Renticy Terms and Conditions
These Terms and Conditions (“Terms”) were last updated on 15th August 2024.
By registering for an account, you declare on behalf of your company (the “Retailer”) that you have read, understood, and agree to be bound by these Terms. In so doing, the Retailer will be entering into a legally enforceable contract with Renticy Limited, a company registered in England and Wales under company number 15587682 and whose registered office is located at Unit C150, Stafford Enterprise Park, Staffordshire, ST18 0BF, United Kingdom.
1. General.
a. Renticy act as an intermediary between the Retailer and a Customer. The Retailer remains the owner of all products or services that are rented through Renticy.
b. Renticy reserves the right to reject rental applications by Customers at its sole discretion.
c. The maximum duration of any fixed-term rental agreement between the Retailer and a customer, under this contract, shall not exceed three (3) months. A flexible, monthly rolling rental term may also be offered, under which the agreement shall automatically renew on a month-to-month basis, up to a maximum number of twelve (12) monthly renewals. Customers will have the right to cancel at the end of any monthly period by returning the goods rented under the Rental agreement.
d. The rental agreements entered into by customers are unregulated.
2. Changes.
a. Renticy reserves the right to vary these Terms, on 3 months’ written notice to the Retailer.
3. Warranties
a. The Retailer warrants that:
i. The Retailer will exercise at all times in the performance of the Services and of its obligations under these Terms, the levels of care, skill and diligence reasonably to be expected of an established, competent and experienced provider of the Retailer’s products and in accordance with current best practice in the Retailer’s business;
ii. the products shall comply in all material respects with their most recent published specification;
iii. it has full capacity and authority to enter into these Terms;
iv. all services provided to a Customer under these Terms shall be provided with reasonable care and skill and that all personnel engaged to provide such services have the necessary skills, expertise and diligence to undertake such work;
v. it will use all reasonable endeavors to ensure that it meets the Customer’s requirements for the times and dates of delivery of the products and services at all times;
vi. it will process Personal Data provided to it by Renticy in compliance with the Data Protection Legislation.
b. Renticy is under no obligation to provide a minimum amount of rental orders.
4. Terms of Payment
a. Renticy will deduct, from every customer rental payment pursuant to a Rental Agreement, before payment is made to the Retailer:
i. A transaction free at the rate amount of 10% of each rental payment collected, excluding any delivery and collection charges. A minimum Transaction fee of £6 is chargeable on every payment. Where the rental payment is below £20, a reduced transaction fee of £3 will be charged.
ii. Renticy will add on a Renticy Service Charge to each rental payment. This charge will be paid by the Customer at point of sale or monthly, subject to the rental term length.
iii. A monthly access fee will be chargeable, payable monthly or annually.
iv. Any special pricing arrangements will be set out in a subsequently agreed schedule, to be mutually signed between the parties.
v. All charges are subject to VAT.
b. Renticy reserves the right to review its fees, including any access fees or transaction fees should Renticy’s costs have been increased in a manner which, in the reasonable opinion of Renticy, makes it unprofitable to continue to purchase products from the Retailer. Any such proposed changes shall be promptly communicated by Renticy to the Retailer at least 1 month before they are to take effect.
c. Upon receipt of proof of fulfilment, Renticy will submit payment for remittance for that order into Retailer’s designated UK bank account, the next working day, if proof provided before 3pm and where no disputes have been raised by the customer. Payments will typically take two business days to remit. Payments will be held until any disputes are resolved.
d. If the Customer should cancel the Rental Agreement more than 24 hours prior to the rental term commencing, all monies paid by the Customer shall be refunded. Any cancellation that occurs no less then 24 hours prior to the rental term commencing will be charged in full and no refund given.
e. In the event any products are not fit for purpose or break during a rental term, through no fault of the Customer, the Customer will be refunded for the full rental term and the Retailer will remit any sums paid pursuant to the Rental Agreement within 48 hours of notice of cancellation, along with:
i. any sums paid to the Retailer in error;
ii. any sums paid to the Retailer under these Terms where the Retailer has failed to comply with the terms and provisions of these Terms;
iii. any sums paid to the Retailer, its directors, officers and/or employees who have acted fraudulently.
f. A Customer may be charged a “late return fee” at the full rental day rate for every day late the complete rental order is returned past the contractual end date, up to the value of the rental deposit. This will be remitted to the Retailer, minus transaction fees once the products have been returned. If after 7 days no return has been made, a non-return Renticy protect claim can be made.
i. The Retailer must notify Renticy of a non-return within 24 hours of the rental end date, via their Renticy Retailer account, which can be accessed at www.renticy.com/retailer
ii. Where a product is to be collected via a Retailer’s designated courier, it is the responsibility of the Retailer to arrange the collection. No late return fees are chargeable until the day after a collection has been attempted and failed.
iii. Renticy has the authority to waive these fees in the event that a Customer was unable, through no fault of their own, to return the items in the allotted time, or were unable to facilitate a collection.
iv. Once an item has been collected by a courier or returned to the Retailers store, the rental order will be classed as returned.
g. Where a customer has selected a Rolling monthly term, the customer can stop the contract from rolling into a new monthly Rental agreement by returning the items to the retailer, or by the successful collection of the items by a courier designated by the Retailer.
