Terms of Service

Welcome to LEASIT! These Terms of Service ("Terms") constitute a legal agreement between you ("Customer," "you," or "your") and LEASIT India Private Limited ("LEASIT," "we," "us," or "our") regarding your use of our asset leasing platform and services.

By accessing or using our website, mobile application, or services, you agree to be bound by these Terms. If you do not agree to these Terms, please do not use our services.

• "Services" means all services provided by LeaseIt, including but not limited to asset leasing, equipment financing, and related support services.
• "Equipment" means any machinery, vehicles, or other assets made available through our leasing programs.
• "Lease Agreement" means the specific contract governing the lease of particular equipment.
• "Platform" means our website, mobile applications, and related digital services.
• "Customer" means any individual or business entity using our services.

Eligibility Requirements

To use our services, you must:

• Be at least 18 years old and legally capable of entering contracts
• Operate a legitimate business registered in India
• Have a minimum annual turnover of ₹10 lakhs
• Be in business for at least 6 months
• Provide accurate and complete information

Account Registration

When registering for an account, you agree to:

• Provide true, accurate, and complete information
• Maintain and update your information as necessary
• Keep your login credentials secure and confidential
• Notify us immediately of any unauthorized access
• Accept responsibility for all activities under your account

Asset Leasing Services

LeaseIt provides interest-free asset leasing services including:

• Equipment financing for various business needs
• Flexible lease terms and payment options
• Equipment maintenance and support coordination
• Insurance and warranty management
• End-of-lease options including purchase and renewal

Platform Services

Our platform provides:

• Online application and approval processes
• Account management and payment tracking
• Customer support and communication tools
• Document management and storage
• Reporting and analytics

Application Submission

When submitting a lease application, you agree to:

• Provide complete and accurate financial information
• Submit all required documentation promptly
• Allow us to verify information with third parties
• Cooperate with our due diligence process
• Pay any applicable application or processing fees

Approval and Rejection

LeaseIt reserves the right to approve or reject any application at our sole discretion. We may consider factors including creditworthiness, business viability, industry risks, and regulatory compliance. Rejection does not require specific reasons to be provided.

Lease Documentation

Each approved application will result in a separate Lease Agreement containing specific terms for that equipment. These Terms of Service are incorporated by reference into all Lease Agreements.

Payment Obligations

As a lessee, you agree to:

• Make all lease payments on time according to the agreed schedule
• Pay any applicable taxes, fees, and charges
• Maintain adequate insurance coverage on leased equipment
• Cover costs for maintenance and repairs as specified
• Pay penalties for late payments or defaults

Equipment Use and Care

You agree to:

• Use equipment only for legitimate business purposes
• Maintain equipment in good working condition
• Follow manufacturer guidelines and safety protocols
• Allow inspection of equipment by our representatives
• Notify us immediately of any damage or malfunction

Prohibited Activities

You may not:

• Provide false or misleading information
• Use our services for illegal or unauthorized purposes
• Attempt to circumvent our security measures
• Transfer or sublease equipment without authorization
• Interfere with other users' access to our services
• Reverse engineer or copy our platform or technology

Compliance Requirements

You must:

• Comply with all applicable laws and regulations
• Maintain proper business licenses and permits
• Keep accurate financial records
• Report material changes to your business
• Cooperate with regulatory investigations if required

All content on our platform, including text, graphics, logos, software, and design elements, is owned by LeaseIt or our licensors and protected by intellectual property laws. You may not copy, modify, or distribute our content without written permission.

You retain ownership of information you provide to us but grant us a license to use it for providing our services, improving our platform, and complying with legal requirements.

To the maximum extent permitted by law, LeaseIt's liability is limited to the amount of lease payments received from you in the 12 months preceding the claim. We are not liable for:

• Indirect, incidental, or consequential damages
• Lost profits, revenue, or business opportunities
• Equipment defects or performance issues
• Third-party claims or actions
• Force majeure events beyond our control

Termination by Customer

You may terminate your account at any time, subject to fulfilling all outstanding lease obligations. Early termination may result in additional fees as specified in individual Lease Agreements.

Termination by LeaseIt

We may terminate your access to our services for:

• Breach of these Terms or any Lease Agreement
• Non-payment of amounts due
• Fraudulent or illegal activity
• Material adverse change in your business
• Regulatory or legal requirements

Any disputes arising from these Terms or our services shall be resolved through:

• First, good faith negotiations between the parties
• If unresolved, binding arbitration under Indian Arbitration Act
• Arbitration to be conducted in Bangalore, Karnataka
• Governing law shall be the laws of India
• Courts in Bangalore shall have exclusive jurisdiction

We may modify these Terms at any time by posting updated terms on our website. Material changes will be communicated via email or platform notifications. Continued use of our services after modifications constitutes acceptance of the updated Terms.

Contact Information

For questions about these Terms of Service, please contact us:

• Email: legal@leaseit.co.in
• Phone: +91 98765 43210
• Address: LeaseIt India Private Limited, 1234 Business District, MG Road, Bangalore - 560001, Karnataka, India