Lessee Terms

1. Introduction

1.1 These Lessee Terms and Conditions describe:

the relationship between a Lessee and Equipal;
who can be a Lessee on the Platform;
how a Lessee can lease Equipment from Lessors; and
the Intermediary Services that we provide on the Platform.

1.2 These Lessee Terms and Conditions should be read in conjunction with other important documents and guidance. These are:

our Website Terms of Use;
the Hire Purchase Agreement; and
our Privacy Policy.

1.3 You should keep a copy of these Lessee Terms and Conditions safe for future reference. You can also download the latest version from our Website here.

1.4 In these Lessee Terms and Conditions “we”, “us” or “our” means Equipal. “You”, “your”, “it” or “its” means the Lessee. Words which appear in bold and have a capital letter are defined in the Glossary in condition 16 at the end of these Lessee Terms and Conditions.

1.5 Before you create a Lessee Account on the Platform, you must read these Lessee Terms and Conditions.

1.6 By creating a Lessee Account, you agree to be bound by these Lessee Terms and Conditions. You agree to access and use the Platform and the Website for the purposes of leasing Equipment, or applying to lease Equipment, from Lessors as envisaged by, and in accordance with, these Lessee Terms and Conditions.

1.7 If, after reading these Lessee Terms and Conditions, you feel you are not able to comply with your obligations under them, or you do not wish be bound by them, then you should not proceed to create a Lessee Account or start a Finance Request.

1.8 If you have any question or queries, you should contact us by email at sme@equipal.co or by telephone on 07947 540798.

2. The Platform and Equipal’s role

The Platform is an introduction platform that matches those who wish to supply and/or fund Equipment with those who wish to lease and use Equipment. Our role is to:

assess the creditworthiness of Lessees;
operate and manage the Website and the Platform;
match Lessors with Lessees;
identify Vendors that are able to provide the relevant Equipment;
facilitate the entry into of Hire Purchase Agreements and Finance Documents; and
produce the Hire Purchase Agreements and Finance Documents via the Platform for electronic signature by the parties.

3. Our agreement with you

3.1 These Lessee Terms and Conditions set out the basis of our relationship with you as a Lessee.

3.2 We do not guarantee you will be able to lease Equipment through the Platform.

3.3 It is important to note that our role is to introduce you to Lessors who may be willing to hire Equipment and Vendors who may be able to supply that Equipment. You must ensure that you are satisfied with any such arrangements made between you and the Lessor via the Platform. The Hire Purchase Agreement will set out the basis of your relationship with the Lessor.

3.4 Similarly, we have not selected the Equipment and provide no warranty, representation or guarantee in relation to it. You must ensure that you are satisfied with the Equipment ordered via the Platform.

4. Lessee Eligibility Criteria

4.1 To access and use the Platform for the purposes of leasing Equipment you must create a Lessee Account and start a Finance Request. To be eligible to do so, you must satisfy the following Lessee Eligibility Criteria (unless we otherwise agree):

you must have been actively trading as a business for at least twelve months and not have been dormant at any time;
you must be conducting business for the purposes of making a profit (public bodies, charitable organisations and trusts are not eligible unless we have given our specific prior written consent);
you must be a limited company and registered at Companies House;
at least one of your directors must be a permanent resident of the UK (excluding the Channel Islands and Isle of Man) and your directors must be free of any criminal conviction and free of any substantial adverse credit history;
your company should not have any substantial negative history or be subject to any material CCJs.
your permanent place of business and residency, or centre of main interests, must be in the UK (excluding the Channel Islands and Isle of Man);
you must have, and maintain, a valid bank or building society account in the UK (excluding the Channel Islands and the Isle of Man);
you must answer our reasonable requests for information from time to time; and
you must provide us with all information and documents that we may reasonably request about you and your financial condition, business and affairs from time to time. For example, we may request information from you to allow us to fulfil our legal obligations and to ensure the proper operation of the Platform. You must notify us when any of the information or details you have provided to us changes.

4.2 We may change the Lessee Eligibility Criteria from time to time. We will notify you of any change by sending an e-mail to your registered e-mail address in accordance with condition 15.2.

4.3 If you cease to satisfy the Lessee Eligibility Criteria we may close your Lessee Account on the Platform in accordance with the process set out in condition 10 (Ceasing to be a Lessee with Equipal and termination).