5. Value Added Tax
a. Where the Retailer is VAT registered with HMRC:
i. A VAT rate of 20% will be included within the rental price paid by the Customer along with any delivery & collection charges.
ii. Renticy will remit to the Retailer the full inclusive of VAT value, excluding the Renticy transaction fee.
b. Each party is responsible for managing their own VAT position.
6. Renticy Protect.
a. A Renticy Protect claim can be made by a Retailer during typical working hours. Any claims made outside of these hours will be received the next working day.
b. Upon receipt of returned goods the Retailer will have 48 hours from the Rental End date to inspect items for damage and raise a Damaged Goods Renticy Protect claim. To make a claim the Rental status of this order must have been set to “Dispute” within 48hour of the Rental end date.
i. To submit a Damaged Goods Renticy Protect claim, a fully completed Damage Goods claim form will be required. This form can be found at www.renticy.com/retailer along with submission instructions. Once successfully submitted a claim will be reviewed and any additional information required to process the claim will be requested. Renticy aim to process a claim within 5 – 7 working days.
ii. Once a claim has been processed any payment due will be made to the retailers registered bank account the next working day.
iii. Fair wear and tear is not covered by Renticy Protect.
c. If goods are not returned to the Retailer or collected by a designated courier on behalf of the Retailer, no less then 7 days from the end of a rental term, a Non-Return Renticy Protect claim may be made. To make a claim the Rental status needs to be set to “dispute” within 48 hours of the rental end date.
i. To submit a Non-return Renticy Protect claim, a fully completed Non-Return claim form will be required. This form can be found at www.renticy.com/retailer along with submission instructions. Once successfully submitted a claim will be reviewed and any additional information required to process the claim will be requested. Renticy aim to process a claim within 5 – 7 working days.
ii. Once a claim has been processed any payment due will be made to the retailers registered bank account the next working day.
iii. Goods that have been received by a courier on behalf of the retailer, or where proof of delivery or collection has been provided, but subsequently no goods are received by the Retailer, will not be covered by Renticy Protect. Retailers will need to process a claim directly with the respective courier or delivery agent.
d. Successful Damage Goods claims will be paid at a fair market time and material price to restore the goods to a re-rentable condition. This can be up to the fair market trade value of the goods minus any monies already remitted to the retailer in connections with the Rental Agreement, including any rental payments.
e. Successful non-return claims will be paid at the fair market trade value of the goods, minus any monies already remitted to the retailer in connection with the Rental Agreement, including any rental payments.
f. Fair market trade value (FMTV) is calculated at the lower of the original trade purchase price or 70% of the advertised retail price. The grade of the item will determine the % of the FMTV that is claimable.
i. Goods classed as A grade are brand new and have not been sold or rented before. These goods must have been purchased by the Retailer less then 12 months prior to claim. 100% of the FMTV is claimable.
ii. Goods classed as B grade are pre-used or pre-owned or have been previously sold and returned, and, or, rented on standalone rental agreements no more than four times, or were purchased by the Retailer 12 to 24 months prior to claim.. Goods that have been rented for a consecutive period of more then 2 months but less then 12 months to a single customer will be classed as grade B. 70% of the FMTV is claimable.
iii. Goods classed as C grade are pre-used or pre-owned or have been previously sold and returned and, or rented on standalone rental agreements 5 or more times, and, or have cosmetic damage, or were purchased by the retailer more the 24 months prior to claim.. Goods that have been rented for a consecutive period of 12 months or more will be classed as grade C. 55% of the FMTV is claimable.
iv. Goods that are assessed to be lower grade then grade C will be classed as Grade D and have a maximum claimable FMTV of 55%.
g. If the deposit value is set to less than 10% of the retail value, the Renticy Protect cover will only include cover for transactions that have been made fraudulently, or non-return and damage cover up to the total value of the deposit amount.
h. Renticy Protect will cover a maximum retail value of up to £3500.
i. Any rental payments collected from the customer and paid to the retailer will be count towards the FMTV.
j. Renticy protect will not cover uncollected rental payments.
