Hire Purchase Agreement Template Nigeria

If the tenant with the payment of a monthly amount that, under this agreement, for ……. days after they have expired or do not or will not comply with any of the terms of this Agreement, the Owner may, without prejudice to his right to rent arrears or damages (if any) immediately terminate the rent for breach of this Agreement, without complying with a time limit, and repossess the vehicle himself or its representatives or agents, and the lessee has decided to reconquer the vehicle in question by the owner or his representatives or agents and/or by written notification to the lessee of this contract and of the duly justified rental. In case of termination of this type, the tenant must immediately return the vehicle to the owner of his residence and the tenant has to the owner an amount of Rs……….. every month until the vehicle is returned to the owner. 11. The contract determines whether the lessee commits an act of bankruptcy or concludes an agreement with his creditors or whether an application for a finding by the lessee is made to the court as insolvent or on the order of a beneficiary of the lessee`s immovable property, or whether a creditor or other person files against the lessee an application for seizure of the vehicle in question. . . .

Comments are closed.