This Medical Device Rental Agreement ("Agreement") is entered into between the "Renter" and the "ZIVE" (collectively referred to as the "Parties") on this [Date of Agreement].
1. Device Description:
The Provider agrees to rent to the Renter the following medical device(s) (the "Device"):
Device Name: ZIVE ECG1
2. Rental Term:
The rental term shall begin on the next day after shipment and last one week unless extended or terminated as per the terms of this Agreement.
3. Rental Fee:
The Renter agrees to pay the Provider a rental fee of 120 Eur per Week, due and payable in advance. Late fees may apply for overdue payments as outlined in Section 5.
4. Security Deposit:
The Renter shall provide a security deposit of 250 Eur before taking possession of the Device. The security deposit shall be refundable within 10 days after the Device is returned in good condition, less any deductions for damages or outstanding rental fees.
5. Late Fees:
If the Renter fails to make payments as outlined in Section 3, a late fee of 50 Eur per day shall be charged for each day the payment is overdue.
6. Maintenance and Repairs:
The Renter is responsible for maintaining the Device in good working condition during the rental period. The Renter agrees not to attempt any repairs without prior written consent from the Provider. In case of any damage or malfunction, the Renter shall immediately notify the Provider. The Provider will be responsible for repairs and maintenance, provided the damage is not due to negligence or misuse by the Renter.
7. Insurance:
The Renter is responsible for insuring the Device against loss, theft, or damage while in their possession.
8. Return of Device:
Upon the expiration or termination of this Agreement, the Renter shall return the Device in the same condition as it was received, except for normal wear and tear. Failure to return the Device may result in the forfeiture of the security deposit.
9. Termination:
Either party may terminate this Agreement with written notice of at least [Notice Period] days. The Renter is responsible for returning the Device promptly upon termination.
10. Liability:
The Provider shall not be liable for any injury, damage, or loss resulting from the use of the Device during the rental period. The Renter assumes all responsibility for the proper use and handling of the Device.
11. Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of Lithuania. Any legal action arising from this Agreement shall be initiated in the appropriate court of [Jurisdiction].
12. Entire Agreement:
This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements, written or verbal. Any changes or modifications to this Agreement must be in writing and signed by both Parties.
13. Severability:
If any provision of this Agreement is deemed to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
By signing below, the Parties acknowledge their understanding and acceptance of the terms and conditions of this Medical Device Rental Agreement.