7. Renticy Property.
a. All Intellectual Property Rights in any books and documents and computer software and hardware belonging to Renticy and/or held on behalf of Renticy and/or relating to business conducted under these Terms shall at all reasonable times be available to Renticy and its duly authorised representatives for inspection and audit.
b. Renticy grants to the Retailer a non-exclusive, royalty free licence to use the marketing materials while these Terms are in force for the purposes set out in these Terms.
c. The Retailer grants Renticy a non-exclusive, royalty free licence to reproduce, adapt or otherwise make use of its name, trademarks, designs or product photographs while these Terms are in force.
d. Save as otherwise provided in these Terms, the parties shall not use or make use of any of the other party’s Intellectual Property, name, trademarks, service marks or logos without first obtaining the written consent and approval of the other party.
8. Product Ownership.
a. The Retailer remains the owner of all products that are rented through the Renticy platform. It is the responsibility of the Retailer to make sure these products are fit for purpose and free of any defects.
b. Renticy has no legal control or ownership over any products rented through the platform.
c. The Retailer is responsible for making sure any training requirements are delivered and that customers have adequate knowledge to use and operate any items that are rented through Renticy.
9. Retailer obligations to notify.
a. The Retailer must notify Renticy immediately:
i. of any change in its business address, ownership directors, partners or controllers of the Retailer particularly where a shareholding of 15% or more is involved, and of all changes in the name or trading name of the Retailer and any material change in capital structure;
ii. if any owner, partner, director or controller of the Retailer is or becomes convicted of any criminal offence; or
iii. of any other material change in its circumstances including but not limited to its ownership, capital structure or financial situation which may affect its capacity to carry out its obligations under these Terms.
10. Confidentiality.
a. The parties shall:
i. Treat the other party’s Confidential Information and Intellectual Property as confidential; and
ii. Not disclose the other party’s Confidential Information to any other person without the owner’s prior written consent;
iii. Only use the Confidential Information for the purposes for which it has been made available.
b. The obligations contained in clause 10.a of these Terms will not apply where:
i. Such information was in the possession of the party making the disclosure, without obligation of confidentiality, prior to its disclosure; or
ii. Such information was obtained from a third party without obligation of confidentiality; or
iii. Such information was already in the public domain at the time of disclosure otherwise than through a breach of these Terms; or
iv. Such information was independently developed without access to the other party’s Confidential Information.
11. Data Protection.
a. The parties agree that each of them acts as a data controller in respect of any Shared Personal Data and shall process it for the Agreed Purpose. Shared Personal Data shall be as follows:
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Data subjects: |
the personal data to be processed concerns: · Consumers · Customers · Individuals operating on or within the Renticy Platform |
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Categories of data: |
the personal data to be processed falls within the following categories of data: · Personal Data |
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Special categories of data (also referred to as sensitive personal data): |
Renticy do not process any categories of sensitive personal data, including, but not limited to biometric data, genetic data and criminal offences. |
b. Each party shall (and shall procure that any person or company acting on their behalf shall):
i. Comply with the Data Protection Legislation;
ii. Process the Shared Personal Data on the basis of one of the lawful grounds listed in the Data Protection Legislation; and
iii. Obtain all permissions and consents necessary to disclose the Shared Personal Data to the other party.
c. In the event that a data subject makes a Subject Access Request under the Data Protection Legislation, the parties shall reasonably cooperate to enable the recipient of the Subject Access Request to comply with it in line with the statutory requirements.
d. Each party shall implement and maintain appropriate technical and organizational measures to ensure a level of security appropriate to the risk.
12. Termination. Either party may terminate the relationship:
(a) For convenience upon at least 30 days’ written notice being provided to the other party; or
(b) For cause and with immediate effect if the other party has committed a material breach and, where remediable, fails to remedy the breach within 30 days’ of having received written notice of breach.
Termination shall not affect any clauses expressly or impliedly intended to survive termination. Accrued rights and liabilities and other remedies shall in no way be affected by termination.
13. Consequences of termination on rental orders
a. In the event of termination pursuant to clause 12 of these Terms, any pending rentals will be cancelled once termination notice has been served.
14. Indemnity and Liability
a. The Retailer shall indemnify Renticy against all liabilities, costs, expenses, damages and losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest, penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses) arising out of or in connection with:
i. any breach by the Retailer of the warranty or warranties contained in these Terms;
ii. the Retailer’s breach or negligent performance or non-performance against these Terms;
iii. Any claim made by a customer of the Retailer in connection with the Retailer’s failure to provide products of satisfactory quality, deliver the products in a timely manner, provide support for the products or any other undertaking by the Retailer in relation to the supply, use, repair or replacement of products.
iv. any claim made against Renticy by a third party arising out of or in connection with the supply of the products.
v. any claim made against Renticy by a third party for death, personal injury or damage to property arising out of or in connection with defective products.
vi. any breach of the obligations listed in clause 11, or of the Data Protection Legislation.
b. The above indemnity shall not apply where a claim results from the negligence or wilful misconduct by Renticy.
c. Renticy shall indemnify the Retailer against all liabilities, costs, expenses, damages and losses incurred in connection with any breach (including negligent breach) by Renticy of these Terms.
d. Renticy shall not be liable for any loss or injury to a Customer due to the supply or use of defective products as part of any rental order.
e. Neither party shall be liable for any indirect or consequential loss.
f. The maximum liability of Renticy, including under any indemnity, shall be limited to the amount of fees payable by the Retailer to Renticy in the 12 months preceding the claim.
