Notice of Termination
of Hire-Purchase Agreement
Registered A.D.
To
..............................
...................................
...............................
Dear Sir,
1.
Under
the hire-purchase agreement dated .............. I, ................ as owner
had given the goods described in the Schedule to the said agreement on hire to
you, on the terms and conditions laid down in the said agreement.
2.
In
terms of clause ...................... of the said agreement, you as hirer were
required to pay to me at my address for the time being and without previous
demand the sum of Rs. ............... every calendar month by way of rent for
the hire of the said goods, the first payment to be made on the ....... day of
................., 2000, and each subsequent payment on the 10th day of every
succeeding month. Further in terms of clause .......... of the said agreement,
if you the hirer shall make default in payment of any monthly sum payable for
10 days after the same have become due, I, the owner has a right to terminate
the hiring and retake possession of the said goods without prejudice to my
claim for arrears of hire or damages (if any) for breach of the said agreement.
3.
You
have failed to pay the hire-rents for the months of .............. which are
payable to me. I, therefore, hereby give you notice determining the said
hire-purchase agreement forthwith and your possession of the goods comprised in
the said agreement has ceased to be in possession with my consent. I hereby
call upon you to return the said goods at your expense at my address and pay up
the arrears of hire-rent amounting to Rs. ............ together with a sum of
Rs. ........... as agreed compensation for loss of profit under clause
.............. of the said agreement.
4.
Please
note that if you fail to return the hired goods within ...... days from the issue
of this notice, in terms of clause ...... of the agreement, I or my servants or
agents will enter upon the premises where the said goods are kept and seize and
take possession thereof and in that case all costs and expenses of and incident
to such retaking of possession of the said goods which may be incurred by me
shall be payable by you. In case of failure by you to pay the hire- rent and
agreed compensation within .......... days hereof, appropriate legal proceedings will
be initiated against you, without further reference to you.
Yours faithfully,
Owner
Date ................................
