GENERAL CONDITIONS OF THE LEASE AGREEMENT

1.Parties of the Lease agreement

1.1. The Lessor is the company Veikand AS (register code 10313504, VAT nr EE100084450, location Välja tn. 7 Pärnu 80010, tel. +372 446 4930, e-mail and )

1.2. The Lessee can be any natural or juridical person over 18 years old, who has confirmed that he or she has examined these conditions and agrees to follow them before concluding a Lease agreement.

2. General provisions

2.1. The Lessor and the Lessee (herainafter called Parties) will be guided by this agreement, the Estonian Rental Law and other laws and normative acts valid in the Estonian Republic.

2.2. With this Lease agreement the Lessor will give the Lessee an Asset to use, the Lessee is obligated to pay rent for this Asset. (The Lessor and Lessee together will be called Parties from now on).

3. Object of the agreement and the deadline

3.1. By signing this lease agreement, both Parties confirm that the Asset has been given to the Lessee. From the moment the Asset has been received, the possession of the Asset transfers to the Lessee, as well as the risk of accidental loss and theft.

3.2. With the reception of the Asset, the Lessee confirms that he or she is conscious and has checked that the Asset is in good condition and without any defects or malfunctions. In case a defect or malfunction occurs during reception, the Parties will note this down in the Lease agreement.

3.3. The Lessee confirms that he or she is aware of the usage requirements concerning the Asset, is obligated to use this Asset prudently and follow other usage conditions determined by the manufacturer and the Lessor as well. The Lessee can not make any modifications to the Asset without a written consent by the Lessor.

4. Payments

4.1. The Lessee is obligated to pay rent for the usage of the Asset, which will be calculated using a one-month time period, provided that the Lease agreement does not say otherwise. The minimum lease period is 2 months. If the Asset is used for less than 2 months, the lease period is rounded up to 2 months, provided that the Parties do not agree otherwise.

4.2. The Lessee is obligated to pay rent to the Lessor once a month, according to the prices set in the Lease agreement. The rent is to be paid no later than on the 15th date of a current month. The rent will be paid as a prepayment. When the rental period is over, an equalization will be made on the last month.

4.3. VAT ( 20%) will be added to the rent payment.

4.4. The rent payment for a current month will be paid for in cash or using bank transfer, according to the invoice presented by the Lessor.

4.5. When the rent payment is delayed, the Lessor has a right to demand an overdue interest of 0,5% of the payment amount for each day overdue.

5. Rights and obligations of the Lessee

5.1. The Lessee has the right to:

5.1.1. be involved in independent economic activities and use the Asset in accordance with its purpose;

5.1.2. demand a premature termination of the Lease agreement, according to the terms set in the Lease agreement.

5.2. The Lessee is obligated to:

5.2.1. service and repair the Asset at his or her own expense and guarantee the preservance of its good condition, coordinate all repair/maintenance activities with the owner of the Asset and, if necessary, order the required maintenance activities from the owner or from an approved service partner of the owner. Also, the Lessee is obligated to pay for the ordered service activities based on an applicable price list.

5.2.2. use only technical components which are approved by the owner in order to prevent equipment deterioration. If the Lessee wants to use alternative components, a written consent of the owner is required.

5.2.3. not to hand the Asset over to any third parties to use or sublease without a written consent of the owner.

5.2.4. immediately take (if an emergency, fire or any other accidents occur) all the necessary steps to avoid damage to the Asset or minimize the odds of possible damage to the Asset, and to eliminate the consequences. Also, to immediately inform the Lessor of any accident concerning the Asset.

5.2.5. inform the Police and the Lessor immediately when a robbery and/or robbery attempt has occured.

5.2.6. obey the set fire, health, safety and accident prevention rules concerning the usage of the Asset;

5.3. Inform the Lessor immediately if:

5.3.1. The Asset is damaged and/or destroyed partially or totally;

5.3.2. Other circumstances occur, that make the fulfillment of the Lease agreement difficult or impossible.

6. Rights and obligations of the Lessor

6.1. The Lessor has a right to reclaim the Asset from whichever illegal property and demand damage compensation, which has been caused by third parties or the Lessee.

6.2. If the Lessee does not fulfill any requirement of this Agreement, the Lessor has the right to terminate the Agreement and reclaim the Asset from the Lessee immediately.

6.3. If the Asset has been damaged during the Lease agreement, the Lessee must immediately compensate the damage caused to the Lessor in full extent.

6.4. The Lessor is not responsible for any loss caused to the Lessee due to the Asset becoming partially or totally unusable.

6.5. The Lessor is obligated to give the Lessee all the necessary documents and safety guidelines needed for the operation of a particular device.

6.6. The Lessor is not responsible for any work-related accidents which have happened in the Lessee´s company during the operation of a particular device.

7. Termination of the Agreement and the premature termination of the Agreement

7.1. Upon termination or premature termination of the Agreement, the Lessee will return the Asset to the Lessor in the same condition as originally received, considering the normal wear of the Asset.

7.2. When the return of the Asset is delayed, the Lessee has an obligation to pay a fine to the Lessor for every day overdue. The size of the fine is 0,5% of the Rent amount per day.

7.3. The Lessee is obligated to return the Asset to the Lessor not later than the determined return date and in the same condition as originally received. The return of the Asset to the Lessor is confirmed in the Lease agreement via a note and a signature by a representative of the Lessor. The extension of the Lease agreement deadline must be confirmed by the Lessor in written form.

8. Other conditions

8.1. When concluding, filling, changing and extending the Agreement and applying the liabilities, the Parties are guided by this particular Lease agreement and the legislative acts of the Republic of estonia.

Download: General conditions of the Lease Agreement

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