Terms Of Trade
In the following terms of trade Waimea Group NZ Ltd is called “Waimea” or “the Firm”. The person or business purchasing
goods or services is called the Customer or the Buyer. Goods are those as defined on the front of this quote. The Act means
the Personal Property Securities Act 1999.
Payment for the goods shall be made prior to delivery or uplifting of the goods unless otherwise specifically agreed to in
Interests & Costs
Interest is payable at 2.5% per month calculated daily on any unpaid sums whether before or after any judgment is entered.
If the Firm incurs any liability or expense while enforcing its rights under this agreement such costs shall be payable to the
Firm by the Customer upon demand.
Payments received from the Customer shall firstly be applied to any outstanding costs or interest and shall then be applied
to unpaid purchase money.
The Firm reserves the right to pass on to the Customer cost increases which result from any relevant movement in exchange
rates or shipping costs which occur between the date the purchase order is completed and the date the goods are delivered.
Risk in the goods shall pass to the Customer on receipt or uplifting of the goods by the Customer (or their transport agent)
whichever occurs first.
Property In The Goods
The goods shall remain the property of the Firm until they have been paid for in full and the Customer agrees the Firm has a
security interest in the goods and the proceeds of sale of the goods in accordance with the Act.
Overdue Payment and Progression
If payment by the Customer is overdue the Firm may, notwithstanding section 109 of the Act, recover and resell the goods
and this agreement is authority to the Firm to enter on to any premises where the goods are being stored to remove them.
The Customer indemnifies the Firm against liability arising from actions taken by the Firm for the purpose of effecting
repossession or as a result of repossession.
Delivery And Supply
The date for delivery recorded in this quote is an estimate only and the Firm is not responsible for nor is under any liability
for any loss or expense incurred by the Customer as a result of any delay. In the event that the delivery or supply of the goods
is prevented or becomes impractical on the terms agreed for any reason whatsoever the Firm can choose to cancel the
agreement and refund any deposit and/ or return any trade-in goods received as part payment.
Warranties And Excluded
The warranties as to merchantable quality and fitness for purpose implied by the Sale of Goods Act 1908 are excluded from
In the event of the goods sold or leased under this agreement being supplied for the purpose of a business:
- A. The guarantees implied under the Consumer Guarantees Act 1993 are excluded.
- B. The Firm shall not be liable for any loss including any consequential loss suffered by the Customer
- whether from defects in manufacture, faulty materials or design or omissions or negligence on the part of the Firm
- except where such loss is the direct result of the normal operation of the machine and the loss is not attributable
- to a fault on the part of the Customer.
The Firm shall not be liable in all events for any loss or damage suffered by the Customer as a result of adverse weather, acts
of terrorism or vandalism, floods, fire, earthquake or any other act of God, industrial action, road closure or third-party
The Customer acknowledges that any advice and/ or information provided by the Firm relating to the use, application, quality
or fitness of the goods for their purpose is given in good faith and is based on information provided to the Firm by the
Customer and any decision to purchase or use the goods is the Customer’s decision alone and is not made reliance upon any
warranty or representation by the Firm.
Where the Firm accepts a trade-in as part payment of purchases of goods or machinery then the Customer warrants that
they own the property and that it is not subject to any security, charge, loan or hire purchase agreement.
If there is failure in any way to fulfil the terms of this order by the Customer or should at any time the Customer want to
cancel the delivery of the goods, the Firm may choose to retain any deposit paid or trade-in under Clause 13 as part payment
of damages for breach of contract by the Customer without limiting the amount of any damages which may be payable by
the Customer in that event.
Used Machines And Products
Any used goods or machinery or parts are sold on ‘as is where is’ basis without any warranty or guarantee of any kind. The
Customer acknowledges that they will be responsible for licensing (if any) and full insurance of the machine or product from
the point where risk passes.
- A. The Terms of Trade are the only Terms which apply to the Customer’s transaction.
- B. These Terms may not be varied otherwise than by agreement in writing.
