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Kitchens and Cafes’ Equipment Lease Contract

This contract is made and entered on …………………….. G between:

  • Wosol for Communication & Information Technology Company, with commercial registration no.: (2052002870), herein referred to as “the First Party or Mediator”, and
  • Company ……………………………………………………………………………………………………… with commercial registration no.: (………………………………………….), herein referred to as “the Second Party or Lessee”

Whereas the First Party who acts as a Mediator and Representative of the Supplier whose details described in the Annex leases the central kitchen equipment through his online store, and whereas the Second Party desires to rent the equipment as per the details prescribed in the provisions of this Contract.

The parties agree in full legal capacity and legitimacy to:

1- Preamble:

The above preamble shall form an integral part of this contract.

2- Definitions:

  • Equipment’s Owner: The original owner of equipment provided to the Mediator for lease via his Website.
  • Website: rent.ekuep.com
  • Equipment: leased equipment as per this Contract, and contained herein in singular and plural form importing the same meaning.

3- The Purpose and Term of Lease Contract:

3.1 The Second Party shall rent the Equipment indicated in the Annex (A) for a period of ……………………………… from the date ………………………………., and the Contract shall not be renewed without written consent of the First Party.

3.2 The First Party shall install the Equipment on the site of the Second Party after the site becomes completely ready, and it shall not be deemed a breach in the commencement and validity of the Lease if the Equipment are moved to the site and the site of the Second Party is found to be not ready for any reason whatsoever.

3.2 If the Second Party keeps holding of the Equipment, a quotation shall be added for every extra day as detailed in the Contract Value.

4- The Equipment-use site:

The site where the Lessee shall use the Equipment shall be ………………………………………………………………………………………… and the Lessee may not move the Equipment to any other site without prior written consent of the Mediator.

5- The contract Value and Terms of Payment:

5.1 The monthly value of leasing the Equipment shall be ……………………………………………………………………………… SAR (………………………………………..SAR), and the Lessee shall pay the rent of the upcoming months for the first month before the first day of the unpaid month and in the case of delay he shall be liable to a 1% penalty per each day of delay paid to Albar Charity Association.

5.2 The Second Party shall make the payments concerning this Contract via monthly transfer into the bank account of the First Party and a notice of payment shall be sent to the address first written hereabove or by authorizing the Mediator of a Direct Debit from the Lessee’s credit card. The Annex sets the way chosen by the mediator to make the Contract’s payments.

5.2.1 Bank Details:

SABB Bank

Account Name: Wosol for communication & information technology.

Account No. 242086411001

IBAN No. SA3645000000242086411001

Swift Code: SABBSARIXXX

Address: Khobar, Saudi Arabia

5.3 To ship or install the Equipment in the site, the following must be fulfilled:

5.3.2 Paying the rent of the first month and paying the full rent for the period of Lease if the Lease Period is less than one month,

5.3.3 Paying the Security deposit, if any.

5.3.4 Installations fees, if any.

5.3.5 Paying the charges of shipping to the Second Party’s site as well as the charges of shipping to the First Party’s site, if shipping is incurred by the First Party.

5.4 If the Equipment remains in the site of the Second Party after the expiration date of the Lease Term or if the lessee wants to renew or extend the Contract Term without prior consent from the Mediator, the renewed term shall be accounted as per the Schedule shown in this Contract. and the Annex attached hereto.

5.5 If the Contract Term is renewed or expanded as per the consent of the Mediator, the Lease value shall be the same as the previous value agreed-upon in this Contract and the Annex attached hereto.

6- Warranties:

The Second Party shall be bound to give the First Party a Promissory Note containing the value of Equipment and as per the Annex 1. He also shall give bills of exchange for the value of each month of the Contract and the First Party shall return to the Second Party every paid bill.

7- Maintaining the rented property (Equipment):

7.1 The Lessee shall maintain the Equipment while it remains in the site until the Second Party receives it/them, he also shall be obliged to operate them per the norms considered by the manufacturer.

7.2 The Lessee shall conduct the required clean-up and readying works to operate the Equipment (per the manual of Equipment). This shall not include the maintenance works required for failures in workmanship or due the normal operation of the Equipment per the norms of operations considered by the manufacturer.

7.3 If the Equipment does not function properly due to misuse or operating Equipment by the Lessee, the Mediator shall provide maintenance services and the Lessee shall bear the costs.

8- Installation and removal of Equipment to and from the Second Party’s site:

Installation and removal of Equipment shall be per the Annex 1.

