Terms of Hire
The hire charges are invoiced to the Customer quarterly in advance.
Initial payment is due immediately upon delivery of the machine and includes carriage costs. Thereafter invoices will be rendered monthly, quarterly or annually and are payable by standing order or via BACS payment.
The equipment is at your risk from delivery until we recover it and you must insure the machine for its full replacement value, (full value of rental contract) as set out in the Agreement. Any monies due from the Insurers as a result of loss or damage to the Machine are to be paid direct by the Insurers to LoBact.
The Hirer must have adequate Public Liability insurance to cover all claims arising from the operation or siting of the Machine at the Hirer’s premises and immediately inform LoBact of any claim.
Obtain the written authority of LoBact before moving the Machine within the site or from site.
You may only operate the Machine with trained personnel in a responsible manner following the manufacturer’s operating instructions and in accordance with the requirements of the Health & Safety at Work Act 1974 and regulations made under the Act. We will not be responsible for any loss or damage or accidents caused by negligent or unsafe use.
All damage to the equipment must be reported to the Hirer within one working day. Repairs needed due to accidents, misuse, malicious damage or frivolous call outs will be charged at the current service rates.
Upon Completion of Hire
This agreement shall terminate at the end of the minimum period provided that one of the parties has served not less than three months’ notice of termination on the other, expiring on the last day of the minimum period. If no such notice is served, this agreement shall automatically be extended for a further period equal to the minimum period and it shall continue to be automatically extended for further such periods until terminated by service of not less than three months’ notice by one party on the other to expire on the last day of any such extension period.
Any notice required to be given as above shall be delivered by hand or pre-paid 1st class recorded delivery post to the address of the relevant party set out in the agreement.
A notice delivered by hand shall be deemed served at the time of delivery and a notice served by pre-paid 1st class recorded delivery post will be deemed served on the second working day following the date of posting (provided that Saturday, Sunday and English Bank Holidays shall not be working days).
Termination or Default of Agreement
The Hirer will be in default under this Agreement if either payments or terms are breached. Default entitles LoBact to terminate this agreement immediately.
This Agreement will terminate automatically if any of the following events occur in relation to the Hirer:
Liquidation (except voluntary liquidation for the purpose of amalgamation on terms previously agreed in writing by LoBact), appointment of an administrator or administrative receiver; petition for bankruptcy; or (only applicable in Scotland) apparent insolvency.
The Machine must be returned to a place chosen by LoBact at the Hirer’s expense. If not, LoBact will be entitled to re-possess it. LoBact will then be entitled to enter any place where the Machine may be for the purpose of such repossession. Payment in full will immediately become due for any remaining fixed period of the agreement by way of liquidated damages for the Hirer’s breach of this agreement. Interest, calculated on a day basis at 10% over Lloyds Bank base rate will be added to all unpaid sums form the date they are due, to the date they are paid; and whether before or after any court judgement. The Hirer will also pay any costs incurred by LoBact in recovering the machine.
If ownership of the building changes at any time, contractual obligations in this contract automatically will be transferred to the new owner.
Exclusion of Our Liability
We are neither liable for latedelivery of the equipment nor for any consequential loss, loss of business and/or profit which may suffer as a result of any breach of our obligations under this agreement.
This written Agreement is the whole Agreement regulating the rights and liabilities between us, in relation to the equipment and its hiring. Any other statement or matter will only be binding on us if it is in writing and has been signed by a Director of LoBact.