5. Registering as a Lessee

5.1 Before you can lease Equipment through the Platform, you must register a Lessee Account (https://app.equipal.co/sme).

5.2 We have absolute discretion whether to accept or reject an application to register as a Lessee and any subsequent Finance Request, even if you satisfy the Lessee Eligibility Criteria.

5.3 You confirm and agree that, when you register as a Lessee and for so long as you maintain that registration and use the Platform:

you meet the Lessee Eligibility Criteria;
the information you provide to us is true and accurate in all respects and is not misleading;
you have disclosed to us all circumstances that you are aware of (including but not limited to any legal claims, undisclosed liabilities, litigation, court proceedings or investigations which are current, threatened, pending or otherwise reasonably likely to occur against you by any third party) which could materially and adversely change your financial condition, business or assets, and you must inform us if there is any change in these circumstances;
you have not omitted to tell us any information which could reasonably be considered relevant to an application for credit;
you will ensure that no unauthorised person can access or use your Lessee Account;
you have the power to enter into these arrangements with us and the Lessor and to deliver and perform your obligations to us and the Lessor and to carry out the transactions contemplated and that all necessary corporate or other action by you to authorise the execution, delivery and performance of the same;
you will ensure that all documents we require from you are validly executed and you will comply with all instructions in relation to the review and approval of these documents;
the person creating and maintaining the Lessee Account is properly authorised to represent you but only a director of your company can submit a Finance Request, sign the Hire Purchase Agreement and enter into a legally binding agreement with us and the Lessor. You will ensure that only authorised persons are able to access or use your Lessee Account and you will provide us with written evidence of your authority to act if and when requested; and
you understand that by entering into a Hire Purchase Agreement through the Platform, you will be leasing Equipment from a Lessor, and you accept that you are fully responsible to comply with your obligations under the Hire Purchase Agreement in respect of the lease of that Equipment.
you authorise us to carry out limited, soft search director checks on the current directors of the company.

5.4 If any of the statements in condition 5.3 cease to be true while you maintain a Lessee Account you must contact us as soon as possible by email at sme@equipal.co or by telephone on 07947 540798 to tell us.

5.5 You must update your Lessee Account when your details change, or tell us and we will update your details.

5.6 When you create your Lessee Account you must provide a username, a valid e-mail address, a password, phone number and certain security information. Your username and password are unique to your Lessee Account and are non-transferable without our specific prior written consent. You will need them to access certain restricted areas of the Website.

5.7 You must keep your username, password and security information secure and confidential. You are responsible for all activity on or through your Lessee Account, the Platform, and in connection with your Nominated Bank Account, including all activity by anyone that uses your username, password and security information, whether or not they have been authorised by you. You must provide all authorised persons with a copy of these Lessee Terms and Conditions and ensure that they comply with them when accessing and using the Platform and the Lessee Account.

5.8 You must not transfer your Lessee Account to another person, or permit another person to use your Lessee Account, without our specific prior written consent.

5.9 You must notify us immediately if you believe that an unauthorised person is using your Lessee Account or the security of your Lessee Account has been or might be breached.

5.10 We can assume that all Finance Requests, agreements, correspondence, orders, transfers and instructions made by reference to your username and password are made by you.

5.11 We can decline to act on your instructions or suspend your Lessee Account if we suspect illegal or fraudulent activity or unauthorised use of your Lessee Account.

6. Hire Purchase Agreements

6.1 The Platform allows you to request finance on a piece or a package of equipment by submitting a Finance Request. Before you submit a Finance Request you should ensure you have read our Privacy Policy so that you understand how you will use any personal information you provide to us.

6.2 If a Vendor wishes to supply the Equipment listed in a Finance Request it will provide the Vendor Information via the Platform. If the relevant Vendor of the Equipment the subject of a Finance Request is not registered with the Platform, we will, on your request, contact the relevant Vendor in order to obtain the Vendor Information which will then be made available via the Platform. Where the Vendor is not registered with the Platform you acknowledge and agree that you have selected the Equipment and the Vendor to meet your requirements after conducting appropriate diligence and have not relied on advice from us or from the Lessor in doing so.

6.3 If we accept your Finance Request, it becomes a Live Finance Request. It is entirely at our discretion whether to accept a Finance Request or not.

