Assignment
rentfromhome.com is owned & operated by Veritas Instrument Rental Incorporated and (along with any affiliated retailer) shall herein be referred to as Veritas, VIR and/or Agent, and the customer shall herein be referred to as Renter. By completing the Online Equipment Rental Agreement, the Renter agrees (i) the information provided is their own (the applicant is the Renter), (ii) to use their Social Security Number or Date of Birth as their unique and binding digital signature, (iii) and authorizes Veritas to acquire the Renter’s credit report, if/when necessary.
Rental Purchase Option
At the option of the Renter, by notice in writing, all rental monies, excluding any M&R or A&R fee and sales tax, can be applied to the purchase of the instrument. No credit will be given towards the purchase option for any payments received more than (5) five days late without late fee. Any factory warranty remaining on a new instrument will pass to the Renter at the time of final payment. All fees are to be paid in advance. There is no pre-payment penalty. Renter can purchase the instrument at any time. The instrument purchase price can be determined by taking the “Lease Purchase Price” and subtracting the “Base Rent x months paid” and then subtracting the early payoff discount (varies by market) for early payoff. Sales tax will then be added.
Cancellation of Agreement
This is a month-to-month equipment rental agreement. The Renter may return the instrument to Veritas and/or Agent at any time. This agreement will be canceled, provided all fees have been paid up to and including date of return. No refund of money will be made if the instrument is returned, as all money received shall be considered rent until full payment is made.
Return of Property
The Renter is solely responsible for the return of the instrument to Veritas and/or Agent. No other party is permitted to accept the return of the instrument (unless prior approval is given by Veritas in writing). If return-shipping the instrument, the Renter agrees to make a reasonable effort in preparing the instrument for transit. Veritas will provide a shipping box, packing materials and/or a return-shipping label upon request by calling 800-578-9724. The Renter will be responsible for damages caused by gross neglect and/or inadequate shipping preparation.
Title
Veritas is to retain full title and ownership of equipment until full payment has been made and Renter agrees not to sell, sublease, mortgage, pawn, pledge, encumber, remove from the state, or otherwise dispose of equipment until all payments stated in this contract have been made. Veritas may assign this agreement. This agreement and/or equipment is not transferable by Renter.
Late Charge
The instrument remains the property of Veritas until the purchase option has been exercised. If any payment is more than five (5) days late (or minimum number of days permitted by law), Veritas may charge an amount equal to $10 (or maximum allowable by law), plus reasonable collection and attorney’s fees (to the extent permitted by applicable law). Automatic drafts returned for insufficient funds will be debited back to the Renter’s account plus a return check fee of $25.00 (or such lower amount as may be established by applicable law).
Default
A. Veritas can declare an “event of default” of this agreement if (i) Renter fails to pay a scheduled rental payment and late charge within 10 days after the due date of the rental payment. (ii) Renter breaches a promise/obligation under this agreement, (iii) Renter filed misleading or inaccurate information on this agreement, or (iv) anything happens that Veritas feels endangers the equipment in Renter’s possession.
B. If Veritas declares an “event of default”, Veritas shall be entitled to repossess the equipment in accordance with State and Federal law. If Veritas does take possession of the equipment, it is agreed that this contract shall end, and the Renter shall have no further responsibility for further payments, but shall remain liable for past due payments, M&R or A&R charges (if applicable), late charges, (if any) and for any loss or damage which may have occurred to the equipment that are not covered by M&R. A 1.5% monthly (18% annually) service charge will be added to all balances carried over 30 days. Renter is also liable for any reasonable attorney and/or collection fees and all related costs necessary to remit the entire balance to Veritas and/or recover the equipment.
C. If Veritas declares an “event of default”, the equipment must be returned to Veritas and/or Agent within 24 hours (weekends and holidays excluded) or equipment will be subject to repossession. Failure to return rented equipment to Veritas and/or Agent at their request in the event of default, may, under the laws of this state, constitute theft, which is a felony punishable by fine or imprisonment.
Credit Card Authorization and Returned Checks If Renter is more than ten (10) days late in paying any sums due under this agreement, Renter hereby authorizes Veritas to submit a credit card voucher in Renter's name for payment of any sums due under this agreement, to include remaining balance of purchase price less credit for previous rent paid, should equipment not be returned to Veritas and/or Agent upon demand. If Renter's check is returned unpaid, Renter hereby authorizes his/her account to be electronically debited for both the check amount and state-allowed return fee.
