Vehicle Lease Agreement
Vehicle Lease Agreement
The Lessor: 621 649 894 Pty Ltd Under license from the Vehicle Owner
And
The Lessee: YOU
Date: [Date] (Date as at first payment)
Notice to Lessee:
This is a lease. You are not buying a vehicle. Any previous statement from Braaap or its Dealership network regarding buying a vehicle is to be dismissed. Do not sign the lease agreement without reading it.
Summary:
· The joining fee is non-refundable – this is not a “Bond” Payment, this is a Joining Fee
· Pick-up and Return Location to be confirmed via SMS/Email
· You are responsible for returning the vehicle to the agreed pick-up location with a full tank of petrol, cleaned and in good working order.
· You are liable for any damage and expense from negligence and/or recklessness.
· End your Lease by returning the vehicle and giving 7 days’ notice. No exit fee, payments will stop once the vehicle is returned. Billing is for the full week. · Contact lease@braaapmotorcycles.com for any help you need.
Contents
1. Definitions
2. Interpretation
3. Lessee's warranties for authority
4. Lessor's warranties
5. Lease
6. Payment and accounts
7. The Security Deposit
8. Delivery and possession
9. Lessee's obligations
10. Insurance
11. Taxes and permits
12. Buyout of Lease
13. The Guarantor
14. Disclaimers and limitation of liability
15. Default by the Lessee and termination
16. Consequences of termination
17. Assignment
18. Indemnity
19. Miscellaneous matters
Schedule 1: The Vehicle
Schedule 2: The Lease Rent
This agreement is dated: [date] (Date of First Payment)
The Lessor is: 621 649 894 Pty Ltd Under license from the Vehicle Owner
The Lessee is: [name] (YOU) As completed in the joining form
Of [address]
The Guarantor is: [name] ] (YOU) As completed in the joining form
Of [address]
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It is now agreed as follows:
1. Definitions
These definitions apply unless the context requires a different interpretation:
"Entire Lease Period" mean the Initial Lease Period together with any Subsequent Lease Period or period during which the Lessee is holding over.
“Initial Lease
Period” means a period of [1 week] from the date of this Lease.
“Lease” means the lease set up by this agreement.
"Lease Rentals" means the amounts by way of rental for the use of the Vehicle payable by the Lessee to the Lessor in the amounts and on the dates mentioned in Schedule 2.
"Manufacturer" means the manufacturer [name of the manufacturer] of the Vehicle from whom the Lessor acquires title.
"Security Deposit" means the sum paid by the Lessee to the Lessor as a deposit against any breach by the Lessee of any provision of this Lease.
"Start Date" means the start date of this Lease.
"Subsequent Lease
Period" means any period after the expiry of the Initial Lease Period.
"Total Loss" means total destruction or permanent damage to the Vehicle which renders it totally unusable and such that the cost of repair is not less than 85 % of the cost of new vehicle of a similar type.
"Vehicle" means the subject matter of this Lease as fully described in Schedule 1.
“Lessee” The name of the person who completed the form via RENTAL CAR MANAGER, STRIPE or KEAP CRM in order to make first payment
“Date of First Payment” The date on which the Lessee first applied and processed payment as documented in STRIPE payment processing platform used by Braaap Motorcycles
“Guarantor” Unless otherwise stated is the Lessee
“Date of Collection” Is the date the lease officially begins. This date is the date the bike is made available for the Lessee regardless of whether the Lessee collects on this date. Once the bike is allocated as available for the Lessee the lease begins. “Note there is no refund for the Lessee being late to collect the bike once its made available.
“Point of Collection” As documented by Braaap “the lessor” in email to the Lessee. The point the motorcycle is collected from is also the point the motorcycle is to be returned.
2. Interpretation
In this agreement unless the context otherwise requires:
1. a reference to a person includes a human individual, a corporate entity and any organisation which is managed or controlled as a unit.
2. a reference to a person or party includes reference to that person's successors, legal representatives, permitted assignees and any person to whom rights and obligations are transferred or pass as a result of a merger, division, reconstruction or other re-organisation involving that person.
3. any agreement by either party not to do or omit to do something includes an obligation not to allow some other person to do or omit to do that same thing.
4. all money sums mentioned in this Lease are calculated net of GST, which will be charged when payment is due and so far as the law requires.
3. Lessee's warranties for authority
The Lessee warrants that:
1. he has all necessary authority to enter into this Lease;
2. he has no reason to doubt [his ability / the ability of the Lessee] to pay all sums due under this Lease as they become due for payment.
