A digital Wedio Rental Agreement is automatically generated when a rental request is accepted by a lender.
The Wedio Rental Agreement contains the following:
"This agreement is concluded between the following parties:
(Lender) and (Renter)
Regarding Wedio order: 123456
Replacement value: $£1,234
Transfer of equipment
The equipment is handed over to the renter on the following date:
The equipment is returned to the lender on the following date:
The parties agree on the following
The parties agree that the equipment matches the related order from Wedio. Any additional parts are described here:
The parties agree to the condition of the equipment upon pickup:
Notes for the condition of the equipment:
(condition of equipment)
2. Rental period: The rental period starts and ends with the physical transfer of the equipment between the parties as stated in the order.
3. The payment for the rental is conducted through Wedio.
4. At a lender's discretion, security deposits can be made by parties outside Wedio. Typically, security deposit payments are arranged to be refunded at the end of the rental period by the lender if the equipment is returned in the same condition as at the start of the rental period. The lender may use part or all of the deposit to repair damage to the equipment caused by the renter or caused while in the renter's care.
5. The involved parties are over 18 years.
6. Custody and transfer of the equipment:
The renter must have access to the equipment from the first day of the rental period. At the end of the rental period, the renter must return the equipment to the lender in the same condition as at the start of the rental period (normal wear and tear eg scratches are accepted). However, the equipment must be returned in order and cleaned if the equipment has been used for more than 3 days.
7. Use of the equipment:
The renter may only responsibly use the equipment under applicable laws and regulations (e.g. drone license when renting a drone).
The renter inspects the equipment upon pickup and before the start of the rental period and recognizes that the equipment is in good condition.
9. Wedio Global Coverage:
Read more about Wedio Global Coverage here.
10. Maintenance, damage, and loss:
In the event of damage covered by the Wedio Global Coverage, the renter must immediately follow the process stated in support.wedio.com
If the Wedio Global Coverage doesn’t cover the damage, the renter must carry out maintenance at his/her own expense during the rental period. If the equipment is lost or damaged, the renter is liable to pay the replacement value to the lender. This applies throughout the rental period.
Read more in the Terms and Conditions.
In case of damage or theft, the renter is responsible for paying 15% of the replacement value or repair cost, but a minimum of £285 in the UK, and a minimum of €335 in the EU. In the case of voluntary parting, the lender gets reimbursed the market value of the product, less a 15% deductible/excess. Reimbursement will be paid out to lenders with or without VAT depending on the lender's status.
12. Liabilities, taxes and other laws:
The renter shall keep the equipment free of any form of detention or other liability, and shall not allow any form of action where the lender’s title or rights may be adversely affected. The renter is responsible for complying with all laws and regulations relating to the possession, use or maintenance of the equipment. Furthermore, the renter must promptly pay all taxes, fees, licenses, and governmental fees, together with any fine or interest thereon relating to the possession, use or maintenance of the equipment.
13. The lender’s representation:
The lender represents and ensures that he/she has the right to rent out the equipment as described in this rental agreement and that the renter is entitled to possess and handle the equipment, and the lender will not interfere with this right as long as the renter pays the rent in time and complies with all other obligations of this agreement.
The equipment is and must remain the lender’s exclusive property.
If for any reason a part or parts of this agreement become unenforceable, the remainder of this agreement will continue in full force and effect. If any provision of this agreement is deemed to be invalid or unenforceable by any competent court, and if modification of this provision makes it valid, then this provision shall be deemed to be construed as limited.
16. Transfer of rights:
Neither this Agreement nor the renter’s rights hereunder may be transferred except with the lender’s prior written consent.
17. Binding effect:
The obligations and terms contained in this Agreement shall apply to and bind the Parties and their heirs, legal representatives, successors and the parties' permitted assigns.
18. Governing Law:
This agreement must be governed by and interpreted under the applicable law.
Any required notice or otherwise given notice under this Agreement must be in writing and sent to the lender.
Both parties may change addresses from time to time if notice is given as described above.
For details on Wedio's terms and conditions, click here."