Terms of Lease

📍 Tbilisi, Georgia

On the one hand, Ecorent LLC (ID code 405695190) (hereinafter the “Lessor”), and on the other hand, (ID code ) (hereinafter the “Lessee”), hereby enter into this Agreement on the following terms:

Daily ratePaid in advance, as agreed with the company

2 daysTo report defects or claims after receiving the equipment

Before 10:00If returned before 10:00, the previous day counts as the last day

0.5%Penalty for each day of late payment

5 daysAdvance notice for early termination

1Subject of the Agreement

1.1

Under this Agreement, the Lessor transfers and the Lessee accepts for temporary use the following property owned by the Lessor: (hereinafter the “Leased Object”), and the Lessee undertakes to pay the fee established by this Agreement.

1.2

Specifications of the Leased Object:

1.3

The Leased Object is transferred to the Lessee from 00.00.2024 to 00.00.2024.

1.4

Billing for the Leased Object starts from 00.00.2024.

2Rental Price and Payment Terms

2.1

The daily fee for using the Leased Object (hereinafter the “Rent”) is GEL 000.00.

2.2

The Rent is paid in advance, as agreed with the Lessor.

3Obligations of the Parties

3.1. The Lessee shall:

3.1.1

Use the Leased Object only for the purpose stipulated in this Agreement and not allow its function to be changed without the Lessor’s consent;

3.1.2

Pay the Rent in the manner and amount established by this Agreement;

3.1.3

Take care of the Leased Object and strictly observe fire safety and other technical safety rules;

3.1.4

Take all necessary measures to protect the Leased Object from the risk of damage, and in case of damage caused by the Lessee’s fault, immediately notify the Lessor and eliminate the damage at its own expense in accordance with the Lessor’s instructions;

3.1.5

With the Lessor’s consent and at its own expense, carry out routine repairs and improvements to the Leased Object to ensure its normal operation; such repair and improvement costs shall not be reimbursed to the Lessee or offset against the Rent;

3.1.6

Pay on time all charges related to the leased property at the applicable rates;

3.1.7

Not take any action that would cause a significant change to the leased item without the Lessor’s consent;

3.1.8

Compensate the Lessor for any damage caused to the leased property as a result of the Lessee’s unlawful actions;

3.1.9

Upon cancellation or termination of the Agreement, return the Leased Object in the condition it was in at the time of handover, allowing for normal wear and tear;

3.1.10

Not sublease the Leased Object or transfer it to third parties in any other form of use without the Lessor’s consent;

3.1.11

Strictly follow the operating rules of the Leased Object;

3.1.12

Under personal responsibility, strictly observe the safety rules for operating the Leased Object;

3.1.13

Comply with the rules of this Agreement;

3.1.14

Comply with the terms of this Agreement.

3.2. The Lessor shall:

3.2.1

Assist the Lessee in obtaining all necessary documents (certificates, permits, etc.) that may be required by authorities, including supervisory bodies, during the use of the Leased Object, including when carrying out reconstruction or other alterations agreed with the Lessor;

3.2.2

Ensure the Lessee’s uninterrupted use of the Leased Object and not hinder the Lessee in exercising its rights under this Agreement;

3.2.3

Comply with the terms of this Agreement.

4Handover and Return of the Leased Object

4.1

Upon receiving the Leased Object, the Lessee shall immediately inspect the technical condition of the equipment. If any defect is found or there is any claim regarding the equipment, the Lessee shall notify the Lessor no later than 2 (two) days.

4.2

The Lessee shall return the Leased Object to the Lessor in the same condition in which it was received, allowing for natural wear and tear.

4.3

The return of the Leased Object shall be confirmed by the signatures of the Parties.

4.4

The rental period starts when the Lessee takes the equipment out of the Lessor’s base and ends when the Lessee returns it to the Lessor’s base (or, if the Lessor hands the equipment over to the Lessee outside the base, upon completion of the accompanying documentation).

4.5

For calculating the rental duration (“rental day”), the first day is the day of handover and the last day is the day the equipment is returned to the base. If the Leased Object is returned before 10:00, the previous day is considered the return day.

4.6

The Lessor shall compensate the Lessee for the number of days lost.

4.7

The Lessor has the right to refuse to accept the equipment back and to demand compensation from the Lessee for repairing it or purchasing a new one, if the returned equipment is unfit for further use or significantly damaged.