- C. Agreement to vary or suspend enforcement of any terms shall not be treated as waiver of any term(s).
Waimea has been in business for many years and we will do what we can to ensure you are satisfied with our goods and
services. If you are not satisfied for any reason tell us about it and we will do whatever we reasonably can do to ensure your
satisfaction and your continued business.
New Zealand Law
New Zealand law will apply to these Terms of Trade.
Terms And Conditions Applicable To Hire
In the event of an operator query, servicing requirement or break down, please call 0800 606061.
a. ‘Waimea’ means Waimea Group NZ LTD, whether or not the Equipment is vested in Waimea.
b. ‘Hirer’ means the person, firm or corporation hiring the Equipment.
c. ‘Controller’ means the person who controls a place of work. A person who controls a place of work is a) the owner,
lessee, sub-lessee, occupier or person in possession of the place or any part of it or b) the owner, lessee, sub-lessee or
bailee (person entrusted to look after goods) of any plant and or Equipment in the place. The person who controls and
takes responsibility that the operators are competent and are in a fit state and safe to operate.
d. ‘Equipment’ means the Equipment and any accessories scheduled above which Waimea agrees to hire to the Hirer.
Hours of Operation
Monday to Friday 7:30 am to 5:00pm.
can be either:
a. Business day, 10 hours or 24-hour period.
b. 1⁄2 Day, 5 hours of Business day or 12 hr period.
Are for 5 days.
Are for a minimum of 28 days.
a. Each period shall be from the Waimea’s yard, to return. The Hirer will pay hire charges at the rate specified.
b. There is no exception for non-working time unless by specific written notification, and the Waimea’s acceptance.
What Is Included
a. Purchasing and pre-delivery preparation of the Equipment (Pre Hire Check (PHC)
b. Routine preventative and scheduled maintenance including tyres.
c. Registration and CoF fees.
d. Crane/ EWP testing and certification.
What Is Not Included
a. Driver/ operator related expenses.
b. Fuel, between service top-up oil.
c. RUCs are not included unless otherwise stated.
d. Insurance (unless selected above), accident damage, punctures, excessive wear or Equipment misuse repairs/
e. Any guarantee from Waimea that any Equipment hired or quoted is suitable for the intended use of the Hirer.
f. The Hirer accepts full responsibility for and shall keep Waimea indemnified against all liability in respect of all
actions, proceedings, claims, infringements, speed camera offences, damages, costs, and expenses in respect of any injury
to persons or damage to property arising out of the use of the Equipment during the hire period however arising and
whether or not arising from any negligence, failure or omission of the Hirer or any other persons.
g. All fines, charges and tolls incurred by the Hirer will be paid by Waimea and the Hirer shall reimburse Waimea for
these plus a $50 plus GST administration fee for each such charge.
a. The Hirer shall keep the Equipment insured against fire, accident, theft, loss, windscreen damage (if applicable) and
such other risks as the Waimea may require in the names of the Waimea and the Hirer for their respective rights and
interests under a comprehensive policy of insurance and with an insurer approved by the Waimea and for the full insurable
value of the Equipment. The Hirer shall punctually pay the premiums for the insurance and shall (if the Waimea shall
require) deliver the policies and the premium receipts to the Waimea. The Hirer shall not do or permit or suffer to be done
anything which may prejudice any relevant insurance policies. The Hirer shall also have third party liability insurance of no
less than $2,000,000.00.
b. The Waimea shall be entitled to receive all moneys payable under such a policy of insurance or payable by any other
person in respect of damage to or loss of an item of Equipment.
c. If in the Waimea’s opinion any Equipment suffers damage so as to be beyond repair or an insurance write-off or is
stolen and not recovered, then:
i.the Hirer shall immediately pay to the Waimea an amount equal to the aggregate of all amounts that would have
been payable under Clause 32. b had the hire of that Equipment been terminated as from that date under
Clause 32 (less the amount of any insurance proceeds received by the Waimea); and
ii.if required by the Waimea, the Hirer will immediately return the Equipment to the Waimea, unless
the Equipment is not capable of being returned as a result of the damage caused or unless the Equipment has
been required to be transferred to the relevant insurer under the terms of any relevant insurance policy; and
iii.the hire of such Equipment shall terminate on the date upon which those monies are received by the Waimea.