6.4 Once all our requirements in relation to your Finance Request have been satisfied and your Finance Request becomes a Live Finance Request, Lessors are able to view it on the Platform and to make a Finance Offer for you to consider. The details of the Finance Offer may differ from the Finance Request you made, and it is your responsibility to check that you are satisfied with these details and that the Finance Offer meets your requirements. If you wish to accept a Finance Offer you must do so prior to the Offer End Date.

6.5 Following your acceptance of a Finance Offer you will be required to pay the relevant Deposit and any applicable VAT to the Vendor (on behalf of the Lessor) and to then enter into a Hire Purchase Agreement. You acknowledge and agree that in making the payments to the Vendor which are required of you pursuant to this condition, you have no interest in the title to the Equipment which will pass from the Vendor to the Lessor directly. You also acknowledge that you are responsible at your own cost for liaising with the Vendor in respect of the delivery of the Equipment. All obligations (as owner) under the Hire Purchase Agreement are the responsibility of the Lessor and not Equipal.

6.6 We may:

withdraw Live Finance Requests if they cannot be fulfilled by Lessors;
withdraw Live Finance Requests if we consider it necessary to do so; and/or
monitor and regulate the availability and functionality of the Platform.

7. Payments

7.1 You will make payments of the Deposit, any Rental Payment and the Purchase Option Price (if the Purchase Option applies to the relevant Hire Purchase Agreement) in accordance with the terms of each Hire Purchase Agreement. You will also be liable to pay all other fees, costs, charges and expenses that are referred to in each Hire Purchase Agreement.

7.2 In order to enter into a Hire Purchase Agreement you may be obliged to arrange insurance that covers the value of the Equipment against losses that could be incurred due to theft, fire or risk.

7.3 In order to enter into a Hire Purchase Agreement you may be obliged to enter into a maintenance agreement with the Vendor or a third party for the duration of the Hire Purchase Agreement.

7.4 Neither we nor any company in the Equipal Group of Companies guarantee any payments that are due from you to each Lessor under any Hire Purchase Agreement or any maintenance agreement you enter into with the Vendor. Our only involvement is to provide you with the Intermediary Services and we have no responsibility, obligations or liability in respect of the delivery or quality of the Equipment, the obligations of the Lessor under the Hire Purchase Agreement or the provision of any services pursuant to any maintenance agreement.

8. Transfer of Hire Purchase Agreements

You should be aware that each Lessor that is a party to a Hire Purchase Agreement with you may transfer their rights and obligations under that Hire Purchase Agreement to another Lessor.

9. Amendments

9.1 We may make changes to these Lessee Terms and Conditions from time to time without your consent for any of the following reasons:

to make these Lessee Terms and Conditions clearer or easier to understand;
to make changes which benefit you or do not disadvantage you;
to make changes to the products or services we offer or provide to you, to introduce new products or services or to withdraw products or services we no longer offer;
to change our existing products or services because of changes to technology, systems, processes or our business policies or procedures; or
to reflect changes in law, regulation, industry guidance or a decision of a court or by a regulator or ombudsman.

9.2 We will always try to give you not less than 30 calendar days notice of an amendment to these Lessee Terms and Conditions in the manner described in condition 15.2. However, this may not always be possible and we may make changes on shorter notice periods.

9.3 By continuing to access and use the Platform after any changes to these Lessee Terms and Conditions, you accept and agree to be bound by the updated Lessee Terms and Conditions.

10. Ceasing to be a Lessee with Equipal and termination

10.1 If you no longer wish to be a Lessee then, provided you have no Hire Purchase Agreements in force and no other amounts outstanding under them or under these Lessee Terms and Conditions or any Hire Purchase Agreement, you can notify us at any time and we will close your Lessee Account.

10.2 We may give you not less than 30 days notice that we intend to close your Lessee Account.

10.3 Notwithstanding condition 10.2, we may close your Lessee Account at any time if:

you breach any term of these Lessee Terms and Conditions, the Website Terms of Use or the Privacy Policy;
you breach any term of a Hire Purchase Agreement and fail to remedy the breach within any period notified to you or, if no notification is provided, within a reasonable period;
you cease to be an eligible Lessee because you do not satisfy the Lessee Eligibility Criteria;
you do not respond to our reasonable requests for, or fail to provide, information or documentation;
we suspect that you have committed or have been involved in fraud, money laundering or other criminal activities;
we discover that any information you have provided to us is materially incorrect, inaccurate, false or misleading;
you use the Platform or any information obtained or discovered through being a Lessee with us to canvass or solicit any person from Equipal;
you use the Platform for a purpose for which the Platform is not intended or other than as a marketplace for leasing Equipment from Lessors;
you misuse the Platform in any other way; or
we believe that any action you undertake (or fail to take) will have an adverse effect on the Platform or Equipal’s reputation.

