Rental Agreement

DRAFT

Rental Agreement

Between

 1.  Owner:

Last Name, First Name/Company Name, Company Number/ and/or Company Representative

……………………………………………………………………………………………………

……………………………………………………………………………………………………

Address ………………………………………………………………………………………

CNIC No.: ………………………………………….

NTN No. ……………………………………………

STRN No. ………………………………………….

 

AND

 

2.  Renter:

Last Name, First Name/Company Name, Company Number/ and/or Company Representative

……………………………………………………………………………………………………

……………………………………………………………………………………………………

Address ………………………………………………………………………………………

CNIC No.: ………………………………………….

NTN No. ……………………………………………

STRN No. ………………………………………….

 

THE PARTIES AGREE TO THE FOLLOWING:

 

The above parties made contact with each other using the website “Erent.pk”, owned by the company, Erent.pk, however, is not a party to this contract, either explicitly, or implicitly, and does not provide any services directly or indirectly through this agreement. Erent.pk does not verify the credentials of the Owners, the Renters, or the quality of the Items for Rent. Therefore, the parties to this agreement accept that they cannot hold Erent.pk liable, either directly or indirectly, to any loss resulting from making and/or carrying out this agreement.

Erent.pk does not itself offer any rental services. The site is an online marketplace only, designed for the unique purpose of putting people who want to rent things in touch with people who have things to rent. Erent.pk never intervenes in the transaction between the Renter and the Owner. Erent.pk cannot thus be considered part of the Rental Agreement between members of the Site.

Erent.pk exercises no control over the quality, safety or legality of Items listed, or over the truthfulness or accuracy of the Rental Listings, or over the ability of Owners to rent the Items listed or over the ability of Renters to rent or pay for the rental of any Items. We do not guarantee that the Parties will complete any or all terms of the transaction.

Any security deposits or guarantees required by the Owner in whatever form, remains the sole responsibility of the Renter and Owner. Erent.pk is not responsible for the collection, retention, or refunding of any security deposit, for the control of the exact identity of the Owner and the Renter, or for collecting money owed by the Renter to the Owner or by the Owner to the Renter.

 

Article1. Definitions

“Owner”: Owner or custodian of the Item being rented.
“Renter”: The Party who is renting the Item pursuant to this contract.
“Item”: The Item rented out as described in articles 2 and 3.

 

Article 2.  Items

The Owner rents out to the Renter who accepts the following Item:

.........................................................................................................................

.........................................................................................................................

Additional Information about the Item (make, origin, specifications, age, serial number, type, special characteristics, estimated value of the item, etc.):
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Article 3.  Condition of the Items

External appearance, condition of components, operation of the Item as well as any following guarantees given between the parties (e.g : “I confirm that a month ago I replaced the timing belt of this car"):

..........................................................................................................................
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..........................................................................................................................
..........................................................................................................................
..........................................................................................................................
..........................................................................................................................
..........................................................................................................................

In the event that guarantees that are provided, turn out to be inaccurate, the Owner forfeits the right to invoke those clauses relating to damage that the Renter has caused to the Item rented, unless the damage in question has no direct link to the inaccuracy of the Owner’s statements.

 

Article 4.  Intention – Lending – Sub-letting

The Renter can neither lend nor sub-let the Item without the Owner’s express written authorization.

The Renter agrees not to use the Item for any illegal purposes or in a manner that is contrary to its intended use, or moral and social standards.

 

Article 5. Duration of Rental

This rental contract is agreed upon a length of .................................................................. day/week/month(s)

This period starts on the day............................dated...................................... at…………………… a.m./p.m. And ends on the date.................................................................. at…………………………a.m./p.m.

 

Article 6. Cost of Rental

For this complete rental contract duration, the Renter pays the Owner a sum of Rs.................................................................. (this price includes any applicable taxes), of which has to be deducted the amount of .................................................................. corresponding to the retainer.

