1. Parties and Equipment
This Rental Agreement (“Agreement”) is made between Magnus Magnetica, LLC (“Owner”) and {shipTo} / {businessName} (“Renter”) for the rental of a Magnetic Pulse Generator (“MPG”), model and serial number as specified on the Rental Order or Invoice.
Renter agrees to the terms herein and acknowledges that the rental term begins on the date set forth next to Renter’s signature.
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2. Rental Term and Payment
• Term: The standard rental term is six (6) months, unless a month to month term is expressly selected. Each monthly rental cycle consists of 30 consecutive days beginning on the delivery date.
• Rental Fees: Renter agrees to pay the monthly rental fee listed on the Rental Order for the entire. selected term. After the sixth (6th) month, rental fees shall increase by twenty-five percent (25%) of the Base Rental Rate per month.
• Additional Months: Any additional months are billed at the newly adjusted rate. Partial or prorated months are not permitted once a new cycle begins.
• Early Return: If the MPG and accessories are returned before completion of the six (6) month term, the total rental amount will be recalculated at the applicable short-term rate, unless a purchase is executed. Any excess fees will be deducted from the Security Deposit, with the balance due within forty-eight (48) hours of return.
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3. Shipping and Return
Renter shall ship the MPG and accessories via FedEx or UPS Ground (Direct Signature Required) at Renter’s sole cost.
If Owner arranges return shipping, a minimum charge of $95.00 shall apply within the continental U.S., subject to actual carrier rates. All returns must use FedEx or UPS.
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4. Security Deposit and Payment Method
Renter shall provide a Refundable Security Deposit via ACH, wire transfer, or credit card authorization in the amount listed on the Rental Order.
Payments made by credit card incur a 3.5% surcharge. Renter agrees to pay all amounts due under this Agreement upon demand.
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5. Conversion to Purchase or Finance Agreement
During the rental term, Renter may convert this Agreement into either:
• an Outright Purchase, or
• a Finance-to-Buy Agreement through an approved third-party lender.
Conditions:
• Written notice of intent to purchase or finance must be provided to Owner via signed purchase order or invoice identifying the equipment.
• For financed conversions, credit approval must be obtained from the third-party finance provider.
• Title transfers upon Owner’s receipt of full purchase funds or upon execution of the finance agreement.
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6. Rental Credit Provisions
A. Conversion After Six-Month Term
If Renter purchases or finances the MPG within three (3) days following the end of the sixth (6th) month:
• Credit: 100% of all rental fees paid, up to three (3) months.
• No Credit: Months four (4), five (5), and six (6).
Failure to convert or provide written notice within the period results in forfeiture of all rental credits.
B. Early Conversion (Within Six-Month Term)
If Renter purchases or finances before the six (6) month term concludes:
• Credit: 50% of all rental fees paid, up to three (3) months.
Failure to convert prior to return of the equipment forfeits all credits.
C. Month to Month Term:
If a month to month term is selected and Renter converts within that term:
• Credit: 100% of rental fees paid for only one (1) month.
Failure to convert prior to return forfeits all credits.
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7. Termination
This Agreement may terminate upon:
1. Mutual or Written Notice: Either party may terminate with seven (7) days’ written notice. Renter must return the MPG within that period. Refund or deduction from the Security Deposit shall be processed within seventy-two (72) hours of Owner’s receipt.
2. Renter Termination: Renter remains liable for all rental fees for the full term or any month during which the MPG remains in Renter’s possession.
3. Breach or Default: Upon written notice of breach by Renter, this Agreement terminates immediately. Renter must return the MPG within forty-eight (48) hours of notice.
Notice to Owner shall be emailed to sales@magnusmagnetica.com.
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8. Additional Terms and Conditions
Renter agrees:
• Exclusive Distributor: Magnus Magnetica, LLC shall serve as exclusive distributor for all devices manufactured by PEMF Systems, Inc. that Renter purchases or finances.
• Safekeeping: Renter assumes full responsibility for the MPG and accessories upon delivery and agrees to insure, protect, and return them in good physical condition. Renter is liable for water damage, drops, and mishandling, but not for internal electrical faults unrelated to misuse.
• Indemnification: Renter shall indemnify and hold harmless PEMF Systems, Inc., Magnus Magnetica, its resellers, distributors, and agents from any claims arising from the use or application of the MPG, except those covered by the manufacturer’s product liability insurance.
• Authorized Use: The MPG may be used only by the Renter, Renter’s employees, or individuals pre-approved in writing by Owner. The device shall not be used for treatment of persons unless expressly authorized.
9. Geo-Tagging: All rental Devices contain Geo-Tagging technology in order to locate said rental deice if it is lost or stolen.
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