EQUIPMENT HIRE AGREEMENT
THIS EQUIPMENT HIRE AGREEMENT (this "Agreement") dated - _the purchase date / actual transaction date, ________
BEAN AROUND.COM LTD of 2 Cathedral Square, Peterborough, PE1 1XH
OF THE FIRST PART
- AND -
The card holder / purchaser
OF THE SECOND PART
(the Owner and Hirer are collectively the "Parties")
IN CONSIDERATION OF the mutual covenants and promises in this Agreement, the receipt and
sufficiency of which consideration is hereby acknowledged, the Owner leases the Equipment to the
Hirer, and the Hirer leases the Equipment from the Owner on the following terms:
- The following definitions are used but not otherwise defined in this Agreement:
- "Casualty Value" means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.
- "Equipment" means SCOTT - Slimissimo Bean To Cup & Milkissimo which has an approximate value of £429.00.
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- "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.
- The Owner agrees to lease the Equipment to the Hirer, and the Hirer agrees to lease the Equipment from the Owner in accordance with the terms set out in this Agreement.
- The Agreement commences on ( the Purchase date ) of this agreement and will continue for 24 consecutive months (the "Term").
Rent and Deposit
- The rent, will be paid in instalments of £39.95 each month, in advance, beginning on - purchase / agreement start date - and will be paid on the same day of each succeeding month throughout the Term (the "Rent").
- The Hirer will pay a deposit of £75.00 (the "Deposit") before taking possession of the Equipment. The Owner will refund the Deposit to the Hirer at the end of the Term provided in full. that the Hirer has performed all of the Hirer's obligations under this Agreement.
- The residual value (the "Residual Value") of the equipment is £5.00 at the end of the term.
Purchasing the Equipment
- The Hirer has the option to purchase the Equipment before the end of the Term by paying the following amounts:
- the Residual Value of the Equipment; @ £25.00 per calendar month outstanding from the original lease/rental term.
- any fees, taxes, delivery charges and expenses related to the purchase of the Equipment.
- 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:
- the Deposit; and
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- any money received from an insurance claim or action that is not used to repair or replace the Equipment.
Use of Equipment
- 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 law, whether local, state or federal respecting the use of the Equipment, including, but not limited to, environmental and copyright law.
- The Hirer will use the Equipment for the purpose for which it was designed and not for any other purpose and only use BE.AR. coffee beans.
- 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
Repair and Maintenance of Equipment
- The Hirer will, at the Hirer's own expense, keep the Equipment in good repair, appearance and purchase descale packs directly for regular servicing available on @ www.thebeanaround.com or online. and condition, normal and reasonable wear and tear excepted. The Hirer will supply all parts that are necessary to keep the Equipment in such a state.
- If the Equipment is not in good repair, appearance and condition when it is returned to the Owner, the Owner may make such repairs or may cause such repairs to be made as are necessary to put the Equipment in a state of good repair, appearance and condition, normal and reasonable wear and tear excepted. The Owner will make the said repairs within a reasonable time of taking possession of the Equipment and will give the Hirer written notice of and invoices for the said repairs. Upon receipt of such invoices, the Hirer will immediately reimburse the Owner for the actual expense of those repairs.
- The Hirer may, but is not obligated to, enforce any warranty that the Owner has against the supplier or manufacturer of the Equipment. The Hirer will enforce such warranty or indemnity in its own name and at its own expense.
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- The Equipment will be in good working order and good condition upon delivery.
- The Equipment is of merchantable quality and is fit for the purposes it is ordinarily used.
Loss and Damage
- 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.
- If the Equipment is lost or damaged, the Hirer will continue paying Rent, will 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.
- 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 Lease and Quiet Enjoyment
- The Equipment is the property of the Owner and will remain the property of the Owner.
- The Hirer will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.
- The Owner warrants that the Owner has the right to lease the Equipment according to the terms in this Agreement.
- The Owner warrants that as long as no Event of Default has occurred, the Owner will not disturb the Hirer's quiet and peaceful possession of the Equipment or the Hirer's unrestricted use of the Equipment for the purpose for which the Equipment was designed.
- At the end of the Term or upon earlier termination of this Agreement, the Hirer will return the Equipment at the Hirer's cost, expense and risk to the Owner by delivering the Equipment to 2 Cathedral Square, Peterborough, PE1 1XH. If the Hirer fails to return the Equipment to
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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 ownership of the Equipment will pass to the Hirer.
