Rental Agreement Terms and Conditions

1.      Purpose

The purpose of this document is to record the general terms and conditions of our relationship, for renting Equipment to you. On every occasion that we rent Equipment to you we will enter into a separate document called a “Rental Agreement” that records the details of the particular equipment rented and any varied or additional terms and conditions applying to that transaction. Whenever a Rental Agreement is varied or replaced there will be a new Rental Agreement signed, in the same format, recording the varied or new terms or details. If you wish to authorise a person to sign Rental Agreements (or variations) and that person is not a director or other person who is authorised by law or by your constitutional document to sign a binding formal deed or contract then you must first provide us with evidence, in any form we may require, that the signatory is properly authorised by you.

2.      Defined Terms

Where a word or phrase appears in this document commencing in uppercase (e.g., “Equipment”) that signifies that it is given a particular meaning for the purposes of this Agreement, as set out in clause 22 This is to ensure certainty of meaning whenever that word or phrase appears.

3.      Commencement

This Agreement commences on the date where you have signed it or (if earlier) when you first take possession of Rental Equipment.

4.      Term

This Agreement continues until it is cancelled. It may be cancelled by agreement between us. We may also cancel it if you fail to perform an agreed obligation if you cease trading or if you are in receivership or administration or bankrupted. If this Agreement is cancelled, we will no longer be in a customer/supplier relationship, but we will each remain liable to perform obligations which arose prior to cancellation. Cancellation of this Agreement does not necessarily affect individual Rental Agreements which may (at our option) continue according to their recorded terms.

If a Rental Agreement is for any reason cancelled or terminates prior to expiry of the Rental Term rental payments must still be paid to us for the remaining Rental Term. Return of the equipment does not affect this obligation. This remaining rental must be paid to us in one sum on the date of cancellation or termination.

On expiry of a Rental Agreement, or if the Rental Agreement is for any reason terminated or cancelled prior to expiry of the Rental Term, all Equipment rented by you must be returned to us in good working order. If it is not so returned you will in addition then pay us a sum equal to the market value of the Equipment. That value will be assessed by us based on the value attributed to the affected Equipment at the start of the Rental Term, less any deduction for age that we may at our discretion allow if the Equipment has been rented to you for more than 24 months.

Rental Agreements will automatically renew for a new Term of the same duration and on the same terms and conditions as the expiring Term unless within 90 days prior to expiry you give us notice that you do not wish to renew.

Any amounts payable by you under this clause are a debt due by you immediately we make a demand for payment.

We may terminate this Agreement and any Rental Agreement if:

      4.1.1. You are wound up, placed in receivership or administration or steps are taken that may lead to such event; or you file a voluntary winding up petition or a liquidator or administrator is appointed.

      4.1.2. You cease to use Rented Equipment in accordance with usual or recommended modes of operation, or otherwise use the Rented Equipment or its Software in a way that compromises their integrity.

      4.1.3. You cease to have possession or control of Rented Equipment

      4.1.4. A payment is on any occasion not made as and when it is due (time being of the essence).

In the case of sub-clauses 4.1.1 to 4.1.3 inclusive no prior notice is required for termination. In the case of sub clause 4.1.4 we will give not less than 7 days prior notice of termination.

On termination by us under this clause we may immediately Deactivate Rented Equipment.

5.      Review

From time we may by mutual agreement review and/or vary the terms of this Agreement. Any variation to the cost or terms of supply will only apply to orders made or Services provided after we have sent you the notice of the variation.

RENTAL OF EQUIPMENT

This section records our respective contractual rights and obligations with each other.

6.      What we will do:

6.1. We will rent Equipment to you from time to time on the basis of the terms and conditions recorded below.

6.2. We may also agree to provide Services. This will usually be in connection with a rental of Equipment.

6.3. We will replace or repair Equipment if it is faulty. Where damage has occurred whilst Equipment is in your custody or control all costs of repair will be paid by you.

7.      What you will do:

7.1. You will pay:

      7.1.1. the Rental Payments recorded in each Rental Agreement plus GST, until the end of the rental term, regardless of whether you no longer need the Equipment and/or return it earlier.

      7.1.2. the cost of any Services agreed to be provided to you except when we agree there is no charge.

      7.1.3. Penalty Interest on any overdue payments or where you are in default (refer clause 14)

      7.1.4. any costs we incur in recovering any amount due to us or enforcing our rights.

