Financial Lease Terms & Conditions Booklet

Financial Lease Terms and Conditions:

Identification of Interested Parties:

• Manufacturer & Supplier: The Manufacturer and Supplier of the Equipment is as referenced in the Contract Order Form.
• ‘Owner’: Solara Finance Limited, a company registered in England and Wales, company number 16298270, registered office at Milestone House, Millbrook, Guildford, GU1 3YA, is the company which will buy Equipment from the Supplier (as referenced in the Contract Order Form) for the purpose of leasing to the Hirer.
• ‘Hirer’: The entity using equipment on hire from the Owner.
• Residual Value Buyer: Buyer of the equipment at the end of the term as referenced in the Contract Order Form.
• ‘Parties’ and/or ‘Party’: In this Booklet, ‘Parties’ mean the Manufacturer/Supplier (as referenced in the Contract Order Form), the Owner, and the Hirer together, and each of them is also a ‘Party’ as the context may require.

Definitions:

In this Booklet, the following terms and conditions have the following meanings:

• ‘Adverse Change’: Has the meaning set out in clause 15.7(a).
• ‘Business Day’: Any day other than a Saturday, Sunday, or public holiday in England when banks in London are open for business.
• ‘Contract Order Form and Hire Agreement’: Each written agreement setting out the terms of a specific finance lease transaction signed by the Parties incorporating the terms set out in this Booklet.
• ‘Direct Debit Mandate’: the mandate with the Owner’s payment provide by which it will collect the Rentals and any other payments under the Agreement via direct debit.
• ‘Equipment’: Audio-visual equipment manufactured and/or supplied as referenced in the Contract Order Form, with specific items detailed in the Contract Order Form and Hire Agreement.
• ‘Minimum Term’: The minimum period of hire set out in the Contract Order Form and Hire Agreement, commencing on the date of delivery of the Equipment to the Hirer.
• ‘Rental’: The amounts specified as Rental in the Contract Order Form and Hire Agreement, or as otherwise amended in accordance with the provisions of this Booklet, which includes amounts owed to the Owner attributable to the hire of the Equipment.
• The expression “Hirer” as used in these terms where applicable shall include any group company and affiliated company of the Hirer (Affiliated) who intend to use or who uses the Equipment as advised to and approved in writing by the Owner.

Purpose:

This Booklet sets out the general terms and conditions which will apply to the hiring of audio-visual equipment between the Hirer and the Owner (Solara Finance Limited). To enter into a finance lease transaction, the Hirer must agree details of the audio-visual equipment with the Supplier (as referenced in the Contract Order Form) and the Rentals to be payable by the Hirer to the Owner. For the avoidance of doubt, where the Equipment is intended by the Hirer to be used by an affiliated company of the Hirer (whether or not the Hirer requests and the Owner agrees that the Owner charges the Rentals to the Affiliated Company), the Hirer hereby agrees to ensure that the Affiliated Company complies in all respects with the obligations of the Hirer as set out in these terms and conditions and those set out in the Hire Agreement. The Owner may enforce such terms against such Affiliated Company notwithstanding which the Hirer shall at all times remain fully responsible and liable for any breach by the affiliated company as a principal obligor and hereby guarantees the Affiliated Company’s due compliance of such terms, including but not limited to the payment of all rentals and other sums due under the Hire Agreement relating to the Equipment the Affiliated Company uses. Any variation to the Terms or other arrangements made between the Owner and the Affiliated Company shall not need the prior consent of the Hirer and shall not affect the Hirer’s obligations under the Guarantee.

1. [Reserved]

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2. The Contract

2.1 To document the arrangements described in the Purpose in respect of the hire of Equipment, the Parties will enter into a Contract Order Form and Hire Agreement which covers the finance lease terms between the Hirer and the Owner (Solara Finance Limited).

2.2 The terms of this Booklet will be incorporated in a Contract Order Form and Hire Agreement.

2.3 By signing a Contract Order Form and Hire Agreement and completing the Direct Debit Mandate, the Hirer will, subject to acceptance by the Owner, be bound by the terms and conditions set out in this Booklet and the Hirer will:
(a) Make an offer to the Owner and be bound:
(i) to hire the Equipment from the Owner for use in its business on and subject to the terms and conditions of this Booklet and the Contract Order Form and Hire Agreement; and
(ii) to authorise the Owner to date the Contract Order Form and Hire Agreement, and upon delivery of the Equipment to complete the commencement date of the Minimum Term on the Contract Order Form and Hire Agreement; and
(iii) to forward the Hirer’s payment instructions to the Hirer’s bankers following the Owner’s acceptance.