3. No person, nor governmental authority, has any right or claim which could prevent the Lessee at any time, from complying with the terms of this Lease.
4. Is responsible for the vehicle at all times including 3rd party liability, accidental damage and/or theft.
4. Lessor's warranties
The Lessor warrants that:
1. he is considered for the sake of responsibility the owner of the Vehicle
2. there is no right of any third party which could prevent or prejudice the use of the Vehicle;
3. he is aware of no contractual obligation or legal right which could prevent him from entering into this Lease.
5. Lease
1. This Lease commences on [date of collection].
2. The Lease Period is (Flexible)
3. Each Subsequent Lease Period shall be for a further period of [1] week from the end of the Initial Lease Period or any expired Subsequent Lease Period. (It is a week-to-week lease allowing the rider to keep the bike as long or as short of a time as they choose subject to payment)
4. This Lease shall continue in full force and effect until the obligations of the Lessee for payment of Lease Rentals have been fully discharged.
5. The Lessee will extend the Lease for a Subsequent Lease Period of 1 week by maintaining the weekly payment that is automatically deducted from the Lessee’s credit/debit card. To end the lease the lessee must do so by giving notice in writing to the Lessor at least 7 days before the expiry of the Initial Lease Period. Weekly lease price is subject to change with 7 days notice.
6. By this Lease the Lessor lets and the Lessee takes possession of the Vehicle for the Initial Lease Period at the agreed “Point of Collection” and subject to the terms and provisions set out in this Lease.
7. The Lessee agrees that the Vehicle complies with the description given in Schedule 1, is in useable condition and is fit for the Lessee's purpose.
8. The Lessee agrees to pay the Lease Rentals in advance in the sums and on the dates set out in Schedule 2.
9. The Lessee recognises that the Vehicle is acquired by the Lessor only for the purpose of leasing it and the Lessor has made no representation or warranty concerning the condition or performance of the Vehicle.
10. All payments which may be due by the Lessee to the Lessor from time to time shall be treated as Lease Rentals for all purposes at law.
11. Except so far as provided in this Lease, the Lessor warrants that he will not interfere with Lessee’s use of the Vehicle, nor allow anyone else to do so.
12. Unlimited KMs
13. Flexible Lease length
14. Registration remains in Lessor’s (braaap) name and is paid by Lessor (braaap)
6. Payment and accounts
Payment for the Lease is broken into two lines. One to join the lease program. The “Joining Fee” and then the ongoing cost the lease the motorcycle. The joining fee is a non-refundable payment and if the motorcycle is not delivered within the time frame promised the joining fee remains non-refundable however the weekly lease payment will be paused until the motorcycle is made available for collection.
1. All payments to be made by the Lessee under this Lease shall be made in full, without any set-off or counterclaim.
2. If at any time, the Lessee is required to make any deduction from the amount of a Lease Rental on account of any tax, the amount payable shall be deemed to increase to the extent of such deduction.
3. If any sum payable shall not be paid when due, the Lessee shall pay to the Lessor interest on it, calculated and cumulated on monthly basis from the due date until payment, at the rate of [3] % per month.
4. The Vehicle is valued at the price driven by www.redbook.com.au by taking the middle price based on "I'm Selling" price that the redbook suggests. They have a High & Low price guide, We take the average of the two prices listed to give a fair and reasonable middle of the line valuation.
5. Late Fee of $25 or Bounce Fee of $25
6. Infringement processing fee of $75
7. Excess on the vehicle damage reduction to $750 (Optional) $11/week (Limited to the leased vehicle not 3rd party vehicles)
8. 3rd Party excess reduction to $750 is $25/week (Otherwise excess is $5,000)
9. Theft excess reduction to $750 is $9/week
10. Bundle - All Excess Reduction Options included. Reduction to $500 (Full comp)
7. The Security Deposit
1. There is no security deposit paid. The Lessee confirms he/she has the means to pay any damage, fines, or additional fee’s and therefor the Lessor has waived the need for a Security Deposit unless otherwise stated in email.
2. credit card on file will be used in event of any further expenses. (Unless otherwise noted on email or SMS)
3. If a security deposit has been deposited: The Lessor may sell or liquidate the Security Deposit at any time in payment of any money which might otherwise be due to him by the Lessee.