7.2. Payments must be made in full. You have no right of set off or deduction for moneys you claim we owe you.

7.3. You must look after the Equipment rented to you in accordance with the standards recorded in clause 9 below. When a Rental Agreement comes to an end or if for any reason you decide to return the Equipment before the End of the Rental Agreement you must return the rented Equipment to us in as good a condition as when we rented it to you, except for reasonable wear and tear consistent with ordinary and expected use of it.

7.4. In using the Equipment, you must always meet your legal obligations.

8.      Title and Risk/Security Interest.

8.1. You will not take legal title to Equipment rented to you. We retain full legal title as owner.

8.2. As you are the owner as you take delivery of rented Equipment it is at your risk. This means that you must insure the Equipment from this time and if it is then damaged or lost we are not responsible for repair or replacement.

8.3. To protect our interest as owner of rented Equipment we hold a “security interest” under this Agreement and in every Rental Agreement, as this term is defined in the Personal Property Securities Act. We are entitled to all rights of a secured party under that Act. You will sign and do all things we need to register our security interest on the Personal Property Securities Register (which is defined in that Act). We are entitled to enter any premiseswhere we believe rented Equipment is located to inspect and/or retake possession of it.

 

9.      Use of Equipment

9.1. In respect of rented Equipment, you will:

(a) only use the Equipment in accordance with user instructions from us or from the manufacturer, andalso comply with the terms of the Software Licence.

(b) keep the Equipment in good order and repair (fair wear and tear excepted) and properly operated.

(c) not attempt to sell, dispose of or give security over the Equipment.

(d) not without our prior written consent alter or add any component to the Equipment nor alter any identifying markings on the Equipment.

(e) advise us in writing within 7 days should the equipment be relocated, removed, lost or damaged.

(f) allow us to inspect the Equipment at any time, provided we give reasonable notice.

(g) notify us in writing seven days prior to any change of your name or address.

(h) not without our written consent use or install the Equipment in any manner that would lead to it becoming a fixture or anaccession to any other property; and

(i) do all things reasonably required to protect our interest as owner of the Equipment.

9.2. If you fail to meet any such obligation then we have a right to remedy the default ourselves (including entering any premises the Equipment is located to so inspect, repair or remove it) and you will, as a debt immediately due to us, reimburse and indemnify us for any costs loss or liability incurred in doing so.

 

PRODUCTS AND SERVICES

This section refers to the nature of the Equipment and Services we rent.

10.   Hardware

We supply EFTPOS and point of sale equipment described in product catalogues which we publish from time. We will do our best to ensure that all Equipment supplied to you meets our advertised standards and functionality. We may change products from time to time and we cannot guarantee that at any time we will have advertised Equipment immediately available.

11.   Software

The Equipment runs on Operating Software, the terms of use for which are recorded in a Software Licence. A copy of the Software Licence current at the date of this Agreement is attached as “Annexure B”. It is essential that all users of the Equipment understand that failure to comply with the terms of the Software Licence entitles us to Deactivate the Operating Software (either temporarily or permanently depending on the nature of the breach). If we do this the Equipment will not function. To ensure ongoing compliance requirements are met and to keep up with technological updates, we need to upgrade Operating Software from time to time. To meet the costs of our doing so there is under the Software Licence a monthly service fee levied against anytime of Equipment rented out. The levy is in your case included in the rental fee. We ask that you ensure any users of the Equipment rented to you are aware of the terms of the Software Licence (including in particular the possibility we may Deactivate the Equipment) and you will indemnify us for any liability or losses or costs we suffer or incur on any occasion that we exercise this right.

12.   Support Services

Together with the supply of Equipment we may agree to provide additional Services to support them (in addition to regular Operating Software upgrades under clause 12). The cost of these Services may or may not be additional to Rental Payments. This is subject to negotiation on a case-by-case basis.

GENERAL

This section deals with the various general matters typically found in commercial contracts and sometimes known as “boiler plate” clauses.

13.   Assignment

From time to time, you may wish to sell all, or parts of, your business and in doing so to assign to the purchaser your rights in rented Equipment. This is permitted but only if we agree to it, however if we do agree that will not affect our prior business dealings. We can give consent subject to conditions. If your business is sold, we will require a new Master Rental Agreement with the purchaser for ongoing business. If you are a company or other incorporated entity a change of a controlling interest in the shares or ownership is considered an assignment for these purposes. We may sell our business (in whole or in part). If we do that all our rights and interests in this Agreement and contracts entered in connection with our business relationship may be assigned to the purchaser, and you agree to sign any documents needed to record this new relationship. We may also assign individual Rental Agreements (which may be part of a financing arrangement). If we do this, you will be notified of the assignee’s details and the new payment arrangements.

