Commitments And Contingencies

12 Months Ended

Dec. 31, 2019

Commitments And Contingencies [Abstract]

Commitments And Contingencies

(14)  Commitments and Contingencies

As of December 31, 2019 and 2018, the Company had one outstanding letter of credit of $0.1 million. The letter of credit guarantees the Company’s obligations under certain operating lease agreements.

In addition to the rental equipment payable of $25.1 million, the Company had commitments to purchase approximately $6.0 million of containers as of December 31, 2019, all in the twelve months ended December 31, 2020.

In the ordinary course of business, the Company executes contracts involving indemnifications standard in the industry and indemnifications specific to a transaction such as an assignment and assumption agreement. These indemnifications might include claims related to tax matters, governmental regulations, and contractual relationships. Performance under these indemnities would generally be triggered by a breach of terms of a contract or by a third-party claim. The Company regularly evaluates the probability of having to incur costs associated with these indemnifications and as of December 31, 2019 there were no claims outstanding under such indemnifications and the Company believes that no claims are probable of occurring in the future.