Terms & Conditions of Rental
- Denyo United Machinery Pte Ltd, hereinafter referred to as the Owner, agrees to let and the Company as stated in this Agreement, hereinafter referred to as the Rentor, agrees to take up the rental of the equipment as stated in this Agreement, hereinafter referred to as the Equipment, subject to all the terms and conditions contained herein.
- Notwithstanding anything contained in this Agreement, the Equipment shall be the sole and absolute property of the Owner. Nothing herein shall be construed to imply that title to the Equipment will or may at any time pass to the Rentor.
GENERAL TERMS & CONDITIONS
Unless otherwise agreed by both the Owner and the Rentor in writing, the following general terms and conditions shall apply:
- This rental does not include operator, maintenance, consumable items, cranage, transportation, installation, insurance, etc;
- This rental is based on daily usage of twelve (12) hours maximum. Any usage exceeding this limit shall be charged accordingly;
- The Rent is charged from the time the Equipment leaves the Owner’s yard and continues until it is returned to Owner’s yard. If a daily rent is quoted, it shall apply to any part of a month and is valid only after the Rentor has fulfilled the minimum rental period;
- The Rentor shall bear the entire risk of loss, theft, damage or destruction of the Equipment from any cause whatsoever and no such loss, theft, damage or destruction shall affect any of the Rentor’s obligations under this Agreement;
- The Rentor shall insure the Equipment against any loss or damage by fire, theft and such other risks at such value and upon such terms as the Owner may from time to time require. The Owner shall be the beneficiary of the insurance policy. A copy of the insurance certificate shall be forwarded to the Owner for record purposes;
- The Equipment shall be used and operated only by the Rentor (or the Rentor’s duly authorised servants) in a skillful and proper manner for the purposes for which the Equipment is designed or suitable;
- The Equipment when returned to the Owner must be in good running condition, with normal wear and tear. If the equipment requires repairs due to reasons otherwise, the Rentor shall be liable for the costs of restoration.
DEPOSIT AND RENT
- Upon the execution of this Agreement, the Owner may require that the Rentor furnish a deposit to the Owner an amount as stipulated by the Owner as security for the due performance and observance by the Rentor of the covenants and conditions herein contained and on the Rentor’s part to perform and observe.
- Unless otherwise agreed in writing by both the Owner and the Rentor, the Rentor shall without demand, pay the Rent to the Owner monthly in advance, the first of such payments to be paid on the first day of the Rental Period and subsequent payments to be paid on the corresponding day of each succeeding month of the Rental Period.
The Rentor hereby covenants with the Owner as follows:
- To pay the Rent and any other monies payable hereunder at the times and in the manner stipulated in this Agreement;
- Forthwith to notify the Owner of any defect or breakdown in the Equipment and not to permit or suffer any person other than the servants or agents of the Owner to repair or service the equipment;
- Not to or to attempt to sell, transfer, underlet, assign or part with possession of or otherwise deal with or dispose of the Equipment;
- Not to create or permit or suffer to exist over the Equipment any mortgage, charge, pledge, lien or security interest whatsoever, howsoever created or arising;
- Not to permit or suffer anything to happen whereby the Equipment may become the subject of any form of execution or distress;
- If the Owner so directs, to affix prominently onto the Equipment any label, plate or other markings stating that the Equipment is owned solely by the Owner and not to cause or permit such label, plate or marking (whether affixed by the Rentor or the Owner) at any time to be removed, obscured or defaced;
- 4.6 To comply with the provisions of any written law, rule or regulation and the regulations and requirements of any Government or public body from time to time governing or affecting the use and/or operation of the Equipment and not to do so, omit or neglect to do or suffer to be done any act or thing whereby the Equipment or its use, operation or rental would contravene any applicable law, rule or regulation for the time being in force;
- To obtain and keep afoot any permit, licence or authorisation of any Government or public body which may be necessary or desirable to enable the Rentor to rent, use and operate the Equipment and to furnish the Owner with a copy or copies thereof if so requested;
- To indemnify and hold the Owner, its servants and agents harmless from and against all liabilities, action, claims, damages, expenses, costs and demands whatsoever arising directly or indirectly in respect of the Equipment or out of its ownership, leasing, possession, use, exploitation, marketing, performance, transportation, sale or other disposal including, but not limited To Whom It May Concern: those arising in respect of or out infringement of any copyright, patent, confidential information, other rights of any third party.
