1. CREDIT TO PURCHASE OPTION
The first twenty-four (24) months of rental payments will accumulate as credit that the customer may apply towards the purchase of a new full size instrument from WEXFORD VIOLINS at the current manufacturer’s suggested retail price. The credit must be used towards a new full size instrument of equal or greater value than the rented instrument. Credit cannot be used towards accessories, bows or repairs. Credit cannot be transferred or combined with another rental account or discounted rate. Credit will only accrue when the account is kept current. Accumulated credit may be used at any point during the rental period. If the customer does not choose to purchase an instrument by the end of the 24th month of rental, the contract will continue at the same rate; at this point the payments will become strictly payment for use of the instrument and the rental credit will neither increase nor decrease so as long as the account is kept current and open. Once the instrument is returned and the rental account is closed, the accumulated rental credit is only valid for 30 days.
2. The renter is responsible for the rented instrument.
If the instrument is lost, stolen, damaged or destroyed, the renter will reimburse Wexford Violins for the cost of repair or replacement. If rental payments are current, instrument maintenance and adjustments for normal use or weather related issues such as peg adjustments and gluing of open seams and loose fingerboards, are included free of charge throughout the rental period. String replacement are not included.
3. Damage Protection Plan
The optional damage protection plan covers any accidental damage to the instrument. It does not cover loss, intentional damage or string replacement. In the first instance of accidental damage 100% of the repair or replacement cost will be covered by Wexford Violins. Each subsequent accident will incur a 15% deductible.
4. Any instrument or bow can be exchanged for another size at any time at no additional charge.
5. Credit Check
Wexford Violins reserves the right to perform credit checks on applicants. If the rental instrument is to be kept at address other than above, or if the billing address changes, Wexford Violins must be informed of those changes. This is the responsibility of the signee.
After the three month initial, Payments are due on the fifteenth (15th) of each month. Payments are made in advanced and will not be prorated.
7. Return PolicY
The instrument may be returned at any time at which point your account will immediately be closed. The initial payment is non-refundable. Instruments returned after the 15th of the month will be charged the full monthly rate. If you wish to return the instrument to school, Wexford Violins must be notified for pick up. Otherwise, you will be held responsible for any further payments, loss or damage. DO NOT LEAVE THE INSTRUMENT AT SCHOOL WITHOUT NOTIFYING WEXFORD VIOLINS.
8. PAST DUE ACCOUNT
Rental payments made more than 15 days after the due date will be charged a $4.00 late fee per month. Each month the account is past due an additional late fee or an amount determined by a periodic rate of 1.5% per month to the unpaid balance will be charged.
9. Returned Checks
A $15.00 fee will be charged for checks returned for any reason.
10. ALL ACCOUNTS THAT ARE SERIOUSLY PAST DUE ARE TURNED OVER TO COLLECTION AGENCIES.
If after 60 days no payments or other arrangement had been made, the instrument will be considered purchased. The balance of the current market value plus all late fees incurred will be due immediately. In addition, the account will be billed for all collection, expenses, court costs and attorney’s fee.
RENTER’S ASSENT- I have read and understood this agreement and agree with all its terms. I hereby authorize Wexford Violins to charge my accounts until I return the rental outfit. This authorization is valid until I provide Wexford Violins with a written cancellation.