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RENEWABLE RENT TO OWN MUSIC DEVELOPMENT AGREEMENT
Table of Contents
- General Terms
- Comprehensive Repair and Replacement (R&R) Program (OPTIONAL)
- SMS Marketing Services (Optional)
- Privacy Policy
General Terms
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INITIAL PAYMENT
The first monthly payment is due upon the completion of this agreement, payable in advance.
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RENTAL PAYMENTS
Payment is due monthly on the contract date. You will only receive a monthly statement as a regular reminder when payment is not received by the due date; we do not bill. We recommend signing up for Automatic Monthly Payments with a card to ensure no payments are missed (see Automatic Payment Option below). Payments will be applied first to late fees and any other charges due and then to sales tax and rental payments. Payments are applied to past due payments first, then to current payments. You are responsible for all monthly payments, even if you do not receive a bill. Rental fees are not contingent on practice, school schedules or time in the repair shop.
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AUTOMATIC PAYMENT OPTION
If elected, lessee gives permission for David French Music to charge monthly rental payments to the credit or debit card provided. Payments will be charged monthly on the same date as the contract date (delivery date for online rentals). In the event that this date falls on a weekend or holiday, the payment will be charged on the business day prior to the payment date.
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OTHER FEES
A late fee of $5.00 will be charged for each monthly payment that is 15 days past due. There are no finance charges and no interest fees. A $25 fee is applied to all bounced check payments.
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REPAIR & REPLACEMENT PROGRAM
Lessee hereby agrees to assume liability against fire, theft, or damage (reasonable wear accepted) throughout the rental period unless Lessee elects the optional Repair & Replacement Program.
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EXCHANGE POLICY
In a continuous rental for a single student, principal payments may be applied towards the contract price when exchanging to a different instrument of the same type (winds/percussion or strings). If exchanging to an instrument with a lower contract price, there is no refund for any excess rental payments. Payments may not be applied towards more than one exchange. Rental rates in effect at the time of the exchange will apply.
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FRACTIONAL SIZE STRING POLICY
In a continuous rental for a single student with a string instrument smaller than a full size, 100% of principal payments on all fractional-sized instruments is applied to the contract price of a full-size instrument of the same type.
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RETURN OPTION/EARLY TERMINATION
Lessee may terminate this agreement at any time without penalty by returning the instrument in good condition, fair wear and tear accepted. Returning to our retail store directly is recommended. If Lessee is unable to return to us directly, contact us for alternate return options. DO NOT LEAVE THE INSTRUMENT AT SCHOOL WITHOUT ADVANCE AUTHORIZATION FROM DAVID FRENCH MUSIC. Music teachers and third parties are not responsible for the return of the instrument. Lessee is responsible for the instrument until it is returned to David French Music. All monthly rental payments and other charges must be paid to date at the time of return. Rental payments are not prorated and therefore cannot be refunded.
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DISCOUNTED PURCHASE OPTION
Instrument may be purchased at any time for a 30% discount. This is calculated by deducting paid principal from the original instrument price on this contract, subtracting 30% from the balance, and paying the difference plus applicable tax.
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DEFAULT & REPOSSESSION
Non-payment of one month's rental shall terminate this agreement, and DAVID FRENCH MUSIC CO., INC. reserves the right to retain possession of the instrument on sight or demand. DAVID FRENCH MUSIC CO., INC. reserves the right to charge past due rental fees and late charges to a credit card using the information provided to us. Lessee agrees to pay all costs and expenses incurred in Collection proceedings, including attorney's fees, collections, and court costs.
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TITLE
Title of ownership remains with DAVID FRENCH MUSIC CO., INC. through rental period. When regular payments equal the agreed purchase price of the instrument, title thereto will pass from David French Music Co., Inc. to the Lessee. If Lessee declares bankruptcy, we retain title, and the instrument must be returned to us immediately.
Comprehensive Repair and Replacement (R&R) Program (OPTIONAL)
All new instruments leased or sold carry a manufacturer’s limited warranty against defects from faulty materials or workmanship. In addition to this warranty David French Music Co., INC, will provide the following protection, during the rental period, for an additional monthly charge (amount shown on reverse). R&R fees paid during the lease do not apply to the purchase of the instrument.
This comprehensive R&R program with David French Music Co., Inc. is available only during the rental period and will not be provided when the lease ends. Failure to pay the R&R fees will terminate the repair and replacement coverage automatically.
The instrument will be replaced with one of equal quality at no charge in case of loss by fire or theft. THEFT MUST BE REPORTED TO LAW ENFORCEMENT AUTHORITIES AND TO DAVID FRENCH MUSIC WITHIN 48 HOURS AFTER DISCOVERY OF LOSS. Loss by fire must be reported to the fire department and David French Music within 48 hours of loss. You will be required to furnish a certified copy of the report to David French Music Co., INC, within 10 days.
All adjustments and repairs will be made to keep the instrument in proper playing condition, including replacing of parts. Coverage does not apply to willful or deliberate destruction nor the deterioration of appearance which does not affect the performance of the instrument, such as scratches, minor dents, and finish. Excluded from the coverage are drumheads, drumsticks, expendable accessories, and routine cleaning of instruments. David French Music Co., INC, or approved affiliate, must perform all services.
SMS Marketing Services (Optional)
David French Music Company’s SMS marketing solution is used by David French Music Company to educate, enjoy and maintain a musical instrument as well as to suggest other products, offer lessons and improve your shopping experience. By renting an instrument, you agree to receive recurring text notifications about product information, educational content, tips, tricks and request for reviews from us. By consenting to commercial text messages in David French Music Company’s SMS marketing in the checkout and initializing a purchase or subscribing via our subscription tools, you agree to receive additional recurring commercial text notifications in relation to your order, including without limitation text marketing offers and transactional texts, such as product information and offers and requests for reviews from us, even if your mobile number is registered on any state or federal do-not-call list. Message frequency varies. Consent is not a condition of purchase.
If you do not wish to receive such text marketing messages and notifications, reply with STOP to any mobile message sent from us. We may send a text in response confirming your request to us. We do not charge for the service, but you are responsible for all charges and fees associated with text messaging imposed by your wireless provider. Message and data rates may apply.
For any questions, please text HELP to the number you received the messages from. You can also contact us at www.davidfrenchmusic.com/t-contactus.aspx for more information.
We have the right to modify any telephone number or short code we use to operate the service at any time. You will be notified on such occasions. You agree that any messages you send to a telephone number or short code we have changed, including any STOP or HELP requests, may not be received, and we will not be liable for honoring requests made in such messages.
To the extent permitted by applicable law, you agree that we will not be liable for failed, delayed, or misdirected delivery of any information sent through the service, any errors in such information, and/or any action you may or may not take in reliance on the information or Service.
You agree that the telephone number you provided to us is yours and if your telephone number changes, you must notify us of your changed number.
Privacy Policy
Your right to privacy is important to us. You can see our Privacy Policy to determine how we collect and use your personal information.