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
Rentow provides its Customers, an option to opt for flexibletenure for early closure and/or extension of the term of the Agreement. In case of early closure, the Customer can request for closing the order by informing Rentow, any time prior to the date the Customer wishes to close the order. Rento provides its Customer with different monthly rental rates depending on the tenure of the Agreement at the time of order placement. In the event of early closure, the Customer shall be liable to pay the early closure charges which shall be calculated for detailed break up) based on the tenure selected by the Customer.
For extension of the term beyond the Agreement tenure by the Customer, the monthly rate applicable at the time of extension shall be followed for calculation of rental amount for the extension period. Any extension or early closure shall be done only through the
The invoice shall be raised by Rentow on the 1st day of every month and the due date for payment shall be the 10th day of the month (“Due Date”). 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 fee of 10% shall be applied on the 11th day of the month on the pending amount. In case the Products are delivered anytime 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 month on the pending amount. In case the Products are delivered anytime 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
In addition to the monthly rental, the Customer shall pay a refundable security deposit (“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.