Reinstatement
Renter who fails to make timely rental payments has the right to reinstate the original equipment rental agreement without losing any rights or options previously acquired under the equipment rental agreement if the Renter promptly surrenders the equipment to either Veritas and/or Agent upon request. Renter has 90 days to request reinstatement. Before Reinstatement, it is necessary to pay all rental payments, M&R, A&R, late charges, and a delivery charge, if any. If at time of reinstatement, the original equipment is not available, equipment of equal quality will be substituted.
Credit Report Authorization
Renter authorizes Veritas to obtain a personal credit report. This equipment rental agreement is subject to approval within 30 days. Renter authorizes Veritas to contact spouse, student, and/or nearest relative regarding this agreement if past due. If paid, the security deposit (if any) will be returned to renter within thirty days less any deductions for excessive damage, missing items, past-due rent, and/or late fees.
Hygienic Condition of Rental Equipment
Renter agrees not to hold Veritas and/or Agent responsible for the hygienic condition of rental equipment (including mouthpiece).
Responsibility for Loss, Damage and/or Maintenance
Renter is responsible and liable for all costs incurred by Veritas in the event of loss or damage to rented equipment for other than ordinary wear and tear. In the event of loss or theft of rented equipment, Renter will pay the purchase price Lease Purchase Price, plus tax, less any applicable rent payments to Veritas upon demand. Such liability will not exceed the cash price of the property at the time it is lost or damaged. No insurance is provided by Veritas for liability arising from Renter’s use and operation of rented equipment.
Entire Agreement/Time is of the Essence
This rental agreement constitutes the entire agreement between Renter and Veritas, and shall not be amended, altered, or changed except by thirty days (30) written notice from Veritas. Time is of the essence. All payments are due and equipment returnable to Veritas and/or Agent.
Consent to Jurisdiction & Forum Selection
The parties hereto agree that all actions or proceedings arising in connection with this Agreement shall be tried and litigated exclusively in the State and Federal courts located in the County of Pinellas, State of Florida. Each party hereby waives any right it may have to assert the doctrine of forum non conveniens or similar doctrine or to object to venue with respect to any proceeding brought in accordance with this paragraph, and stipulates that the State and Federal courts located in the County of Pinellas, State of Florida shall have in personam jurisdiction and venue over each of them for the purpose of litigating any dispute, controversy, or proceeding arising out of or related to this Agreement. Any final judgment rendered against a party in any action or proceeding shall be conclusive as to the subject of such final judgment and may be enforced in other jurisdictions in any manner provided by law.
Maintenance & Replacement Coverage (M&R)
In the event the rented instrument is damaged or in need of repair, the renter will bring the instrument to their assigned VIR Affiliated Retailer & Authorized Service Center or will be instructed to complete a Return Authorization (RA) Form and ship the instrument directly to Veritas. Upon receiving the returned instrument, and when the rental account current & in good standing, Veritas will exchange the instrument with one of equal quality & condition. The Renter may elect (by indication on RA Form) to have Veritas repair & return ship the original instrument. By electing this latter option, the Renter understands shop time varies and there could be significant wait time (when compared to exchanging the instrument). Renter further understands the account must stay current (timely payments) even when the instrument is in need of service, repair or replacement.
The Renter will be held liable for the repair or replacement of the rented instrument caused by willful damage, damage due to careless handling or unauthorized repairs. M&R does not cover cleanings or the replacement of expendable accessories such as mouthpieces (broken or lost), ligatures, mouthpiece caps, reeds, oil, swabs, strings, rosin, drumheads, drum sticks, etc..
If the equipment is damaged beyond repair or stolen by forcible entry, Veritas will replace it with one of equal quality & condition for a deductible charge of $50.00 or 20% of the instrument’s retail value (whichever is greater). Proof of loss and circumstances satisfactory to Veritas will be required. For M&R coverage, the rental account must be current and the renter must file a police report within 24 hours and notify Veritas within 48 hours.
NOTICE
You are renting this property. You will not own it until you make all of the regularly scheduled payments or you use the early purchase option. You do not have the right to keep the property if you do not make the required payments or do not use the early purchase option. Subject to your grace periods and reinstatement rights, the lessor (Veritas and/or Agent) may repossess the property if you fail to make rental payments as scheduled. Your rights and responsibilities are fully explained in this equipment rental agreement.
