1. INTELLECTUAL PROPERTY RIGHTS AND REMEDIES FOR BREACH OF MODULAR AND BACKDROPS
1.1. The specification and design of the Goods (being all intellectual property, including but not limited to, copyright, design right, trademarks or other intellectual property) remains the property of the Lessor.
1.2. The Lessee must not reverse engineer, digitally print, copy or manufacture any component of the Goods, nor make available to any person or legal entity worldwide to reverse engineer, digitally print, copy or manufacture any component of the Goods.
1.3. The Lessee understands that the terms of Clause 1.2 are material to the consideration of Backdrops Fantastic I Modular Backdrops I Event Letters I Events Fantastic to rent the Goods to the Lessee, and that the copyright and patent rights in respect to the Goods and componentry in respect to are protected intellectual rights and moral rights which cannot be contravened by the Lessee.
1.4. If the Lessee breaches any of Clauses 1.2 through 1.3, the Lessor has all rights reserved under the laws of the Commonwealth of Australia.
1.5. The Lessee gives consent to the Lessor that if the Lessee breaches Clause 1.2 that it will be liable to the Lessor for not less than a liquidated damage of $1,100 per modular panel, $3,000 per Backdrop manufactured by the Lessee or its agents, and $330 per Modular componentry part manufactured by the Lessee or its agents (Infringing Products). In addition, the Lessee consents to provide an accounting of profits for all transactions, dealings, uses, leases, hires and sales in respect to the Infringing Products of Backdrops / Modular Backdrops, and to deliver up the Infringing Products (at the cost of the Lessee).
2. PAYMENT TERMS & CANCELLATIONS
2.1. 50% (FIFTY PER CENT) nonrefundable deposit is required within 7 (Seven) days of confirmation of the booking.
2.2. The balance of payment shall be payable in advance, 14 (Fourteen) days prior to the Leased Product being dispatched from The Lessors place of business.
2.3. In the event that The Lessee cancels the booking after confirmation and 30 days or more before the scheduled dispatch date, the Lessee shall forfeit the 50% deposit.
2.4. In the event that The Lessee cancels the booking after confirmation and 30 days or less before the scheduled dispatch date, the Lessee shall forfeit the full rental fee less freight charges.
3.1. The Lessee undertakes to use the Leased Product only in circumstances for which the Leased Product was designed.
3.1.1. Light Up Letters are not designed to be used for the following:
22.214.171.124. In any form of inclement weather where exposure to the elements (including but not exclusive to rain, wind, fire, mud, dirt)
126.96.36.199. In venues/locations where product may be exposed to any fluids, dirt or materials that may damage the painted surface of the letter.
4. MAINTENANCE AND REPAIR OF THE LEASED PRODUCT
4.1. For the duration of the Agreement the Lessee undertakes to handle the Leased Product with the utmost care and to reasonably maintain the Leased Product.
4.2. The Lessee is aware that the Leased Product is expensive to produce and costly to repair, and in the event that the Leased Product is damaged in any way the repair, replacement or cleaning costs will be borne by The Lessee with invoice issued within 7 (Seven) days of the items return to the Lessors place of business, payment is due immediately and is not negatable;
Indication on cost of damage if it were to occur:
Light Bulb – $20
Bulb Fitting – $50
Remote Control – $30
Damage to Letters Requiring Repair – minimum $150 per letter
Damage to Backdrops Requiring Repair – minimum $300
Damage to Modular Panel – minimum $75 per panel
Components to Modular Panel (QR Levers, boxes, dust bags) – Actual Cost
Cleaning Fee Modular Panel $3 per panel