2.4 Subject to the Owner accepting the Hirer’s offer by executing the Contract Order Form and Hire Agreement, the Supplier (as referenced in the Contract Order Form) will sell the Equipment ordered and the Owner (Solara Finance Limited) will be obliged to buy it in accordance with this Booklet and the Contract Order Form and Hire Agreement. For the avoidance of doubt, the Owner reserves the right to accept or decline at its sole discretion any Contract Order Form and Hire Agreement. If the Hirer does not wish to proceed with the hiring for any reason after the Hirer executes a Contract Order Form and Hire Agreement, but before the Owner executes it (and the Owner does not acquire the Equipment), the Hirer shall pay liquidated damages to the Owner up to the value of the costs borne by the Owner up to this point. Payment of such liquidated damages will be due within four (4) weeks of the Hirer informing the Owner, with interest accruing daily from the 28th day at the Bank of England Base Rate plus five (5) per cent.

2.5 If between the placing of the order and the manufacturing of the Equipment the costs of manufacturing increase or the rate of the Bank of England increases, and the cost of the Equipment to the Owner or the rate at which the Owner can borrow money is also increased, which in the opinion of the Owner makes the original quoted Rentals uneconomic to continue with the Hiring, then the Owner may terminate the hire arrangement in relation to the affected Equipment upon written notice to the Hirer and without liability to the Hirer. The Owner shall in the first instance seek to reach mutual agreement with the Hirer to adjust the Rentals to avoid such termination.

3. Delivery Obligations

3.1 Delivery Arrangements. The Supplier (as referenced in the Contract Order Form) will manufacture the Equipment and make it available for collection or delivery as agreed with the Hirer to the address specified in the Contract Order Form. The Hirer shall, at its sole expense, organise and arrange the delivery of the Equipment to the location specified in the Contract Order Form and Hire Agreement. The Minimum Term shall commence on the date the Equipment is delivered to the Hirer.

3.2 Notification of Delivery. The Hirer shall notify the Owner (Solara Finance Limited) in writing within two (2) Business Days of the Equipment being delivered, confirming the delivery date and condition of the Equipment upon receipt.

3.3 Inspection on Delivery. The Hirer shall have up to five (5) full Business Days after delivery (ending at 4:30 PM on the fifth day) to inspect the Equipment. The Hirer shall notify the Owner within this period if there is any defect or nonconformity with the specification described in the Contract Order Form and Hire Agreement. Unless the Hirer gives notice of rejection within said five (5) Business Day period, the Hirer shall be deemed to have accepted that the Equipment:
(i) was delivered;
(ii) is properly operating; and
(iii) conforms with the specifications of the Contract Order Form and Hire Agreement.

3.4 Delivery Timing. Delivery dates provided by the Supplier are estimates only, and time shall not be of the essence for delivery. Delays in delivery shall not entitle the Hirer to refuse delivery, claim damages, or terminate the order, provided the Supplier makes the Equipment available within a reasonable timeframe.

3.5 Cancellation or Failure to Take Delivery. Should the Hirer cancel a planned delivery within 24 hours of the agreed date, or fail to take delivery of the Equipment when made available by the Supplier, the Hirer shall reimburse the Owner for all reasonable costs incurred (e.g., storage or rescheduling fees) due to such cancellation or failure. If the Hirer does not arrange delivery within five (5) Business Days of the Equipment being available, the Owner may store the Equipment at the Hirer’s expense and, after one (1) month without a revised delivery arrangement, treat this as a cancellation under clause 2.4.

3.6 Equipment Marking for Title Identification. The Hirer shall permit the Owner, or its authorised agents, to affix to each item of Equipment a tag, stamp, label, or other marking (the "Marking") indicating that title to the Equipment remains with the Owner. The Marking shall be affixed in an inconspicuous location on the Equipment, in a manner that does not unreasonably interfere with the Equipment’s use or functionality. The Hirer shall ensure that any Marking remains intact, legible, and unobstructed for the duration of the Term. If any Marking is removed, damaged, or obscured, the Hirer shall notify the Owner within 5 business days and permit the Owner or its agents to reapply the Marking at the Hirer’s expense, charged at a rate of £200 per call out. The Hirer shall not, and shall not permit any third party to, remove, alter, or obscure the Marking without the Owner’s prior written consent. The Owner shall provide reasonable prior notice to the Hirer of any visit to affix or inspect the Marking, and such visits shall occur during normal business hours unless otherwise agreed. Failure to comply with this clause shall constitute a material breach of the Agreement.

