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This policy describes the cancellation, return, and termination terms applicable to IT rental services provided by Prime AssetSource Pvt Ltd. Specific contract terms always supersede this general policy.
1. Quote cancellation (pre-contract)
You may cancel a pending quote at any time before signing the rental agreement, with no charges. Simply email rentals@primeassetsource.com to confirm.
2. Order cancellation (post-contract, pre-dispatch)
If you cancel a confirmed order before equipment is dispatched, the following applies:
- Standard configurations: cancellation accepted with no charge if more than 48 hours before scheduled dispatch
- Within 48 hours of dispatch: cancellation may incur a configuration / handling fee, typically 5–10% of the first month's rental
- Custom configurations (specially imaged, asset-tagged for your fleet): cancellation may incur up to 25% of the first month's rental to cover prep work
Specific terms confirmed in your rental order schedule.
3. Order cancellation (post-dispatch)
Equipment dispatched but not yet received: contact us immediately. Cancellation requires reverse logistics, billed at standard rates.
Equipment received but not commissioned: return logistics arranged at standard rates; no rental charges accrue from receipt date provided equipment is returned in original condition within 5 business days.
4. Mid-term termination
For programmes with a defined term (e.g. 12 / 24 / 36 months), early termination terms are governed by the Master Rental Agreement and per-order schedule. Common patterns:
- Notice-period termination: typically 30–90 days' written notice; remaining-term liability calculated per agreement
- For-cause termination: standard remedies for material breach apply
- Convenience termination: where included in the contract, may carry an early-exit fee structured as a percentage of remaining-term rental
5. Project-rental flex
For project-based rentals, contracts typically include flex clauses allowing scope reduction within agreed bands without penalty. Confirm flex terms at contract.
6. Damage and loss
Equipment returned with damage beyond fair wear and tear, or lost in transit (when transit is your responsibility), will be assessed and charged per the Master Rental Agreement. We carry buffer stock for fast replacement to keep your team working while assessment is in progress.
7. Refunds
Refunds for cancellations or terminations are processed within 30 days of the agreed termination date, against the original invoice and payment method.
8. Force majeure
Neither party is liable for delays or non-performance caused by events beyond reasonable control (natural disasters, pandemics, government action). Specific force-majeure terms in the Master Rental Agreement.
9. Contact us
For cancellations, terminations, or any specific scenario not covered here, contact your account manager or email rentals@primeassetsource.com.