What are the conditions in the financing agreement between the individual and the finance company?
The major conditions in the finance agreements are – • The hirer accepts the entire risk of non-performance, non-delivery, breach or supply of inferior or damaged vehicle by the dealer and the finance company is not liable for the quality, condition or fitness of the vehicle. • The hirer is entitled to the benefits of the warranties provided by the manufacturer / supplier of the vehicle. • The hirer shall insure the vehicle and forward the insurance copies to the finance company regularly every year. • He has to pay all duties, taxes and fees or any other outgoing payables in the respect of the vehicle and to indemnify the finance company against all such payments. • To maintain the vehicle in a good and servicable order. • To permit the finance company to inspect the vehicle from time to time. • Not to sell, assign, mortgage, encumber or in any other way part with the possession of the vehicle without the permission of the finance company. • To intimate the finance company of any chan
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