RENTAL AGREEMENT FOR MOUNTAIN BIKE(S)
Date: ____ ____ ____
Reference № ____ ____ ____
ONE. GENERAL
1.1. Based on Chapter TWENTY-SEVEN of the Civil Code of Mongolia and other relevant legislations, this rental agreement (hereinafter referred to as “Agreement”) was concluded, upon mutual consensus and voluntary basis without any coercion, between FOUR WHEELER LLC (hereinafter referred to as “Renter”) and ______________________________________domiciled at ________________________________________(hereinafter referred to as the “Renter”; the Renter and Renter are collectively referred to as the “parties”).
1.2. The purpose of this Agreement is to define the rights and responsibilities of the parties arising with regards to the lease of the rental property, MOUNTAIN BIKEs (hereinafter referred to as “MOUNTAIN BIKE”), as well as the performance of rights associated thereafter such as riding.
1.3. No acts of violating public order shall be committed while riding within the scope of the Law on Traffic Safety, effective September 01, 2015, according to the Resolution of the Parliament.
1.4. I, the undersigned Renter, am expressly aware that speeding, riding up and down steep slopes, or crossing rivers beyond the approved safety limits pose risks. Furthermore, I fully understand that riding the MOUNTAIN BIKE may cause death or injury to myself as well as my property. Therefore, I assure you that the MOUNTAIN BIKE will be ridden according to traffic regulations and weather conditions.
1.5. I hereby warrant that I will fully review the manufacturer’s safety instructions and comply accordingly when riding the MOUNTAIN BIKE specified in the appendix.
TWO. RENTAL TERMS AND CONDITIONS
2.1. The Renter shall hand over the MOUNTAIN BIKE to Renter after relevant payments are made, and inspections are performed and logged.
2.2. The Renter shall return the MOUNTAIN BIKE at the end of the rental term on a specified calendar day when the inspection is performed and verified by the signatures of the parties.
2.3. The MOUNTAIN BIKE shall only be used for travel purposes in line with the specific itinerary.
2.4. The parties shall agree on the itinerary in detail.
2.5. The rental payment shall be calculated by hour, daytime or full day as specified in the appendix and shall be made either by cash or to the following accounts of FOUR WHEELER LLC:
MNT account # 5070982306 at Khan Bank
MNT account # 463018404 of Trade and Development Bank.
2.6. The Renter shall place a deposit with the Renter to ensure liabilities for the risks that I occur as a result of the Renter’s wrongdoing. The deposit is non-interest-bearing and non-refundable. Penalty fees, additional payments, service fees, payments for damages or spare parts, compensations, and checkup fees may be deducted from the deposit amount.
2.7. Penalty for late return shall be a 20% increase in the rental tariff.
2.8. If the payments are not made on time, a fee of 3% shall be paid for each delinquent day.
2.9. A penalty shall be imposed if the MOUNTAIN BIKE is used outside of its intended purpose.
2.10. Cancellation of the approved itinerary more than 5 business days in advance shall result in a full refund. If such notice is delivered in less than 5 business days, 50% of the overall payment shall be deducted.
3. THREE. RIGHTS AND RESPONSIBILITIES OF THE RENTER
3.1. To perform official handover upon complete inspection of the rental MOUNTAIN BIKE verified by the signature of the parties.
3.2. To demand timely payment of the rental fee and to make claims to the Arbitration court of the Mongolian National Chamber of Commerce and Industry; The decision of the aforementioned court shall be final. Failure to comply with the contractual obligations shall lead to termination of the Agreement at the Renter’s discretion.
3.3. To transfer the relevant documents to the Renter during the handover of the MOUNTAIN BIKE such as the insurance agreement
3.4. To demand payment for the damages incurred and late return of the rental MOUNTAIN BIKE;
3.5. To ensure the preparedness of the MOUNTAIN BIKE for the journey in cases other than force majeure events such as natural disasters, public demonstrations, and disorders;
FOUR. RIGHTS AND RESPONSIBILITIES OF THE RENTER
4.1. To strictly adhere to the Traffic Safety Rules of Mongolia; Any liabilities associated thereof shall be borne solely by the Renter.
4.2. To avoid riding the MOUNTAIN BIKE while under the influence of alcohol, drugs, and psychotropic substances, or while sick or tired;
4.3. To ensure the integrity and cleanliness of the rental MOUNTAIN BIKE while using it for its intended purpose;
4.4. To hold the Renter harmless of any liabilities associated with injuries or loss of lives caused by the wrongdoings of the Renter or the passengers;
4.5. To strictly adhere to the contractual obligations and be liable for any damages and issues on the MOUNTAIN BIKE caused by one’s wrongdoing;
4.6. To ensure the repair and maintenance of the rental MOUNTAIN BIKE, in full; The standby caused by the repair and maintenance shall not affect the contractual performance.
4.7. To pay the rental fee, gasoline, and other expenses; The Renter shall bear all the costs (including preventative inspection, routine maintenance, fuel, and spare parts) during the course of the usage.
4.8. To avoid disposal of the rental MOUNTAIN BIKE such as re-lease, sales, or bestowal during the Agreement;
4.9. To be fully liable for compliance with traffic rules, safety, and sanitation procedures.
FIVE. MISCELLANEOUS
5.1. It is strictly prohibited to pledge the rental MOUNTAIN BIKE for loans or other obligations.
5.2. It is prohibited to service the rental MOUNTAIN BIKE using free or below market price spare parts (unless otherwise specified in the Agreement), use spare parts of other types of bikes, or allow temporary access by third parties.
5.3. Any disputes arising with regard to this Agreement shall be handled upon mutual consensus and any surviving disputes shall be resolved in accordance with the relevant laws of Mongolia.
5.4. The MOUNTAIN BIKE components include the lock key, helmet, tires, cargo rack, panniers, lights, and other gear.
RENTER / /