- Not to make any additions or alterations to the Equipment without prior consent of the Owner;
- To keep the Equipment at the address of the Rentor shown in this Agreement and not to remove the Equipment from such premises without the prior knowledge and written consent of the Owner;
- To allow the Owner, its servants and agents from time and at all reasonable times to enter the premises where the Equipment is kept for the purposes of inspecting, servicing or maintaining the Equipment or otherwise in connection with this Agreement;Without prejudice to any other right which the Owner may have against the Rentor, to make good at the Rentor’s own cost:
- Any damage to the Equipment arising from the wilful conduct or negligence of the Rentor or any person permitted by the Rentor to use or operate the Equipment and/or misuse of the Equipment;
- Any damage to the Equipment arising from any tampering of the Equipment by any person other than the servants and agents of the Owner;
- Forthwith upon the expiration or earlier determination of the Rental Period, to deliver the Equipment to the Owner in such condition and repair as the same was delivered to the Rentor at the commencement of the Rental Period, fair wear and tear and damage due to any cause beyond the Rentor’s control (save for such damage which is not recoverable under any Policy of insurance by reason of the Rentor’s default thereunder) excepted.
- The Owner may request from the Rentor a banker’s guarantee at such value and on such terms as the Owner may require for the safe return of the Equipment upon completion of the Rental Period.
- fails to pay any Rent or any other monies payable hereunder within seven (7) days after its due date or after demand (if so payable) or to perform or observe any other of its obligations under this Agreement,
- being a company, shall go into liquidation or a receiver shall be appointed of its assets, undertaking or property or, being an individual, shall have a receiving or adjudication order made against him, or if the Rentor suffers any execution attachment or distress to be threatened, levied or issued against the Equipment, it shall constitute a repudiation by the Rentor of the Rentor’s obligations under this Agreement and at any time thereafter the Owner may serve a written notice on the Rentor determining the Rentor’s right to rent all or part of the Equipment under this Agreement.
- the Owner may without notice to the Rentor retake possession of the Equipment and for that purpose be entitled to enter upon any premises where the Equipment may be situated or believed to be situated;
- the Equipment shall cease to be in the Rentor’s possession or control with the Owner’s consent; and without prejudice to any right to damages of the Owner:
- the Rentor shall immediately pay to the Owner by way of agreed compensation for loss including, without limitation, loss of profit an amount equal to the aggregate of:
- all Rents not then due but which would have fallen to be paid hereunder (but for the determination under clause 6.a); all Rents then due but unpaid together with interest calculated in accordance with clause 7.c. hereof; all other sums due under this Agreement; and
- the Owner shall be entitled to forfeit the deposit paid under clause 3.a.
- Refund of Deposit: Upon the expiration of the Rental Period and provided that the Rentor is or shall not have seen in breach any of its obligations under this Agreement, the Owner shall forthwith refund the Deposit to the Rentor free of interest, compensation or deduction.
- Fees and expenses: The Rentor shall on demand pay to the Owner (on the basis of a full indemnity) all expenses incurred by the Owner in connection with its preservation or enforcement or attempted preservation of any of its rights under this Agreement.
- Default Interest: The Rentor shall pay interest on the daily balance of all overdue monies payable under this Agreement at the rate annum of twelve per cent (12%).
- Joint and several obligations: Where two or more persons are included in the expression the Rentor”, this Agreement shall be deemed to be made by and shall be binding upon all such persons jointly and severally.
- This Agreement is governed by and shall be construed in accordance with the laws of the Republic of Singapore.