THIS AGREEMENT made. This day of., 2000, between A son of B resident of. (hereinafter called “the owners”) of the ONE PART and C son of D resident of. (hereinafter called “the hirer”) of the OTHER PART. WHEREAS the owner is the owner of a motor vehicle, more particularly described in the Schedule hereto and the hirer has approached the owner to let the said vehicle on hire to him, to which the owner has agreed and has assured the hirer that he shall have and enjoy quiet possession of the said vehicle. AND WHEREAS the owner has further assured the hirer that he shall have the right to sell the said vehicle at the time the property is to pass and the said vehicle is free from any charge or encumbrances in favour of any third party at the time when the property is to pass.

• Hire Purchase Agreement Sample
• Hire Purchase Agreement Form

HIRE PURCHASE AGREEMENT. CUSTOMER DETAILS AS PROPOSED Quote Ref: Between: Agreement No: US, the Company: Close Finance (CI) Limited of PO Box 483, Conway House.

AND WHEREAS the hirer has inspected the said vehicle and is satisfied about the same and considers it fit for the purposes for which he requires the same. NOW IT IS AGREED BETWEEN THE PARTIES AS FOLLOWS: 1. The owner will let and the hirer will take on hire the vehicle more particularly described in the Schedule hereto.

The owner has delivered the said vehicle to the hirer and has vehicle allowed the hirer to use the said vehicle in the usual manner. In consideration of the delivery of the said vehicle to the hirer, the latter has paid in advance a sum of Rs. As first installment on hire (the receipt whereof the owner hereby acknowledges) and will punctually pay to the owner at his place the sum of Rs. Every calendar month by way of rent for the hire of the said vehicle, the first payment to be made on the. And each subsequent payment on the. Day of every succeeding month.

Hire Purchase Agreement Sample

During the continuance of hiring, the hirer shall- (i) Not sell, assign, pledge, mortgage, underlet, lend or part with the possession of the said vehicle and not allow the said vehicle to be used by anybody else or kept or detained or run for the use of any other person. (ii) Not take the said vehicle out of the city of. Unless he has obtained a permission in writing from the owner in that behalf and if the owner grants permission subject to certain terms and conditions, the hirer shall abide by all the terms and conditions imposed in respect of such permission. (iii) Pay all licence duties, fees, registration and other charges taxes, payable in respect of the said vehicle and keep the said vehicle in a good repair condition and working order and will permit the owner and persons authorised by him to have access to the said vehicle for the purpose of inspecting the condition thereof.

Hire Purchase Agreement Form

In case the hirer fails or neglects to cause the said vehicle to be repaired or kept in a proper state of repair, the owner shall be entitled but shall not be bound to do,so, to seize or cause the said vehicle to be seized and to get the same repaired and to keep the said vehicle in his custody till the hirer pays the bills for repair of the said vehicle. (iv) Keep the said vehicle insured and kept insured so long as the hiring shall continue in the joint names of the owner and the hirer against all risks and the hirer shall pay all the premiums payable to the insurance company. On the hirer becoming the owner of the said vehicle under the terms of this agreement, the owner will transfer to the hirer the benefit of any insurance policy then current relating to the said vehicle. (v) Make good to the owner all damages to the said vehicle (fair wear and tear excepted) and pay the owner the full value of the said vehicle in the event of its total loss. (vi) Indemnify the owner against claims by third parties arising by accident caused by the said vehicle until the said vehicle is returned to the owner or purchased by the hirer in terms of this agreement. (vii) Not use or permit or suffer the said vehicle to be used in contravention of any law for the time being in force.