5Liability

In case of non-performance or improper performance of the obligations under this Agreement, the Parties shall be liable in accordance with this Agreement and the legislation of Georgia. The Party in breach shall compensate the other Party for any damage caused by the breach.

5.1

The Lessee is responsible for paying the Rent in the manner set out in this Agreement.

5.2

The Parties undertake to immediately provide each other with any significant information that may affect this lease relationship, in particular to notify each other of any legal or other risks that may result in destruction, damage, encumbrance with property or other rights, alienation, and/or any other outcome that would make the use of the Leased Object impossible or difficult.

5.3

In case of late payment of the Rent, the Lessor is entitled to demand from the Lessee a penalty for each day of delay in the amount of 0.5% of the overdue amount.

5.4

If the Lessee’s right to use the Leased Object is restricted through the Lessor’s fault, the Lessee is entitled not to pay the Rent for the entire period of the restriction and to impose on the Lessor a penalty of 0.5% of one month’s Rent for each day of restriction, which does not deprive the Lessee of the right to also claim compensation for damages incurred.

6Term of the Agreement and Early Termination

6.1

As regards the lease term, this Agreement is valid for the period specified in clause 1.3; as regards the Parties’ other obligations, it remains valid until those obligations are fulfilled.

6.2. The Lessor may terminate this Agreement early, without incurring any additional obligations, in the following cases:

6.2.1

If the Lessee materially breaches its obligations under the Agreement;

6.2.2

If the Lessee repeatedly breaches its obligations under the Agreement, having already been warned in writing;

6.2.3

If the Lessee intentionally or negligently worsens the condition of the Leased Object, causing damage to the Lessor;

6.2.4

By notifying the Lessee of termination 5 (five) calendar days in advance.

6.3. The Lessee may terminate this Agreement early, without incurring any additional obligations, in the following cases:

6.3.1

If the Lessor materially breaches its obligations under the Agreement;

6.3.2

If the Lessor repeatedly breaches its obligations under the Agreement, having already been warned in writing;

6.3.3

If the Lessee’s right to use the Leased Object is restricted through the Lessor’s culpable actions;

6.3.4

By notifying the Lessor of termination 5 (five) calendar days in advance.

6.4

The Agreement may also be terminated by mutual agreement of the Parties.

6.5

If the Agreement is terminated due to a material or repeated breach of its terms by either Party, the Party in breach shall fully reimburse the technical costs associated with termination (repair of the leased item, transportation and other similar costs).

6.6

Within 5 (five) calendar days of termination, the Lessee shall pay all charges and Rent outstanding as of that date.

6.7

If, after the Agreement expires, the Lessee continues to use the Leased Object and the Lessor does not object, the Agreement shall each time be deemed extended for one month on the same terms.

7Force Majeure

7.1

The Parties are released from liability for non-performance of their obligations under this Agreement if such non-performance is caused by force majeure (natural disaster, epidemic, war, etc.), the prediction or prevention of which is beyond the Parties’ reasonable control and capabilities. Force majeure events are events whose occurrence and development the Parties cannot influence.

7.2

A Party invoking force majeure shall immediately notify the other Party in writing of the occurrence of such events and, at the other Party’s request, provide a document confirming their existence, unless they are commonly known. If such events last more than 30 (thirty) days, the Parties are entitled to terminate the Agreement.

8Other Terms

8.1

A Party’s failure to exercise any right under this Agreement does not constitute a waiver of that right.

8.2

Upon expiry or termination of the Agreement, all improvements and repairs to the object that cannot be removed without damage and were agreed in advance with the Lessor remain with the Lessor, who shall pay the Lessee the fair value of such improvements, taking depreciation into account.

8.3

Improvements needed only by the Lessee due to the specifics of its business shall be dismantled at the Lessee’s expense.

8.4

If any provision of this Agreement becomes invalid, this shall not invalidate the entire Agreement or its other provisions.

8.5

This Agreement, with all its obligations, is binding on the legal successors of both Parties.

8.6

The Parties confirm that this Agreement has been concluded after reasonable consideration and that its signatories have the appropriate authority.

8.7

This Agreement contains all prior arrangements between the Parties. Any addition, amendment or correction has no legal force unless made in writing and signed by both Parties.

8.8

This Agreement shall be interpreted and governed in accordance with the legislation of Georgia.

Questions? Contact us: 501 114 114 · 500 114 114 · office@ecorent.ge