This Equipment Rental Agreement ("Agreement") becomes 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 Passionate Consultants (Private) Limited, trading as Lens Rent Zimbabwe (through its website lensrentzimbabwe.com), (the "Lessor") and the Lessee, collectively referred to as the "Parties". The Lessor is prepared to rent to the Lessee, and the Lessee desires to rent from the Lessor, certain tangible personal property (as agreed between the parties). Now, therefore, in consideration of the mutual covenants and promises hereinafter set forth, the Parties hereto agree as follows:
Lease Term, Rent and Deposit:
The term of this Agreement shall commence on the start date described in the rental invoice and shall expire on the completion date also shown in the rental invoice. The amount payable for the Equipment rental shall be paid in advance as per the details outlined on the rental invoice. Cancellation fees will be calculated at 50% of the rental invoice fee.
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 Zimbabwe in any way relating to the possession, use or maintenance of the Equipment. Should the Equipment be utilized in a country other than Zimbabwe, such laws, ordinances and regulations specific to that country shall also be fully 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 good working order and in the same condition as existed at the commencement of the rental contract. In the event that the Equipment appears damaged when the Lessee collects the Equipment, the Lessee must notify the 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 maintains appropriate insurance coverage over the Equipment being rented to the Lessor. The Lessor's insurance cover contains a twenty percent (20%) excess (a shortfall payment required on any claim against the insurer for any equipment loss or damage) on the replacement or repair value. There may also be a shortfall which occurs as a result of a loss due to damage, complete loss, fire, theft, collision, and other such risk. The Lessee shall be responsible for any such excess payable and any insurance claim shortfall. Therefore, the Lessee hereby assumes and shall bear the entire risk of any loss and/or damage to the Equipment from any and every cause, that is not adequately covered by the Lessor’s insurance policy. 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 provide full details of the circumstances of that 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 repair service provider. The Lessee agrees to be bound, legally and otherwise, by the report of the Lessor's chosen repair service provider 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 the Lessee has failed to return the Equipment to the Lessor within seven (7) days of expiration of the rental period. After which, the Lessee shall pay to the Lessor 100% of the replacement value of the Equipment.
Out-of-Stock Equipment and Multiple Equipment Orders:
The 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, thereby delaying the fulfilment of the Lessee's order, the Lessor shall keep the Lessee informed of any such Equipment shortage 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 alternate arrangements, or a mutually agreeable solution is negotiated with the Lessee.
Surrender 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 the Lessee shall not represent the Lessor's acceptance as to condition of the Equipment and the Lessor reserves the right to make a subsequent assessment regarding the condition of the Equipment.
Customs requirements and Cross-Border Taxes (if the equipment is taken outside Zimbabwe):
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 charges 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 by the Lessee as a result of system failure of the Equipment provided by the Lessor.
Late returns are subject to a fee equivalent to a two-day rental price per day of late return. 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 the 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. Additional Documents:
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.
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 ensure that descriptions and prices of the Equipment are correct and accurate. The Lessor reserves the right to make corrections to descriptions and prices as may be needed. All prices and availability are subject to change without notice. Governing Law:
This Agreement shall be construed and enforced according to the laws of Zimbabwe.