4. Term of Hire

4.1 The Minimum Term of hire shall be as set out in a Contract Order Form and Hire Agreement and shall commence on the date of delivery. Provided that the Hirer is not in breach of the terms set out in this Booklet or the Contract Order Form and Hire Agreement, the Hirer shall be entitled to retain possession (but for the avoidance of doubt, not title) of the Equipment for the full term of hire.

4.2 The hiring of the Equipment shall, unless terminated, continue beyond the Minimum Term. The hiring may be terminated at or after the end of the Minimum Term by either Party giving a minimum of three (3) months’ written notice to the other Party.

4.3 If the hiring continues beyond the Minimum Term, the Hirer shall continue to pay Rentals at the rates specified in the Contract Order Form and Hire Agreement, subject to any adjustments under this Booklet (e.g., clause 15.7 for Adverse Change).

5. Respective Obligations of the Parties

5.1 The Owner. The Owner’s obligation to the Hirer is to provide the Equipment on hire on the basis described in this Booklet and the Contract Order Form and Hire Agreement.

5.2 The Hirer. The Hirer’s obligations include arranging delivery (clause 3), maintaining the Equipment (clause 6), paying Rentals (clause 10), and returning the Equipment (clause 14) as set out in this Booklet and the Contract Order Form and Hire Agreement.

6. Equipment and Hirer’s Responsibilities

6.1 Ancillary Equipment. In this Clause 6, all references to the "Equipment" are deemed to include all ancillary equipment as may be supplied (e.g., cables, stands, or accessories as referenced in the Contract Order Form).

6.2 Maintenance and Repairs. The Hirer shall, at its sole expense, maintain and repair the Equipment to industry standards applicable to audio-visual equipment throughout the Term. The Hirer must:
(a) Use only authentic parts sourced from the Manufacturer (as referenced in the Contract Order Form) or an authorised supplier for all repairs;
(b) Keep detailed records of all maintenance and repairs, including dates, parts used, and service providers, and make these records available to the Owner upon request;
(c) Ensure all maintenance and repairs are performed by qualified professionals adhering to industry best practices.

6.3 Software Updates. The Hirer shall, at its sole expense, ensure that all software associated with the Equipment (e.g., firmware, operating systems, or control software) is kept up to date to industry standards. The Hirer must:
(a) Use only authentic software updates or patches provided by the Manufacturer (as referenced in the Contract Order Form) or an authorised supplier;
(b) Maintain records of all software updates, including version numbers and installation dates, and provide these to the Owner upon request;
(c) Ensure updates are applied in a timely manner to maintain functionality and security.

6.4 Safety. The Hirer must ensure that the Equipment is safe to use, correctly operated, and kept in good condition, immediately notifying the Owner of any defects and making the Equipment available for inspection or repair if requested. Any replacement parts or software updates installed become the property of the Owner.

6.5 Indemnity. The Hirer agrees to indemnify and hold harmless the Owner (Solara Finance Limited) from and against any claims, losses, damages, liabilities, or expenses (including legal fees) arising from:
(a) Any failure to maintain or repair the Equipment to industry standards;
(b) Use of non-authentic parts or software in repairs or updates;
(c) Issues related to software performance, security breaches, or compatibility caused by the Hirer’s maintenance or updates;
(d) Any negligence, misuse, or improper repair of the Equipment by the Hirer or its agents.

6.6 Alteration. The Hirer may only alter the Equipment with the Owner’s prior written permission or if required by law. Any alteration will be at the Hirer’s expense and must use authentic parts and software, performed to industry standards.

6.7 Third Party Claims. During the Term and until the Equipment is returned, any damage, loss, or injury caused by the Equipment or its use to anyone or anything shall be at the Hirer’s risk. The Hirer agrees to indemnify the Owner against any claims, penalties, or fines arising from its use or possession.

