Instrument Rental Terms and Conditions
“Kniskern Music House” will be referred to as “KMH”.
Term: Customer agrees to rent the instrument for the initial rental period. After the initial rental period if the customer wishes to keep the instrument, customer shall pay the monthly rental fee.
Termination: Customer may terminate the lease at any time by returning the instrument to KMH in good condition or notifying KMH that the instrument has been left in school and by paying all amount due to KMH. KMH is not required to refund for the unused portions of the initial rental or for the unused portion of any month.
Maintenance & Repair Coverage (M&R): KMH will pay for all labor on repairs not due to negligence as long as your monthly rental and optional M&R (maintenance & repair) payments are up to date.KMH will not cover repairs due to negligence or malicious damage. All repairs are to be made by KMH. If the account falls behind customer will be responsible for the overdue payments, repairs, and late fees. Service does not include expendable items such as reeds, strings, mouthpiece and caps, drum heads, drumsticks, etc… Under the M&R program, KMR will replace instrument with one of equal quality for a deductible charge of $50.00 or 20% of the value (wichever is greater). Proof of loss and circumstances satisfactory to KMH will be required. For the M&R coverage, the rental account must be current and the renter must file a police report within 24 hours and notify KMH within 48 hours of occurence of damage or loss. If M&R is waived, customer must pay KMH the cost of repair or the fair market value of the instrument within 15 days after billing of such charges.
Option to purchase: Customer may elect to purchase a full size instrument during the term of the lease by paying the balance of an instrument purchase price of a full size instrument chosen by KMH. 100% of rental payments of fractional size instruments are applied towards purchase price of full size instrument. KMH. will honor payments towards a full size instrument only for the child for whom thiscontract is deemed.
Late Charge: A late charge of $5.00 or ($15.00 for upgraded instruments) will be charged to customer’s credit card for any payment not received within seven days after the due date.
Non-payment of Rental: Reinstatement: If customer does not make payment when due, does not contact KMH with updated credit card, and has not returned the instrument within 10 days after the first of month due date than than customer shall be deemed to be liable to KMH for the purchase price of instrument less applicable credits provided that customer does not reinstate this agreement as set forth in state law.
Instrument Return: An instrument must be returned on or before the due date to avoid paying another month’s rent. If the instrument is lost, stolen, or destroyed during the lease term, customer shall be liable to KMH for the purchase price of the instrument less applicable rental credits.
Default: If customer defaults in any payment or obligation KMH refers this matter to a collection agency or attorney for collection, then customer agrees to pay, in addition to any sums due to KMH the reasonable collection agency or attorney feeincurred plus court cost and interest from total amount due at the rate of 24% per annum.
Ownership: Customer does not own the instrument until all necessary payments have been made to purchase the instrument as selected by Kniskern Music.
Warranty: Instrument maintains manufacture’s warranty, absent damage or negligence.
Credit Card: KMH is authorized to process rental payments on the payment due date until this lease is terminated or customer gives written notice not to use the credit card for payment. Instrument payment is due the first of every month starting on January 1st, 2016.