Equipment Bank is a concept whereby which optimum utilization of Construction equipments is achieved such that there is no capital wastage and cost of construction comes down by almost 30% as invariably construction equipment/machinery plays almost 25% of all infra of the country, equipment bank is a parking yard where any ideal assets are park and maintained.
It is invariably seen that any major construction equipment company are 1/3rd of their equipment use, further if the machine is taken on rent then there is saving on the cost of the project, also small players can quote for big projects based on equipment hired by equipment bank, and equipment bank is a wonderful concept just like any other bank it can give money for ideal equipments.
Equipment Bank is a concept where a contractor can ensure there is ‘No Capital Wastage’ as it does away with idle asset. A member parks his idle asset in the equipment bank and earns money when the equipment is idle by rehiring. The concept is same as that of any customer earning interest when he deposits his idle money in the bank.