Hire Purchase Agreement Questions

Everything you purchase under a lease agreement must be and must comply with the Goods and Services Act 1980. The ownership or ownership of the company on these machines and installations is not affected during the term of this contract and the tenant is considered the Bailee, with all the obligations and obligations of a baileee in law, until the tenant exercises his purchase option, which are provided below. 1.6 The cost of goods is the purchase price of the goods, plus the VAT levied by the VAT Act. 1.15 An ancillary contract means a contract that is or is to be concluded between the seller and/or factor and the buyer or seller and/or factor and a third party (party) in order to ensure that the buyer`s obligations under the contract are duly complied with (including a pledge, a guarantee and/or guarantee contract). (i) the agreed value of two investments withdrawn by the lease seller. 12. The lessee must, on behalf of the company, maintain the machinery and equipment in question insured with any recognized insurance company and regularly pay the premium on the due date and in number. The insurance policy is given to the company and the tenant must, from time to time, provide the company with proof of the premium or provide an actual copy or Xerox to the company. If the lessee does not guarantee such machinery and installations or does not pay the premium at any time, the company has the right to insure (without prejudice to its other rights under this agreement) the same or to pay the premium, as the case may be, and the costs incurred by the company are paid by the tenant to the company if required.

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