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Termination Of Hire-Purchase Agreement Pdf

25. The tenant has the opportunity to acquire these machines and equipment, and the option is exercised by notifying 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 machines and equipment referred to in the point (3), reduced by the total amount of payments up to that date or the higher rupee. In the latter case, that is, if the option to purchase is exercised before the term of the contract expires, the tenant is required to pay an amount equal to the purchase price of the rent or the balance of the rent, payable in monthly increments of the rental costs up to the date of the agreed term of the contract, since it is reduced by a discount corresponding to two thirds of an amount corresponding to the rental costs. the same share as the balance of the rental sale price that has not been due until now applies to the purchase price of the lease. Among the plans to use a lease are: 19. This agreement is considered to have started from the date of this agreement and remains for a period of… years from the date on which the … and (unless the tenant exercises the option to purchase as intended below), at the end of the aforementioned period or the previous termination of the latter, as is the following, provided that the tenant gives the machines and equipment mentioned in good condition at his expense at the place of activity of the company or as indicated by the company, provided that the tenant remains required to : to pay the rental costs until these machines and equipment are actually delivered to the company or taken over by the company. 23. In the event of termination of this contract by termination in due course or previously by the company or tenant, or by any other means, as stated above, the company is required to pay the tenant the amount of the down payment less than the amounts that the tenant must pay to the company for the rental costs or by other means and the expenses to be paid or paid to the tenant with respect to these gifts to reimburse and reimburse not to pay by him.

In this case, the tenant had obtained financing for a car from GE Money in 2008 when rent was purchased, but had to terminate the contract in 2009 when she experienced financial difficulties. In collaboration with her local money and budget consulting service, she wrote to GE Money about her intention to terminate the contract and tried to return the car. However, the company refused to refund the car until half of the rental price had been paid, arguing that section 63 meant that compensation must be paid in advance as a precondition for termination of the contract.