Agreement For Hire
THIS AGREEMENT is made on...... this..... day
of..... between Mr. A carrying on business at... hereinafter referred to as
'the Owner' of the One Part and Mr. B residing at......... hereinafter referred
to as 'the Hirer' of the Other Part.
WHEREAS the Owner is carrying on business of
dealing in furniture and has its office and showroom at (details of address)
AND WHEREAS the Hirer has agreed to take on hire
some pieces of furniture for furnishing his newly purchased and occupied Flat
at (address) and which the Owner has agreed to give on hire to the Hirer on the
following terms and conditions.
NOW IT IS AGREED BETWEEN THE PARTIES HERETO AS
FOLLOWS: -
1. The Owner agrees to give on hire and the Hirer agrees to take on
hire the items of furniture which are mentioned in the Schedule hereunder
written for a period of........ years (or as long as the Hirer desires). The
said furniture has been delivered by the Owner to the Hirer and the latter
acknowledges receipt thereof.
2. The Hirer agrees to pay to the Owner by way of hire charges a sum
of Rs.... as the lump-sum amount for all the Items of furniture mentioned in
the Schedule annexed herewith for the payment of each month.
3. The said charges will be paid by the Hirer to the Owner in advance
on the 5th day of each month hereafter during the period the hire continues.
The proportionate hire charge for the current month has been paid by the Hirer
on the execution of this agreement.
4. The hire charges will be paid by the Hirer as aforesaid at the
place of business of the Owner aforementioned punctually on or before the fifth
day of each month as before mentioned.
5. The Hirer covenants with the Owner that;
a. He will make payment of the hire charges every month punctually as
aforesaid.
b. If there is default in payment of any instalment on the due date,
the Hirer will pay interest on the amount of each monthly charge at the rate of
Rs. 0.5% per month for the days of delay. This provision is without prejudice
to the right of the Owner to take any other action for breach of the covenant
as herein provided.
c. He will not remove the said items of furniture or any of them from
the said flat in which the Hirer is at present residing without the written
consent of the Owner.
d. He will maintain the said furniture in good condition, subject to
normal wear and tear. If any damage is done to any of the said items of
furniture he will make it good by carrying out repairs through the Owner and he
will pay the repair charges to the owner separately.
e. If any of the said items is stolen or otherwise lost or destroyed
or damaged beyond repairs, the Hirer will pay the price thereof as per the
Owner's catalogue of prices then prevailing or In force, irrespective of
whether the Hirer is or is not responsible for such loss, destruction or
damage. If the loss or destruction or damage occurs, the Hirer will make it
known to the Owner in writing immediately after such loss or damage. Subject to
payment of the amount of loss or damage by the Hirer, the Owner will either
substitute the lost or damaged item or will reduce the Hire-charges
proportionately.
f. He will allow the Owner or his authorised agent to inspect the
said furniture as and when required once every month any day.
g. He will not part with possession of the furniture or any item in
favour of any other person. He will not sell, hypothecate or pledge the said
furniture or any item thereof.
6. The property in the said furniture will always remain with the
Owner, and the Hirer will hold the same as a bailee.
7. The Owner is not liable for any defects in the said furniture or
any item thereof and the Hirer has taken inspection thereof and is satisfied
with the condition thereof.
8. The Hirer will not do any act or omit to do any act by which the
right of the Owner to the said furniture will be prejudiced.
9. If the Hirer does not want to continue the hire he will give at
least fifteen days' notice to that effect to the Owner and on the expiration of
the said period mentioned in the notice, this agreement will stand terminated.
10. If the Hirer commits
breach of any term or covenant contained in this agreement, the Owner will be
entitled to terminate this agreement by fifteen days' prior notice and on the
expiration of the said period this agreement will stand terminated.
11. If this agreement is
terminated by the Hirer or the Owner as aforesaid or by efflux of time or
duration of this agreement as aforesaid, the Hirer shall at his own costs,
return the said furniture forthwith. If he fails to do so, within eight days
from the termination, he will be liable to pay to the Owner a sum of Rs.......
being the present price of the furniture together with all other amounts
payable by him to the Owner under any of the provisions of this agreement. This
is without prejudice to the right of the Owner to take back possession of such
furniture by due process of law.
12. The termination of this
agreement for any reason will not prejudice or affect the right of the Owner to
recover from the Hirer any amount payable by him to the Owner by virtue of this
agreement.
IN WITNESS WHEREOF the parties have put their
respective hands the day and year first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO
List of furniture.
Signed and delivered
by the within named Owner... in the presence of...
Signed and delivered by the within named
Hirer... in the presence of...
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