d. For the avoidance of doubt, the Waimea is not bound to credit any insurance payment received by it towards any
amounts payable by the Hirer under this Agreement, unless the Waimea has first received all amounts it is entitled to
receive under this Agreement.
e. If any Equipment suffers damage other than as described in clause 9.c , the Hirer shall forthwith arrange for repairs
to be carried out at a repairer or service agent approved by the Waimea and to the satisfaction of the Waimea. The
Waimea may at its discretion use any insurance monies either:
i.towards meeting the cost of repairing damage to the Equipment and (if Waimea shall require) the Hirer shall pay
to Waimea an amount equal to any excess imposed by the insurer and Waimea may apply that amount in the
same way; or
ii.in satisfaction of any monies payable by the Hirer to Waimea.
f. The Hirer shall be liable to pay for any excess on insurance.
Risk To Equipment/Indemnity
a. Waimea owns the Equipment and title will not pass to the Hirer. The Hirer will be a bailee only.
b. The Equipment shall be at the risk of the Hirer until returned to Waimea.
c. The Hirer accepts full liability for the Equipment.
d. The Hirer shall indemnify Waimea against all liability in respect of all actions, proceedings, claims, infringements,
speed camera offences, damages, costs and expenses in respect of any injury to persons or damage to property or
the Equipment arising out of the use of the Equipment during the hire period however arising and whether or not arising
from any negligence, failure or omission of the Hirer or any other persons.
Availability Of Equipment And Acceptance
a. The arrival of the Equipment to the Hirer and the commencement of use of the Equipment by the Hirer shall be
deemed to be the Hirer’s acceptance of the Terms and Conditions of Hire in this agreement.
b. This applies whether the Commercial Hire Agreement is signed or not.
Condition Of Equipment – Checks
a. Prior to delivery the Equipment will be subject to a ‘Pre Hire Check (PHC) to be arranged by Waimea. Any damage
caused during the hire period will be established by reference to the PHC and any damage of any description and
howsoever caused shall be the responsibility of the Hirer. The Hirer will complete daily checks to ensure that
the Equipment is fit for purpose.
b. Notwithstanding anything herein contained, the cost of repairs, if any, necessary to re-instate the Equipment to
its PHC condition will be paid by the Hirer.
Transportation To And From Site
a. Unless quoted in this agreement, transportation cost to and from Waimea to the Hirer, including the supply of
additional labour, Equipment, materials and transportation expenses and other requirements, are to be the cost of the
Notice Of Accidents
a. If the Equipment is involved in any accident resulting in injury to persons or damage to property including damage to
the Equipment immediate notice is required and in writing within 2 days of the date of the accident. Should the accident
be the result of operator error/ negligence (as reasonably determined by Waimea) then the Hirer is liable for the full hire
Maintanance – Equipment breakdown, planned & unplanned maintenance.
a. The Hirer will notify Waimea immediately of any Equipment breakdown or failure.
b. For the purposes of this clause planned maintenance means when the Hirer is notified by Waimea for scheduled
servicing or testing of the equipment in accordance with OEM best practice guidelines.
c. The Hirer acknowledges that the planned maintenance of the Equipment is expected to take 3 days per annum. The
Equipment will remain on-hire and chargeable during planned maintenance up to a maximum of 3 full days per
annum. These can be individual days or concurrent days but not counting half days.
d. For the purposes of this clause unplanned maintenance means any breakdown or mechanical failure of the
equipment that requires remedy after the event.
e. The Hirer acknowledges that it is expected there will be a further 3 full days per annum for unplanned maintenance
of the Equipment in response to breakdowns or other mechanical failures. The Equipment will remain on-hire and
chargeable during unplanned maintenance up to a maximum of 3 full days per annum. These can be individual days or
concurrent days but not counting half days.
