Term: The term of this Lease shall begin at the moment the Lessee (hereinafter known as “The Customer”), or an agent acting on his or her behalf, picks up/rents the Equipment from the Lessor, IMASTUDENT.COM on behalf of SV ENTERPRISES (hereinafter known as “imastudent.com”), and will expire on the last date of the Rental Period, as shown in the following sections of this contract Agreement. The rented equipment must be returned to imastudent.com by the end of business on the return date selected by the Customer upon reservation of the Equipment.
Safety & Fraud Prevention: Renting is a risky business model and we (SV Enterprises DBA, imastudent.com) still prevail in the market and run this model as we are confident in our legal practices. We have a great connection and wide network with Police across India. Any customer who intentionally commits fraud will be booked under the IPC section 420 – Cheating and dishonestly inducing delivery of property. —Whoever cheats and thereby dishonestly induces the person deceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine. We have 100% success rate in finding the culprits and booking under the IPC section. This will ruin the customer’s financial situation and will remain in history for a lifetime. So, be a good samaritan.
Fees: The entire Rental Amount, plus a refundable security deposit equal ranging from 5% to 30% of the retail value of all Leased Equipment will be Paid in Advance, in Full, on a single Major Payment mode. The cardholder must be present at the time of pickup or delivery of the item, with a valid government identification card (Driver’s License, Adhaar Card, Current Passport) in order for the reserved Equipment to be released to The Customer. If the item is delivered by third-party couriers, a signature on delivery notes is required.
Cancellations: There will be no cancellations after the equipment is picked up by or delivered to The Customer. If an order is canceled before the item is picked up, a Cancellation Fee of a single-day rental fee, at the single-day rate, plus a 3% payment gateway fee will be applied to the payment used to place the reservation. If an order is shipped and requested for cancellation before the item is delivered a Cancellation Fee of a single day rental fee, at the single day rate, plus a return shipping fee and a standard fee of 3% of the order value applies. This fee is to cover the costs of the Bank Transaction fee that is levied by the bank on every successful transaction.
Ownership: All Rental Equipment is, and shall remain, the sole and exclusive property of imastudent.com. The Customer will have no right, title, or interest other than expressly set forth in this binding Lease. At any time during the lease, the Customer may purchase the rental equipment for the current imastudent.com selling price. If a purchase is sought, the Customer will receive a discount ranging up to 75% of the rental fee from the purchase price.
Inspection: Equipment must be inspected by The Customer upon Rental Pickup or after delivery, and will be deemed to be in good, working condition once the equipment has been accepted after 12 hours. imastudent.com shall keep the Equipment in good repair, condition, and overall working order; and shall furnish any and all parts, mechanisms, and devices to keep the Equipment in good, mechanical working order. The Customer shall not, in any way, shape, form, repair, or alter the leased Equipment. Any modification or tampering to the leased Equipment will render the Equipment as Broken and may result in a fee up to the replacement cost of the item at the current imastudent.com selling price.
Warranties & Guarantees: imastudent.com makes no warranty, either expressed or implied, to any matter whatsoever, including the condition of the equipment. We make no guarantees of compatibility with any third-party accessories, including any apps or phones used in the operation of the leased Equipment. Furthermore, imastudent.com will not absolve any of The Customer’s costs or fees if the leased Equipment is rendered unusable by what is determined to be User Error. User Error will be defined as an ignorance pertaining to the usage of an item, or an item’s features during the lease Term. imastudent.com shall not be responsible for any loss of data due to equipment malfunction or otherwise, or for the loss of any data that is stored on any rented media storage devices.
Returning Equipment: Upon the expiration or early termination of the Lease, The Customer will return the Equipment to imastudent.com in good repair, condition, and general working order; ordinary wear and tear from proper use excluded. Ordinary wear and tear will be determined at the sole discretion of imastudent.com’s Staff, within the confines of the reasonably common and ordinary meanings of those terms. When an order has been selected to be shipped, imastudent.com will package the Equipment to ensure the safe arrival of the leased Equipment to The Customer. The Customer will be responsible for the proper packaging of the return shipment, using the shipping and packaging materials as provided by imastudent.com in the Initial Order Shipment. imastudent.com’s acceptance of the Equipment upon delivery does not represent imastudent.com’s determination as of the condition of the Leased Equipment. imastudent.com reserves the right to accept Equipment upon return by The Customer and make determinations regarding the condition of the Equipment within 7 (seven) days of receipt. imastudent.com’s determination as to the condition of the Equipment, upon return by The Customer, is binding under this Section and the Section entitled “Lost, Damaged, or Un-returned Equipment”.
Late Returns: The Customer shall return all Leased Equipment in accordance with the Section entitled “Term”. In the event The Customer does not return the Equipment in accordance with the Lease Term, The Customer agrees to allow imastudent.com to charge The Customer’s payment mode or security deposit, used in the reservation of the Leased Equipment, or otherwise garnish, collect, or obligate The Customer at imastudent.com’s sole discretion – up to the one-day rental price at the time of purchase, per day that the Equipment is late. Lateness, pertaining to a Shipped Rental, will be judged by the time of receipt by imastudent.com’s chosen parcel delivery service, as shown by the tracking information on the Return Shipping Label provided by imastudent.com at the time of initial shipment.
