Instruments Owning Rent Agreement
NOTICE TO LESSEE––READ BEFORE SIGNING:
NOTICE: This contract oﬀers, for an additional charge, a liability damage waiver to cover damage to the property. Before deciding to enter this agreement, determine whether your homeowner’s or casualty insurance aﬀords your coverage for damage to the rental property and the amount of the deductible.
*Tax amount after initial payment is based on location of the customer
This is a legal binding contract.
Payments due every 28 days
The Golden Music rent-to-own program is the most efficient, affordable way to get high quality instruments featuring home delivery, school support, trade-up of instruments and a loaner program.
MAINTENANCE PLAN: covers nearly any repair needed on the instrument… the dog chewing it, the car running over it, spills, breaks, mishaps...not covered are neglect, abuse or purposeful damage. Cosmetic repairs that you request to be repaired may not be covered. The Maintenance Plan is mandatory because: 1. The instrument remains the property of Golden Music until the final payment is made, and we have a very strong interest to be sure that it is playing perfectly; that we are repairing it; and all that needs to be done for it gets done properly. 2. This instrument represents our store in all the settings it is used in and we want it working perfectly! 3. We want your student to have a working instrument at all times.
LOANERS: are available when repair or maintenance is necessary. Loaners are not guaranteed however. Sometimes we are out of an instrument category, if so we will expedite the process.
STRINGS: for violin, viola, cello and bass are covered no charge for the first 28 days.
BOWS: Rehair needs on student instrument bows are covered as needed with a bow replacement.
INCLUDED ITEMS: Rental items: Case, bow and instrument are covered by the maintenance plan and can be serviced as needed. Expendable items: Rosin, cork grease, reeds and oils are necessary to play the instrument. Initially, these items are included with the rental. Once the item has been used, it is the responsibility of the renter/contract holder/musician to get replacements as necessary.
THEFT OR LOSS: If there is a lost or stolen instrument, we cover up to $250 of the amount owed to us for insurance deductible. The customer is responsible for the rest of the balance. A police report is required.
PURCHASE: Equity is calculated from the rental fee excluding tax and maintenance plan. Equity can only be used for the same person that started renting. It may not be switched to anyone else. You may purchase your instrument for 25% plus tax off the remaining balance.
RENTAL INSTRUMENT CATEGORY DEFINED: Rental instruments include only: flute, clarinet, alto sax, tenor sax, trumpet, trombone, baritone, French horn, oboe, combo kit, percussion/bell kit, snare drum, violin, viola, cello, and string bass. Please note, guitars, drums sets, keyboards, or any other items are not available for rent or to trade credit to.
INSTRUMENT AVAILABILITY: Not guaranteed. Sometimes an item is out of stock.
RETURNING: You can return and cancel the contract at any time. Within five days after your due date, your payment (if made) will be refunded. Any unpaid balance and fees remain due. Simply bring your instrument to the store, or if you want pickup, phone or email us; there are no further charges, pending cooperation for arrangement of a mutually joint time to pick-up. You stand by until we have a delivery in your area, which we will phone you the day before to arrange.
LOSS OF RENTAL CREDIT WHEN RETURNED: If the instrument is returned, the credit accumulated is dissolved. It may not be moved to any other student or item not in the rental category.
EXCHANGING TO ANOTHER INSTRUMENT: The same student that started the contract may switch to any other band or orchestra instrument that we rent. You may be subject to a service fee to exchange. The credit is not transferable to any other store products, not saved on our books and not transferable to any other person or contract. If you go to a lower purchase priced instrument, only a proportion of credit is granted equal to the lower instrument’s purchase price divided by the high instruments price as a percentage which is then multiplied by the credit. The maximum amount which can be applied is up to 24 months of payments.
*THE TRADING AND CREDIT OPTIONS ARE ONLY AVAILABLE FOR THE ORIGINAL STUDENT WHO RENTED – YOU MAY NOT TRANSFER CREDIT TO ANY OTHER PERSON NOR TO ANY PRODUCT OUTSIDE OUR RENT-TO-OWN CATEGORY. IF THE ORIGINAL STUDENT IS NOT USING THE INSTRUMENT, ALL RENTAL PERKS AND OPTIONS ARE CANCELED.
Thank you! And we are looking forward to serving you for your musical needs!
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Document Name: Instruments Owning Rent Agreement
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