10.3 If we give you notice under condition 10.2, or terminate under condition 10.3 your Lessee Account will remain active for so long as you have outstanding Hire Purchase Agreements with Lessors but the functionality of your Lessee Account will be restricted and you will not be able to make any further Finance Requests.

10.4 Once you have paid all sums due to Lessors under the Hire Purchase Agreements, we will close your Lessee Account.

11. Your Liability To Us

11.1 You will be liable to us for any loss or foreseeable damage suffered by us as a result of:

any breach by you of these Lessee Terms and Conditions, any Hire Purchase Agreement or the Website Terms of Use;
your negligence or wilful default;
any fraudulent use by you or your employees of the Platform; and
any and all misuse of your username, password, the Website, the Platform or Lessee Account (including as provided for under condition 5 (Registering as a Lessee)).

11.2 You will not be liable to us for any loss or damage which is not foreseeable.

12. Our Liability To You

12.1 Subject to condition 12.3 we will be liable to you for any foreseeable loss or damage suffered by you as a result of:

any breach by us of these Lessee Terms and Conditions;
our negligence or wilful default; or
fraud committed by us or our employees.

12.2 We will not be liable to you for any loss or damage which is not foreseeable.

12.3 You acknowledge and agree that the Platform may be inaccessible or inoperable from time to time for many reasons, including (but without limitation):

equipment malfunctions;
periodic maintenance procedures or repairs which may be undertaken from time to time; or
causes beyond our control or which are not reasonably foreseeable by us.

We shall not be liable to you for any loss or damage suffered by you as a result of the Platform being in accessible or inoperable.

12.4 Nothing in these Lessee Terms and Conditions will exclude or limit our liability for death or personal injury caused by our negligence or fraud, or for any other liability that cannot lawfully be excluded or limited under applicable laws and regulation.

13. Complaints

13.1 We always try to offer the best service possible. However, if you are unhappy with any service or product offered by us or any Equipal Company please contact us by email at sme@equipal.co or by telephone on 07947 540798. We will endeavour to resolve your complaint as quickly and as fairly as possible.

13.2 More information on how to complain and how complaints are dealt with by us can be found on the Website.

14. Conducting Business through the Platform

By creating a Lessee account, you consent to the communication and delivery of elections and other communications and the creation of binding contracts, through the Platform, even though such actions are by electronic means rather than in writing on paper. You agree that such actions shall be valid and binding obligations of the parties, as if such actions had been taken in writing on paper. You hereby waive any claim or defence that the elections, contracts and other communications are not binding or enforceable or do not have their intended effect as a result of their being communicated electronically rather than in writing on paper.

15. Other Miscellaneous Terms

15.1 If any provision of these Lessee Terms and Conditions is found to be illegal, invalid or unenforceable by any court of competent jurisdiction, this will not affect the validity and enforceability of the remaining provisions.

15.2 The Platform is an online service and all documents or notices that we wish to send you may be delivered to you through the Website to your Lessee Account. You may also receive by email a prompt from time to time for you to log into your Lessee Account. We may also send you notices to the address you have registered with us, your main registered office or in any other manner we consider appropriate.

15.3 Our rights under these Lessee Terms and Conditions may be exercised as often as necessary, are cumulative and not exclusive of any rights or remedies provided by law. Delay in the exercise of any right granted to us in these Lessee Terms and Conditions is not a waiver of that right.

15.4 We may assign or transfer all or part of our respective rights and obligations under these Lessee Terms and Conditions to any person we reasonably consider capable of performing them. We may also exercise any of our rights through any Equipal Company or a service provider we engage. You cannot assign or transfer your rights and obligations under these Lessee Terms and Conditions.

15.5 These Lessee Terms and Conditions are governed by and construed in accordance with English law. If any dispute (whether contractual or non-contractual) arises out of, or in connection with, these Lessee Terms and Conditions, we and the Lessee submit to the non-exclusive jurisdiction of the English courts.

16. Glossary

Capitalised terms used in these Lessee Terms and Conditions have the following meanings:

Deposit: the deposit payable under a Hire Purchase Agreement in respect of the Equipment.

