Equipment Rent-to-own Terms and Conditions

The Client agrees with Stanley Packaging as follows:

1. ACQUISITION AND DELIVERY

1.1 In addition to the rent payments set out herein the Client shall pay and be responsible for all costs of delivery, installation and set-up.

1.2 Stanley Packaging is not responsible for any delay in the delivery of the Equipment or for any loss or damage arising out of the delivery installation or set up of same.

2. OWNERSHIP OF EQUIPMENT

The Equipment is and shall remain during the currency of this Agreement, the sole property of Stanley Packaging.

3. CLIENT’S RESPONSIBILITIES

3.1 Must pay all payments as set out in this Agreement and, in respect of rental instalments, to pay by way of periodic Bank debit as specified by Stanley Packaging;

3.2 Use the Equipment in a skilled and proper manner and shall at its expense keep the Equipment in good and substantial repair and condition (fair wear and tear excepted);

3.3 To fully comply with the manufacturer’s instructions and recommendations relating to the Equipment;

3.4 At all reasonable times to make the Equipment available for inspection and servicing by Stanley Packaging service personnel at the times recommended by the manufacturer of the Equipment;

3.5 Not to alter or modify or mark the Equipment in any way without the express written consent of Stanley Packaging;

3.6 Not to remove or operate the Equipment in any place other than that nominated in this Agreement without the express written consent of Stanley Packaging;

3.7 At the Client’s expense insure and keep insured the Equipment during the currency of this Agreement against fire, theft, loss or damage for the full insurable value of the Equipment in the name of Stanley Packaging with an insurance company approved by Stanley Packaging and to deliver such policy or policies to Stanley Packaging.  If the Equipment is damaged or destroyed all insurance monies payable shall be received by Stanley Packaging which shall apply such monies in making good the damage or replacing the Equipment as Stanley Packaging deems fit;

3.8 To indemnify and keep indemnified Stanley Packaging against all loss of or damage to the equipment howsoever caused

4. PERSONAL PROPERTY SECURITIES ACT 2009 (“PPSA”)

4.1 (Registration) Stanley Packaging may refuse to sell, hire or supply goods to the Client until the Client provides all details and data needed to register a “financing statement” or “financing change statement” under the PPSA with respect to any security interest the subject of these Terms.

4.2 (Application of payments) If the Client makes any payment to Stanley Packaging, Stanley Packaging may apply the payment to satisfy any obligation of the Client to Stanley Packaging (whether unsecured, secured by security interest, or secured by purchase money security interest).  Stanley Packaging may: (a) apply the payment in any order or manner that it (in its absolute discretion) thinks fit; and (b) amend or re-apply any application made.

4.3 (Exclusions) Sections 95, 121(4), 125, 130, 132(3)(d), 132(4), and 135 of the PPSA are excluded and contracted out of to the full extent permitted by section 115 if the PPSA.  The Client waives the right under PPSA section 157 to receive a notice in relation to registration events which relate to collateral described in the registration as commercial property.

5. DETERMINATION OF AGREEMENT ON DEFAULT

5.1 Stanley Packaging may determine this Agreement upon the happening of any of the following events, each of which constitute an act of default by the Client or failure to comply with any terms or conditions of this Agreement;

5.2 In the case of the Client being a Company:

1. a) an application or order is made or a resolution passed for the winding up of the Company or the Appointment of an Administrator;
2. b) a Provisional Liquidator or Administrator is appointed to it;
3. c) a Receiver or Receiver/Manager is appointed to is or if a Mortgagee or Charge takes possession of all or any of the Client’s undertaking or assets.

6. STANLEY PACKAGING RIGHTS ON DEFAULT

6.1 In the event of a default by the Client the Client grants Stanley Packaging has the right to determine this Agreement and enter any land or premises occupied by the Client and retake possession of the Equipment.

6.2 The determination of this Agreement shall not affect the right of Stanley Packaging to recover from the Client all and any monies due and owing to Stanley Packaging under this Agreement or damages for breach thereof.

7. STANLEY PACKAGING RIGHT OF DETERMINATION FOR LOSS OR DAMAGE

In the event that the Equipment is lost, stolen or damaged beyond repair or destroyed Stanley Packaging may at its option terminate this Agreement by notice to the Client.

8. EXCLUSION OF WARRANTIES

8.1 The Client acknowledges and agrees as follows:

8.2 prior to signing this Agreement it examined the Equipment and satisfied itself as to the condition, quality, title, suitability and specifications of the Equipment and its fitness for the Client’s purposes;

8.3 It has relied solely upon its own judgment in all matters relating to the selection of the Equipment and that neither Stanley Packaging nor any person on its behalf have given any warranty or representation as to its condition nor performance ability or suitability for any particular purpose;

8.4 So far as the law permits, that any warranties which may be complied by law or statute, be excluded.

9. NON ASSIGNMENT OF THIS AGREEMENT

The Client shall not without the express consent in writing from Stanley Packaging assign or attempt to assign its rights under this Agreement to any other person.

10. MAINTENANCE OF EQUIPMENT

10.1 General maintenance of the tools will be carried out on a regular basis to ensure efficiently working tools to reduce downtime.

10.2 All standard repair work on tools and all parts on the tools are the client’s responsibility.

10.3 All damage to tools to be client’s responsibility.

11. 11.VARIATION OF THIS AGREEMENT

The parties acknowledge and agree that any variation to this Agreement sought by the Client shall not be effective unless it is expressly agreed to in writing by Stanley Packaging.

12. RENT-TO-OWN-AGREEMENT

The pallet wrapping machine is available for rent. Upon completion of a continuous rental period of twenty-four (24) months, ownership of the machine shall be transferred to the Client without additional purchase cost. This arrangement constitutes a rent-to-own agreement.

13. MISCELLANEOUS

13.1 This Agreement is governed by the laws of the State of Victoria.

13.2 The Client authorises Stanley Packaging to complete any blank spaces in the Schedule including but not limited to dates, serial numbers and identification details of the equipment.

13.3 Any notice or demand to be given by Stanley Packaging to the Client may, in addition to any other manner in which it may be given, be sent by prepaid post, or transmitted by facsimile, addressed to the Client at the last known place of residence or business of the Client and shall be deemed to have been received: if delivered, on the day of delivery; if sent by pre-paid post, on the second business day following posting; and if transmitted by facsimile, on the day of transmission if a business day, or otherwise on the next business day.