4. If the Lessor uses any part of the Security Deposit:
1. within [7] days he will inform [through written notice] the Lessee for payment out of the Security Deposit;
2. the rights or responsibilities of the parties under this Lease remain unaffected.
3. the sum used is repayable to the Lessor immediately and failure by the Lessee to repay within [4] weeks is a breach of this Lease.
8. Delivery and possession
1. The Lessee shall obtain the delivery of the Vehicle from a place as notified by the Lessor and shall confirm to the Lessor with a written acknowledgement that it has been received.
2. The Lessor shall, at the cost and expense of the Lessee, assign to the Lessee the benefit of all Manufacturers’ warranties in respect of the Vehicle.
3. Immediately upon delivery of Vehicle, the Lessee shall fully examine it and shall satisfy himself that it is of required specification, in good order and in safe, clean and usable condition.
4. In case of any damage or defect in the Vehicle, the Lessee shall immediately inform the Lessor [and the Manufacturer] of such defect. If the Lessor [or the Manufacturer] receives no notice within [48] hours from time of delivery, then the Vehicle shall be presumed to have been accepted by the Lessee.
5. It is the responsibility of the Lessee to take pictures of the vehicle immediately upon delivery and before riding, with a date stamp, to prove any pre-existing damage should this be questioned upon return of the vehicle
9. Lessee’s obligations
1. During the Entire Lease Period, the Lessee shall:
1. not move the Vehicle outside the limits of Australia without obtaining written permission from the Lessor.
2. ensure that the Vehicle is operated only by properly trained and licensed rider and shall follow the operating manual provided by the Manufacturer.
3. keep the Vehicle in a good condition and working order, with all necessary accessories, equipment and tools, to the satisfaction of the Lessor. Including on going service schedule.
4. not affix plates or other markings nor remove or alter any such identification or registration marks placed upon the Vehicle.
5. be responsible for payment of all operating costs of the Vehicle.
6. be responsible for any fines including but not limited to parking charges or traffic fines related to the use of the Vehicle.
7. pay Lessor’s processing fee to cover its time in dealing with any fines or charges, unless the Lessee is able to show that no loss or damage has occurred or if incurred, is significantly lower than the processing fee. Plus any sur charges from the lease agreement for such fines.
8. keep and maintain accurate records of all maintenance and services carried out to the Vehicle.
9. not pledge, sell, sub-let or create any interest in the Vehicle in favour of any person nor create any charge or lien over it.
10. obtain and maintain throughout the Entire Lease Period, all licences to run the Vehicle to ensure compliance with the statutory and regulatory requirements.
11. Hold responsibility for safe riding and any 3rd party liability that comes from but not limited to crashing, road use, parking or any other use of the bike.
12. If the Total Loss occurs, the Lessee shall immediately notify the Lessor. The Lessor may then choose either that the Lessee shall immediately make good such damage or that the Lessee shall assign to the Lessor all the Lessee's rights, benefits and claims under the relevant policy of insurance.
13. The Lessor is entitled to inspection at any time and shall have the right to observe the Vehicle in operation and to see any document relating to the Vehicle in hard and soft copy.
14. If the inspection reveals any material defect in the Vehicle, the Lessee shall be responsible to make good that defect within [3] days after completion of the inspection.
15. Road tolls to be paid by the lessee. Approval for the Lessor to debit the lessee’s payment method automatically.
10. Insurance
1. The Lessor offers the Lessee insurance via its 3rd party provider. Any excess reduction offer is to be paid separately.
1a. In the event of a lease bike being used for a track day/ride events the Lessee must take out full insurance option and an extra excess crash amount of $250 is charged on top of existing excess amount.
2. The Lessee shall ensure that the name of the Lessor is endorsed on the insurance policy.
3. Lessee acknowledges any breach including unlicensed, reckless riding, accidental or intentional incident, accident or infringement breaches the insurance protection.’
4. Leasee is responsible for theft of the vehicle unless the insurance option covering theft excess is paid
11. Taxes and permits
1. The Lessee shall keep the Vehicle registered in the lessors name.
2. At any time during the Entire Lease Period, the Lessor has a right to inspect the Vehicle not more than [12] times in each year.
12. Buyout of Lease
12.1 The vehicle is not for sale.
13. The Guarantor
The Guarantor agrees:
1. that his obligations are made to the Lessor for the time being and to each of his successors in title without the need for any express assignment or novation.
2. that any variation to the terms of this Lease by agreement between the Lessor and the Lessee does not affect the obligations of the Guarantor.
