Hire Purchase Agreement Dispute
- Posted on April 10, 2021
- in Uncategorized
- by admin
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, if the option to purchase is exercised before the expiry of the period of this agreement, the Tenant is required to pay an amount equal to the purchase price of the rent or balance that must be paid in monthly installments 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 that supports the cost of the rental costs. until then expired, to be paid on the purchase price of the rental. 6. If the tenant does not pay a monthly rental fee on the due date, the tenant is required to pay interest of ……. to pay. From the date of delay to payment per year. However, this applies without prejudice to the company`s right to terminate the contract due to a delay in payment of monthly payments, as provided below. 8.3 In the event of an infringement by the seller, the buyer has the right to apply the remedies provided by the legal acts (including the law of obligations). If the seller violates the contract, the buyer has no right to refuse to perform his obligations to the postman, unless the circumstances that are made mandatory by legal acts.
If the purchaser has the right to terminate the benefit contract entered into for the execution of current or recurring transactions, the purchaser is required to continue payment for services provided prior to termination, but is not required to pay, after the revocation of the contract, for services that have not yet been provided by the seller and has the right to require the factor (as the seller`s representative) to terminate the last repayments. of the contract and payment plan, up to the value of the services not yet provided, with the seller required to deduct the cost of delivering the service.