Terms and Conditions
Luxe for Lease Pte Ltd reserves the right, to change or terminate this Agreement.
- If you return an item with excessive or abusive damage exceeding normal wear and tear, as determined by Luxe for Lease Pte Ltd in its sole discretion, you agree that Luxe for Lease Pte Ltd may charge your credit card and collect the full retail price for such an item. You are also responsible in the event of a theft or loss of an item and therefore you will be responsible for the full retail price immediately upon notification of the loss of the item. Rental fees will continue to accrue until the payment is received in full. Also, Luxe for Lease Pte Ltd reserves the right to close your account at any time if we notice multiple cases of excessive damage or abuse to the items you have borrowed.
- Actual Damages- In the case of a failure to pay any debts or to return any item(s) when due to Luxe for Lease Pte Ltd, you will be liable to Luxe for Lease Pte Ltd for its ACTUAL DAMAGES, including but not limited to the then-current borrow payment for each item until said item is received by Luxe for Lease Pte Ltd in an undamaged condition. If said item has not been returned in an undamaged condition before the expiration of 90 days after the date of default, then Luxe for Lease Pte Ltd at its option may alternatively charge you the MSRP as maintained by Luxe for Lease Pte Ltd for that item, plus 2 weeks rent from the date of default, or seek to recover the wrongfully-retained item plus all rent owed to the date of recovery of the undamaged item. If suit is filed, Luxe for Lease Pte Ltd may assert these measures of damage simultaneously. If an item is not recovered, or if it is recovered in a damaged condition, then Luxe for Lease Pte Ltd will charge you the MSRP as maintained by Luxe for Lease Pte Ltd for said item, plus 90 days rent from the date of default.
- Liquidated Damages- Luxe for Lease Pte Ltd spends significant internal resources on its efforts to reduce and recover losses flowing from customer non-payments, from the theft and/or wrongful retention of its products, and from other improper, negligent or fraudulent acts. Because the amount of these internal losses are extremely difficult to calculate, you agree that Luxe for Lease Pte Ltd is also entitled to collect LIQUIDATED DAMAGES-IN ADDITION TO ITS ACTUAL DAMAGES-if Luxe for Lease Pte Ltd commences collection or legal action to recover any amounts due from you, and/or to recover property wrongfully retained by you. In all cases, the LIQUIDATED DAMAGES will consist of a $500 per-item charge for each item that remains unpaid and/or unreturned at the time that Luxe for Lease Pte Ltd commences collection or legal action, which sum is intended to compensate for the expenditure of Luxe for Lease Pte Ltd’s internal resources as a result of your breach of contract, fraud or other wrongful or negligent acts. In cases where Bag Borrow or Steal has been unsuccessful in recovering its merchandise in an undamaged condition prior to the entry of a judgment against you, then Luxe for Lease Pte Ltd LIQUIDATED DAMAGES will also include an additional 12 weeks rental charge to cover the period from day 91 to 180 following your default. This second, 90-day Luxe for Lease Pte Ltd period is intended to provide a reasonable estimate of Luxe for Lease additional lost RENTAL income caused by your wrongful retention of Luxe for Lease Pte Ltd property. It will be charged to you at the same rate as was actually charged for the first 90-day default RENTAL period. You understand and agree that the LIQUIDATED DAMAGES of (i) $500 per item plus (ii) the second, 90-day borrow period for items that are not recovered in an undamaged condition, are not a penalty, but instead are reasonable and necessary estimates of the sums needed to compensate Luxe for Lease for the loss of its internal resources and for the loss of its future RENTAL income.
- Attorneys’ Fees, Costs and Interest- If Luxe for Lease Pte Ltd commences litigation to recover its property from you, to recover ACTUAL DAMAGES, and/or to recover LIQUIDATED DAMAGES; you agree that the substantially prevailing party will be entitled to recover its reasonable attorneys’ fees and expenses of litigation. You further agree that Bag Borrow or Steal will be entitled to recover prejudgment interest on its ACTUAL DAMAGES and it’s LIQUIDATED DAMAGES from the date of default to the date of judgment entry at the rate of 12% per annum.
- Should you change your mind 2 days before the collection of bag, contact Luxe for Lease Pte Ltd via either whatsapp/phone or email and to continue the lease.
- Otherwise, if the lease is to be terminated and collection has been scheduled, Luxe for Lease will automatically cancel any ongoing suscription of the lease and it will be reflected in your credit card bill within 6 working days of the day from the collection of the bag.
- Reservation of Rights- Luxe for Lease Pte Ltd expressedly reserves its right to seek additional elements of actual damages other than those expressly identified above.