Cost Cap Program Details

April 1, 2023

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Dear; SERVICE PROVIDER

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Please consider this letter your official notification regarding important changes to the servicing process for CLIENT equipment fleet.

After a thorough review of CLIENT’s equipment, the following procedures are to be implemented immediately: This only applies to certain clients, and you should not assume this applies to all LTM's clients.

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Repair Cost Cap Policy 

• Effective immediately, all billable repairs—including equipment, batteries, and chargers—will be subject to a repair cost cap of $3,000.00 per repair.

• Repairs exceeding this cap must be quoted and approved prior to commencement.

• If a repair is completed without prior approval and exceeds the cost cap, CLIENT reserves the right to pay only up to the capped amount—even if the repair is valid and signed off by local management and not covered under any contract or warranty.

 

Quote Approval Process

• Once a quote exceeding the cost cap is created, it must be signed by CLIENT.

• The signed quote should then be submitted to LTM Services at:
  📧 costcap@ltmservices.net

• If approved, LTM Services will issue an Approval Number (AP#).

• Please ensure this AP# is clearly displayed on the invoice—preferably in the PO field.

 

Invoice Submission Requirements

• A copy of the signed quote must accompany the final invoice and work order.

• These documents must be submitted in the correct order for processing and payment.

 

Important Notes

• Once a quote is approved and the repair begins, the repair must be completed at the quoted price.

• Any additional labor or parts required must be included within the original approved quote—no adjustments will be accepted post-approval.

 

If you have any questions or need clarification, please don’t hesitate to contact us.

 

Thank you for your cooperation and continued partnership.

 

Sincerely,