This Equipment Rental Agreement ("Agreement") is made and effective by the customer ("Lessee") signing this Agreement and the payment of the rental invoice by the Lessee on or prior to collection of the Rental Equipment, by and between LensRental.co.za, ("Lessor") and the Lessee, collectively referred to as the "Parties". The Lessor desires to Rent to the Lessee, and the Lessee desires to Rent from the Lessor, certain tangible personal property. Now, therefore, in consideration of the mutual covenants and promises hereinafter set forth, the Parties hereto agree as follows:
The Lessor hereby Rents to the Lessee, and the Lessee hereby Rents from the Lessor, described Rental Equipment (the "Equipment") as shown in the rental invoice. The Lessor warrants that the Lessor has the right to Rent the equipment, as provided in this Agreement.
Lease Term, Rent and Deposit
The term of this Agreement shall commence on the start date described in the invoice and shall expire on the finish date shown in the invoice. The amount payable for the Equipment shall be paid in advance or upon collection in full. When booking in advance, a deposit of at least 40% (forty percent) of the invoice value shall be paid within seven days of placing the rental booking in order to secure the said booking. This is not a security deposit per se, butforms part of the payment of the invoice amount. No security deposit shall be required.
The Lessee shall use the Equipment in a careful, reasonable and proper manner and shall comply with and conform to all national, provincial, municipal, police and other laws, ordinances and regulations of the Republic of South Africa ("South Africa") in any way relating to the possession, use or maintenance of the Equipment. Should the Equipment be utilized in a country other than South Africa, such laws, ordinances and regulations specific to that country shall also be complied with.
Repairs and Maintenance
The Lessor, at its own cost, shall keep the Equipment in good repair, condition and working order and shall furnish any and all parts, mechanisms and devices required to keep the Equipment in good mechanical working order. The Lessee shall not repair or materially alter the physical or otherwise makeup of the Equipment in any way.
The Lessor, before collection by the Lessee, shall check Equipment to determine whether it is in working order. In the event that the Equipment appears damaged when the Lessee collects the Equipment, the Lessee must notify Lessor immediately upon their first inspection of the Equipment and the Lessor will negotiate a mutually agreeable solution with the Lessee.
Damage, Loss and Insurance
The Lessor requires that appropriate insurance coverage is available to the Lessor; the Lessee shall provide either proof of adequate self-insurance or the Lessee shall take the Lessor's insurance option.
The Lessor's insurance option comes with a twenty percent (20%) excess on the replacement or repair value, limited to a minimum of R1,000 (one thousand Rands), which the Lessee shall be responsible for, and covers losses against damage, loss, fire, theft, collision, and other such risks
In the event that the Lessor's insurance option is not taken, the Lessee hereby assumes and shall bear the entire risk of loss and damage to the Equipment from any and every cause. The Lessee, while in possession of the Equipment, shall be responsible for maintaining adequate insurance on the Equipment, with losses payable to the Lessor, against damage, loss, fire, theft, collision, and other such risks as are appropriate and specified by the Lessor.
In the event of loss or damage of any kind whatsoever to the Equipment, the Lessee agrees to immediately contact the Lessor with an accurate description of the loss or damage and the circumstances of its occurrence. If required by the Lessor, the Lessee shall furnish a sworn Affidavit to that effect.
The Lessor expressly reserves the right to choose the repair method and venue, within reasonable market value terms. The Lessee agrees to be bound, legally and otherwise, by the report of the Lessor's chosen repair venue as to the cause of the damage to the Equipment.
The Equipment, unless the Lessee otherwise informs the Lessor, shall be deemed to be "lost" when Lessee has failed to return the Equipment to the Lessor within seven (7) days of expiration of the rental period. After thirty (30) days, the Lessee shall pay to the Lessor 20% of the replacement value of the Equipment, in terms of the Lessor's insurance.
In the event of loss of any kind whatsoever to the Equipment, the Lessee shall, at the Lessor's option:
- Place the same in good repair, condition and working order; or
- Replace the same with like Equipment in good repair, condition and working order; or
- Pay to the Lessor the insurance excess on the Equipment, as setforth above.
Out-of-Stock Equipment and Multiple Equipment Orders.
Lessor shall make the Equipment available to the Lessee as it becomes available, in terms of the Lessee's order. Where the Equipment the Lessee ordered is out-of-stock, delaying fulfilling the Lessee's order, the Lessor shall keep the Lessee informed of any such Equipment and shall, as far as possible, negotiate a mutually agreeable solution with the Lessee.
For a multiple Equipment order, the Lessor will make every attempt to make available to the Lessee all the Equipment contained in the order at the same time. Equipment that is unavailable at the time of collection may be collected as they become available, unless the Lessee notifies the Lessor of their alternate wishes to this end, or a mutually agreeable solution is negotiated with the Lessee.
Upon the expiration or earlier termination of this Agreement, the Lessee shall return the Equipment to the Lessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof alone excepted. The Lessor's acceptance of the Equipment upon return by Lessee shall not represent the Lessor's acceptance as to condition of Equipment and the Lessor reserves the right to make a subsequent assessment regarding the condition of the Equipment.
The Lessee shall keep the Equipment free and clear of all levies, taxes, duties, liens, charges and other encumbrances. The Lessee shall report to the Lessor, pay and discharge all levies, taxes, duties, liens, charges and other encumbrances arising from the Lessee's use or operation of the Equipment. In the event that such are levied against the Lessor, the Lessee agrees to reimburse the Lessor in full for those charges.
The Lessee shall indemnify the Lessor against, and hold the Lessor harmless from, any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including reasonable attorney's fees and costs, arising out of, connected with, or resulting from the Lessee's use of the Equipment. This specifically includes but is not limited to loss of data and Equipment failure on the Equipment provided by the Lessor.
Late returns are subject to a fee of the two-day rental price per day. If the Lessee fails to pay any rent or other amount herein provided within ten (10) days after the same is due and payable, or if the Lessee fails to observe, keep or perform any other provision of this Agreement required to be observed, kept or performed by the Lessee, the Lessor shall have the right to exercise any one or more of the following remedies:
- To declare the entire amount of rent hereunder immediately due and payable without notice or demand to Lessee.
- To sue for and recover all rents, and other payments, then accrued or thereafter accruing.
- To take possession of the Equipment, without demand or notice, wherever same may be located, without any court order or other process of law. The Lessee hereby waives any and all damages occasioned by such taking of possession.
- To terminate this Agreement.
- To pursue any other remedy at law or in equity.
- To charge interest at twenty percent (20%) per annum on amounts due, compounded monthly.
Ownership and Assignment
The Equipment is, and shall at all times be and remain, the sole and exclusive property of the Lessor; and the Lessee shall have no right, title or interest therein or thereto except as expressly set forth in this Agreement.
The Lessee shall not assign or transfer this Agreement or its interest in the Equipment without the prior written consent of the Lessor.
If the Lessor shall so request, the Lessee shall execute and deliver to the Lessor such documents as the Lessor shall deem necessary or desirable for purposes of recording or filing to protect the interest of the Lessor in the Equipment including, but not limited to, copies of an identity document or passport, proof of physical residence and proof of insurance.
This constitutes the entire Agreement between the Parties and supersedes any prior understanding or representation preceding the date of this Agreement. This Agreement may be modified in writing and must be signed by both the Lessor and the Lessee.
Headings used in this Agreement are provided for convenience only and shall not be used to construe meaning or intent.
Every effort is made to assure that descriptions and prices of Equipment are correct. The Lessor reserves the right to correct errors as needed. All prices and availability are subject to change without notice.
This Agreement shall be construed and enforced according to laws of South Africa.