Home
Hi everyone!
I have a friend signed a contract for a rent to own second hand computer units.He overlooked at the contract were there are some incorrect information.We had been reviewed and found some errors in Rent to Own Contract Terms and Conditions which states in items:
2. PERIOD AND RENTAL: The term of this Rent to Own Contract is for twenty (15) months starting August 15, 2010 and expiring on November 15, 2011. Renter will pay EEI Trading the full monthly rental amount of THREE THOUSAND PESOS {Php3,000.00} for FIVE (5) at seven hundred pesos (P600.00) each, on or before the 5th day of every month for the duration of the contract. First payment due on September 5, 2010 and last payment on November 5, 2011.
4. DEFAULT: Upon failure of the Renter to make timely payments, PHP 50.00/day late fee will be imposed. If Renter fails to make payment, EEI Trading may treat such negligence as default and immediately retake possession of the Equipment without notice to Renter.”
The penalty which is about to pay are:
RTO 007
5-May-11 Penalty UNTIL May 23, 2011 (MAY RTO 007)
8 days x 6 units x P50 3,200.00 3,200.00
Penalty UNTIL June 21, 2011 (JUNE RTO 007)
6 days x 6 units x P50 1,800.00 1,800.00
Penalty UNTIL July 19, 2011 (JUNE RTO 007)
4 days x 6 units x P50 1,200.00 1,200.00
5-Aug-11 Computer Rentals RTO 007 (August 2011) - -
Penalty UNTIL Sept 22, 2011 (AUG RTO 007) 11,400.00 11,400.00
38 days x 6 units x P50
5-Sep-11 Computer Rentals RTO 007 (SEPTEMBER 2011) RTO007 3,000.00 3,000.00
Penalty as of Sept 30, 2011 (SEPT RTO 007)
15 days x 6 units x P50 4,500.00 4,500.00
What will be our action regarding these incorrect figures:
actual units is 5 here they want to pay 6, the one is P50 per unit/day but the contract states P50/day.
Thank you for in advance for your ideas and response with these matter.
I have a friend signed a contract for a rent to own second hand computer units.He overlooked at the contract were there are some incorrect information.We had been reviewed and found some errors in Rent to Own Contract Terms and Conditions which states in items:
2. PERIOD AND RENTAL: The term of this Rent to Own Contract is for twenty (15) months starting August 15, 2010 and expiring on November 15, 2011. Renter will pay EEI Trading the full monthly rental amount of THREE THOUSAND PESOS {Php3,000.00} for FIVE (5) at seven hundred pesos (P600.00) each, on or before the 5th day of every month for the duration of the contract. First payment due on September 5, 2010 and last payment on November 5, 2011.
4. DEFAULT: Upon failure of the Renter to make timely payments, PHP 50.00/day late fee will be imposed. If Renter fails to make payment, EEI Trading may treat such negligence as default and immediately retake possession of the Equipment without notice to Renter.”
The penalty which is about to pay are:
RTO 007
5-May-11 Penalty UNTIL May 23, 2011 (MAY RTO 007)
8 days x 6 units x P50 3,200.00 3,200.00
Penalty UNTIL June 21, 2011 (JUNE RTO 007)
6 days x 6 units x P50 1,800.00 1,800.00
Penalty UNTIL July 19, 2011 (JUNE RTO 007)
4 days x 6 units x P50 1,200.00 1,200.00
5-Aug-11 Computer Rentals RTO 007 (August 2011) - -
Penalty UNTIL Sept 22, 2011 (AUG RTO 007) 11,400.00 11,400.00
38 days x 6 units x P50
5-Sep-11 Computer Rentals RTO 007 (SEPTEMBER 2011) RTO007 3,000.00 3,000.00
Penalty as of Sept 30, 2011 (SEPT RTO 007)
15 days x 6 units x P50 4,500.00 4,500.00
What will be our action regarding these incorrect figures:
actual units is 5 here they want to pay 6, the one is P50 per unit/day but the contract states P50/day.
Thank you for in advance for your ideas and response with these matter.
