General leasing terms and conditions
The general hire purchase terms and conditions below apply to this hire purchase agreement. The client is considered to be aware of these terms and conditions and to accept them.
SECTION 1: Commencement of the hire, termination of the hire, and transfer of ownership
1.1 The hire commences on the day on which the instrument is delivered to the client and is extended tacitly each month. The minimum hire period is 18 months and the maximum hire period is 50 months. After 50 months, the client has paid a sum equivalent to the listed value (p.1) and the transfer of ownership is completed (by way of a summary sales invoice) provided the client has fulfilled all obligations arising from this agreement.
1.2 The client acknowledges and accepts that the supplied instrument remains the supplier's property until the listed value has been paid in full. Until such time, the client is not entitled to give the instrument to third parties in pledge or as surety or to hire it out.
1.3 The instrument can also be purchased earlier than planned. At the time of purchase, all paid rent and the rental guarantee are deducted from the instrument's listed value (p.1).
SECTION 2: Payments
2.1 The sum to be paid monthly is stated in the hire agreement. The client is considered to be aware of this sum and no monthly invoices are issued. The first month's hire is due no later than the time of delivery of the instrument. The subsequent monthly payments must be made by direct debit.
2.2 Each monthly hire which is not paid by the expiry date accrues 12% annual interest without prior notice. The due balance is raised by a fixed sum of 10% compensation amounting to at least 50 euros.
SECTION 3: Guarantee
3.1 Before the instrument is delivered, the client must transfer a rental guarantee equalling three times the monthly hire price. If the hire agreement is not terminated early, this guarantee is used at the end of the hire period to pay the last three months of hire.
3.2 If the hire purchase agreement is terminated early, the rental guarantee is returned after the instrument has been collected provided all due sums have been paid and no damage has been found on the instrument.
SECTION 4: Use and risk
4.1 The instrument must be used in accordance with its purpose. The client declares that he or she will maintain the instrument in good condition after receipt and, in the event of termination of the hire agreement, will return it to the supplier in the same condition. Any faults or damage as a result of wear and tear or defect must be reported in writing to the supplier within 48 hours of receipt of the instrument
4.2 The client must maintain the instrument with due care and diligence and in accordance with the supplier's instructions. The client is not permitted to carry out repair work himself or herself or to have the instrument repaired without the prior written consent of the supplier.
4.3 The client must notify the supplier of any change of address at least one week before the removal. The removal must be completed by the supplier at a previously fixed rate. The instrument must not leave the territory of Belgium during the entire hire period.
4.4 If the instrument has to be put on an upstairs floor, all costs thereby arising are for the account of the client. Same thing applies at the termination of the agreement and the collection of the piano.
4.5 As soon as the client is in possession of the instrument, he or she bears all risks (including in cases of circumstances beyond one's control, theft, and destruction) as well as the responsibility of safekeeping.
4.6 The client shall insure the instrument against fire or any other accidents for a value equal to the listed value.
4.7 The client is liable for any damage to the instrument and will pay compensation for this in the event of the instrument being returned. If necessary, the client should pay the supplier the surrender value of the hired goods. If the client is not in a position for any reason whatsoever to return the hired instrument to the supplier, the client must pay the supplier compensation equal to the replacement value of the hired instrument.