Rental Agreement: Terms and Conditions
HOW THE MONTHLY RENTAL PLAN WORKS:
1. You may rent as long as you wish. The instrument may be returned at any time, outstanding charges paid, and the rental agreement will be terminated. Title of ownership remains
with Timeline Music during the rental period.
2. You will receive a coupon booklet before the end of the initial rental period. To renew the rental, send your payment along with the coupon, by the due date.
3. You are responsible for an instrument until it is returned to our place of business. Do not leave the instrument at the school for returning without notifying Timeline Music.
4. Rental fees will be charged up to the date of the instrument being returned.
5. No Rental or LTD (Loss/Theft/Damage) fees will be prorated or refunded.
6. Contracts are not transferable.
YEARLY LEASE PROGRAM:
Yearly lease contracts are renewable at the end of each school year. You will receive a renewal letter at the end of the school year, for the following year. The instrument must be returned or renewed, on or before June 30th. Free summer use of the instrument when you renew your lease for the following year.
Other Terms: A 60% credit of the base price of any and all yearly rental fees, will be applied for each year, if converted to a rent-to-own contract.
Pro-rated refunds are as follows for early returns during the school year: 60% before December 1st, 30% before February 1st, excluding tax and insurance.
Band Instruments only are eligible for an early purchase option. The rented Band Instrument may be purchased at any time. All paid fees, excluding LTD and Tax, will be applied towards purchase and a 40% discount will be given off the remaining balance.
In order to exchange an instrument, the account must be current. When exchanging for an instrument with a higher list price, 80% of paid rental fees will be applied towards the buyout of the new instrument. For a less expensive instrument, up to 12 months of all previously paid rental fees will be applied toward the buyout of the new instrument. Applicable to student and intermediate instruments only. Professional level instruments or special orders do not apply.
The instrument may be returned at any time and the Rental Agreement will be terminated. No rental or LTD fees will be prorated or refunded. The renter will still be liable for all overdue rental payments.
Timeline Music will exchange the instrument for the next size as requested by the music teacher. When the student requires a full size instrument, all paid rental fees will be applied toward the value of a full size instrument provided the account is current.
PAST DUE ACCOUNTS:
If the rental fee is past due, a late charge will be assessed ten days after the due date for each month the account is in arrears. If the account becomes 90 days past due, the full value of the instrument shall become due, plus liability for all collection and legal costs incurred.
A fee of $25.00 will be assessed for any checks returned to Timeline Music for insufficient funds or non-payment.
LOSS/DAMAGE/THEFT COVERAGE (LTD):
For a monthly charge, due with the monthly rental payments, Timeline Music will assume the liability of protecting the rental customer against loss, damage or theft to the rented instrument subject to the following conditions.
1. Loss through theft, total destruction by fire or accident. Provided the account is current, the instrument will be replaced with an instrument of equal quality, age and condition, as determined by Timeline Music. Theft must be reported to the proper law enforcement authorities within 48 hours after discovery of loss. A copy of this report and a written request for replacement must be sent to Timeline Music within 20 days of the occurrence.
2. Timeline Music is not responsible for the instruments left at the schools for return without first obtaining proper return authorization and/or instructions from Timeline Music.
3. Any major damage or breakage to the rented instrument will be repaired to proper playing condition without charge. Coverage does not apply to willful or deliberate destruction by the rentee, nor to the deterioration of appearance which does not affect the performance of the instrument, such as scratches, minor dents and finish.
4. Excluded from the coverage are drum heads, drum sticks, strings, reeds, springs and replacement of expendable accessories.
5. Any claims for repair or replacement shall not alter or diminish the terms of the rental plan indicated on the front.
6. If the renter defaults on any payment for more than 30 days, LTD coverage will lapse and can be reinstated only by permission of Timeline Music. No part of this coverage will be refunded.
7. All repairs and replacement of rented instruments, under this coverage, must be made by Timeline Music or its designated agent. Any repairs by the renter or an unauthorized repair agent will void the LTD coverage and are non-reimbursable.
Note: If insurance is declined customer is responsible and liable for all repairs, damage or loss by theft or fire of the rented instrument.
MEMBER: National Association of Music Merchants (NAMM)