Icon Watch Hire - Rental Agreement

 

Last Updated: 10 November 2024

 

This Rental Agreement (“Agreement”) is made between Icon Watch Hire, located at Suite 415, Cotton Exchange, Liverpool, United Kingdom (“Lessor”), and the individual or entity renting the watch (“Lessee”). By signing this Agreement, the Lessee agrees to the terms and conditions outlined herein.

 

1. Rental Item and Term

 

1.1 Item: The Lessor agrees to rent the following luxury watch to the Lessee:

 

1.2 Rental Term: The rental term is as follows:

 

• Daily Rental: 24-hour period.

• Weekend Rental: From Friday to Monday.

• Weekly Rental: 7-day period.

• Monthly Rental: 30-day period.

 

The rental period shall commence on the date specified and will end on the agreed-upon return date.

 

2. Rental Fees and Deposit

 

2.1 Rental Fees: The Lessee agrees to pay the rental fee for the chosen period, as outlined at the time of booking.

 

2.2 Deposit: A refundable deposit is required. The deposit will be refunded to the Lessee within 2 business days after the watch is returned in satisfactory condition.

 

2.3 Payment Method: All fees and deposits must be paid in full prior to taking possession of the watch. Accepted payment methods include credit card, debit card, and bank transfer.

 

3. Condition and Care of the Watch

 

3.1 Condition at Pickup: The Lessee acknowledges that the watch is in good working condition at the time of pickup. Any pre-existing damages must be documented in writing.

 

3.2 Care Requirements: The Lessee agrees to:

 

• Keep the watch in a secure and controlled environment.

• Avoid exposure to extreme conditions, water (unless the watch is water-resistant), and any situation that may cause damage.

• Not attempt any repairs, modifications, or servicing on the watch.

 

Failure to adhere to these care instructions may result in partial or full forfeiture of the deposit.

 

4. Return of the Watch

 

4.1 Return Condition: The watch must be returned in the same condition as it was received, along with any packaging and accessories.

 

4.2 Late Returns: A late fee of £100 per day will be charged for each day beyond the agreed-upon return date.

 

4.3 Loss or Damage: In the event of loss, theft, or irreparable damage, the Lessee is responsible for the full replacement cost of the watch.

 

5. Use of the Watch

 

5.1 The watch is intended solely for personal use by the Lessee and should not be transferred, assigned, or sub-leased to any other party without the express written consent of the Lessor.

 

5.2 The watch is not to be used for any unlawful activity or purposes.

 

6. Loss, Theft, and Damage

 

6.1 Responsibility: The Lessee is fully responsible for any loss, theft, or damage to the watch during the rental period.

 

6.2 Reporting: If the watch is lost or stolen, the Lessee agrees to notify the Lessor immediately and to cooperate with any investigation required by insurance or law enforcement.

 

6.3 Repair or Replacement Costs: In the event of damage, the Lessee will be liable for repair costs as assessed by the Lessor. If the damage is beyond repair, the Lessee will be charged the replacement cost, which may exceed the deposit amount.

 

7. Termination of Agreement

 

7.1 The Lessor reserves the right to terminate this Agreement at any time if the Lessee violates any terms. In such cases, the watch must be returned immediately, and the deposit may be forfeited.

 

8. Insurance

 

The Lessee may opt to purchase additional insurance to cover potential loss or damage to the watch. Any insurance arrangement should be confirmed at the time of rental.

 

9. Indemnification

 

The Lessee agrees to indemnify and hold harmless Icon Watch Hire from any claims, damages, losses, or expenses, including attorney’s fees, arising from the Lessee’s use of the watch during the rental period.

 

10. Limitation of Liability

 

Under no circumstances shall Icon Watch Hire be liable for any indirect, incidental, or consequential damages, or any loss of profits or revenues, arising from the Lessee’s use of the watch.

 

11. Governing Law

 

This Agreement shall be governed by and construed in accordance with the laws of the United Kingdom.

 

12. Entire Agreement

 

This Agreement constitutes the entire understanding between the Lessor and Lessee regarding the subject matter and supersedes all prior discussions, agreements, or representations.

 

Signature

 

Lessee’s Name: ______________________________

 

Signature: ___________________________________  Date: ________________

 

Lessor (Icon Watch Hire): _____________________  Date: ________________

.