Hire Purchase Agreement Date

These terms and conditions of sale of the lease-sale are an integral part of the lease agreement between the buyer and the seller (hereafter the contract). The contract consists of the specific terms agreed between the contracting parties (hereafter specific terms), these Terms and Conditions, the Payment Plan and other Annexes, including any subsequent changes and additions to be introduced in the future. Leases are similar to leases that give the lessor the ability to buy at any time during the agreement, such as . B car rental. Like rent, rental purchases can benefit consumers with bad credit by spreading the cost of expensive items that they could not afford over a long period of time. However, this is not the same as a credit extension, since the buyer technically only owns the item once all payments have been made. Lease-to-sale contracts are generally more expensive in the long run than a full payment when buying assets. This is because they can have much higher interest costs. For businesses, they can also represent more administrative complexity. 2.2 The contract is considered a financing and credit contract under which the seller and the postman agree to finance the buyer in the amount of the loan, and the buyer agrees to repay the amount of the credit instead of the buyer, attaching the accumulated interest and incidental costs. 1.15 The security contract is a contract between the seller and/or the postman and the buyer/seller and/or the postman and a third party (part) to ensure the proper performance of the buyer`s obligations arising from the contract (including a surety, guarantee and/or guarantee contract).

Unless all of these requirements are included in the agreement, the agreement itself cannot be applicable. The contract or lease is a sales contract whereby the property or assets are leased by the seller/financier (creditor) to the user of property or assets, i.e. rental clients (tenants). The tenant periodically pays payments in the form of counterparties and receives ownership of the assets after payment of the last tranche. 6. If the tenant does not pay a monthly rental fee on the due date, the tenant is required to pay interest of ……. to pay. From the date of delay to payment per year.

However, this applies without prejudice to the company`s right to terminate the contract due to a delay in payment of monthly payments, as provided below. Finally, the lease-sale agreement is also an agreement like any other agreement. There is no fixed rule like 2/2/4. Any agreement cannot be described as good or bad. The agreement may be amended according to comfort, with the agreement of the parties, i.e. the tenant and hp. The tenant should ensure that the agreement mentions rental fees and other payment terms and their consequences in the way he understands and interprets, and the conditions are as favorable as possible and pleasant. Similarly, the rental company should seek its interest in the agreement. Finally, the agreement should be clear on the terms agreed by each party. 12. The tenant keeps the aforementioned machinery and equipment, insured on behalf of the company, with a recognized insurance company and pays the premium as soon as it is due and regularly due.