THIS AGREEMENT is made on…… this….. day of….. between Mr. A carrying on business at… hereinafter referred to as ‘the Owner’ of the One Part and Mr. B residing at……… hereinafter referred to as ‘the Hirer’ of the Other Part. WHEREAS the Owner is carrying on business of dealing in furniture and has its office and showroom at (details of address) AND WHEREAS the Hirer has agreed to take on hire some pieces of furniture for furnishing his newly purchased and occupied Flat at (address) and which the Owner has agreed to give on hire to the Hirer on the following terms and conditions.
NOW IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS: –
- The Owner agrees to give on hire and the Hirer agrees to take on hire the items of furniture which are mentioned in the Schedule hereunder written for a period of…….. years (or as long as the Hirer desires). The said furniture has been delivered by the Owner to the Hirer and the latter acknowledges receipt thereof.
- The Hirer agrees to pay to the Owner by way of hire charges a sum of Rs…. as the lump-sum amount for all the Items of furniture mentioned in the Schedule annexed herewith for the payment of each month.
- The said charges will be paid by the Hirer to the Owner in advance on the 5th day of each month hereafter during the period the hire continues. The proportionate hire charge for the current month has been paid by the Hirer on the execution of this agreement.
- The hire charges will be paid by the Hirer as aforesaid at the place of business of the Owner aforementioned punctually on or before the fifth day of each month as before mentioned….
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