terms (invoice sent to you after the equipment returns). You may use cash, check, money order, a credit card or a wire transfer upon approval. VER accepts Visa, MasterCard and American Express.
Please note that our offices in Europe may extend other payment options. Please contact the Credit Department for details.
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What if I want Net 30 terms?
Please complete the application with insurance, providing VER with both bank and trade references. Banks will not provide references without a complete account number and the signature of someone authorized to sign checks on that account.
Trade references come from companies you do business with and pay regularly; they need not be from the audio visual or broadcast industries. We have found that large public entities – including most shipping and credit card companies – will not release account information; you will need to provide references from suppliers or vendors who will respond promptly.
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If I provide trade & bank references will I automatically be granted Net 30 terms?
Net 30 terms are not guaranteed. Furthermore, since Net 30 accounts are not always set up in time for a first rental, you must be prepared to pay C.O.D. for your first rental.
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If I just want to pay C.O.D. why do I need to provide trade references with my COI?
VER’s insurance company requires that we check references on any new customer renting with insurance instead of a security deposit.
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What if I do not have trade references?
Please call the credit department to discuss your situation.
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How soon after I submit an application can I call to book my first rental?
The credit department must process your paperwork and create your account in our rental database, which may take anywhere from several hours to several days. Start a dialog with your rental agent as soon as possible, so he or she can notify you when your account has been approved. You will also receive a welcome letter from the Credit Department when your account paperwork is being processed.
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What type of insurance do I need to provide?
Video Equipment Rentals requires both property and liability coverage. VER must be named as a certificate holder, which means you cannot provide merely evidence of insurance. VER requires General Liability, Auto Liability and Worker's Compensation Liability. VER must be listed as Loss Payee regarding property coverage and as Additional Insured regarding liability coverage on your Certificate of Insurance (COI). Insurance coverage must specify "for rented/leased equipment."
Certificate Holder Box:
Video Equipment Rentals
912 Ruberta Avenue
Glendale, CA 91201
Fax to 818-956-1178
At a minimum, your insurance must cover the entire rental period, from pickup/delivery date through date of return. You are welcome to provide blanket insurance coverage so that a new COI is not required on a per-rental basis.
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Do I need to submit my insurance with the application or can I provide it later?
You may submit the application without insurance information in order to allow us to begin checking references and processing your paperwork. Insurance must be verified and in place before a rental, so be sure to fax it promptly. Do not hand carry the insurance certificate to a VER location on the day of a rental.
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What if I do not have insurance? Can I purchase that from VER, or does VER provide waivers to its customers?
Video Equipment Rentals cannot provide insurance coverage or waivers or cover customers under our insurance. If you have questions about how to purchase insurance, please contact the credit department.
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What if my company is self-insured?
Contact the credit department for specific requirements.
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What is a resale certificate?
Certain companies may be exempt from paying taxes on the rental or purchase of equipment. This exemption is documented with a resale or tax exemption certificate. If you are tax exempt in this way, please complete the Resale Certificate form found in your account application, and/or provide us with a copy of your certificate. In the states of Florida, Texas, Louisiana, and Washington, a copy of the resale certificate is required due to expiration dates or different exemptions for rentals and sales.
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Why do I need to sign a Rental Agreement?
The Rental Agreement is a blanket agreement between you and Video Equipment Rentals covering all your rentals from VER. No account will be completed without a signed Rental Agreement. If you have questions or concerns about the Rental Agreement, please call the credit department.
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What is a TIN?
This is your Federal Tax ID Number.
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What does DBA mean?
This stands for “Doing Business As,” also known as a Fictitious Business Name. This is used when a business operates a company under a name different from the company's real name.
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What if I am taking the equipment outside of the US?
You must inform us if you are taking equipment outside the United States. Your insurance must also include worldwide coverage.
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What about non-US customers?
Contact the credit department for requirements in your region.
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Do I need to call my local office if I am doing business in another state?
Any VER office can assist you with rentals for any location.