1. PERIOD OF LEASE: The lease shall be for period stated in the contract agreement.
2.1 The rental payable by the lessee to the lessor in respect of the vehicle shall be at the agreed daily rate payable on pre delivery into the bank account stipulated on invoice or such other payment method as lessor may nominate.
2.2 All payments shall be made without set-off or deduction and free of bank exchange in South African currency and the lessee will not be entitled to withhold payment for any reason whatsoever.
3. TRANSFER OF OWNERSHIP: Ownership of the vehicle shall remain with the lessor at all times.
4. DAMAGES TO VEHICLE
4.1 If the vehicle is damaged, destroyed, stolen or lost, the lessee shall immediately notify the lessor.
4.2 The lessee acknowledges that he/she/it shall be liable for any such loss/damage sustained to the vehicle, however arising and whether or not it is attributable to his/she/its full or negligence.
4.3 In the event of the vehicle being damaged, destroyed, stolen or lost as contemplated in 4.2 above, the lessor shall not be obliged to provide a replacement vehicle to the lessee.
4.4 The above liability shall be reduced by the sum paid out by the lessor’s insurance company.
5. FINES & PENALTIES
FINES The Lessee shall be liable for all fines and/or penalties incurred during the rental period and hereby authorises the lessor to disclose any information required to the relevant authorities.
6 INDEMNITY OF LESSOR
The lessee herby indemnifies the lessor from liability for any looser damages to property or any loss of life or bodily injury whether direct or indirect, consequential or otherwise arising from the rental by the lease of the vehicle. &.
7. RETURN OF THE VEHICLE:
7.1 The lessee shall return the vehicle to the lessor on the agreed date and time.
7.2 The lessee acknowledges that should he/she/it fail to return the vehicle on the agreed date and time then he shall be in unlawful possession of the vehicle and the lessor may repossess the vehicle wherever it may be found.
7.3 The lessee shall further be liable to pay the agreed rental until such time as the lessor regains possession of the vehicle.
The lessor shall be entitled but not obligated to institute any proceedings against the lessee arising out of the agreement, in any Magistrate’s Court having jurisdiction, notwithstanding that the lessor’s claim or the value of the matter in dispute may exceed the jurisdiction of the Magistrate’s COURT.