Cost Cap Program Details
April 1, 2023
Please use this letter as your official notification of the following changes in servicing the equipment fleet at CLIENT. After careful scrutiny of the CLIENT equipment fleet, please put the below described process in place when servicing the equipment at CLIENT.
Effective immediately, all repairs on any equipment, batteries or charges billable to CLIENT will now have a repair cost cap put in place. The cap will be set at $3,000.00 per repair. All repairs exceeding this cap must be quoted and approved prior to the commencement of that repair. If for any reason a repair is completed that exceeds the cost cap amount, prior to a quote being submitted and approval by CLIENT, CLIENT may choose to only pay the amount of the cost cap. This is effective on repairs that are correct and that were signed off by that locations management and fall outside any contracts or warranties.
Please note that once a repair over the cap is approved and the repair is started, that repair must be completed at that price. If more labor or parts are needed, those parts and labor must be done at the original quoted price.
Once the quote is created, please make sure the CLIENT signs that quote. Then direct that signed quote that exceeds the cost cap to LTM Services via email. LTM’s email address is firstname.lastname@example.org. LTM Services will review the quote and forward the reviewed quote to the customer for their final approval.
Please also note that a copy of the signed quote MUST accompany the final invoice and work order and be submitted for processing and approval in the order that the invoices are to be processed for payment.
If you have any questions or concerns, please feel free in contacting us.