f. In determining whether it is a full day in clauses 15 b and c where the customer has retained use for some of a day,
the period of the day that the Equipment is unavailable is not deemed a full day of downtime so long as the Equipment has
been available for at least 4 hours to the hirer within that day between 7am and 7pm.
g. The total number of full days, either individual or concurrent, the Equipment can be under maintenance or
unplanned maintenance to the hirer whilst at full charge is 6 days per annum. Any days of planned or unplanned
maintenance per annum will be credited to the hirer, OR at Waimea’s choice Waimea may provide replacement Equipment
that achieves the same operating requirements as the Equipment that is unavailable.
h. Maintenance or servicing required by statutory requirements under law or by code of practise, such as testing or
inspections as specific to a hirer’s industry or type of work will not be regarded as maintenance or downtime considered
in points b-g.
i. If the equipment is supplier to the Hirer on a non-maintained basis the Hirer shall, at his own expense, shall
maintain the Equipment in good and serviceable repair and shall return it in such condition to Waimea as the Equipment
was in at the commencement of the Hire (fair wear and tear excepted). Fuel, oil, and grease of approved grades
nominated by Waimea, shall be supplied by the Hirer at their cost. The Equipment shall be checked daily by the Hirer for
oil, water and battery levels and any signs of looseness or wear.
a. The Equipment shall be used expressly for the purpose specified in the Agreement and operated strictly within the
manufacturer’s rated capacity and in accordance with the applicable statutory authority regulations and the requirements
of Waimea. The hirer of a hire service vehicle must not use or allow the vehicle to be used for the transport of passengers
for rent or reward.
No Modification Of Equipment
a. The Hirer shall not without Waimea’s prior written consent (which consent may be subject to conditions) modify or
add to any Equipment or any identifying number or mark or notice of ownership attached to such Equipment. For the
purposes of this Clause, the loading of any data or software programme on or into any Equipment where the Equipment or
any part thereof is computer or other information technology Equipment does not constitute a modification or addition
to that Equipment.
b. The Hirer acknowledges that any accessories or goods (including replacement parts) supplied with or for
the Equipment during the term of a Hire shall become part of the Equipment for all purposes and shall be the property of
c. The hubometer must remain fixed to the hub of vehicle on which it is fitted. If removed, liability and all costs in
relation to Police or Land Transport (LTSA) claiming on any discrepancy in RUCs or readings are Hirer’s responsibility.
Hirer Not To Sell, Charge, Or Assign Equipment
a. The Hirer shall at all times keep all Equipment in its possession and shall not attempt to sell, create any Security
Interest in, hire out, sublease, or otherwise deal with the Equipment unless approved by Waimea.
b. The Hirer shall not sell, assign, transfer or otherwise dispose of (whether absolutely or by way of security), its right,
title or interest under this Agreement, in the Equipment, unless Waimea consents in writing.
c. The Hirer shall not do or omit to do any act whereby any liens on the Equipment arise and shall protect
the Equipment from distress, execution, and seizure.
Hirer To Comply With Laws Affecting The Equipment And other Covenants
a. The Hirer shall use and operate, and ensure the use and operation of, the Equipment in a careful, prudent, and
lawful manner and comply with the provisions of all laws affecting the Equipment or the use or possession thereof and, if
applicable, shall keep the Equipment registered and licensed.
b. To the extent applicable, the Hirer shall not interfere in any way with any Equipment’s odometer, speedometer, or
hourly or other usage meter or disconnect the same and the Hirer shall give the earliest possible notice to Waimea of any
damage or defect in the odometer, speedometer, or hourly or other usage meter. The Hirer shall whenever required advise
Waimea of each item of Equipment’s meter reading.
c. The Hirer shall give Waimea prompt notice of any accidental, mechanical, or other damage to or loss of
any Equipment and shall comply with all Waimea’s reasonable requests with regard to the use and operation of
d. The Hirer shall ensure that at all times the Equipment is used solely for the purposes intended by the manufacturer
and having regard to the design capabilities and limitations thereof and in accordance with the manufacturer’s instructions
and within the rated capacity of the Equipment.
e. The Hirer shall not use or operate or permit any use or operation of the Equipment which could void, make voidable
or otherwise affect any rights under any applicable warranty cover in relation to the Equipment.
