Agreement And Hire Purchase

Filed under:Uncategorized — posted by admin on December 2, 2020 @ 5:43 am

Most of the car loans offered by garages are rental loans. Consumers may also be offered rental credits when purchasing furniture, computer appliances or electroelectric goods. Leasing contracts (HP) differ from leases by expressly offering the customer an option to purchase the asset at the end of the life. 19. This agreement is considered to have begun from the date of this agreement and remains for a period of … years from the date on which the … and (unless the tenant exercises the option to purchase as intended below), at the end of the aforementioned period or the previous termination of the latter, as is the following, provided that the tenant gives the machines and equipment mentioned in good condition at his expense at the place of activity of the company or as indicated by the company, provided that the tenant remains required to : to pay the rental costs until these machines and equipment are actually delivered to the company or taken over by the company. 25. The tenant has the opportunity to acquire these machines and equipment, and the option is exercised by notifying the company one month in advance. The option to purchase may be exercised from the expiry date of the agreed deadline for this contract or from an earlier date. In the first case, the tenant is required to pay the company an amount equal to the rental price of the machines and equipment referred to in the point (3), reduced by the total amount of payments up to that date or the higher rupee.

In the latter case, that is, if the option to purchase is exercised before the term of the contract expires, the tenant is required to pay an amount equal to the purchase price of the rent or the balance of the rent, payable in monthly increments of the rental costs up to the date of the agreed term of the contract, since it is reduced by a discount corresponding to two thirds of an amount corresponding to the rental costs. the same share as the balance of the rental sale price that has not been due until now applies to the purchase price of the lease. This information explains what leases (HP) and conditional sales contracts are. It informs you of your rights if you want to terminate the contract and the lender`s rights if you do not pay. When a consumer returns defective goods, he is entitled to reimbursement of payments paid as consumer rights in this situation, as if the goods had been purchased directly.

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image: detail of installation by Bronwyn Lace