9- Confirming Receipt of Equipment:

9.1 The Second Party shall be obliged to sign the receipt of Equipment before being unloaded into his site. He must also notify the First Party with any defect or breakdown in Equipment or in the installation within 24 hours of receipt. In the event that the supplier does not receive any notifications in this regard during the period specified in this paragraph, the installation and operation of Equipment are deemed valid and possible to the extent achieving the purpose of this Contract.

9.2 If the Lessee is an individual, he must provide a copy of his ID and sign it indicating the reason of providing the Mediator with a copy of his ID (Leasing Equipment in accordance with this Contract).

9.3 In the event that the installation of Equipment is not needed, the receipt of the carrier chosen by the Second Party (per the list of carriers set out by the Mediator) is deemed the receipt of the Equipment issued to the Lessee. The Second Party must notify the First Party via Website of the First Party no later than 24 hours of delivery if there is any problem concerning the Equipment. If the supplier does not receive a notification in this regard, the Equipment shall be deemed to have been installed properly and operable to the extent achieving the purpose of this Contract.

10- SECOND PARTY’S OBLIGATIONS

10.1 The Second Party shall use the Equipment for the purpose for which it was leased in a proper and right manner and in accordance with the norms and rules of operation concerning the use, maintenance, storage and conditions of operation of the Equipment.

10.2 Unless the Lessee notifies the supplier that there is any breakdown in the Equipment as mentioned herein, the proper Equipment is deemed in working condition upon being delivered to the Lessee.

10.3 The Lessee shall keep on his own cost the Equipment in a good working condition during the Term of Lease.

10.4 The Lessee shall notify the Mediator with any breakdown in the Equipment within 24 hours from discovering, and shall bear the costs of repairing all damages caused to the Equipment (other than the damages arising from the normal and natural use and per the purpose intended from the Equipment).

10.5 In the case the Equipment is damaged or lost, the Lessee must pay to the Supplier the cost of replacing the Equipment as specified in the Annex 1. In addition, the obligations of this Contract remain effective until the completion of the Term, and the Lessee must pay to the Supplier the costs of repairing or replacing this Equipment immediately and the Mediator shall collect them through the Promissory Note issued from the Lessee.

11- Security Deposit:

The Lessee is obliged to pay a security deposit for the Equipment if the Mediator requires that and as per the Annex 1 and shall be retained by the Mediator as a guarantee for any breach of the obligations of this Contract by the Lessee. The Mediator shall return the security deposit to the Lessee within four days of receiving the Equipment provided that the Lessee fulfills all of his financial obligations hereunder. In the event that the Equipment, the subject of this Contract, sustains any damages, the Mediator has the right to deduct all or part of the security deposit to cover the value of damages caused to the Equipment.

12- Taxes:

The Lessee shall pay all taxes and fees for the sales, use, and properties, other taxes, fees, other tax values and governmental fees, including any penalties or interests thereon, that shall be imposed on or related to the leasing of the Equipment and for which bills shall be issued as part of the Lease value which the Lessee shall pay. The Lessee shall download any exemption certificates, if any, from the Website: Rent.ekuep.com for receiving the amount exempted from taxes under this Contract.

13- Cancellation or early return:

In case the Lessee cancels the contract before he receives the Equipment or before the date of completion of the Lease term indicated in this original Contract, the Lessee shall pay the cancellation fees according to the Schedule indicated in such contract.

14- Mediator’s responsibility:

14.1 The Mediator shall be a provider for the services of electronic sale and shall provide such electronic services as a leasing mediator between the Lessee and the Equipment’s Owner via the Website: rent.ekeup.com and through the “Ekuep.com” Company.

14.2 According to this Contract, the Mediator shall not be an agent for the Lessee nor the Equipment’s Owner;

14.3 The Mediator shall not present to the Lessee or the Equipment’s Owner any warranties of any kind including a warranty for Equipment’s compatibility or the Equipment’s intactness delivery by the shipping party, etc.

14.5 The responsibility of transporting the equipment shall be born by the shipping company chosen by the Lessee through the Website of the Mediator. The Mediator shall not be responsible for any default by the shipping company whether relating to the equipment’s intactness or the date of delivery to the site.