Hirer To Notify Change Of Address, Status Or Serial Number
a. The Hirer shall not change its name without giving Waimea seven business days’ notice of what its new name will
be. If the Hirer changes its address, it shall immediately give written notice to Waimea of its new address. If
the Equipment or any part of the Equipment is removed, seized, or taken out of the possession of, or withheld from, the
Hirer, he shall immediately give written notice to Waimea of the address of the place where the Equipment may be and of
the name of the person who has possession of the Equipment. If any change of any registration or serial number for
the Equipment occurs, the Hirer must immediately give written notice to Waimea of the new registration or serial number.
b. The Hirer shall not take or permit the Equipment to be taken out of New Zealand without on each occasion first
obtaining Waimea’s written consent.
c. The Hirer shall within 24 hours after any request to do so by Waimea notify Waimea in writing of the place
where the Equipment may be.
d. If the Hirer becomes liable to be registered for the purpose of Goods and Services Tax Act 1985, or ceases to be so
registered, the Hirer will notify Waimea of any such change, and of the Hirer’s GST registration number, as appropriate.
Waimea May Inspect And Test Equipment
a. The Hirer shall permit Waimea and any person authorised by Waimea to have access to the Equipment at all
reasonable times for the purpose of testing or inspecting it.
Waimea May Assign Its Rights
a. Waimea may at law or in equity assign its right, title, and interest in the Equipment and in or under this Agreement
at any time.
a. The Hirer shall provide a competent operator, acceptable to Waimea, with necessary license and operator’s
certificate from the appropriate statutory or government authority for the capacity and type of the Equipment to be
operated, of which a photocopy must be sent to Waimea prior to the commencement of hire.
a. The hire period shall commence from the date specified herein and shall continue until the return of control of
the Equipment to Waimea and the receipt by Waimea of the ‘Off Hire Check’ (OHC) certifying that the Equipment is in an
undamaged, complete, and serviceable condition or until such other date that is agreed to by Waimea.
Extension Of Term
a. In respect of each the Term will be automatically extended for a further term of 1 month unless:
i.the Hirer delivers to Waimea written notice at least one month but not more than three months prior to the
expiration of the Term of its intention to either return the Equipment or renew the hire of the Equipment for a
specific period at the expiration of the Term; and
ii.in the case of a return notice, the Hirer delivers the Equipment to the Owner at the Hirer’s expense on or before
the expiry of the Term.
b. If the Hirer does not return the Equipment at the expiration of any extended period the Term will be further
extended until such time as:
i.Waimea terminates the hire of the Equipment by notice in writing to the Hirer; or
ii.the Hirer terminates the hire of the Equipment by giving Waimea at least one months written notice and
delivering up the Equipment to Waimea.
a. The Hirer shall pay the Hire charges for the entire hire period on the Equipment at the rate specified without
deduction. In the event of the actual hire period being less than specified in this agreement, Waimea reserves the right to
amend the hire rate commensurate with the actual hire period. Should the Hirer wish to extend the hire period beyond the
period nominated, such extended hire shall be subject to availability of the Equipment and on such terms and conditions as
b. If the hire period exceeds 12 months Waimea may increase the hire charges every 12 months during the hire period.
