Hire and Purchase Agreement

THIS AGREEMENT is made on 22 November 2024

Between

(1)  PARTY_1_NAME whose registered office is at PARTY_1_ADDRESS_SINGLE_LINE (the Owner)

(2) PARTY_2_NAME whose registered office is at PARTY_2_ADDRESS_SINGLE_LINE  (the Hirer)

in relation to the Goods as described herein: GOODS_DESCRIPTION

It is agreed as follows:

The Parties Agree as Follows:

1. General Terms and Definition

1.1. The Goods are hired for the purpose of PURPOSE (the "Purpose").

1.2. The Goods are hired on HIRE_DATE (the "Hire Date").

1.3. The term for the hiring of the Goods will end of EXPIRY_DATE (the "Expiry Date").

1.4. The total sum to rent the Goods during the period is CURRENCYRENT (the "Total Rent").

1.5. The Payment Schedule for each fixed payment of the Total Rent in relation to the Goods is as below:

PAYMENT_DATE

2. Ownership and Title

2.1. The Owner has title to the Goods and the Owner has agreed to hire the Goods to the Hirer and the Hirer has agreed to hire the Goods from the Owner as of the Hire Date on these terms. Subject to the Hirer duly and punctually paying the Total Rent and observing and performing its obligations as set out in this Agreement, the Hirer will peaceably possess and enjoy the Goods from the Hire Date to and including the Expiry Date without interruption or disturbance from the Owner or any other person lawfully claiming by or from or under the Owner, subject always to the rights of the Owner.

2.2.  The Hirer hereby acknowledges that until such time as the ownership of the Goods vests in the Hirer either pursuant to the proper exercise of the Option to Purchase herein contained or otherwise with the specific written consent of the Owner, the Goods are and shall remain the sole and exclusive property of the Owner. The Hirer shall have possession of the Goods as a mere bailee.

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