RENTAL CONTRACT
This Contract is made on this _________________ Between PIXIVAPE (hereinafter
referred to as the “Shop”) and HEATPRESS LLC (hereinafter referred to as the
“client”) together referred to as “parties”.
WHEREAS the shop has agreed to let its shelf space (hereinafter referred to as the
“product”) and the Client has decided to rent the product to display and sell as
hereinbelow described and be bound by the following terms of the rental and sale; –
1. Product.
Parties herein agree that the product being offered is shelf space that belongs to the
shop, and the items on display and for sale are footwear and apparel that belong to
the Client.
2. Term.
Parties agree that the term of this Contract shall be for a period of __________.
3. Sale Price and Compensation.
The parties herein agree that in consideration of the shop offering the shelf space,
the Client will pay the shop 50% of the profit made on sales of the items in the store.
Parties agree that the Client will process the transactions of their items through their
own POS system and will be responsible for paying the shop their share within
_________ days of the successful payment processing.
The dollar amount the Client paid to acquire the item will be returned to them fully
before the sale’s profit is divided equally between the parties.
Parties agree that there will be no cap or floor put in place on the sales of the items.
Every sale that the Client makes on the premises will be paid out.
The required payments will be made to the shop weekly, on the ______ day of every
week. The Client will transfer the money to the designated shop account.
4. Delivery.
The Client shall make all the necessary arrangements and plan for delivering the
items to the shop.
5. Warranties
The client warrants that; –
i. It has the full authority to enter into and execute this Contract.
ii. To the best of its knowledge, there are no ongoing or anticipated claims
against the shop.
The shop warrants that; –
i. It has the full authority and capacity to execute and agree to the terms of this
Contract.
ii. It has the facilities available to complete the terms under this Contract.
6. Records.
The Client will provide the shop with a spreadsheet once a week with information
such as the purchase price, size, condition, or the selling price on all items that the
Client acquired over that week with intentions to place in the store.
7. Responsibilities.
The parties agree to the following; –
i. The Client will provide the shop with the mailing information for all customers
shopping on the Client’s POS system.
ii. The Client will have complete control over what items are displayed in the
shelf space.
iii. The shop maintains the right to remove an item if they feel that it’s offensive
or could affect their sales. In this event, the shop will tell the Client that the
item needs to be removed and the reasons, and then the item will be removed
and replaced with a different item.
iv. The Client will be responsible for all of their belongings and have a
commercial property insurance policy, covering all of the business’s inventory
and belongings inside the store.
v. The shop will not be held responsible for the items placed by the Client.
vi. The shop will not sell or process transactions through its own POS system
involving any of the items placed by the Client.
vii. The Client will not sell or process transactions through their own POS system
involving any of the items owned by the shop.
viii. Neither party will determine the price of the items owned by the other party
and will not touch or alter the pricing.
ix. Neither party will tell customers any price other than the price that the owner
of the product listed without the consent of the owner of the item.
8. Promotions.
The parties herein agree that any item promotions put in place by either business will
not be applied to the items owned by the other business without the Consent of both
parties.
If both parties agree to share the promotion to make the store widely known, both
parties will decide on the time of the sale. When that period ends, those items will
return to their regular list price in the shop until a new promotion is presented to and
agreed upon by both parties.
9. Refunds.
Parties agree that if a customer comes back attempting to return an item placed by
the Client, the shop can only refer the customer to the Client’s return policy online.
The shop is not responsible for processing any returns of the items that were not
purchased through the shop’s POS.
10. Dispute Resolution.
In case of any dispute or conflict that arises from the non-performance of the terms
in this Contract, parties mutually agree to negotiate and resolve the dispute. If the
same fails, it shall be referred to a single arbitrator, whose decision shall be binding
and final.
11. Termination
If either party wants to terminate this Contract, they must give the other party a 30-
days’ prior written notice (unless both parties agree at that time not to have the 30
days). During those 30 days, all the Client’s Products will remain on the shelf space
and be sold following the same contract guidelines. At the end of the 30 days, if
either party wishes to remove the Client’s products, they will be removed, and the
Contract will officially be terminated.
12. Intellectual Property.
The parties agree that every party’s brand/property is their respective intellectual
property, and no transfer of ownership shall be construed from the terms and
obligations under this Contract.
Subject to the above, both parties agree to include each other’s logo and branding in
their promotions to increase the customer base for both businesses.
13. Damages.
Parties herein agree that neither party shall damage or break any items that belong
to the other party.
If either party intentionally or accidentally damages, ruins, breaks, or marks an item
that is not their property, they must pay the item owner out of the amount the item
was listed to be sold for.
If a customer intentionally or accidentally damages, ruins breaks, or marks a product,
the item owner should contact the insurance company insuring the item.
14. Third-Party Contracts.
The terms of this Contract should not be construed as a transfer of any third-party
contracts with the shop if the existing Contracts between the shop and the third party
do not provide for the assignment of the Contract.
15. Severability.
Suppose a provision of this Contract is found by a court of competent jurisdiction to
be invalid and unenforceable. It will be severed from the Contract, and the other
provisions will continue and not be affected.
16. Expenses.
Each party shall bear its costs in relation to fulfilling the terms of this Contract.
17. Governing Law.
The terms of this Contract will be governed by the Laws of _______________.
18. Waiver.
A waiver by any of the parties herein of any of their rights in this Contract does not
infer a further waiver of that right or any other right in this Contract.
19. Entire Agreement.
The terms and obligations in this Contract shall be construed as the entire
Agreement between the parties in relation to the subject herein.
IN WITNESS WHEREOF, the parties have signed this Contract on the date indicated
hereinbelow.
XXX
Designation:
______________________________
Signature:
________________________________
Date:
____________________________________
Email Address:
XXX LLC
Designation:
____________________________
Signature:
______________________________
Date:
__________________________________
Email Address:
____________________________ __________________________