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These Terms and Conditions (“Terms”) govern the relationship between Rentrite (“Rentrite”, “we”, “us”, “our”) and the customer (“Customer”, “you”, “your”) for renting products through our platform. By placing an order, you agree to be bound by these Terms, along with our Privacy Policy and Refund Policy available on our website.

1. Orders & Verification

1.1 All orders are subject to successful document verification, KYC approval, product availability, and serviceability of the delivery location.

1.2 PayRentz reserves the right to reject or cancel any order prior to delivery if documents or details are found to be inaccurate, incomplete, or not in compliance with onboarding requirements, without assigning any reason.

1.3 Placing an order or completing payment does not guarantee delivery.

2. Order Cancellation & Modification

2.1 Cancellation of Order

Customers may request order cancellation prior to delivery through customer support or the dashboard. Refunds will be processed as per Section 7 below.

2.2 Modification of Order

Customers may request modifications before delivery. Any changes may impact delivery timelines, monthly rent, security deposit, handling charges, or tenure, and revised charges will apply accordingly.

3. Delivery & Installation

3.1 Products will be delivered to the address mentioned in the customer profile. The Customer or an authorized representative must be present at delivery with valid ID proof and authorization letter if applicable.

3.2 Customers must inspect the product at the time of delivery. Any damage claims raised after acceptance of delivery will not be entertained.

3.3 If delivery is rescheduled due to customer unavailability, incorrect address, or access restrictions (including elevator or entry permission issues), additional handling or delivery charges may apply.

4. Rental Tenure & Continuation

4.1 Customers may choose a rental tenure at the time of booking. Monthly rent is fixed based on the selected tenure.

4.2 Customers may continue renting beyond the original tenure. The monthly rent applicable at the time of booking shall apply during the extended period.

5. Rent Payment & Billing

5.1 Rent is generally postpaid unless stated otherwise. Invoices are raised on the last day of each month and must be paid by the 7th of the following month.

5.2 Payments must be made only through the official PayRentz portal or authorized payment channels.

5.3 Failure to make timely payments may attract late fees and other penalties as per PayRentz policy.

6. Pro-Rata Rent

6.1 Rent for the first month will be calculated on a pro-rata basis from the date of delivery until the end of that month.

6.2 Upon subscription closure, the final month’s rent will be calculated on a pro-rata basis until one day prior to the scheduled pickup date (T-1).

7. Security Deposit & Refunds

7.1 Security Deposit

A refundable, interest-free security deposit is payable at the time of booking. PayRentz reserves the right to deduct any outstanding dues including rent, late fees, early closure charges, damage charges, or other liabilities before refunding the balance.

Security deposits cannot be used to offset ongoing rental dues during an active subscription.

7.2 Refunds Due to Order Cancellation / Rejection / Modification

Refunds, including security deposit and handling charges (if applicable), will be processed within 7 working days and credited to the source account or the bank details provided by the customer during onboarding.

7.3 Refund Upon Subscription Closure

The security deposit will be refunded within 3 working days, subject to confirmation from PayRentz’s quality team that the products are returned in good condition. Refunds will be credited to the bank account details maintained in the customer dashboard. Customers are responsible for keeping accurate bank information.

8. Early Closure

8.1 Customers may close their rental subscription before the selected tenure.

8.2 Early closure charges shall apply and will be calculated based on the selected tenure, product category, and monthly rent, as mentioned under the “Compare Tenure” section on each product page on the PayRentz website.

9. Late Fees

9.1 Late fees of ₹100 per rental invoice may be levied from the 8th day of the month for unpaid dues.

9.2 PayRentz reserves the right to revise late fee amounts from time to time.

10. Product Usage, Damage & Loss

10.1 Customers are responsible for the proper use, maintenance, and safekeeping of rented products.

10.2 Any repair, replacement, or loss due to misuse, mishandling, negligence, theft, or unauthorized servicing shall be chargeable to the customer.

10.3 Normal wear and tear such as minor scratches or discoloration shall not be considered damage.

10.4 If a product is damaged beyond repair or lost, the customer shall be liable to pay the prevailing market value of the product.

11. Service & Maintenance

11.1 PayRentz shall provide service support during the rental tenure upon request.

11.2 Repairs shall typically be addressed within 3 working days. If the issue cannot be resolved, PayRentz may provide a replacement.

11.3 Any additional cost arising due to customer negligence or misuse shall be borne by the customer.

12. Inspection Rights

PayRentz reserves the right to inspect rented products during the rental period with prior notice to ensure proper usage and condition of the products.

13. Relocation

Customers must notify PayRentz at least 7 days in advance for relocation requests. Relocation is subject to KYC verification of the new address, serviceability, and applicable relocation charges.

14. Termination

PayRentz reserves the right to terminate the agreement immediately if:

Rental dues or other payments remain unpaid
Products are misused, damaged, or not returned
Any breach of these Terms occurs

Upon termination:
a) PayRentz may repossess the products
b) All outstanding dues become immediately payable
c) The security deposit will be refunded after deductions and quality inspection

PayRentz may also terminate the agreement without cause by providing 30 days’ notice.

15. Ownership

All products remain the exclusive property of PayRentz. No ownership rights are transferred to the customer at any time. Customers must notify PayRentz immediately if any product is seized or threatened with seizure.

PayRentz may share customer information with:

Credit bureaus, in case of payment defaults
Third-party service partners, for fulfillment and logistics
Related parties, if the customer is untraceable in default scenarios

Such actions shall not give rise to any liability on PayRentz.

17. Indemnification

The customer agrees to indemnify and hold PayRentz harmless from any claims, damages, losses, liabilities, or expenses arising out of product misuse, negligence, or violation of these Terms, except where caused by PayRentz’s gross negligence or wilful misconduct.

18. Limitation of Liability

PayRentz shall not be liable for any indirect, incidental, special, or consequential damages, including loss of profits or data. PayRentz’s total liability shall not exceed one month’s rent collected from the customer.

19. Assignment

Customers may not assign or transfer their rights or obligations under this agreement without written consent from PayRentz. PayRentz may assign this agreement to third parties including NBFCs or credit agencies without prior notice.

20. Governing Law & Jurisdiction

These Terms shall be governed by the laws of India and subject to the exclusive jurisdiction of courts in Chennai, Tamil Nadu.

21. Entire Agreement

These Terms constitute the entire agreement between rentrite and the customer. In case of conflict between these Terms and any policy on the rentrite website, the website terms shall prevail. rentrite reserves the right to amend these Terms at any time.