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Paid annually for two months of free use
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TERMS OF AGREEMENT The undersigned ("Client") and Shar Products Company ("Shar") agree that Shar will rent to the Client the item(s) described at the stated rental fee. This agreement commences on the initial date of the agreement and continues until the instrument is returned. Returns received 3 business days before the scheduled MI Rentals payment date will not be charged for the next month's payment. Customer is responsible for the full month's payment and payments will not be "pro-rated". The Client agrees to pay for the entire replacement value of the instrument, bow, and case for failing to return the instrument(s) or failing to update automatic payment information within 90 days of change. Client understands that this is an open-ended agreement and she/he may terminate this agreement at any time upon return of the instrument to Shar, however, no reimbursements for payments already made will be given. Client agrees that they will not transfer the rented items outside the state of Michigan and further agrees that if they do transfer the rented items outside the state of Michigan that they will be deemed to have immediately purchased the items and that the full replacement value of the items will be immediately due and payable. PAYMENTS The Client promises to remit the stated payment monthly according to the terms stated above, beginning on the date of the rental agreement. Shar may change the monthly payment amount after giving at least 30 days notice to the Client. The Client agrees to update credit card and/ or bank draft account information within 30 days of expiration or change. The Client agrees to allow Shar to charge his/her account on subsequent billing dates if payment is not received on the due date. A reprocessing fee of $5.00 will be charged each month a payment declines. Accounts that are 90 days past due or more will be sent to an outside collections agency. Any resulting fees or collections costs will be solely the responsibility of the Client, including the replacement cost of the unreturned instrument outfit, and any past due monthly payments. RENTAL EQUITY 100% percent of the Client's rental payments (pre-tax) may be applied within 60 days of the return of the rental instrument towards up to 50% of the purchase price of any one like instrument or Hoffmann level outfit sold at Shar, such as a violin for a violin. Rental Equity may not be used towards non-instrument purchases of any type, nor towards purchases of guitars, electric instruments, mandolins and ukuleles. Any remaining equity after purchase is null and void. Rental Equity will continue to accumulate when upgrading in size. Rental Equity is non-transferable. Rental Equity from one instrument may not be used toward the purchase of more than one single instrument. The Client agrees to forfeit any accumulated Rental Equity for failure to pay monthly rental fee or return instrument. Rental Equity may be combined with Rental Equity from other rental agreements within the same household, but only towards the purchase of one single instrument. May not be combined with any other offers or previously discounted merchandise, including blemished and trade-in instruments. OWNERSHIP/INSURANCE/REPAIRS Client acknowledges that Shar retains ownership of the item(s) rented, and the Client agrees to maintain the instrument in a reasonable manner for the duration of the agreement. In the event of incidental damage, Shar will conduct all necessary repairs, or an exchange will be made. Shar will replace broken or false strings, brand of strings to be determined by Shar staff at time of replacement. Costs associated with the repair of other incidental damage are covered as part of this agreement. In the event of malicious or negligent damage, Client is responsible for all costs associated with repairs or replacement. All repairs must be completed by qualified Shar technicians, repairs made by any other party will be at the expense of the Client. In the event the instrument is stolen, a police report will need to be provided to Shar by the Client in order for the Client to receive a replacement instrument, or for the agreement to be terminated. Client remains responsible for all payments and fees until the police report is received. EXCHANGE INSTRUMENTS Shar agrees to exchange rental items for another instrument of equal replacement value at any time, subject to availability, during the duration of this agreement. This is not a rent-to-own program. *Shar reserves the right to change the terms of this agreement, subject to 30 days notice given to the Client.
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