3. to indemnify the Lessor against all losses incurred as a result of any failure by the Lessee to comply with the terms of this Lease, throughout the Entire Lease Period. Even if the Lessor gives the Lessee extra time to comply with any obligation in this Lease, or does not insist upon his strict terms, this covenant remains fully effective.
4. to make payment under this indemnity to the Lessor of such sum as is due by the Lessee but unpaid [7] days after having been demanded by the Lessor.
5. to use his best endeavours to make good any other default by the Lessee immediately the Lessor informs him of it.
6. The Guarantor shall be liable for all expense relating to the Vehicle which arises after the termination of the Lease as a result of the Lease having ended by default of the Lessee.
7. The guarantor acknowledges all costs associated with recovery of vehicle or money owed will be invoiced from the lessor to the guarantor.
8. Approval is granted for the Lessor to contact emergency contact and any other contact associated to the Lessee including workplace, including for the sake of vehicle recovery, debt collecting or event of emergency.
14. Disclaimers and limitation of liability
1. Conditions, warranties or other terms implied by statute or common law are excluded from this agreement to the fullest extent permitted by law.
2. The Lessor does not make any representation or warranty concerning;
1. any damages caused by a defect that may be present or may arise at the time of delivery of the Vehicle or during the lease period.
2. repairs to the Vehicle and replacements of parts for wear and tear or accidental damage.
3. The Lessor shall not be liable to the Lessee for any loss or expense which:
1. is indirect or consequential loss; or
2. occurs, as a result of the Vehicle having been repaired or serviced by someone not authorised by the Lessor to provide that service;
3. the Vehicle has been used by an incompetent driver or any other person not authorised by the Lessor.
4. A delay in the vehicle being rideable.
4. This paragraph (and any other paragraph which excludes or restricts the liability of the Lessor) applies to the Lessor’s directors, officers, employees, subcontractors, agents and affiliated companies as well as to the Lessor itself.
15. Default by the Lessee and termination
1. At any time during Entire Lease Period, this Lease may be terminated on [one] week notice by either party except in the occurrence of an Event of Default where the vehicle is immediately recoverable and terminated if the Lessor chooses so.
2. There shall be an "Event of Default" if:
1. in the opinion of the Lessor, any representation or warranty made by the Lessee is found to be incorrect; or
2. the Lease Rentals remain outstanding for a period of more than seven days from the due date of payment as mentioned in Schedule 2; or
3. the Vehicle is lost or damaged beyond repair;
4. the Lessee itself uses or allow to use the Vehicle which is illegal or beyond the scope of this Lease; or
5. the Lessee makes an arrangement for the benefit of its creditors; or
6. the Lessee is declared bankrupt or insolvent; or has taken or suffered any action for its organisation, liquidation, winding up or dissolution; or had a receiver or liquidator appointed for all or any part of its assets or business unless an application has been made
under the Treasury Laws Amendment (2017 Enterprise Incentive No.2) Act 2017.
3. Each Event of Default is severable and independent from any other Event of Default and shall not be limited by reference to another Event of Default.
4. When an Event of Default occurs:
1. this Lease terminates automatically;
2. the Lessee must inform the Lessor immediately;
3. the Lessor may make whatever arrangements it decides in order to re-take possession of the Vehicle;
4. every expense of the Lessor arising from the Event of Default shall be a debt due to him by the Lessee.
16. Consequences of termination
When this Lease terminates, whether or not by expiry of the Entire Lease Period:
1. the Lessee shall pay all arrears of Lease Rentals;
2. if the Lessee or the Guarantor is prevented by law from delivering the Vehicle to the Lessor, or if the Lessor so decides in any event, the Lessor may collect the Vehicle. If it does so, all cost in connection with its taking possession, transporting and storing the Vehicle shall be a debt due by the Lessee.
3. all obligations of the Guarantor remain unaffected.
4. so long as the Vehicle is not in the physical possession of the Lessor, it shall remain in the possession of the Lessee as bailee.
5. the Lessee shall pay all expenses and costs incurred by the Lessor in retaking possession of and selling or attempting to sell the Vehicle and/or enforcing its rights under this agreement.
6. all costs of restoring the Vehicle to the condition in which the manufacturer would expect it to be, having regard to its age and usage, and assuming it had been fully maintained, shall be a debt due by the Lessee to the Lessor.