15. Force Majeure. If either party is prevented or delayed in the performance of any of its obligations under these Terms by Force Majeure, that party shall immediately serve notice in writing on the other party specifying the nature and extent of the circumstances giving rise to Force Majeure, and shall subject to service of such notice have no liability in respect of the performance of such of its obligations as are prevented by the Force Majeure events during the continuation of such events, and for such time after they cease as is necessary for that Party, using all reasonable endeavors, to recommence its affected operations for it to perform its obligations.
16. Notices. A notice given to a party under these Terms, or any subsequently agreed schedule shall be in writing and sent to the party at its nominated address or email address.
17. No partnership or agency. Nothing in these Terms is intended to or shall operate to create a partnership or joint venture of any kind between the parties or to authorise either Party to act as agent for the other, and neither Party shall have authority to act in the name or on behalf of or otherwise to bind the other in any way (including but not limited to the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
18. Third party rights. Unless the right of enforcement is expressly granted, it is not intended that a third party should have the right to enforce a provision of these Terms pursuant to the Contracts (Rights of Third Parties) Act 1999.
19. Set-off. Renticy Limited shall be entitled but not obliged at any time or times to set off any liability of the Retailer against any liability of Renticy Limited to Retailer.
20. Waiver and remedies. No waiver by any party of any breach or non-fulfilment by any other Party of any provisions of these Terms shall be deemed to be a waiver of any subsequent or other breach of that or any other provision and no failure to exercise or delay in exercising any right or remedy under these Terms shall constitute a waiver of that right or remedy.
21. Entire agreement. These Terms, and the documents referred to in it, constitute the whole and only agreement and understanding between the parties relating to its subject matter.
22. Governing Law and Jurisdiction. These Terms and any subsequently agreed schedule shall be governed by the laws of England and Wales. The parties irrevocably submit to the exclusive jurisdiction of the English courts.
Definitions Used within these Terms
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“Confidential Information” |
means information in whatever form (including, without limitation, in written, oral, visual or electronic form or on any magnetic or optical disk or memory and wherever located) relating to the business, clients, customers, products, affairs and finances of either party, for the time being regarded as confidential, and trade secrets including, without limitation, technical data and know-how relating to the business of either party. The details of any subsequently agreed schedule or the deal underpinned by them will also be considered confidential. |
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“Data Protection Legislation” |
means all applicable data protection and privacy legislation in force from time to time in the UK including the UK GDPR; the Data Protection Act 2018 (DPA 2018) (and regulations made thereunder) and the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) as amended, and all other legislation and regulatory requirements in force from time to time which apply to a party relating to the use of personal data (including, without limitation, the privacy of electronic communications). |
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“Agreed Purpose” |
means the use of the Renticy Platform by the Retailer to enable the Retailers customers to Rent items from the retailer for a period of time less then 3 months. |
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“Shared Personal Data” |
the personal data which is shared between the Retailer and Renticy Limited, as set out in clause 11 of these Terms. |
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“Customer” |
means any person who uses the Renticy limited platform to rent Products from the Retailer. |
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“Rental Agreement” |
means an agreement entered into between the Customer and Retailer, facilitated by Renticy Limited once a Rental order has been originated. |
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“Intellectual Property Rights” |
means all vested, contingent and future intellectual property rights including but not limited to patents, goodwill, reputation, rights in confidential information, copyright, trade marks, logos, service marks, devices, plans, models, diagrams, specifications, source and object code materials, data and processes, design rights, patents, know-how, trade secrets, inventions, get-up, database rights, domain names in each case whether registered or unregistered, and any applications or registrations for the protection of these rights and all renewals and extensions thereof existing in any part of the world, whether now known or in the future created. |
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“Force Majeure” |
means any cause preventing either party from performing any or all of its obligations which arises from or is attributable to circumstances beyond the reasonable control of the party so prevented including without limitation strikes, lock-outs or other industrial disputes (whether involving the workforce of the party so prevented or of any other party), act of God, government actions, war, riot, hostilities (whether war be declared or not), armed conflict, terrorist attack, terrorist activity, nuclear, chemical or biological contamination, sonic boom, civil commotion, invasion, revolution malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, power failure, breakdown of plant or machinery, fire, flood, storm, disease, epidemic, default of suppliers or sub-contractors, difficulties or increased expense in obtaining raw materials, labour, fuel, parts or machinery, or import or export regulations or embargoes. |
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