After
the initial rental period the lessee may elect to renew the rental on a monthly
basis. Monthly payments are not prorated.
All
rental payments are due in advance and the lessee authorizes the company to
bill the credit cards provided for the rental fees and any past due balances
provided on this agreement. There are NO REFUNDS on paid rental monies.
A
minimum late fee of $5.00 or 5% of the payment amount per payment will be
assessed to past due payments.
Title
and right of possession of the instrument shall remain with the company until
the total rental payments equal the total rental cost of the instrument, plus
sales tax as shown on the front of the agreement. At that time, ownership will
be transferred to the Lessee. If the rental payments are not made on time the
company shall have the right to take possession of the instrument.
Instrument Exchange:
Strings: Lessee may trade
in Violins, Violas and Cellos for a larger size as the child grows. We will
apply 100% or your rental payments (not including tax and additional fees)
towards the larger instrument. You then agree to the terms and conditions of
this agreement to apply to each instrument exchanged.
Band Instruments: The lessee may
exchange from one instrument to another, apply any rental payments and pay
additional rental charges which are due. The terms and conditions of this
agreement will apply to the instrument exchanged. String to strings exchanges
are allowed and band instrument to band instrument.
In
the event that rental payments become past due by 45 days or more the company
will consider the lessee in default of the agreement and the entire balance
owing on the agreement plus all the collection fees (attorney, home repo,
collection agency where allowed by law) will become due and payable on demand.
In the event that the company must repossess the instrument a $50 fee will be
attached for each attempt made at the lessee current, known address (where
allowed by law).
The
lessee retains the right to terminate this agreement at any time by returning
the instrument to the company. If returned, all payments made shall be
considered rental and the account must be up to date at the time of return. All
original accessories issued at time of rental must be returned with the
instrument or you must pay for them at time of return.
DO NOT LEAVE
INSTRUMENT AT SCHOOL.
Your school is not party to this agreement.
SALES
TAX MUST BE ADDED TO ALL PRICES AND RENTAL FEES SHOWN WITH THIS AGREEMENT.
Tier
2 -5 instruments may show cosmetic wear and tear consistent with the grade and
pricing of the instrument.
The
company may obtain a credit report using the information supplied on the
application.
Customer
is responsible for early purchase price or payoff amount (whichever is less) if
the instrument is stolen or destroyed.
Customer Options: A customer may
return an instrument at any as long as payments are up to date. A customer may
continue monthly payments until they have completed the agreement. At that
point, ownership of the instrument will be transferred to the customer.
EARLY PURCHASE PRICE: Customer may at
any time purchase the instrument by taking the total rental price as shown on
this agreement by deducting the total of all rental payments made and paying
the remaining balance.
Maintenance Coverage (Optional): All new instruments, leased or sold by the company carry a manufacturer’s warranty against defects from fault materials or workmanship. In addition to this warranty, the company for the monthly charge shown (in addition to the monthly rental) will protect the lessee against damage to the instrument subject to the following terms and conditions:
Mysterious disappearance from band room or locker is not covered. Payments made prior to date of loss are not refundable or transferable.
For Theft, the lessee must furnish the company with a POLICE REPORT showing forced entry within 72 hours of the loss.
Any fees necessary to obtain such a report will be incurred by the lessee.
If the instrument becomes damaged so that it affects the performance the company will maintain and regulate it to proper playing condition. Repair due to misuse, negligence (dents), intentional harm or abuse is not covered. The customer will be responsible to pay for repairs to refurbish the instrument. The paragraph does not apply to deterioration of appearance which does not affect the performance of the instrument, such as scratches and finish.
The following are SPECIFICALLY EXCLUDED FROM COVERAGE: Instrument cleaning, acid baths, drum heads, drum sticks, mouthpieces, ligatures, caps, reeds, strings, violin bows, swabs, lubricants, cases, lost or damaged parts and special or custom equipment.
Excluded is the destruction of a violin that will carry $200 deductible, cellos carry $300 deductible.
Any claim for repair or replacement here under shall not be constructed to alter or diminish the terms of the accompanying rent purchase agreement, and if lessee defaults by more than 10 days in any payment there of maintenance plan will lapse as of such default
and may be reinstated only by permission of the company.
All repairs and replacements for which claims are made under this coverage must be made by the company. No others will be honored. The company may terminate maintenance from any contract at the discretion of the company.