6.8 Control. The Equipment must remain under the Hirer’s control and if sub-let, robust controls and written records, as well as due care, must be taken with each sub-lease. It must stay within the UK unless otherwise approved in writing by the Owner.

6.9 Identification. During the team, the Hirer must allow the Owner access to inspect the Equipment and, in line with clause 3.6 above, mark it with any name or identifier of the Owner’s choosing. The Hirer may not remove or alter any identification marks.

6.10 Disposal. The Hirer must not sell, dispose of, or use the Equipment or its rights under the Hire Agreement as security without the Owner’s consent, nor allow the Owner’s rights in the Equipment to be jeopardised.

6.11 Title. Ownership of the Equipment remains with the Owner at all times. The Hirer must not claim capital allowances unless the Owner is legally excluded from doing so.

7. [Reserved]

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8. Damage

8.1 The Hirer shall be responsible to the Owner to ensure that the Equipment is always safe to use and in good condition commensurate with its age and usage (allowing for fair wear and tear). If the Equipment is not in such safe and good condition, the Hirer shall, at its own expense, carry out such work as necessary to restore it, using authentic parts and adhering to industry standards. The Owner may inspect the Equipment and notify the Hirer of any required repairs, which shall be completed promptly at the Hirer’s cost. The Hirer will indemnify the Owner for any damages or costs associated with the Hirer’s failure to comply with this clause 8.

9. Risk of Loss and Insurance

9.1 The Hirer shall bear all risks of loss, damage, or destruction to each item of Equipment from the date of delivery, regardless of the cause. The Hirer must keep the Equipment insured at all times, at its sole expense, against:
(i) all risk of loss, theft, or destruction of, or damage to, the Equipment for its full replacement value;
(ii) any liability to third parties arising from the ownership, hiring, use, operation, or return of the Equipment, naming the Owner as an additional insured; and
(iii) other risks a prudent operator of audio-visual equipment would normally insure against. Insurance shall be in a form, amount, and with providers acceptable to the Owner, provided by insurers with a minimum A.M. Best rating of A- (Excellent) or equivalent.

9.2 Upon the Owner’s request, the Hirer shall provide satisfactory evidence of the required insurance within 15 Business Days. If the Hirer fails to do so, the Owner may (but is not obliged to) obtain insurance for the Equipment under 9.1(i) as policyholder and sole beneficiary, charging the Hirer a fee (including premiums and an administrative fee on which the Owner may profit), payable with each Rental. This does not relieve the Hirer of obligations under 9.1(ii) and (iii).

9.3 The Hirer must immediately notify the Owner if any Equipment is lost, stolen, destroyed, seized, confiscated, or damaged, and of any insurance claims made. The Hirer must not settle claims without the Owner’s agreement. Insurance proceeds received by the Owner may, at its discretion, be used to repair or replace the Equipment, with this Booklet applying to replacements. Any excess insurance proceeds after repair or replacement costs belong to the Owner. If the Equipment becomes a total loss, the Owner may terminate the hiring, and the Hirer shall pay the compensation under Clause 10.5, with proceeds offsetting the amount owed.

10. Payments

10.1 Rental Payments.
(a) Rentals due to the Owner are as set out in the Contract Order Form and Hire Agreement, payable on due dates without set-off, counterclaim, or further demand.
(b) The first Rental may be taken up to 1 week prior to Delivery.
(c) If hiring continues beyond the Minimum Term, further Rentals shall be paid at the same frequency, not lower than the prime term rate, subject to adjustments (e.g., clause 15.7).
(d) The Owner reserves the right to adjust Rentals due to an Adverse Change per clause 15.7.
(e) For order modifications agreed after placement, the Hirer shall pay an administration fee: £300 for bespoke audio-visual equipment, £100 for other equipment, covering changes to configuration, delivery date, or order conditions.

10.2 Change in Payment Method. The Owner’s payment method is Direct Debit unless agreed otherwise, at the Owner’s sole discretion.

10.3 Time for Payment. Time is of the essence for payments, which must be received in full (including VAT) in cleared funds on the due date. Breach of this condition may be treated as repudiation, with a £30 fee for each rejected direct debit.

10.4 Interest. If any sum is unpaid within ten (10) days of the due date, interest accrues daily at 10% per annum over the Bank of England Base Rate until paid, payable on demand without affecting termination rights.

