Termination and Rescission. Rental agreements with no pre-determined rental period can be terminated by either party with one working days' written notice. Rental agreements with a pre-determined rental period/price run for the agreed period, unless otherwise agreed in writing. BAS can rescind an agreement if the rental equipment is not treated properly, the customer is found to be insolvent, BAS does not consider the customer’s creditworthiness to be sufficient and/or the customer has defaulted on one or more due payment commitments. On rescission, the customer commits to return all equipment that has been rented or not paid for, or assist BAS in collecting machines and equipment. In such cases, BAS may additionally claim compensation for any loss that BAS suffers as a result of the rescission. If BAS fails to perform maintenance and repairs in a satisfactory manner when, according to an overall assessment, this may be considered a material breach of the rental agreement, the customer can rescind the agreement for those units involved. If BAS fails to supply one or more ordered units at the agreed time, the parties shall attempt to agree a new delivery time in writing. If there is failure to reach an agreement, the customer is entitled to cancel the delayed units after (i) 3 working days from the original time of delivery for rental objects with continuing rental periods or pre-agreed rental periods of less than 3 months; (ii) 5 working days from the time of delivery for rental objects with pre-agreed rental periods of more than 3 months. Other than the right of cancellation, it is agreed that the customer is unable to use other remedies in case of delayed delivery, including compensation.
Appears in 3 contracts
Sources: Rental Agreement, Rental Agreement, Rental Agreement