Terms and Conditions of Resonance Violin’s Instrumental Rental Program

1. CREDIT TO PURCHASE OPTION- The first thirty-two (32) months of rental payments accumulate as credit that the customer may apply towards the purchase of a new full-size instrument from RESONANCE VIOLINS at the current manufacturer’s suggested retail price.Credit cannot be used towards accessories, bows, or repairs or instruments of a lesser value than the rental.Credit cannot be transferred, combined with another rental account or other discounted rate. Credit will only accrue when the account is kept current.If the customer continues to rent beyond the end of the 32nd month of rental, the contract will continue at the same rate and rental credit will neither increase nor decrease as long as the account is kept current and open.Rental Credit will expire 30 days after the rental instrument is returned.
2. Free Services- Resonance Violins will provide instrument maintenance and adjustments for normal wear or weather related issues as well as size exchanges of any instrument or bow.These services are offered free of charge provided the rental account is current.
3. Damage Protection Plan-The optional damage protection plan covers any accidental damage that would occur during normal use and transport such as at home, school, music lessons, in family cars and on school busses.The first instance of accidental damage will be 100% covered by Resonance Violins.Each subsequent accident will incur a percentage of the repair or replacement cost as a deductible.This percentage will increase by 15% on each use of the damage protection plan (2^nd use-15%, 3^rd use-30%, etc).For coverage, replacements and repairs must be done through Resonance Violins.Exclusions to Damage Protection Plan include but are not limited to loss or theft of the instrument; loss or theft of the bow or any instrument parts; string replacement; intentional damage; damage caused when in protection of third parties such as mail carriers and airlines.
4. Renter Responsibilities- The renter must notify Resonance Violins of any changes to their contact information or if the instrument is regularly kept in a location other than the listed address. If the instrument is lost, stolen, damaged or destroyed, the renter will reimburse Resonance Violins for the cost of repair or replacement unless damage is covered by Damage Protection Plan (3).
5. Credit Verification-A valid credit card (not debit) is required to be kept on file as verification of credit history.This card will not be used for payment unless specified by the renter.
6. Required Deposit- A deposit of $250 may be required to begin a rental contract at the discretion of Resonance Violins.Reasons for this may include but is not limited to out of state residence, insufficient identification or insufficient proof of credit.This deposit will be refunded upon the return of the rental instrument.
7. Payments-Payments are due on the fifteenth (15^th) of each month.Payments are made in advance and will not be prorated. Upon receipt of instrument the contract is in effect and initial payment non-refundable.
8. Contract Termination- The instrument may be returned at any time at which point your account will immediately be closed.Instruments returned after the 15^th of the month will be charged the full monthly rate. If you wish to return the instrument to a participating school, Resonance Violins must be notified for pick up.If Resonance Violins is not notified you will be held responsible for any further payments, loss or damage.
9. PAST DUE ACCOUNT- Rental payments made more than 15 days after the due date will be charged a $4.00 late fee per month. Each month the account is past due an additional late fee or an amount determined by a periodic rate of 1.5% per month to the unpaid balance will be charged.
10. Returned Checks- A $15.00 fee will be charged for checks returned for any reason.
11. ALL ACCOUNTS THAT ARE SERIOUSLY PAST DUE ARE TURNED OVER TO COLLECTION AGENCIES. If after 120 days no payments or other arrangement have been made, the instrument will be considered purchased. The balance of the current market value plus all late fees incurred will be due immediately. In addition, the account will be billed for all collection expenses, court costs and attorney’s fee.