Equipment: the goods, equipment and/or software supplied or to be supplied to a Lessee.

Equipal Company: Equipal and all other companies within the Equipal Group of Companies.

Equipal: Barnsbury Road Finance Limited (company number 10318487) trading as Equipal whose registered office is c/o Kings CA, Unit 4 Grovelands, Boundary Way, Hemel Hempstead Industrial Estate, Hemel Hempstead, England, HP2 7TE

Equipal Terms and Conditions: each of the Vendor Terms and Conditions, the Lessor Terms and Conditions and the Lessee Terms and Conditions.

Event of Default: any event which gives the Lessor the right to terminate a Hire Purchase Agreement, as set out in paragraph 9 of Schedule 4 of the Hire Purchase Agreement.

Finance Document: any guarantee, indemnity, charge or other security given or proposed to be given in respect of the Lessee's obligations under the Hire Purchase Agreement.

Finance Offer: an offer by a Lessor to enter into a Hire Purchase Agreement in response to a Finance Request which sets out the Key Contract Terms.

Finance Request: an application made by or on behalf of a Lessee to receive offers of finance from Lessors in respect of the Equipment.

Group of Companies: in relation to a party, the holding company of that party, any subsidiaries of that party, and any subsidiaries of any holding company of that party, where "holding company" and "subsidiary" have the meanings given to them in s1159 Companies Act 2006.

Hire Purchase Agreement: the agreement entered into between the Lessor and the Lessee which sets out the terms on which the Lessor will provide hire purchase facilities to the Lessee in respect of the Equipment and which is entered into pursuant to a Live Finance Request.

Intermediary Services: the services Equipal provides through it being an intermediary that acts between Lessees and Lessors, as further outlined in condition 2 (The Platform and Equipal's Role).

Key Contract Terms: a summary of the terms on which the Lessor is willing to enter into a Hire Purchase Agreement, including details of the relevant Equipment, the relevant Lease Payments and any Special Conditions.

Lessee: a lessee under a Hire Purchase Agreement and, as applicable, a person who is applying to lease Equipment from a Lessor through the Platform.

Lessee Account: the account which a Lessee requires to hold with Equipal in order for a Lessee to access the Platform.

Lessee Eligibility Criteria: the criteria for eligibility that must be satisfied by a Lessee as specified in condition 4 (Lessee Eligibility Criteria).

Lessee Terms and Conditions: these terms and conditions that govern the relationship between a Lessee and Equipal, as amended or replaced from time to time.

Lessor: a person who has a Lessor Account on the Platform, including those who lease to a Lessee.

Lessor Terms and Conditions: the terms and conditions that govern the relationship between a Lessor and Equipal, as amended or replaced from time to time.

Live Finance Request: a Finance Request when accepted by Equipal and listed on the Platform.

Lease Payments: the standard payments to be made in respect of the hire of Equipment under a Hire Purchase Agreement, including, but not limited to the Deposit, Rental Payments and any Purchase Option Price.

Live Finance Request: a Finance Request when accepted by Equipal and listed on the Platform.

Nominated Bank Account: the bank account in the name of the Lessee the details of which are registered with Equipal during the Lessee Account creation process.

Offer End Date: the date specified as such by the Lessor in a Finance Offer.

Platform: the online equipment leasing marketplace platform operated by Equipal that facilitates the leasing of Equipment between Lessors and Lessees.

Purchase Option: the right (if applicable) of a Lessee under a Hire Purchase Agreement, to purchase the Equipment from the Lessor.

Purchase Option Price: the amount payable under a Hire Purchase Agreement by the Lessee in order to exercise the Purchase Option.

Rental Payments: the rental payments payable by the Lessee to the Lessor under a Hire Purchase Agreement.

Special Conditions: any additional conditions that the Lessor requires to have satisfied before it enters into a Hire Purchase Agreement, including but not limited to the provision of a landlord's waiver or the entry into a Finance Document.

Vendor: the manufacturer and/or supplier of the Equipment.

Vendor Information: means the details of the Equipment, the warranties available in respect of the Equipment, its relevant purchase price and other payment details or requirements of the Vendor.

Vendor Terms and Conditions: the terms and conditions that govern the relationship between a Vendor and Equipal, as amended or replaced from time to time.

Website: https://www.equipal.co and the Equipal mobile app.

Website Terms of Use: the terms that govern the use of the Website (including the Equipal mobile app) which can be found here https://equipal.co/terms