- No insurance coverage for the Equipment is required under this Agreement.
- The Hirer will indemnify and hold harmless the Owner against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney's fees and costs, arising out of or related to the Hirer's use of the Equipment.
- The occurrence of any one or more of the following events will constitute an event of default
("Event of Default") under this Agreement:
- The Hirer fails to pay any amount provided for in this Agreement within seven days
after same is due or otherwise breaches the Hirer's obligations under this Agreement.
- 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.
- A writ of attachment or execution is levied on the Equipment and is not released or satisfied within 10 days.
- On the occurrence of an Event of Default, the Owner will be entitled to pursue any one or
more of the following remedies (the "Remedies"):
- Declare the entire amount of the Rent for the Term immediately due and payable
without notice or demand to the Hirer.
- Apply the Deposit toward any amount owing to the Owner.
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- Commence legal proceedings to recover the Rent and other obligations accrued before
and after the Event of Default.
- Take possession of the Equipment, without demand or notice, wherever 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.
- Terminate this Agreement immediately upon written notice to the Hirer.
- Pursue any other remedy available in law or equity.
- The Hirer is entitled to the protection and remedies available to them under the Consumer
Credit Act 1974.
- THE HIRER WILL NOT ASSIGN THIS AGREEMENT, THE HIRER'S INTEREST IN
THIS AGREEMENT OR THE HIRER'S INTEREST IN THE EQUIPMENT WITHOUT
THE PRIOR WRITTEN CONSENT OF THE OWNER.
- If the Hirer assigns this Agreement, the Hirer's interest in this Agreement or the Hirer's
interest in the Equipment without the prior written consent of the Owner, the Owner will
have recourse to the Remedies and will be entitled to all damages caused by the assignment.
- This lease coincides with a continued monthly coffee subscription service with the BEAN
AROUND.COM LTD, this service should exceed a monthly subscription for roasted coffee
beans to the value of £20.00 or more. If the hirer wishes to reduce or cancel the coffee
subscription service there will be an additional Machine hire fee of £15 ontop of the normal
hire fee set out in this contract.
- On successful completion of the 24 month coffee and machine subscription the machines detailed in this contract will be gifted to the hirer/subscriber mentioned in this contract in full. The coffee subscription will then continue as a coffee only subscription and the cost of this will revert to the standard cost of the coffee only & the deposit will be refunded in full. (£75-00 max)
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- If for any reason the hirer wishes to terminate the agreement early, the hirer is responsible for contacting the Bean Around.com Ltd to discuss their options for this early termination. All cancelation charges set out in this agreement will be chargeable in full if no other agreement can be made between the hirer and the Bean Around.com Ltd.
- This Agreement will constitute the entire agreement between the 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
- Service of all notices under this Agreement will be delivered personally or sent by registered mail or courier to the following addresses:
Owner: BEAN AROUND.COM LTD, 2 Cathedral Square, Peterborough, PE1 1XH
Hirer: ______Person setting up subscription and or card holder_________, _______
- All pound amounts in this agreement refer to pounds sterling, and all payments required to be
paid under this Agreement will be paid in pound sterling unless the Parties agree otherwise.
- Interest payable on any overdue amounts under this Agreement will be at a rate of 5.00 percent per annum or at the maximum rate allowed under applicable legislation, whichever is lower.
- 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.
- 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.
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- If there is a conflict between any 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.
- In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, those provisions to the extent enforceable and all other provisions will nevertheless continue to be valid and enforceable as though the invalid or unenforceable 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.
- This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.
- Time is of the essence in this Agreement.
- This Agreement will extend to and be binding upon and inure to the benefit of the respective heirs, executors, administrators, successors and assigns, as the case may be, of each Party to this Agreement.
- Neither Party will be liable in damages or have the right to terminate this Agreement for any delay or default in performance if such delay or 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
- NOTICE TO THE HIRER: This is a lease. You are not buying the Equipment. Do not sign this Agreement before you read it. You are entitled to a completed copy of this Agreement when you sign it.
- Value other than Rent paid or being paid to Owner: £25.00 per calendar month excluding coffee beans for If Hirer and Owner come to an agreement to end the lease term earlier than the agreed Term set out in the original lease. Additionally the damage deposit will also be withheld to facilitate the return of the equipment to the Bean Around.