14.   Default

If you Default in making a payment, we can require you to pay Penalty Interest on the outstanding amount until it is paid to us in full. Additionally, if you Default in performing any other obligation, we can require you to pay Penalty Interest until that Default is remedied. If we incur any loss or expense in taking advice or enforcing our rights (or attempting to do so) you will reimburse us for those costs. Our other remedies if you Default are to pursue our general legal rights – including to cancel or seek specific performance, sue for damages or to seek an injunction if urgent action is required.

15.   Warranties/Faulty Equipment

We warrant that the Equipment will function in the manner we have agreed with you. Attached as “Annexure C” is our standard Hardware Warranty which provides a further warranty. These are the only warranties we give. We are not providing any other warranties and you must ensure that the Equipment meets your needs. If any Equipment rented to you is faulty, we will repair or replace the Equipment with the same or an equivalent solution. This obligation is read subject to our respective obligations and other agreements.

16.    Intellectual Property Rights

Intellectual Property Rights owned by a manufacturer, or by us, do not transfer to you when we rent Equipment to you. If you become aware of any third-party misuse of Intellectual Property Rights you will advise us so that we can attempt to protect them.

17.    Force Majeure

If a Force Majeure event prevents or restricts us from meeting any commitments under this Agreement then we are excusedfrom that commitment, but we must otherwise meet our agreed obligations.

18.   Severability/Modification

If any wording, term or condition of this Agreement is found by a court of law to be illegal or unenforceable then that wording, term or condition will be disregarded, or modified, to the extent required to ensure that this Agreement is otherwise fully enforceable as it is intended to be.

19.    Jurisdiction/New Zealand Law Applies

If there is a dispute or legal action in connection with this Agreement it must be heard in a New Zealand Court, and New Zealandlaws apply to it.

20.    Notices

If any notice is required to be served in respect of this Agreement it will be considered properly served if has have been delivered as follows:

To Us:

Skyzer Payments Limited

269 Mount Smart Road 

Onehunga, Auckland 1061

To You:

Trading Address in last signed Rental Agreement – unless you notify us (in writing) of an alternative address.

21.   Counterpart Signing

To make it easier for us to sign this Agreement it can be signed in counterpart copies. This is to avoid the need for all Parties to sign it in one place. When each Party has signed a copy of this Agreement (all copies being identical) there will be a binding agreement, however it is a condition that Party sends a copy of the signed document to the others (this can be a scanned copy by email or by fax).

22.   Definitions and Interpretation

In this Agreement some words or phrases are “defined terms”. They are recognisable because when they are used they start in upper case (e.g. “Equipment”).

The following are defined terms:

“Agreement” means this document or any binding variation of it that is recorded in writing.

“Deactivate” means to disengage Operating Software operation for any item of rented Equipment.

“Default” means a failure to perform an obligation.

“Equipment” means an EFTPOS terminal or other apparatus of similar function.

“Force Majeure” means an “act of God” or other event beyond a Party’s control.

“Hardware Warranty” means our standard warranty for equipment, attached hereto as Annexure C.

“Intellectual Property Rights” means all kinds of rights to intellectual property, which it is registered or formally recognised and includes copyright patents trademarks registered designs and goodwill and other rights in these things.

“Operating Software” means the unique software system devised by us for the Equipment to function effectively.

“Parties” means you and us – the parties to this Agreement.

“Penalty Interest” is the charge (calculated at a rate which is 2% above our overdraft rate from time to time) which is payable when you are in Default.

“Rental Agreement” means the document which records specific Equipment rented to you under this Agreement. A sample Rental Agreement is attached as Annexure A.

“Rental Payment” means the payments agreed to be made to rent Equipment. These will be recorded in each Rental Agreement.

“Services” means services (related to Products) which we may agree to provide to you from time to time.

“Software Licence” means the document recording the terms by which the Operating Software may be used, a copy of which is attached as “Annexure B”.

“Term” refers to the agreed term of a Rental Agreement and also of this Agreement and any renewal of either.

23.   Special Conditions

Recorded below are any special conditions that apply to this Agreement. They negate replace or modify the general conditions recorded in clauses 1 to 23 above and apply only for this Agreement. Unless we agree otherwise these special conditions do not apply to any other agreement we enter into with you or with any other person.