Lost, Damaged, or Unreturned Equipment: The Customer, upon acceptance of the Leased Equipment, will assume and bear the entire risk of loss and/or damage to the Equipment from any and every cause, whatsoever. No loss or damage to the Equipment, or any part thereof, will impair any obligation of The Customer under this Lease, which shall continue in full force and effect through the Term of the Lease as defined in the Section entitled “Term”. In the event of damage of any kind, whatsoever, to the Equipment, The Customer agrees to allow imastudent.com to charge, garnish, or obligate The Customer, at imastudent.com’s sole discretion, for the full cost of the repair of said damaged Equipment. imastudent.com reserves the right to choose the repair method and venue, within reasonable market value terms. The Customer agrees to be bound legally, and otherwise, by the report of imastudent.com’s chosen repair venue, to the cause of the damage to the Leased Equipment, and all cost associated with the repair.
In the event of Loss or Default: The equipment is deemed to be “Lost” or “Un-returned” when The Customer fails to return all Leased Equipment to imastudent.com within 5 (five) days of the expiration of the Term. After 5 (five) days of delinquency, imastudent.com reserves the right to charge The Customer’s payment method, or otherwise obligate The Customer, at imastudent.com’s sole discretion, for the full selling price of the Equipment, as determined by imastudent.com’s pricing – which is generally but is not guaranteed to be, the Manufacturer’s Retail Price of the equipment at the time of the rental, as specified by the Equipment’s Manufacturer. This price will exclude any current promotions offered by imastudent.com or the Equipment Manufacturer and is exempt from imastudent.com Reward Points and/or competitor price matching. The full selling price of all Leased Equipment will be charged in addition to the late fees assessed prior to deeming the Equipment as “Lost” or “Un-returned”. If The Customer returns Equipment, in an Undamaged state, to imastudent.com within 14 (fourteen) days of the expiration of the Term, the charge to The Customer’s payment mode, for the full selling price of the Equipment, will be refunded to The Customer by imastudent.com, less a late charge – equal to a single day rental fee for each Unreturned day – in accordance to the Section entitled “Late Return”. After 14 (fourteen) days from the expiration of the Term, all sales will be final.
Limitation of Liability: imastudent.com and all of its subsidiaries, sole liability under this agreement is limited to the Rental Fee paid by The Customer.
Indemnity: The Customer shall indemnify and save imastudent.com against all loss, damage, expense, and penalty arising from, related to, or connected with any action, on account of any injury to the person, or property of any character, occasioned by the operation, handling, or transportation of the leased Equipment during the Term, or while the Equipment is in the possession or control of The Customer. By entering into the Lease contract, The Customer agrees to abide by all local, state, and government laws pertaining to the use of any, and all, Leased Equipment. imastudent.com shall also be exempted from any legal action resulting from the unlawful use of any Equipment leased by The Customer from imastudent.com.
To pursue any other remedy at law or in equity: The Customer shall be and, shall remain, liable for the full performance of all obligations on the part of the Lessee set forth under this Lease, and all costs incurred by imastudent.com, relative to said default, shall be paid by The Customer. All of imastudent.com’s remedies are cumulative and may be exercised concurrently or separately.
Default: If The Customer fails to observe, keep, or perform any provision of this Lease required to be observed, kept, or performed by The Customer, imastudent.com shall have the right to exercise anyone, or more, of the following remedies:
To immediately take possession of all leased Equipment without notice or demand to The Customer.
To sue for and recover all rents, and other payments, then accrued or are thereafter accruing.
To terminate this Lease without any notice to The Customer.
Typographical Errors: In the event a product is listed at an incorrect price due to typographical error, or error in pricing information received from our suppliers, imastudent.com shall have the right to refuse or cancel any orders placed for products listed at the incorrect price. imastudent.com retains the right to refuse or cancel any such orders whether or not the order has been confirmed and The Customer’s credit card charged. If The Customer’s payment mode has already been charged for the purchase, and The Customer’s order is canceled, imastudent.com shall issue a full refund to The Customer’s payment mode in the amount of the incorrect price.
Assignment and Subletting of Leased Equipment: The Customer shall not assign this Lease or its interest in the Equipment without the prior written consent of imastudent.com. Any Subletting of Equipment will be deemed as a break of the aforementioned Terms and Conditions and will result in the termination of the Lease Contract.
Governing Law: This Lease shall be construed and enforced according to the laws of India. The Customer and imastudent.com agree that the High Court of Telangana shall have exclusive jurisdiction over any dispute between you and imastudent.com, relating in any way to imastudent.com’s service, website, or this Agreement. imastudent.com reserves the right to cancel any order for any reason, including price mistakes. These Terms and Conditions will supersede any terms and/or conditions Lessee includes with any purchase order, regardless of whether imastudent.com signs the purchase order or not. imastudent.com reserves the right to make changes to these Terms and Conditions at any time.