Such increases will only reflect the increased costs incurred by Waimea in relation to the Equipment. The Hirer shall pay
the increased hire charges upon receiving written notice of such changes from Waimea.
c. In addition to hire charges, the Hirer shall pay any sales, hire or other taxes, stamp duty, import duties, bonds or any
other charges which may be levied upon the use or delivery of the Equipment.
a. Equipment returned from hire must be in good running order, and able to continue to perform the purpose that
the Equipment was specified for and for a reasonable time thereafter. There must be no ancillary items missing from
the Equipment that were present at the commencement of the hire, as specified in the Vehicle Order and/ or
Acknowledgement of Delivery documents. Any damage including dents, broken items, tears, bent bumpers etc, as
specified in the Fair Wear and Tear Guide must be confirmed at time of delivery in writing to Waimea.
b. There must be no unpaid or outstanding RUCs and the cab colour if altered shall be white and all graphics removed.
c. Where the registration of the Equipment, and the cost of registration is not the responsibility of Waimea as specified
in the Vehicle Order, the Equipment must be returned to Waimea with a current CoF issued within no more than the
previous 28 days, it must be compliant with all statutory requirements, and registration of not less than 6 months.
Where Equipment is returned to Waimea that does not meet one or more of these requirements, Waimea will pursue
compliance with these requirements at the Hirer’s expense.
d. If the Equipment is returned with damage that in Waimea’s reasonable opinion requires repair the Hirer shall
continue to pay the hire charges until the Equipment is repaired to the PHC condition.
a. Payment of hire charges shall be made by the Hirer by either;
i.1 month in advance on the 1st of every month by direct debit or
ii.If agreed by Waimea on the 20th of the month of the date of the invoice
b. Accounts not so paid shall bear interest at the overdue rate of 1.5% per month but this shall not waive Waimea’s
rights as herein provided to terminate this agreement and claim consequential losses.
Security Of Equipment
a. It is the Hirer’s responsibility to ensure that the Equipment is securely locked when not in use.
b. It is the Hirer’s responsibility to ensure that all keys, and ancillary Equipment are locked away and that all
reasonable measures are taken to protect the plant against acts of theft and vandalism.
c. Ownership of any Equipment supplied remains with Waimea. Waimea may register a PPSR security interest over
The Hirer shall not sub-let the Equipment to a third party, nor sell, mortgage, assign, pledge or seek to sell any interest in
the Equipment without the prior written consent of Waimea.
Repossession Of Equipment
a. Upon the occurrence of any one or more of the events listed in clause 31.b., Waimea may do either or both of the
i.without any prior notice (and whether or not Waimea may subsequently accept any monies paid by the Hirer)
retake possession of the Equipment, and for that purpose may by its officers or agents enter, where necessary by
force, on any property occupied by the Hirer, and (as the agent of the Hirer) on any other property which the Hirer
might enter, where the Equipment may be or be supposed to be;
ii.by notice in writing to the Hirer terminate the hire of any Equipment as at the date of the notice or any later date
specified in the notice.
b. The events of default are:
i.if the Hirer fails to pay any amount payable or breaches any obligation contained or implied in this Agreement or
any Rental Schedule;
ii.if one or more of the Hirer’s representations is or becomes untrue, incorrect, or misleading;
iii.if distress or execution is levied or issued against any asset of the Hirer or any item of Equipment is otherwise
iv.if at any time any judgement of any court against the Hirer remains unsatisfied for more than seven days;
v.if any Security Interest is lawfully claimed over any Equipment by a party other than the Waimea;
vi.where the Hirer is a company, if there is a sale, transfer, or other disposition of any of the shares in the Hirer
which has the effect of altering the effective control of the Hirer without the Waimea’s prior written consent;
vii.if the Hirer commits or suffers any act of bankruptcy or becomes insolvent;
viii.if a receiver is appointed in respect of any asset of the Hirer;
ix.if an application is made for the liquidation of the Hirer or the Hirer passes a resolution to go into liquidation;
x.if the Hirer makes an assignment to or composition or compromise with its creditors, stops payment of any of its
debts or ceases or threatens to cease carrying on all or a material part of its business;
xi.if any insurance policy in respect of the Equipment is cancelled or not renewed by the insurer or the Hirer or any
such insurance monies are used in accordance with clause 9.
xii. if in the opinion of Waimea, the Hirer is unable to pay or does not pay its debts as they become due and payable.
c. If any rental is terminated under this Clause, Waimea may (but is not bound to) sell the relevant Equipment. If
Waimea does so, nothing in the PPSA or otherwise entitles the Hirer to any proceeds of the sale.