OR

For this complete rental contract duration, the Renter pays the Owner a sum of Rs.................................................................. (this price excludes any applicable taxes), all tax amount to be charged by renter accordingly that will be showed on bill.

This sum is payable upon signing of this contract, and must be paid in advance or at the latest, by the beginning of the rental period.

At the end of the contract, in the event that the Item is returned late, the Renter shall pay the Owner a further sum equivalent to ___% of the total cost of the rental, plus the cost of renting the Item, for each additional period until the Item is returned.

The rental cost of the Item includes or excludes any applicable transport fees.

Except for any condition contrary to Article 11, the rental cost does not include any consumable supplies (for example: ink cartridges, petrol, etc.). The Owner can supply these for the following prices:

Consumable particulars……………….

Price Per Unit ………………………

Quantity ………………………..

 

Article 7. Security Deposit

At the start of the rental period, the Renter agrees to pay the Owner a security deposit of: ..............................................................................................................................
..............................................................................................................................
..............................................................................................................................
..............................................................................................................................
..............................................................................................................................
(Write this sum in both letters and figures.) This deposit guarantee will be reimbursed in full upon return of the Item to the Owner, deductions having been made for any consumable supplies that were used – as determined by their usual prices listed above – and deductions made if Article 8 applies in relation to possible damage incurred.

 

Article 8. Maintenance, Damage and Theft

  1. The Renter will use, maintain and take care of the Item in a careful and responsible manner.

 

  1. The Renter will be held liable for any damages he/she causes to the rented Item. His/her liability will not exceed the potential residual value of the Item, as defined in good faith or contractually.

 

  1. In the event of the Renter not returning the rented Item, he/she will be liable to pay the Owner the residual value of the Item as contractually defined in Article 2. In order to cover some of the repossession costs, an increase in the overall payment equal to 10% of the rental (excluding tax) is required, as well as late payment interest at the legal rate, taking effect 30 days after the Owner has given formal notice. In the event that the Owner defaults upon his/her obligations, the Renter is authorised to claim similar compensation.

 

  1. In the event that the Renter returns the Item in a bad and/or poorly maintained condition (which cannot be described as the result normal rental use), requiring special cleaning or attention (e.g. dry cleaning of an item of clothing), the Renter will be liable to pay the cost of cleaning or potential maintenance carried out by a professional specialist. This service provider will be chosen by the Renter within a period of 10 working days, or, if need be, after formal notice is given by the Owner.

 

Article 9. Liability

The Renter states that he/she has, and is presumed to have, all the information and skills necessary for careful and normal use of the rented Item; it is his/her responsibility to supplement his/her knowledge if necessary.

Similarly, he/she states that he/she has the authorization, licenses and legal capacity to have or use the Item.

The Renter is the sole custodian of the Item during the Rental Contract, he/she undertakes as such to exercise effective and exclusive control of the Item.

The Renter is therefore the sole person responsible, apart from the Owner, for any damage that the Item could cause to the Renter or a third party.

The Renter expressly recognizes that he/she is the custodian of the Item rented for the full duration of the contract and, should the case arise, beyond this time, until the return of the Item to the Owner is accomplished

Consequently, the Owner assumes no liability during the rental period for the Item rented, in particular regarding its incorrect, imprudent or illegal use.

 

Article 10. Juridical Assignment

In the event of litigation, the court at …………………………………………………………… will jurisdiction and venue.

 

Article 11. Additional Provisions and Comments

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Contract made at ……………………… in 2 copies

 

 

Date: ………………………

  

…………………………                                                                                         …………………………

The Renter                                                                                                       The Owner

                                                                       

 

 Note for Rent Safely

Erent.pk is only provides the rental agreement draft without any obligation, however, to make sure rental transactions happen in full confidence contact your legal expert to draft or modify rental agreement according to your requirement. There are lots of things you can do on your end to secure the process.

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