10.5 Hirer’s Liability on Default or Total Loss. If the Owner terminates the hiring or there is a total loss:
On Total Loss:
(a) All arrears of Rentals due at termination;
(b) All Rentals due from termination to the end of the Minimum Term, less a 3% per annum discount for accelerated payment;
(c) The anticipated net sales proceeds from selling the Equipment at the end of the term.
On Default:
(a) All arrears of Rentals due at termination;
(b) All Rentals due from termination to the end of the Minimum Term, less a 3% per annum discount for accelerated payment.

10.4 Early Termination. The Hirer may request early termination of this Agreement by providing written notice to the Owner at the contact details specified in the Contract Order Form. The Owner reserves the sole discretion to accept or reject any request for early termination. If the Owner agrees to early termination, the Owner may, at its sole discretion, charge the Hirer an amount less than the full payments otherwise due under the Agreement for the remaining Term, including but not limited to any applicable Rental Rates, fees, or penalties. In certain circumstances, discounts on such charges may be considered if the Hirer enters into new agreements with the Owner contemporaneously with the early termination, though the Owner is under no obligation to offer or provide such discounts. Any early termination, including any associated charges or discounts, shall be confirmed in writing by the Owner. Failure to comply with this clause shall not relieve the Hirer of their obligations under the Agreement.

11. Default

11.1 Events constituting default and repudiatory breach include:
(a) Non-payment of Rentals within ten (10) days of the due date;
(b) Breach of any term, unremedied within ten (10) days of notice;
(c) Insolvency events (e.g., bankruptcy, receivership, dissolution);
(d) Distress or execution against the Hirer;
(e) Material adverse change in the Hirer’s business, in the Owner’s opinion;
(f) Change in control of the Hirer without Owner’s consent; and

(g) the cancellation by the Hirer of the Direct Debit mandate.

11.2 Upon default, the Owner may terminate the hiring, repossess the Equipment, and enter the Hirer’s premises to do so, without waiver by delay.

11.3 On termination, the Hirer must pay the sums under Clause 10.5, without affecting the Owner’s rights to damages or recovery costs.

12. Limits of Liability – No Agency Relationship

12.1 No party negotiating the Hire Agreement has authority to represent the Owner.

12.2 The Hirer acknowledges the Owner has no involvement in Equipment selection, has not seen it prior to delivery, and offers no expertise or warranty on its purpose or fitness.

12.3 The Hirer may receive the benefit of warranties from the Supplier, if transferable by the Owner.

12.4 The Owner excludes liability for implied warranties on quality or fitness, except for death or injury due to its negligence.

12.5 The Owner is not liable for delivery delays, Equipment defects, or consequential losses, with liability capped at Rentals received in the prior 12 months, except for negligence causing death or injury.

12.6 The Hirer must continue paying Rentals despite Equipment failure or defects, without rebate or set-off.

13. Consequential Loss

The Owner is not responsible for indirect or consequential losses, including loss of business, revenue, profit, or savings, however caused.

14. Return Condition

14.1 Hirer’s Responsibilities: The Hirer shall ensure that the Equipment is available for collection by the Owner or the Residual Value Buyer at the end of the Term, in good condition (subject to fair wear and tear), at the address specified in the Contract Order Form and Hire Agreement. If the Equipment is not available for collection as scheduled, each failed or additional collection attempt will incur a surcharge of £500, payable within 5 business days of notification. If the Owner or Residual Value Buyer is unable to collect the Equipment, or not all Equipment is collected, the Hirer shall continue to pay the applicable Rental Rate plus an additional 25% until the Equipment is returned in full. If the Equipment is not in the condition specified in this Agreement (fair wear and tear excepted), the Owner or Residual Value Buyer shall notify the Hirer within 5 business days of collection, providing a detailed notice of the non-compliance and an itemised estimate of repair costs. The Hirer shall be responsible for such repair costs, payable within 10 business days of receiving the notice, unless the Hirer disputes the notice in writing within 5 business days.

14.2 Condition Dispute Procedure. If the Hirer disputes repair needs identified by the Owner, it must notify the Owner in writing within five (5) Business Days, detailing objections. The Parties shall meet within five (5) days to resolve the dispute.

