THIS EQUIPMENT RENTAL AGREEMENT including TERMS AND CONDITIONS (this “Agreement”)
BETWEEN
So Inc Ltd t/a So Pure Air
No 1 Cardale Park
Beckwith Head Road
Harrogate
HG3 1RY
(the Owner)
AND
The Person accepting the attached terms and conditions
For and on behalf of their company
(the Hirer)
For the Rental ‘Hire’ of So Pure Air: Air Purifiers
IN CONSIDERATION OF the mutual covenants and promises in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Owner rents the equipment to the Hirer, and the Hirer rents the equipment from the Owner on the following terms:
Definitions
1. The following definitions are used but not otherwise defined in this Agreement:
a. ‘Casualty Value’ means the purchase market value of the Equipment in relation to a Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment dependent on the period of hire and at owner discretion.
b. ‘Equipment’ means Dual Technology Medical Grade Mobile Air Sterilizer. The KT II (2) has a purchase value of £5400.00 + Vat per unit. The KT III (3) has a purchase value of £4320.00+Vat per unit.
c. ‘Total Loss’ means any loss or damage that is not repairable or that would cost more to repair than the market value of the equipment.
d. ‘Residual Value’ means the value of the machine after 24 months renal term for the purposes of purchase. Should the Hirer wish to exercise the 24 months right to purchase.
Rent
2. The Owner agrees to rent the Equipment to the Hirer, and the Hirer agrees to rent the Equipment from the Owner in accordance with the terms set out in this Agreement.
Security Deposit
3. Taken in the form of 3 monthly rental payments in advance by ‘stripe’ payment gateway. To be returned at the end of the full term on request and subject to and provided that at the end of the term it is not subject to any remedies in section 24.
Term
4. The Agreement commences once security deposit and first month rental is paid (The Initial Term will be 6 months) and will continue on a rolling basis (The Full ‘Term’). Cancellation of the term needs to be in writing to sales@sopureair.co.uk giving 28 days’ notice, no sooner than the initial term of 6 months and subject to and provided that at the end of the term it is not subject to any remedies in section 24.
Rent
5. The rent, plus Vat, will be paid in instalments of £187.33 + Vat per KT II machine and £155.38 + Vat per KT III machine, each month, following the initial 3 months in advance security deposit per machine, plus the first month in advance (3 + 1) respectively. Beginning 28 days from start of contract and every 28 days thereafter throughout the Term (the “Rent”) by recurring payment from the hirers card details. The ‘Hirer’ hereby confirms that they have sufficient funds in accordance with ‘The Owners’ request for the payment to be taken every 28 days from the start of hire for 6 payments and then on a rolling month by month basis.
Residual Value
6. The residual value (The “Residual Value”) of each ‘KT II’ machine is £250.00 + vat after 24 months hire
The residual value (The “Residual Value”) of each ‘KTIII’ machine is £200.00 + vat after 24 months hire.
Purchasing the Equipment
7. The Hirer has the option to purchase the Equipment at the end of 24 months by paying the following amounts, or the remaining portions of these amounts, to the Hirer.
a. The Residual Value of the Equipment; and
b. any fees, taxes, and expenses related to the purchase of the Equipment.
8. After the hirer has paid all of the costs and fees associated with purchasing the Equipment, the owner will return the following amounts, or the remaining portions of these amounts, to the Hirer:
a. Any money received from an insurance claim or action that is not used to repair or replace the Equipment.
b. Any money due from the refundable security deposit.
Use of Equipment
10. The Hirer will use the Equipment in a good and careful manner and will comply with all of the manufacturer’s requirements and recommendations respecting the Equipment and with any applicable English law, respecting the use of the Equipment, including but not limited to, environmental and copyright law.
11. The Hirer will use the Equipment for the purpose for which it was designed and not for any other purpose.
12. Unless the Hirer obtains the prior written consent of the owner, the Hirer will not alter, modify or attach anything to the equipment unless the alteration, modification or attachment is easily removable without damaging the functional capabilities or economic value of the equipment.
Warranties
13. The Equipment will be in good working order and good condition upon delivery.
14. The Equipment is of merchantable quality and is fit for the purposes it is ordinarily used.
Loss Damage
15. To the extent permitted by law, the Hirer will be responsible for risk of loss, theft, damage or destruction to the Equipment from any and every cause.
16. If the Equipment is lost or damaged, the hirer will continue paying Rent, the Hirer will also provide the Owner with prompt written notice of such loss or damage and will, if the Equipment is repairable, put or cause the Equipment to be put in a state of good repair, appearance and condition.
17. In the event of total loss of the equipment, the Hirer will provide the Owner with prompt written notice of such loss and will pay to the Owner all unpaid Rent for the Term plus the Casualty Value of the Equipment, at which point ownership of the Equipment passes to the Hirer.
Ownership Right to Rent and Quiet Enjoyment
18. The Equipment is the property of the Owner and will remain the property of the Owner.
19. The Hirer will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.
20. The Owner warrants that as long as no Event of Default has occurred, the Owner will not disturb the Hirers quiet and peaceful possession of the equipment or the Hirers unrestricted use of the Equipment for the purpose of which the Equipment was designed.
