Monitor Rental Agreement
THIS RENTAL AGREEMENT (this “Agreement”) must be signed by the Lessee and is to remain on file at ARCADIA CERTIFIED IMAGING PTE LTD. Upon acceptance of the delivery the agreement goes into effect for the rental terms as defined in the Sales Invoice. Throughout this Agreement, the words “We,” “Us”, and “Our” refers to the undersigned lessor, and the words “You” and “Your” refer to the undersigned lessee.
The undersigned parties agree as follows:
- Lessee/Renter (“You”) agree to defend, indemnify, and hold ARCADIA CERTIFIED IMAGING PTE LTD, our agents, employees (“Us” or “We”) harmless from and against any and all claims, actions, causes of action, demands, rights, damages of any kind, costs, loss of profit, expenses and compensation whatsoever including court costs and attorneys’ fees (“Claims”), in any way arising from, or in connection with the monitor(s) rented/leased under this Agreement (“monitor”), including, without limitation, as a result of its use, maintenance, or possession, irrespective of the cause of the Claim, except in the case of our sole negligence or wilful act, from the time the monitor(s) leaves our place of business when you rent it until the monitor(s) is returned to us during normal business hours and we sign a written receipt for it.
- You shall pay such deposit and rent, in such amounts and manner, and at such times, as are set forth in Sale Invoice attached hereto. All payments here under shall be paid unconditionally, without abatement, and free and clear of all claims, demands, or set-offs against us, however arising, and your only recourse against us shall be by separate action.
- This Agreement shall commence and continue for the term set forth in Sales Invoice attached hereto. This Agreement is not terminable by you and will otherwise terminate only as set forth herein. If you fail to return the monitor(s) in accordance with the terms hereof after the termination of this Agreement, We have the option, without notice to you, to extend the term of this Agreement on a daily basis until the monitor(s) is returned to us.
- LOSS OF OR DAMAGE TO THE MONITOR(S). You are responsible for loss, damage or destruction of the monitor(s), including but not limited to losses while in transit, while loading and unloading, while at any and all locations, while in storage and while on your premises, except that you are not responsible for damage to or loss of the monitor(s) caused by our sole negligence or wilful misconduct. You agree to promptly notify us in writing of any loss or damage and you will then pay us the full cost of reinstatement of loss of Equipment, including the cost of the same or comparable Equipment at current retail price less any discounts available, and the associated lost in income due to Equipment being in a non-rentable state.
- MONITOR(S) IN WORKING ORDER. We have tested the Monitor(s) in accordance with reasonable industry standards and found it to be in working order immediately prior to the inception of this Agreement, and to the extent you have disclosed to us all of the intended uses of the Monitor(s), it is fit for its intended purpose. Other than what is set forth herein, you acknowledge that the Monitor(s) is rented/leased without warranty, or guarantee, except as required by law or otherwise agreed upon by the parties at the inception of this Agreement. You shall inspect the Monitor(s) immediately upon receipt and acknowledge the due delivery and good working condition of the Monitor. You hereby acknowledged that the Monitor(s) shall be leased on an “as-is, where-is” basis and the COMPANY shall not be responsible for any defects or for the quality or compliance with description or fitness for any particular purpose of the Monitor or any part or parts.
- CONDITION OF THE MONITOR(S). You assume all obligation and liability with respect to the possession of Monitor(s), and for its use, condition and storage during the term of this Agreement except as otherwise set forth herein. You will, at your own expense, maintain the Monitor(s) in good mechanical condition and running order. The rent on any of the Monitor(s) will not be prorated or abated while the Monitor(s) is being serviced or repaired for any reason for which you are liable. Please do not attempt to repair the Monitor(s) by yourself or any third party. Any money incurred during the rental period will not be reimbursed to you. You must inform the Company of all accidents, damage, problem or malfunction of the Monitor(s), even those which may already have been repaired, when you return the Monitor(s). You will remain liable for any damages to the Company.
- ACCIDENT REPORTS. In the event of measures by third parties, including attachment, confiscation or impounding of the Monitor(s), you must promptly notify us of the occurrence. We will then be entitled to take all measures which it deems necessary to protect our rights. You will be liable for all damage, cost and/or expenses associated with the above measures and for any direct, indirect, consequential damages (such as loss...) to the Monitor(s) unless it is demonstrated that the Company is directly responsible for such confiscation or impounding of the Monitor(s). Furthermore, the rental agreement may be automatically terminated as soon as the Company is informed of such action by the legal authorities or by you. Any use of the Monitor(s) which may be detrimental to the Company will entitle the Company to automatically terminate the rental agreement with immediate effect. You will then return the Monitor(s) immediately as soon as the Company so requests. In the event of theft of the Monitor(s), the rental agreement will be terminated as soon as the Company has received a copy of the theft declaration made by you to the police authorities.
- Upon the expiration date of this Agreement with respect to any or all Monitor(s), you will return the property to us, together with all accessories, free from all damage and in the same condition and appearance as when received by you.
- SECURITY DEPOSIT. A refundable security deposit amount of $300 will be held during the rental period and refunded to you within 07 days of return. ACI reserves the right to withhold all or part of the security deposit in the event of damage. An equal sum shall be repaid without interest to you within 07 days at the termination of this Agreement.
- CHOICE OF LAW. The laws of Singapore govern this Agreement. The parties agree to submit to the non-exclusive jurisdiction of the courts in Singapore.