7. if any debt remains due to the Lessor, it may realise the Security Deposit or charge the Lessee’s card. An account shall be taken and any balance due to the Lessee shall be paid to him immediately.
17. Assignment
1. This Lease shall be binding upon successors, permitted assignees and transferees of either party.
2. The Lessee shall not assign any of its rights or obligations without the prior written approval of the Lessor [which may be withheld without giving a reason].
3. The Lessor agrees that during the Entire Lease Period, it shall not sell or transfer the Vehicle to any party.
18. Indemnity
Lessee agrees to indemnify the Lessor against all costs, claims and expense arising directly or indirectly from:
1. his failure to comply with the law, including the re-imbursement of any fine;
2. his breach of this agreement;
3. any act, neglect or default by any agent, employee, licensee of the Lessee;
4. a contractual claim arising from Lessee’s use of the Vehicle;
5. a contractual claim arising from the Lessee's non payment of the Lease Rentals, Security Deposit or any other payment due under this agreement.
6. Including loss of income if bike is taken off the road, Loss of income includes the weekly fee and any costs associated with loss of income. The loss of income indemnity is regardless of fault.
19. Miscellaneous matters
1. No amendment or variation to this agreement is valid unless in writing, signed by each of the parties or its authorised representative.
2. So far as any time, date or period is mentioned in this agreement, time shall be of the essence.
3. If any term or provision of this agreement is at any time held by any jurisdiction to be void, invalid or unenforceable, then it shall be treated as changed or reduced, only to the extent minimally necessary to bring it within the laws of that jurisdiction and to prevent it from being void and it shall be binding in that changed or reduced form. Subject to that, each
provision shall be interpreted as severable and shall not in any way affect any other of these terms.
4. The rights and obligations of the parties set out in this agreement shall pass to any permitted successor in title.
5. No failure or delay by any party to exercise any right, power or remedy will operate as a waiver of it nor indicate any intention to reduce that or any other right in the future.
6. The parties agree that electronic communications satisfy any legal requirement that such communications be in writing.
7. Any communication to be served on either party by the other shall be delivered by hand or sent by express post or recorded delivery or by e-mail.
It shall be deemed to have been delivered:
if delivered by hand: on the day of delivery;
if sent by post to the correct address: within 72 hours of posting;
if sent by e-mail to the address from which the receiving party has last sent
e-mail: within 24 hours if no notice of non-receipt has been received by the
sender. [Take care before agreeing to accept service by e-mail. It may be
convenient, but the parties could miss or accidentally delete the message]
8. In the event of a dispute between the parties to this agreement, then they undertake to attempt to settle the dispute by engaging in good faith with the other in a process of mediation before commencing arbitration or litigation.
9. So far as the law permits, and unless otherwise stated, this agreement does not give any right to any third party.
10. In the event of any conflict between any term of this agreement and the provisions of the constitution of a limited company or any comparable document intended to regulate any other corporate or collective body, then the terms of this agreement shall prevail.
11. This agreement may be executed in duplicate counterparts each of which shall be considered an original and all or any one of which constitute one and the same instrument.
12. The validity, construction and performance of this agreement shall be governed by the laws of the State of [State] and the parties agree that any dispute arising from it shall be litigated only in that State.
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Signed by [personal name] the Lessee
And
Signed by [personal name] the Guarantor
Schedule 1: The Vehicle
Vehicle info to be held within Rental Car Manager > For Internal use only.
Any imperfections on the vehicle to be documented by photograph and emailed to lease@braaapmotorcycles.com at the point of hand over.
Schedule 2: The Lease Rentals
Prices are subject to change – please refer to the price at time of booking
Costs of Recovery:
The debtor/s shall pay for all costs actually incurred by (your business name) in the recovery of any monies owed under this Agreement. You agree to be liable for and indemnify (company name). These costs include recovery agent costs, repossession costs, location search costs, process server costs and solicitor costs on a solicitor/client basis, debt collection commission and legal fees on an indemnity basis
Promotions are limited to one unit per customer unless otherwise agreed
Unlicensed Riders:
The Leasing program is available to those who are not yet licensed. Many riders lease a bike to use at the Motorcycle License Test, This is approved by us however we take no responsibility for verifying if you are legally licensed, We take no responsibility for verifying if you are or are not licensed: This includes but is not limited to New L & P plate riders, International License holders and/or anyone who leases a bike for use on private property. It is the riders responsibility to utilise the bike in a legal manner.