Hire Purchase Agreement With Guarantor

10. During the hanging of this agreement, the tenant keeps the machine in good condition and maintains it properly as a prudent man would, and replaces any part of it lost or not used or is no longer used or broken. 6. If this machine is not introduced by chance, this agreement is null and void and the company is entitled to claim the amount advanced by the company by the tenant and the guarantor as debt and the guarantee granted here, 14. The Hirer proposes to install the machine in question at ……. and undertakes not to withdraw them elsewhere without the company`s prior written consent. The tenant must not remove the badges affixed to the machine to identify the ownership of the company during the duration of the contract. 29. When the option to purchase is exercised to be effective before the expiry of this contract, the tenant is required to pay an amount equal to the purchase price of the rent or the balance of the rent, payable by monthly rental costs until the date of the agreed term of the contract, since it is reduced by a discount corresponding to two thirds of the unasuitable amount. , which must be rented in the same proportion. how the balance of the rental sale price, which is not previously due, is supported by the rental price.

26. In the event of termination of this contract by due effect or early termination by the company or by the tenant or by any other means, without the tenant exercising his option to purchase this machine, the company becomes the absolute owner of this machine and immediately hands it over to the company by the tenant. You also have the rights to the deposit against the tenant: 17. The Hirer must not give the machine in question on the rent o? on any other basis, to use it or authorize it by another person without the prior written consent of the company, and not to mortgage or mortgage the same thing with a person to ensure the payment of the funds. 18. The ownership or ownership of the company on said machine is not affected during the term of the contract and the tenant is considered bailee with all the obligations and obligations of a bailee in the law. 35. The surety guarantees the correct performance of the agreement by the tenant and the payment of all funds that the tenant must pay to the company under this agreement, and if the tenant does not pay the amount due and to pay to the company, the surety will pay the same as the company`s written request. , without opposition or objection.

28. The tenant has the option to acquire this machine and the option is exercised by being communicated to 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 machine mentioned in the point (7), reduced by the total amount of payments or rupees paid up to that date, depending on the highest date.

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