Terms & Conditions

 

The parties to this agreement are the lessor and the lessee where RentoPay is the lessor & the customer is the lessee. The terms of the rental agreement are as follows:

The conditions of rent let out here are stated below, together with the Agreement as set forth on the reverse side of this sheet, constitute a contract between the parties therein named which contract is hereinafter referred to as "this Agreement” The parties to this agreement are the lessor and the lessee, where RentoPay will lend the services of providing product/furniture/appliance as mentioned in the order details on monthly rental basis, is the Lessor & the customer accepting the services of Lessor for providing the product/furniture/appliance on monthly rental basis is the Lessee. The terms of the rental agreement are as follows:

TERM

This Agreement shall commence on the date the products (more fully set out in the Schedule) ( "Product(s)”) are delivered to the Customer and remain in full force and effect until the fixed period [equivalent to the tenure of the contract that is agreed by the Customer while booking the Product(s)] expires and the Products is returned to RentoPay, unless terminated earlier or extended pursuant to the flexi tenure policy.

PAYMENT POLICY

The invoice shall be raised by RentoPay on the 1st day of every month and the due date for payment shall be the 10th day of the month. Customer shall pay the rental charge as per the invoice raised and mailed to the Customer’s registered e-mail address. Payment made beyond the Due Date shall incur a late fee. Late fees shall be levied on the rental due amount only. The late fees shall be applied three times each month; 10% on the 11th day of the month, another 5% on the 18th day of the month and another 5% on 25th day of the month, the late fees shall be applied only on the pending amount. In case the Products are delivered any time during the month, the first month shall be calculated on a pro-rata basis from the date of delivery until the last day of the first month.

The Customer shall make all payments to RentoPay only. RentoPay shall not be liable for any payment made to any broker/third party by the Customer. RentoPay reserves the right to share information with credit rating agencies pursuant to Clause 15 of this Agreement. The Customer hereby agrees that non- payment of rental dues, late fees, asset value leased and any other non-payment, may affect the credit rating of the Customer and RentoPay shall not be liable for any claim from the Customer for sharing such information with credit rating agencies.

In the event, the Customer does not make payments to RentoPay and/or does not return the Products and is not traceable, in addition to any other right of RentoPay, the Customer agrees that RentoPay shall have the right to reach out to the Customer’s relatives, friends, employer, offices and shall inform them about the Customer’s default. The Customer hereby agrees that, RentoPay shall not be liable for any inconvenience or loss caused to the Customer for such action by RentoPay

SECURITY DEPOSIT

In addition to the monthly rental, the Customer shall pay a refundable security deposit. The Security Deposit shall not carry any interest for the entire tenure. The Security Deposit shall be refunded to the Customer on the termination and after taking delivery of all the Products from the possession of the Customer. Once the final quality check is performed on all the Products, and the settlement amount is confirmed, we'll initiate the refund process and Customer will receive it in their source account within 7-10 working days. RentoPay shall refund the Security Deposit to the account from which initial the Security Deposit was paid by the Customer, in case the Customer wishes to get the refund to any other account, the Customer shall provide the details of the account to RentoPay via e-mail from the registered e-mail address of the Customer and/or upload the account details on the dashboard available on the RentoPay website, prior to the pick up of the Products. The same account details shall be confirmed at the time of the reverse pick up of the Products.

In case any damage is found in any Product, RentoPay shall have the right to deduct the charges for the damages or monthly dues from the Security Deposit paid by the Customer and shall refund the remaining amount to the Customer. In case of default in the payment of monthly rentals (including late fee), RentoPay shall have the right to deduct such rental dues from the Security Deposit and may at its sole discretion refund or forfeit the remaining balance of the Security Deposit. The Security Deposit shall not include any monthly rental. The Customer cannot request for the monthly invoice dues to be adjusted from the Security Deposit.

ORDER CONFIRMATION

On receipt of the order and the Security Deposit, RentoPay shall confirm the order with the Customer by sending a confirmation to the registered e-mail address of the Customer. In the event, any product selected by the Customer is unavailable, RentoPay shall inform the same to the Customer. RentoPay reserves the right to replace any product selected by the Customer in the event of unavailability. The Customer shall be provided with an option to either accept or deny such substitution at the time of confirming the order. Mere payment of the Security Deposit shall not be considered as the valid contract. In the event, the Customer does not accept the substitute Product, RentoPay shall refund the Security Deposit paid by the Customer as per Clause 4 of this Agreement.

The order raised by the Customer shall be processed subject to successful verification of the KYC and serviceability of the Customer location as per RentoPay Policy. In case the KYC verification is not successful, or the location is not serviceable by RentoPay, RentoPay reserves the right to reject the Customer’s order any time prior to delivery, at its sole discretion without assigning any reason even after successful KYC or serviceability of the location. In the event the order is rejected by RentoPay, the Security Deposit paid by the Customer shall be refunded to the Customer as per Clause 4 of this Agreement.

DELIVERY POLICY

On confirmation of the order by the Customer, RentoPay shall deliver the Products to the location specified by the Customer. The cost of the delivery shall be borne by RentoPay. The Customer shall be present at the location at the time of delivery agreed between RentoPay and the Customer. In case the Customer is unavailable at the time of delivery the Customer shall appoint a representative (give an authorization letter) for taking delivery of the Products and the same shall be communicated to RentoPay prior to the delivery. The representative shall provide a copy of his/her ID proof and authorization letter from the Customer to the delivery personnel assigned by RentoPay. In case the Customer is not present or has not assigned a representative for taking delivery, at the location and a second delivery attempt is required, RentoPay shall charge an extra delivery cost to the Customer.