With the exception of service visits to replace filters of bulbs, normally every 12 months.
Surrender
21. At the end of the term or upon earlier termination of the Agreement, the Hirer will allow access to the Equipment to allow the Owner to collect the Equipment If the Hirer fails to return the Equipment to the Owner at the end of the Term or any earlier termination of this Agreement, the Hirer will pay to the Owner any unpaid Rent for the Term plus the Casualty Value of the Equipment plus 10% of the Casualty Value, at which point the ownership of the Equipment will pass to the Hirer.
Indemnity
22. The Hirer will indemnify and hold harmless the Owner against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including legal fees and costs, arising out of or related to the Hirers use of the Equipment.
Default
23. The occurrence of any one or more of the following events will constitute an event of default (“Event of Default”) under this Agreement:
a. The Hirer fails to pay an amount provided for in this Agreement within 14 days after same is due or otherwise breaches the Hirers obligations under this Agreement.
b. The Hirer becomes insolvent or makes an assignment of rights or property for the benefit of creditors or files for or has bankruptcy proceedings instituted against it under the bankruptcy law of the United Kingdom or another competent jurisdiction.
c. A writ of attachment or execution is levied on the Equipment and is not released or satisfied within 10 days.
Remedies
24. On the occurrence of an Event of Default, the Owner will be entitled to pursue any one of the following remedies (“Remedies”):
a. Declare the entire amount of Rent for the Term immediately due and payable without notice or demand to the Hirer.
b. Apply the bond, security deposit toward any amount owing to the Owner.
c. Commence legal proceedings to recover the rent and other obligations accrued before and after the Event of Default.
d. Take possession of the Equipment, without demand or notice, wherever the same may be located, without any court order or other process of law. The Hirer waives any and all damage occasioned by such taking of possession.
e. Terminate the Agreement immediately upon written notice to the Hirer.
f. Pursue any other remedy available in law.
25. The Hirer is entitled to the protection and remedies available to them under the Consumer Credit Act 1974.
Assignment
26. THE HIRER WILL NOT ASSIGN THIS AGREEMENT, THE HIRERS INTEREST IN THIS AGREEMENT OR THE HIRERS INTEREST IN THE EQUIPMENT WITHOUT THE PRIOR WRITTEN CONSENT OF THE OWNER.
27. If the Hirer assigns the Agreement, the Hirers interest or the Hirers interest in the ‘Agreement’ without prior written consent of the Owner, the Owner will have recourse to the Remedies in section 24 and will be entitled to all damages caused by the assignment.
Entire Agreement
28. This Agreement which constitutes the entire Agreement between parties. Any prior understanding or representation of any kind preceding the date of this Agreement will not be binding on either party except to the extent incorporated in this Agreement.
Address for Notice
29. Service of all notice under this agreement will be delivered personally or sent by registered mail or courier to the address of the Hirer and or location of the hired goods:
Payment
30. All pound amount in this Agreement refers to pound’s sterling, and all payments required to be paid under this Agreement will be paid in pounds sterling unless the Partied agree otherwise.
Interest
31. Interest payable on any overdue amounts under this Agreement will be at a rate of 7.00 per cent per annum or the maximum rate allowed under applicable legislation, whichever is lower.
Interpretation
32. Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.
Governing Law
33. This agreement will be construed in accordance with and governed by the laws of England and the Parties submit to the exclusive jurisdiction of the English courts.
Severability
34. If there is a conflict between and provision of this Agreement and the applicable legislation of England (“The Act”) the Act will prevail and such provisions of the Agreement will be amended or deleted as necessary in order to comply with the Act. Further, any provisions that are required by the Act are incorporated into this Agreement.
35. In the event that any of the provisions in this Agreement are deemed to be invalid or unforeseeable in whole or in part, those provisions to the extent enforceable and all other provisions will nethertheless continue to be valid and enforceable as though the invalid and unforeseeable parts had not been included in this Agreement and the remaining provisions had been executed by both Parties subsequent to the expungement of the invalid provision.
General Terms
36. This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures. Tick box acceptance of these terms and conditions ‘The Agreement’ is binding and considered to be original signatures.
37. Time is of the essence in this Agreement.
38. This Agreement will extend to and be binding upon and inure to the benefit of respective heirs, executors, administrators, successors and assigns, as the case may be, of each Party to this Agreement.
39. Neither Party will be liable in damages or have the right to terminate this Agreement for any delay or default in performance if such a default is caused by conditions beyond its control, including but not limited to Acts of God, Government restrictions, wars, insurrections, natural disasters, such as earthquakes, hurricanes or floods and / or any other cause beyond the reasonable control of the Party whose performance is affected.
Notice to Hirer
40. NOTICE TO HIRER. This is a Rental Agreement. You are not buying the equipment. Do not sign this Agreement before you read it or click accept terms and conditions.
You are entitled to a completed copy of this Agreement when you sign it or click to accept ‘terms and conditions’ in relation to this agreement.