SpeedTape

The hiring shall commence on the date when the Tools are dispatched by Artex-BPB to the Hirer and shall continue until the Tools are returned to Artex-BPB.

The Hirer having paid to Artex-BPB the deposit required in respect of Tools as shown in the table overleaf (the receipt of which deposit Artex-BPB hereby acknowledge) shall during the continuance of the hiring pay to Artex-BPB without previous demand rent for the hire of the Tools at the rate shown in the table overleaf. A minimum rent equal to 60 days rental shall be paid out but after the expiry of such 60 days period the rent shall be calculated on a day to day basis from and including the date of expiry of such 60 day period up to and including the day when the delivery note covering the return of the Tools is received and signed by Artex-BPB. The first instalment of rent shall be paid on the expiry of the first 30 days and the last instalment shall be paid when the Tools are returned to Artex-BPB. Intermediate instalments shall be paid in arrear on the last day of each calendar month.

The deposit shall be held by Artex-BPB as security for the safe keeping and safe return of the Tools and also for the payment of rent and in the event of loss, damage, destruction or failure to return or non-payment of rent such deposit may be made forfeit by Artex-BPB but without prejudice to the right of Artex-BPB to recover the difference between the amount of deposit and the amount due. The value of the tools shall be as in the schedule set out overleaf except that such values are subject to alteration without notice and in the event of such alteration the values as altered shall be deemed to have become part of the agreement.

The Hirer agrees that if the Tools or any part of them are returned for repair or maintenance and it is found that the work required to be done has been made necessary by negligence on the part of the Hirer or his/her staff during the period of hire Artex-BPB may, at their discretion, make a charge on the Hirer of a sum equal to the cost of the work carried out. The Hirer agrees that if any of the Tools are returned for repair or maintenance and have not been maintained in a clean condition, Artex-BPB may at their discretion make a fixed charge of £25.00.

The Hirer will not sell or offer for sale assign mortgage pledge underlet lend or otherwise deal with the Tools or any of them or with any interest in them or in this Agreement but will safely keep the Tools in his/her possession and will not remove them or any of them from the United Kingdom and will notify Artex-BPs in writing of the place at which they are kept and of any change in such place. The Hirer will not allow any lien to be created upon the Tools or any of them and will protect the Tools against distress execution or seizure and indemnify Artex-BPB against all losses costs charges damages and expenses incurred by Artex-BPB by reason or in respect thereof.

The Hirer shall not permit any person to use or operate the Tools unless such person shall have been trained in the use of them by Artex-BPB or someone approved by Artex-BPB.

Artex-BPB shall be at liberty but not compellable to pay any debts or claim relating to the Tools for which the Hirer may be liable and all sums so paid shall be immediately recoverable by Artex-BPs from the Hirer and shall until payment earn interest at the rate of 159% per annum.

Artex-BPB agrees upon reasonable notice to replace faulty or worn Tools or parts so as to keep the Tools in good operating conditions at all times and the Hirer shall not dismantle or otherwise attempt to repair any Tools that may be or become faulty but shall notify Artex-BPB. The Hirer agrees to return to Artex-BPB promptly such Tools or parts as are replaced and Artex-BPB shall pay the carriage charges on such returned Tools provided they are dispatched by such methods as Artex-BPB shall specify.

In cases where the Tools or any of them are replaced by other Tools or where additional Tools are ordered by the Hirer the description of such replacements or additional tools will appear on each monthly account and they will be dealt with in all respects as subject to all the terms and conditions of this Agreement. The Tools which are let on hire hereunder and whether the original tools or replacements or additional tools may be either new or rebuilt. Artex-BPB are entitled to have access at all reasonable times to the Tools and to inspect the state and condition thereof and verify the serial numbers thereon.

Artex-BPB shall not be liable for injury caused or suffered to or by any persons or property or arising out of delay of work or any consequential damage which may arise from the use of the Tools by the Hirer or from worn or faulty Tools or parts and the Hirer shall indemnify Artex-BPB from and against all losses costs charges damages and expenses which may be incurred by Artex-BPB by reason or in respect of the use or possession of the Tools by the Hirer.

The hiring may be determined at any time by Artex-BPB and is automatically determined when the Hirer returns the Tools to Artex-BPB and the receipt of them is acknowledged by Artex-BPB but any such termination shall be without prejudice to any antecedent claim hereunder.

If the Hirer shall make default in punctual payment of the rent or if a receiving order in bankruptcy shall be made against him or if he/she shall call a meeting of his/her creditors or if he/she shall execute any assignment for the benefit of or appoint them his/her creditors or if the Hirer (being a limited company) shall enter into compulsory or voluntary liquidation (otherwise than for the purpose of reconstruction) or if the Hirer shall fail to observe and perform the terms and conditions of this Agreement on his/her part to be observed and performed or if the Hirer shall do or cause to be done or permit or suffer any act or thing whereby Artex-BPB's rights in the Tools may be prejudiced or be put in Jeopardy the hiring shall automatically determine and upon demand in writing the Hirer shall forthwith return to Artex-BPB by delivering the same at a place to be nominated by Artex-BPB at the Hirer's expense the Tools in good order and condition (reasonable wear and tear excepted). Upon the failure of the Hirer to comply with such demand it shall thereupon be lawful for Artex-BPB to retake possession of the Tools and for that purpose to enter into or upon any premises where the same may be and the Hirer waives in advance any claim for damages against Artex-BPB or any person authorized by Artex-BPB in respect thereof but the determination of the hiring under this clause shall not affect the right of Artex-BPB to recover from the Hirer any moneys due to Artex-BPB under the Agreement or damages for breach thereof.

All notices hereunder shall be given in writing by post at the address specified overleaf (or at such address as may be designated in writing by one party to the other) and shall be deemed to have been served forty-eight hours after posting.

Ownership of the Tools shall at all times remain vested in Artex-BPB and the Hirer shall not permit any lien charge pledge or levy to be created in respect thereof.