RentoPay shall inspect the quality and ensure that the Products are working and in usable condition before the delivery of the Products to the Customer. The Customer or its appointed representative shall inspect the Products for any damage and quality during the time of delivery. In case any Product is damaged during transit or unfit for use, RentoPay shall replace the same at its own cost and in case a replacement is not required, such damage shall be noted in the delivery receipt and a photo of the same shall be taken for record. In case any claim of damage is brought against the Product after the acceptance of delivery by the Customer, RentoPay shall not be responsible towards replacing the Product and shall levy a damage to be ascertained as per the damage policy below.

The Customer shall ensure the entry of delivery vehicle inside the premises where the delivery location is situated and ensure that prior permission is obtained for the use of elevator of the building, for delivery of the Products to the location.

DAMAGE POLICY

The Customer hereby agrees that any damage caused to the Product or theft (including disappearance) or loss, shall be liable towards repair and replacement cost of the Product. In the event, the Product is stolen or damaged beyond repair, the Customer shall be liable to pay RentoPay the market price of the Product. Minor scratches and chipping (depending on size) to wooden furniture shall be considered as normal wear and tear. The extent of damage will be ascertained by comparing against the quality control document signed by the Customer and the photographs taken on delivery and return pickup day.

RentoPay shall ascertain the extent of the damage and applicable penalty for such damage on the receipt of the Products from the Customer. In the event, it is found that in any Product, any substandard parts are used, or repair carried out by any person not authorized by RentoPay, then a penalty may be levied as per the policy of RentoPay. Any removal, alteration, disfiguring or cover up any numbers, lettering, or insignia displayed on any Product shall be considered as a damage to the Product and shall be chargeable against the Customer. A damage claim report shall be sent to the Customer’s registered e-mail address.

A quality check report stating the damages if any or a clearance sheet will be created and a copy of the same will be provided to the Customer immediately

MAINTENANCE POLICY

RentoPay shall provide maintenance of the Products delivered to the Customer, for the entire duration of the Agreement or on request from the Customer. The periodic maintenance shall not include any damage or breakdown due to mishandling by the Customer. RentoPay shall carry out the maintenance/repair of the Product within 3-5 working days after the request has been raised by the Customer. In the event, the issue is not resolved during repair, RentoPay shall provide a replacement for the Product. Any additional cost incurred by RentoPay during the maintenance and cleaning due to damages shall be borne solely and paid by the Customer, either via online payment or as advised by RentoPay service representative.

TERMINATION

In the event, the Customer does not wish to extend the rental period beyond the Agreement date, the Agreement shall terminate on last day of the rental term.

  1. default of payment of rental dues or any other payment dues by the Customer
  2. breach of any of the terms of this Agreement
  3. at its sole discretion by providing 30 days’ notice to the Customer.
Consequences of termination:
  1. RentoPay shall have the right to take possession of the Products delivered to the Customer immediately;
  2. Any payment pending from the Customer shall become payable immediately to RentoPay.
  3. The Security Deposit paid by the Customer shall be refunded to the Customer post the damage assessment of the Products, as per clause 4 of this Agreement.
  4. In case of termination due to non-payment of rental dues, the Security Deposit refund shall be determined subject to clause 4 of this Agreement.

RELOCATION

In case the Customer wishes to relocate or remove the Product(s) from the registered address, a request shall be made to RentoPay 2 (two) weeks prior to the date the Customer wishes to relocate the Product along with the address proof of the new address. Once the request is raised, RentoPay shall remove or relocate the Product through its personnel only as per the mutually decided date with the Customer. Relocation shall be subject to successful verification of the KYC of the Customer’s new address and serviceability of the new location. In the event, the location is not serviceable by RentoPay, the same shall be treated as early closure of the Agreement as per the Flexi Tenure Policy and the rental dues shall be payable as per the Flexi Tenure Policy.

OWNERSHIP OF PRODUCTS

RentoPay and / or its business partners shall at all times during the term of this Agreement, retain title to and / or be the beneficial owners of the Products delivered to the Customer, pursuant to the Agreement. Nothing in this Agreement shall be construed as a transfer of ownership of the Products to the Customer. The Customer shall give immediate notice to RentoPay if any of the Product is about to become liable or is threatened with seizure and the Customer shall indemnify RentoPay against all loss and damage caused by such action against its Products.

LIMITATION OF LIABILITY

NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT RentoPay’S TOTAL LIABILITY TO CUSTOMER SHALL NOT EXCEED THE TOTAL AMOUNT OF 1 (ONE) MONTH RENT.

ENTIRE AGREEMENT

This Agreement (together with the Annexure) constitutes the entire agreement between RentoPay and the Customer. The acceptance of this Agreement also signifies the acceptance of the Customer, to the terms and conditions on the RentoPay website (including privacy policy).

DISCLAIMER

ABCOM Pvt. Ltd. reserves the right to cancel any orders completely or partially before delivery without prior information & in such scenarios, we'll initiate the refund process for the deposit amount and the Customer will receive it in their source account within 7-10 working days.

Any current/future orders placed by the Customer has no connection with any of his/her previous orders.