Common use of Fines and Liability Clause in Contracts

Fines and Liability. If the iPad is returned after the due date, late fines will accrue at $10 per day to a maximum of $100.00. If the iPad is not returned within 10 days, the borrower will be responsible for the full replacement costs. By checking out an iPad, the borrower is agreeing to the Lending Agreement; a copy is included in the carrying case. Please note the borrower will be responsible for any damage fees up to the full replacement cost of the iPad and the accessories. The replacement costs as of the date this agreement is written are as follows: iPad - $650.00 iPad cover - $15.00 Lightning to USB cable - $25.00 USB power adaptor - $25.00 Carrying case - $20.00 Processing fee - $30.00