Equipment Loan Agreement
This agreement is between owner (PURLIFE COMPANY Pte Ltd) and .
1) Terms and Condition of Loan
1.1 The owner will lend the equipment to the borrowing organisation on the terms and conditions of this agreement.
1.2 Rental cost per equipment is inclusive of GST and subjected to $100 refundable deposit per set upon the start of the leasing date.
1.3 The equipment shall be loaned from the installation date, stated in DO/Invoice:
1.4 The loan period may be extended by mutual consent of both parties for the six (6) month and three (3) month leasing scheme.
1.5 The loan period may be extended by mutual consent of both parties for all leasing schemes.
1.6 No variation or amendment of this agreement will be effective.
2) Installation and Withdraw of Equipment
2.1 The borrower must arrange a mutually convenient time to deliver and installation of equipment on the first day of the loan period.
2.2 The borrower also must arrange a mutually convenient time when withdraw and return of equipment on the last day of the loan period.
3) The Borrowing Organisations Undertakings
3.1 Keep the equipment in its possession and control and ensure that it is secure against loss, damage and theft.
3.2 Operate the equipment accordance with any operating instructions issued for it and for the purpose it was designed.
3.3 Ensure that relevant health and safety regulations are met at all times.
3.4 Any required maintenance and repair of equipment shall be performed by the owner approved personnel.
3.5 Keep the equipment in good working order, fair wear and tear excepted.
3.6 Ensure that identification marks or labels on the equipment are not removed, defaced, amended and obscured including those which identify the equipment as belonging to the owner.
3.7 The equipment will not be modified without first obtaining the owners written approval.
3.8 The equipment must only contain The Owner’s filter cartridge.
3.9 Should the borrower return the equipment before the end of the contracted lease date, deposit will be forfeited
4) Title and Risk
4.1 Title and all rights to the equipment shall at all times remain with the owner of the equipment. The borrower acknowledges that it has no right, title or property in the equipment.
4.2 The owner will have the equipment checked to ensure all equipment parts are not damage or missing fit for purpose prior to collection or withdrawing.
4.3 Risk of any loss and damage to the equipment will become the responsibility of the borrower upon it leaving the owners possession and shall not revert back to the owner until the equipment is back on the owner’s premises.
4.4 The borrower will have to bear the cost for any loss or damage parts and fitting in the equipment during the loan period.
4.5 The borrower will ensure that the equipment to be borrowed is age appropriately to its intended audience.
4.6 The owner shall not be responsible for any failure to provide services or any unavailability.
4.7 The owners will not be responsible for accident, fire, mishap or problem which may occur by the equipment.
4.8 The owner will have the rights to collect back the equipment from the borrower without any prior notice.
4.9 The borrower will need to contact a license electrician for any electrical matters (Eg. Extension of wire, trunking of wire and routing of wire).
4.10 The owner will not be liable for any fire, mishap or problem when equipment is installed by owner’s staff. All equipment is tested to be in good working condition before installation.
5) Owners Obligations
5.1 Provide the borrower with operating, maintenance and servicing instructions as appropriate.
5.2 Should there be any promotion at the time of lease, the promotion package list would be
attached to this lease agreement and form part of this agreement.