15- Force Majeure:

Neither party shall be deemed responsible for any default of this Contract in case they are unable to essentially perform part or all of their obligations due to circumstances beyond the control of such party including as means of example and not limited to: a breakdown in the machine (with the exclusion of breakdowns caused by deliberate actions or gross negligence caused by such party, their employees or their agents), fires, floods, epidemics, earthquakes, explosions, accidents, wars, blocks, blockades, acts of any common enemies, civil troubles or labour disputes. If the acts of the Force Majeure prevent the Supplier from fulfilling his obligations hereunder, the Lessee may terminate this Contract without bearing any responsibilities and may rent the equipment from any other Supplier. If the acts of the Force Majeure prevent the Lessee from fulfilling his obligations hereunder, the Supplier may terminate this Contract without bearing any responsibilities and may lease out the equipment to any other person or use such equipment.

16- Default of the Lessee:

16.1 If the Lessee fails to fulfill or perform his obligations hereunder, with the exclusion of acts of Force Majeure as stated in the clause of “Force Majeure” above, the Lessee shall be deemed in default of this Contract and shall indemnify for such default in a period of seven (7) days from the date of being notified of such default by the Mediator.

16.2 In case the Lessee did not correct such default within the specified time frame, the Supplier may (a) correct such failure or default and add the cost of such procedure to the financial obligations of the Lessee hereunder; or (b) release the Lessee of the obligations hereunder, if the Lessee defaulted, suspended his business works as a working establishment, or if it was possible or in case a petition was filed by or against the Lessee, the Supplier may immediately declare the Lessee in-default of his obligations hereunder.

16.3 In case the Lessee defaults in payment, the Mediator may hold the Lessee responsible for any differences between the rent that could have been due during the remaining period of the leasing term hereunder and any lease value payable by any prospective Lessee of the Equipment (minus the cost and expenses of re-leasing and owning), if any.

16.4 If the Mediator is unable to re-lease the Equipment during the remaining period of this Contract due to the Lessee’s default of payment, the Mediator may hold the Lessee responsible for the unpaid lease balance hereunder if the Contract is still valid.

16.5 If the Lessee defaults in payment in the specified date for one time, the Mediator may cancel the Contract and enforce all financial effects resulting therefrom in accordance with the Schedule stated in this Contract.

16.6 When executing this Contract and in all times during which the equipment is in the site of the Lessee, the Lessee shall grant the Mediator or Equipment’s Owner an irrevocable access right to the facilities of the Lessee for the purpose of running maintenance on the equipment or retrieval of the Equipment in case of the Lessee’s default.

17- Applicable law:

This Contract shall be governed by the Saudi Law (Code) inside the Kingdom of Saudi Arabia and by the Law of the Kingdom of Bahrain when outside the Kingdom of Saudi Arabia.

18- Failure of practice of rights by the two parties:

If any of the two parties fails to insist on the fulfillment of obligations of the other party hereunder, such matter shall not be interpreted as an assignment of any obligations of any party nor a violation of any subsequent obligation. It shall not be allowed to interpret the failure of any of the two parties to exercise a right or receive any indemnities that may be due under the law as an assignment of such right or other indemnities that may be due for such party by virtue of the law.

19- Attorney’s fees:

In the event of any litigation under this Contract, the losing party shall pay any or all commercial expenses including the legal expenses, attorney’s fees, and collection fees, for the execution of the terms and conditions of this Contract.

20- Miscellaneous:

20.1 This Contract and its Annexes attached hereto shall comprise the full understanding between the parties and shall supersede all previous understandings between the two parties with respect to the subject matter hereof. It shall not be allowed to modify the Contract’s provisions or assign any thereof unless by a written document of the two parties.

20.2 The Lessee shall under this Contract accept the electronic signature of any of the parties and such signature shall be binding and effective with respect to its legal and contractual effects.

21- Notifications and notices:

All notices, correspondences and notifications shall be according to the address defined in Annex 1.

22- Financial Schedule:

The following financial Schedule shall be applied for all of the Contract’s provisions which refers hereto and in accordance with the following:

Status

  • Canceling before 48 hours of delivery
  • Canceling within 48 hours of delivery
  • Not being in the location of delivery
  • Being late in returning the equipment

Financial corresponding

  • Free
  • Number of leased days (Max 2 days)
  • Number of leased days (Max 3 days)
  • Number of late days times (value of the day plus 15%)

In witness whereof, the following two parties set their hands and signed.

 

The Mediator (First party):

Wosol for communication & information technology

General Manager: ……………………………………………………….

Signature: ……………………………………………………………………….

Date: ………………………………………………………………………………….

 

 

 

 

Lessee (Second party):

……………………………………………………………………………

General Manager: ……………………………………………………………………………………..

Signature: ……………………………………………………………………………………………………..

Date: ………………………………………………………………………………………………………………..

 

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