COMPEX HIRE AGREEMENT
THIS EQUIPMENT HIRE AGREEMENT (this "Agreement")
Total Wellness Ltd. of 26 Bush Hill Road, London N21 2DS
OF THE FIRST PART
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 Compex SP6/SP8/SP4 as per the order.
- "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 approximate delivery date, one working day from the order date, and will continue until 4 or 6 weeks later (the "Term") as defined in the order.
Rent and Deposit
- The rent, inclusive of VAT, will be paid in one sum at the published rate, in advance, on the order date. (the "Rent").
- The Hirer will pay the balance of the purchase price as a deposit (the "Deposit") before taking possession of the Equipment. The Owner will refund the Deposit to the Hirer at the end of the
Term provided that the Hirer has performed all of the Hirer's obligations under this Agreement.
- The residual value (the "Residual Value") of the equipment is the published retail price less the rent.
Purchasing the Equipment
- The Hirer has the option to purchase the Equipment at the end of the Term by notifying the owner, the residual value will be offset by the deposit, leaving a zero balance.
Delivery of Equipment
- The Owner will, at the Owner's own expense and risk, deliver the Equipment to the Hirer to the delivery address provided on the order.
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, 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.
- 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.
Repair and Maintenance of Equipment
- The Hirer will, at the Hirer's own expense, keep the Equipment in good repair, appearance 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.
- The Equipment will be in good working order and good condition upon delivery.
- The Equipment is of merchantable quality and is fit for the following purpose: For personal use only.
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 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 complete Equipment at the Hirer's cost, expense and risk to the Owner by delivering the
Equipment to Total Wellness Ltd. 26 Bush Hill Road, London N21 2DS. If the Hirer fails to return the Equipment to the Owner at the end of the Term, ownership of the Equipment will pass to the Hirer.
- The Hirer will report and pay all taxes, fees and charges associated with the Equipment, with the use of the Equipment, and with revenues and profits arising out of the use of the Equipment, including, but not limited to, sales taxes, property taxes, and license and registration fees. The Hirer will pay any and all penalties and interest for failure to pay any tax, fee or charge on or before the date on which the payment is due. The Hirer will pay any and all penalties and interest for failure to report required information to any taxing authority with jurisdiction over the Hirer or the Equipment. If the Hirer fails to do any of the foregoing, the Owner may, but is not obligated to, do so at the Hirer's expense.
- Notwithstanding any other provision of this Agreement, the Hirer will not be required to pay any tax, fee or charge if the Hirer is contesting the validity of same in the manner prescribed by the legislation governing the imposition of same, or in the absence of a prescribed form, in a reasonable manner. However, the Hirer will indemnify and reimburse the Owner for damages and expenses incurred by the Owner arising from or related to the Hirer's failure to pay any tax, fee or charge, regardless of whether the Hirer is contesting the validity of the same or not.
- If the Hirer fails to pay any and all taxes, fees, and charges mentioned in this Agreement and the Owner, on behalf of the Hirer, pays the same, the Hirer will reimburse the Owner for the cost upon notification from the Owner of the amount.
- 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 when such amount 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.
- 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 may renew this Agreement for an additional Term if the Hirer has given the Owner 7 days written notice of the Hirer's intention to renew and if the Hirer is not in default of any of the terms under this Agreement. Other than as agreed upon in writing between the Parties, the renewal will be on the same terms as this Agreement, except for this renewal clause. Only one renewal per hire period is available, the longest hire term being twelve weeks.
- The equipment must be returned in original condition with all accessories. Any missing parts will be chargeable at retail cost.
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: Total Wellness Ltd., 26 Bush Hill Road, London N21 2DS
- 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.
- Agreeing to the terms and condition on our website at the time of order include this agreement.
- 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.