 

 

Annexure B – Software Licence

SOFTWARE LICENCE, TERMS AND CONDITIONS OF USE – SKYZER PAYMENTS LIMITED (“The Licensor”) The below terms and conditions are attached to use of Software installed into EFTPOS terminals provided by the Licensor.

WARNING, please read these terms and conditions carefully as use of any Skyzer EFTPOS terminal is subject to the Software user licence described below.

BACKGROUND

1. The Licensor has developed and owns the software described below (“Software”).
2. The Licensor has installed the Software into EFTPOS terminals or related equipment (“Terminals”).
3. This document records the terms and conditions upon which any owner or User of Terminals may use the Software.
4. By using the Software, in conjunction with Terminals, Users agree to and are bound by the terms and conditions below.

AGREEMENT

1.   Definitions

Definitions – In this document, the following words will have these meanings:

Commencement Date means the date of first use of the Software by the User.

Deactivate and Deactivation means disengaging the Software, so that it ceases to function for affected Users.

Intellectual Property or IP means all confidential information and other “know-how”, trademarks and patents and all other intellectual property rights (whether registered or not) relating to the Software.

Licence means the software licence granted by the Licensor to use the Software in connection with a Terminal, the terms and conditions for which are recorded in this document.

Monthly Service Fee means the fee to be paid to the Licensor in accordance with clause 5.

Parties means the Licensor and the User, and Party refers to either one of them.

Software means the Licensor’s proprietary software known as “Skyzer Payment Software” together with associated applications agreed to be licensed under this document, consisting of a set of instructions or statements in object code or machine-readable medium together with any associated materials and includes software upgrades.

Upgrade means any modification or enhancement to the Software which may be introduced by the Licensor to respond to technological updates and/or to adapt or improve functionality.

User means the person or entity who or which uses the Software in connection with a Terminal.

2.   Termination

• The Licensor may terminate the Licence if:
  • the User is wound up, placed in receivership or administration or steps are taken that may lead to such event; or files a voluntary winding up petition or a liquidator is appointed.
  • the User ceases to use the Terminal on which the Software is installed in accordance with usual or recommended modes of operation, or otherwise uses the Software or the Terminal in a way that compromises their integrity.

• the User the ceases to have possession or control of the Terminal.
  • the Monthly Service Fee is on any occasion not paid when due (time being of the essence).
  • In the case of sub-clauses 2.1.1 to 2.1.3 inclusive no prior notice is required for termination. In the case of sub-clause 2.1.4 not less than 7 days prior notice is required.

3.   Deactivation for Default

• If the preconditions to termination apply the Licensor may as an alternative to termination but following not lessthan 7 days prior notice to the User, Deactivate Software in respect of any Terminal. Deactivation, at the Licensor’sdiscretion, may be temporary (until such conditions cease to exist) or permanent.

4.   Effect of Termination

• On the termination of this Licence:
  • all use rights of the User to use the Software will cease.
  • the Licensor may at its discretion Deactivate the Software
  • the Licensor may repossess the Terminal.

5.   Assignment

• The benefit of the Licence is not capable of being dealt with in any way by the User (whether by assignment, mortgage or otherwise). The Licensor may assign the benefit of this License in the case of a business or asset saleor financing or in connection with a corporate reorganisation.

6.   No Waiver

• No right under this document will be deemed waived except by notice in writing to the other Party. A waiver in any instance will not prejudice other rights in respect of any subsequent breach.

7.   Governing Law

• These terms and conditions are governed by the laws of New Zealand and any dispute in connection with them will be determined in a Court in New Zealand.

 

Annexure C – Hardware Warranty

Skyzer grants The Client a non-assignable warranty that the components in the Equipment will be free from defects in materials and workmanship and will operate in the manner represented by Skyzer during the Rental Term.

This warranty excludes:

• Any Equipment that has been removed, altered, repaired, or opened or has had its warranty seal broken by The Client or any third party.

• Equipment that has had its serial number altered, defaced, or removed.

• Equipment that has been subjected to unusual physical, environmental, or electrical stress, including but not limited to:
  
  • Power surges or lightning strikes,
  • Fire,
  • Pest infestations,
  • Liquid spills or ingress, or
  • Physical impact.

• Any external and removable power supplies and/or mains cables included with or connected to the Equipment.

• The cost of any operating supplies; and

• The cost of refinishing or cleaning the Product or supplying materials for those purposes.

Where Equipment is returned to Skyzer and no fault is found, Skyzer may charge its standard service fee in respect of each of such Equipment.

 

Last updated September 2023