JW Music Rental Terms & Conditions
The monthly rental fee is due 30 days after the initial down/ﬁrst payment is made and each month thereafter until the instrument is paid for in total or the instrument is returned.
There is NO INTEREST CHARGE, NO FINANCE CHARGE, NO SERVICE CHARGE, NO MAINTENANCE CHARGE, for the instrument.
All payments including the down/ﬁrst payments and the monthly rental payments go towards the total cost in the purchase of the instrument. Buyer may pay the contract in full at any time before maturity. There is no discount at any time for early payment in full.
Late Charges and Costs of Collection
If the monthly payment is 10 days or more late, the buyer will pay the delinquency charge of ﬁve percent (5%) of such payment, but no more than $5.00, with a minimum of one dollar ($1.00). The buyer will be responsible for the payment of any actual costs and reasonable costs of collection of the musical instrument if the buyer fails to communicate the seller for a period of forty-ﬁve (45) days after any default in making payments due under this contract.
Return of the Instrument
If the instrument is returned, this contract will be cancelled and the buyer shall not be liable for any future payments. The buyer, however, is liable for all rental payments to the date of return of the instrument and for any damages that may have occurred while renting the instrument. The buyer will forfeit the down/ﬁrst payments and all payments made toward the purchase of the instrument unless the buyer has made payments totalling 60% or more of the purchase price. If the buyer has made payments totalling 60% or more of the purchase price and the instrument is returned to the seller, the seller will sell or lease the instrument within 90 days and account to the buyer for any surplus.