a. In the event that the Hirer is in default of the Agreement and Waimea terminates pursuant to Clause 31, the Hirer
acknowledges that the hire charges due and payable up to the date of termination will not constitute an economic return
to the Waimea. Accordingly, upon termination prior to the expiration of the Term the Hirer shall pay to Waimea(in addition
to all other monies payable to Waimea under this Agreement an amount as liquidated damages (which the Hirer
acknowledges is a genuine pre-estimate of the Waimea’s loss) calculated pursuant to clause 32.b.
b. Upon the termination of the hire of the Equipment for whatever reason the Hirer shall immediately:
i.deliver the relevant Equipment to Waimea or in accordance with its direction together with any registration
certificate in respect of the Equipment. The place of delivery shall be such place as Waimea directs or in the
absence of a direction shall be at the place of business of Waimea nearest to the Hirer’s registered office; and
ii.pay to Waimea all moneys payable under this agreement to the date of such termination, together with:
1. the present value of future hire payments payable for the balance of the Term, calculated by
applying to each such hire payment a discount rate (determined by Waimea in good faith) equal to the
rate of interest implicit in the applicable hire; and
2. any early repayment amounts, or other break costs requested by Waimea in connection with
the termination of this Agreement; and
3. all other monies payable to the Waimea; and
4. if the Equipment is not returned to Waimea on the termination of the hire, an amount equal
to the value of the Equipment as though it were in good condition.
c. Following termination of the hire of the Equipment under this Agreement, Waimea must take (at the cost of the
Hirer) all reasonable steps to mitigate its loss by offering the Equipment for re-sale or by attempting to re-hire
the Equipment. Provided the Hirer has paid the moneys due to Waimea under this Clause; Waimea will refund any amount
mitigated in respect of the balance of the Term applicable to that Equipment (after recovery of the residual value of the
a. guarantees (jointly and severally if more than one) repayment to Waimea of all amounts payable by the Hirer
pursuant to this Agreement, and the performance of all of the Hirer’s obligations under this Agreement.
b. acknowledges that Waimea has entered into this Agreement with the Hirer at the request of the Guarantor, that
Waimea might not have done so without the Guarantor’s guarantee, and that Waimea doing so is a benefit to the
c. agrees that if the Hirer does not pay any amount, or perform any obligation, under this Agreement, the Guarantor
will do so on demand.
d. agrees that if for any reason any amounts payable by the Hirer under this Agreement or any collateral securities are
not recoverable by the Owner, whether as a matter of law or as a matter of fact, the Guarantor will indemnify Waimea
against any resulting loss, and will pay the amount of any such loss to Waimea as a principal debtor and on demand.
e. agrees that their obligations as a Guarantor are absolute and unconditional, and will not be released or in any way
i.this Agreement being unenforceable or otherwise defective; or
ii.any variation or release of this Agreement, or any other Guarantor; or
iii.any concessions by Waimea to the Hirer or to any other Guarantor; or
iv.the insolvency, bankruptcy, or liquidation (as appropriate) of the Hirer or any other Guarantor; or
v.any other act, omission, or rule of law which would, were it not for this Clause, release a guarantor or indemnifier;
vi.irrevocably waives any rule of law to a different effect.
f. acknowledges that the Guarantor is not a “Debtor” for the purposes of PPSA and, to the extent permissible by law,
waives any notices or rights of a Debtor under PPSA to the extent inconsistent with these terms.
g. acknowledges that the Guarantor has either had independent legal advice prior to executing these terms or, if that
has not occurred, that is solely the Guarantor’s own choice freely made, and as a result the Guarantor irrevocably waives
any rights which the lack of that independent advice might otherwise have given the Guarantor.
h. acknowledges that this shall be a continuing guarantee until all the obligations of the Hirer under this Agreement
and all Hire Schedules have been fully discharged and shall survive any period in which there may be no
current Hire Schedules.
a. This agreement contains the entire terms of the agreement between the parties and shall not be amended except
by prior written consent of the parties.