This Agreement shall commence on the date of delivery of the product/s to the customer and remain in full force and effect until all the products are returned to payrentz by the customer and acknowledged by the quality team of payrentz that the products are received in good condition.

Orders placed and payment to payrentz shall not be considered as confirmation for delivery of the product. All deliveries will be processed only upon successful KYC verification, products availability and location serviceability. The Customer authorizes payrentz to verify all the details provided by him/her and verify his/her credit score by evaluating their credit report with the help of any credit bureau and/or any other third party. payrentz reserves the right to reject the customer’s order any time prior to delivery at its sole discretion without assigning any reason and security deposit refund will be initiated to the customer’s source account within 7 days.

- payrentz shall deliver the products only to the address provided by the customer and updated in the customer profile. During delivery, the customer or his/her representative (as authorized by the customer) should be present at the delivery location. In case of representative, he/she shall provide a copy of ID proof and authorization letter to the delivery team. In case of non-adherence and if a second delivery attempt is required, payrentz shall charge additional handling charges to the customer.

- customer or the representative shall inspect the product quality at the time of delivery. In case any product damage during transit or unfit for use, payrentz shall replace the same at its own cost and in case a replacement is not required, such damage shall be noted in the delivery receipt and a photo of the same shall be taken for records. If damage claim is registered after the acceptance of delivery by the customer, payrentz shall not be responsible towards replacing the product and shall levy damage charges as ascertained by the quality team.

- customer shall ensure the entry of delivery vehicle inside the premises where the delivery location is situated and ensure that prior permission is obtained for the use of elevator if any for delivery.

Customer shall pay a refundable and interest free security deposit at the time of booking. Security deposit shall be refunded within 7 days to the customer after receipt of confirmation from payrentz quality team that the products are returned in good condition. Refund will be initiated to the account details maintained in the client’s profile /dashboard. In case of any pending dues including monthly rent, late fees, or damage charges, payrentz reserves the right to deduct the said amount from security deposit paid by the customer and shall refund the remaining amount. Customer cannot request at any time during the relationship for any dues to be adjusted from the security deposit.

Upon receipt of order details, handling charges and security deposit, payrentz shall send confirmation to the registered e-mail address of the customer. Customer will be able to track the status of order and status of support tickets raised, using the customer profile/dashboard in payrentz website.

payrentz reserves the right to share customer information with the following pursuant to this agreement.

- Credit agencies: Customer hereby agrees that non-payment of rent, late fees, damages charges or any other non-payment, may affect the credit rating of the customer and payrentz shall not be liable for any claim from the customer for sharing such information with credit rating agencies.

- Third party: payrentz may choose to provide certain services under the agreement through third-party. In such a scenario, payrentz shall share the customer details necessary to provide service to facilitate the third-party to provide service. The customer hereby authorizes payrentz to share details of the customer with such third party.

- Related parties: In the event, the customer defaults payment or not returning the products and is not traceable, in addition to any other right of payrentz, the customer agrees that payrentz shall have the right to reach out to the customer’s relatives, friends, employer, other related parties to enquire the whereabouts. The customer hereby agrees that, payrentz shall not be liable for any inconvenience or loss caused for such action by payrentz.

This agreement shall be governed by the laws of India and shall be subject to exclusive jurisdiction of courts in Chennai.

Customer shall make all payments due to payrentz only through the payment gateway of the company’s online portal www.payrentz.com. payrentz will not be liable for any payment made to any third party or individual or through any other channel. payrentz collects monthly rent from its customers on a postpaid basis unless otherwise mentioned specifically. Monthly rental invoice shall be raised on the last day of every month and the due date for payment shall be the 7th day of the following month. Customer shall pay the rental amount as per the invoice raised and mailed to the customer’s registered e-mail address. Payment made beyond the due date shall incur a late fee.

Pro-rata rent will be calculated from the next day of date of delivery (T+1) until the last day of the first month for the products delivered during the month. In case of order subscription cancellation, the last month rental shall be calculated on a pro-rata basis until a day before the date of pickup (T-1) of the product from the customer.

Late fees of Rs. 100 per rental invoice shall be levied on the 8th day of every month to customers who have missed the due date (7th of every month). payrentz reserves the right to revise the late fee any time at its sole discretion.

payrentz shall provide service support for the products delivered to the customer, for the entire rental duration of upon request from the customer. Periodical maintenance shall not include any damage or breakdown due to mishandling by the customer. payrentz shall carry out the maintenance/repair of the product within 3 working days after the request has been registered. In the event, the issue is not resolved during repair, payrentz shall provide a replacement for the product. Any additional cost incurred by payrentz during the maintenance and cleaning due to damages or poor maintenance shall be borne solely and paid by the customer via payrentz online portal.

