Rental contract - terms of service

The signatory parties do hereby freely enter into an instrument rental agreement. “The Burlington Violin Shop” and “Vermont Violins” are registered trade name owned by Vermont Violins, Inc. Payments and Terms of Equity Accrual: • Rental Payments are due at the commencement of each term. Terms are pre-paid and non-refundable. • Unless specially noted, all rentals are subject to the autopay process. Credit cards will be charged accordingly. • Autopay: Lessee authorizes Vermont Violins, Inc. to charge his or her credit/debit card listed for past due charges and term rentals whenever the rent is due. It is understood that enrollment is for the duration of the rental contract. • Vermont Violins does not send rental invoices. Lessee is responsible for making timely payments. Lessee may request a receipt for any payment made and credited and, upon reasonable notice, a written statement of the account. • Vermont Violins remains the sole and exclusive owner of the rental property until such time as payment in full is received for the property and the rental account is closed. • Two-thirds of all rental payments accrue towards the purchase price. Damage Waiver payments do not accrue towards purchase. • No payment received four or more months past-due is credited towards purchase. • Accrued purchase credit may be transferred to an instrument of equal or greater value. Subject to the Materials Fee. • Accrued purchase credit from multiple instruments may not be combined towards a single instrument. • Equity accrued from bow, harp, mandolin rentals may not be transferred to this instrument rental and vice-versa. • Accrued credit may not be applied towards consigned instruments. • Upon return of an instrument, Vermont Violins, Inc. will honor the credit for a period not to exceed one year following the day of return. • Switching instruments, or re-activating a dormant account, will be subject to a Materials Fee to cover set-up materials and labor costs associated with the switch. • Prices subject to change without notice. Late Payments: • A late payment fee will be assessed in the event payment is in excess of thirty days late. • In the event a payment is past due, Vermont Violins, Inc. reserves the right to either demand return of the instrument or, at its sole discretion, payment for full value of the instrument (less accrued credit) and all past-due charges, inclusive of late fees and sales tax. • Lessee agrees to pay all police, court costs, reasonable attorney’s fees, and fees assessed by third party collections agents incurred should legal or collections action be required for the return of the instrument, collection of rental payments or collection of repair fees. • NOTICE: FAILURE TO RETURN THE RENTAL PROPERTY WITHIN 72 HOURS AFTER DELIVERY TO YOU OF NOTICE TO RETURN, OR WITHIN 15 DAYS AFTER THIS AGREEMENT HAS EXPIRED OR THE PRESENTING OF FALSE, FICTITIOUS OR MISLEADING IDENTIFICATION MAY BE CONSIDERED AS EVIDENCE OF AN INTENTION TO COMMIT LARCENY. (Added 1969, No. 165 (Adj. Sess.); amended 1971, No. 199 (Adj. Sess.), § 15; 1995, No. 181 (Adj. Sess.), § 24; 2005, No. 156 (Adj. Sess.), § 7.) Long-Distance: • Lessee is responsible for all postage and shipping costs associated with the rental instrument, unless waived by Vermont Violins, Inc. • Lessee must obtain permission in advance from Vermont Violins, Inc in the event they wish to take the instrument out of the United States. Permission is also required if the Lessee is moving permanently out of New England or the United States and wish to continue the instrument rental. Damage: • Should the instrument require adjustment or repairs, it must be returned to Vermont Violins, Inc.. Adjustments are free-of-charge. Vermont Violins, Inc, at its sole discretion, shall determine what is an adjustment and what is repair. • Cost of repairs shall be the responsibility of the Lessee, unless the Lessee has purchased the damage waiver. At no time may repairs be undertaken by the Lessee or other parties. Lessee is responsible for all damage incurred. In the event of catastrophic “total” damage, lessee is responsible for the full value of the property, as adjusted by accumulated purchase equity. • The Damage Waiver covers the cost of all repairs EXCEPT THE FOLLOWING: *Loss, Theft, Fire: *Replacement Strings & Bow Rehairing *Shipping Damage (from Lessee to Vermont Violins, Inc.) or damage incurred by air travel or out of the United States; * Intentional Damage,; * “Home Repairs,” third-party repairs or the correction of faulty work by either.