Equipment Hire Agreement

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:

Definitions

1. The following definitions are used but not otherwise defined in this Agreement: 

  1. "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.
  2. "Equipment" means Catering equipment.
  3. "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.

Lease

2. 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.

Term
3. The Lease commences on invoice date and will continue for 48 hours (the "Term").

Rent and Deposit

4. The rent for the Equipment will be paid prior to the Hirer taking possession of the Equipment.
5. The Hirer will pay a breakage deposit of £75.00 (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.

Use of Equipment

6. 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, whether local, state or federal respecting the use of the Equipment, including, but not limited to, environmental and copyright law.
7. The Hirer will use the Equipment for the purpose for which it was designed and not for any other purpose.
8. 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.

Warranties
9. The Equipment will be in good working order and good condition upon delivery.
10. The Equipment is of merchantable quality and is fit for the following purpose:
Catering.

Loss and Damage

11. 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.
12. If the Equipment is lost or damaged, the Hirer will continue paying Rent, 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.
13. 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

14. The Equipment is the property of the Owner and will remain the property of the Owner.

15. The Hirer will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.
16. The Owner warrants that the Owner has the right to lease the Equipment according to the terms in this Agreement.
17. 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.

Insurance

18. Surrey catering hire strongly advise that, during the whole of the Term and for as long as the Hirer has possession of the Equipment, take out, maintain and pay for insurance against loss of and damage to the Equipment for the full replacement value of the Equipment.

Indemnity

19.The Hirer will indemnify and hold harmless the Owner against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney's fees and costs, arising out of or related to the Hirer's use of the Equipment.

Default

20.The occurrence of any one or more of the following events will constitute an event of default ("Event of Default") under this Agreement: 

  1. 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.
  2. 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 other competent jurisdiction.
  3. A writ of attachment or execution is levied on the Equipment and is not released or satisfied within 10 days.

Remedies

21.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"):

  1. Declare the entire amount of the Rent for the Term immediately due and payable without notice or demand to the Hirer.
  2. Apply the Deposit toward any amount owing to the Owner.
  3. Commence legal proceedings to recover the Rent and other obligations accrued before and after the Event of Default.
  4. 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.
  5. Terminate this Agreement immediately upon written notice to the Hirer.
  6. Pursue any other remedy available in law or equity.

22.The Hirer is entitled to the protection and remedies available to them under the Consumer Credit Act 1974.

Assignment

24.If the Hirer assigns this Agreement, the Hirer's interest in this Agreement or the Hirer's interest in the Equipment without the prior written consent of the Owner, the Owner will have recourse to the Remedies and will be entitled to all damages caused by the assignment.

Additional Clauses

25.Cancellation charges, the following applies-
If a confirmed order is cancelled or substantially changed. Orders Cancelled within 14 days of start of hire 50% of hire charge. Orders Cancelled within 7 days of start of hire 100% of hire charge.

26.New customers and accounts. New Customers will be asked to produce proof of identification when hiring, which must contain their name and address. ie driving licence. All customers other than account customers will be required to pay a deposit before any goods can be hired. New customers will have to pay their deposit by credit/debit card or bank transfer. Trade accounts can be started within 10 days of receipt of two trade and one bankers reference.

27. Specific times for delivery/uplift cannot be guaranteed. Surrey catering hire Ltd, reserves the right to deliver the equipment on an earlier date/time than requested and to uplift at a later date/time than requested.

Interest

28.Interest payable on any overdue amounts under this Agreement will be at a rate of 4.00 percent per annum or at the maximum rate allowed under applicable legislation, whichever is lower.

General Terms

29.This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.

30.Time is of the essence in this Agreement.

31.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.

32. 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.

Notice to Hirer

33.NOTICE TO THE HIRER: This is a lease. You are not buying the Equipment.