Customer can choose to continue renting the products beyond the initial chosen tenure. The monthly rent applicable at the time of booking shall be considered for calculation of monthly rental amount for the extended period. Any extension shall be deemed to be pursuant to this agreement.

Customer hereby agrees to submit request for rental subscription cancellation with 10 days’ notice period to enable hassle free closure. Short notice charges will be levied for customers who request for immediate pick up or pick up of products within 10 days from the date of cancellation request. payrentz has listed flexible rental tenure and differential rates based on the tenure. Customer can choose to close the rental subscription at any time with intimation to payrentz in the customer dashboard. If the subscription is closed early, ahead of rental tenure chosen at the time of order booking, pre closure charges shall be levied as per initial terms of the agreement as mentioned in payrentz website based on the selected tenure.

The customer hereby agrees that he/she is liable towards repair and replacement cost for any damage caused to the product. In the event, the product is stolen or damaged beyond repair, customer shall be liable to pay payrentz the market price of the product. Minor damages due to usage shall be considered as normal wear and tear. The extent of damage will be ascertained by comparing against the initial document signed by the customer and the photographs taken during delivery and product return. If it is found that product repair is carried out by any unauthorized person, then a penalty may be levied as per payrentz policy. Any removal, alteration, disfiguring or cover up of any product information, lettering, or insignia displayed on any product shall be considered as damage and shall be chargeable to the customer. A quality check report stating the damages if any will be provided.

payrentz reserves the right to inspect the products delivered / rented during the term of the agreement. payrentz shall provide prior intimation to the customer regarding the visit for inspection to avoid any inconvenience. The customer shall ensure that payrentz representative is provided with proper access to the premises for inspection.

In case the customer decides to relocate from the registered address, a request shall be made to payrentz at least 10 days in advance along with the address proof of the new address. Once the request is raised, payrentz shall arrange to relocate the product as per the mutually decided date with the customer. Relocation shall be subject to successful verification and approval of the KYC of the customer’s new address and serviceability of the new location.

payrentz shall have the right to terminate this agreement immediately if the customer defaults payment of rental dues or any other payment dues or breach of any of the terms of this agreement.

Consequences of termination:

a) payrentz shall have the right to take possession of the products delivered to the customer immediately

b) Any payment pending from the customer shall become payable immediately to payrentz

c) The security deposit paid by the customer shall be refunded to the customer post damage assessment of the products and deduction of payment dues if any

Notwithstanding any other terms of this Agreement, payrentz shall have the right to terminate the Agreement without any cause by providing 30 days’ notice to the customer.

payrentz retains ownership title of the products delivered/rented to the customer pursuant to the agreement. Nothing in this agreement shall be construed as a transfer of ownership of the products to the customer. The customer shall give immediate notice to payrentz if any product is about to become liable or is threatened with seizure. Customer shall indemnify payrentz against all loss and damage caused by such action against its products.

The customer shall not assign or transfer any interest in this Agreement or the Products without the written consent of Payrentz. Any such transfer or assignment shall be considered as illegal and hence a violation of the terms of this Agreement. payrentz reserves the right to assign this agreement, to any third party (including credit rating agencies, factoring agents and NBFC) without prior notice to the customer.

The customer shall indemnify, defend and hold payrentz harmless from and against any claim, demand, cause of action or loss or liability (including, but not limited to, attorneys’ fees and costs) for any product damage or personal injury arising from the customer’s use of the product by any cause, except to the extent such is caused by payrentz negligence or willful misconduct. The provisions of this clause shall survive the termination of this agreement with respect to any claim or liability accruing before such termination. In no event shall payrentz be liable for any direct, indirect, special or consequential loss or damage arising out of customer’s use of the products.

This agreement constitutes the entire agreement between payrentz and the customer. The acceptance of this agreement also signifies the acceptance of the customer, to the terms and conditions on the payrentz website. In the event of any conflict between the terms and conditions on the payrentz website (including privacy policy) and this agreement, the terms and conditions on the payrentz website shall supersede. The company reserves the right to amend the terms and condition of this agreement and on the website from time to time, the customer is requested to check the website for updated terms and conditions.

In no event shall Payrentz be liable for indirect, special, incidental, or consequential damages, or any loss of revenue, profits, or data of any kind in connection with use of the Products, even if it has been advised of the possibility of such damages. Notwithstanding any other provision of this Agreement payrentz’s total liability to customer shall not exceed the total amount of 1 (one) month rent collected from the customer.