14.3 Return Standards. Upon return, the Equipment must:
(a) Include all manuals, certificates, and documentation provided;
(b) Be in working order and good condition (fair wear and tear excepted);
(c) Be clean, complete, with all Hirer-added parts removed and damage repaired;
(d) Have functional software, updated to the latest authentic version;
(e) Have no significant wear, damage, or corrosion to components (e.g., screens, speakers, connectors).

15. Miscellaneous

15.1 This Booklet and each Contract Order Form and Hire Agreement constitute the entire agreement between the parties and supersede all prior agreements, understandings, negotiations and discussions, whether oral or written. The Hirer acknowledges that in entering into this agreement it has not relied on any statement, representation, warranty or understanding not expressly set out in this agreement.

15.2 If any provision of this agreement is found to be invalid, illegal or unenforceable, the remaining provisions shall continue in full force and effect, and the parties shall negotiate in good faith to substitute a valid, legal and enforceable provision which achieves to the greatest extent possible the same commercial effect as would have been achieved by the invalid, illegal or unenforceable provision.

15.3 No failure or delay by the Owner in exercising any right, power or remedy under this agreement shall operate as a waiver of that or any other right, power or remedy. No single or partial exercise of any right shall prevent the further exercise of that or any other right. The rights provided in this agreement are cumulative and not exclusive of any rights provided by law.

15.4 The Owner may assign its rights; the Hirer may not without Owner consent.

15.5 Contact address for the Owner is as above; the Hirer’s is per the Hire Agreement.

15.6 VAT is payable at the applicable rate on all sums.

15.7 Adverse Change:
(a) An increase in costs (e.g., taxes, tariffs, exchange rates, laws, raw materials, interest rates) affecting Equipment supply, allowing the Owner to adjust Rentals with 30 days’ notice.
(b) For lead times over 120 days, Rentals may be recalculated based on producer price index, SONIA 5-Year SWAP Rate,  or RPI (at Owner's discretion), where variations exceeding ±3% for indices or ±0.25% for interest rates shall trigger corresponding rental adjustments..

15.8 No amendments without written consent of all Parties; a £200 fee applies for agreed changes (e.g., Hirer, Term, payment method).

15.9 Manufacturer warranties are void if the Hirer breaches terms, uses non-authentic parts/software, or performs unauthorised repairs.

15.10 Each party shall comply with all applicable anti-bribery and anti-corruption laws, including but not limited to the Bribery Act 2010. The Hirer warrants that neither it nor any of its officers, employees, representatives or affiliates has engaged or will engage in any activity, practice or conduct which would constitute an offence under such laws. Any breach of this clause shall be deemed a material breach of this agreement entitling the Owner to terminate immediately without liability.

15.11 This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law. The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim. The Owner shall retain the right to seek injunctive or other equitable relief in any jurisdiction.

16 Data Protection

16.1 Definitions. For the purposes of this clause:
(a) "Data Protection Laws" means the UK General Data Protection Regulation (UK GDPR), the Data Protection Act 2018, and any other applicable data protection or privacy laws in force in the United Kingdom, as amended or replaced from time to time, together with any guidance or codes of practice issued by the UK Information Commissioner’s Office (ICO).
(b) "Personal Data," "Controller," "Processor," "Data Subject," "Processing," and "Personal Data Breach" have the meanings given in the Data Protection Laws.

16.2 Roles and Compliance. Each Party acknowledges that, in performing its obligations under this Booklet and any Contract Order Form and Hire Agreement:
(a) The Owner (Solara Finance Limited) may act as a Controller when Processing Personal Data relating to the Hirer (e.g., contact details, payment information) for the purposes of managing the hire agreement, billing, and enforcement of rights.
(b) The Hirer may act as a Controller or Processor when Processing Personal Data in connection with the use, maintenance, or return of the Equipment (e.g., employee or client data).
(c) Each Party shall comply with its respective obligations under the Data Protection Laws in relation to all Personal Data Processed under or in connection with this agreement.

16.3 Purpose and Lawful Basis. The Owner shall Process Personal Data provided by the Hirer solely for the purposes of:
(a) Administering and performing the hire agreement (including delivery coordination, payment processing, and contract enforcement);
(b) Conducting credit or risk assessments, fraud prevention, and legal compliance;
(c) Communicating with the Hirer regarding the agreement or Equipment;
(d) Any other purpose expressly agreed in writing.
The lawful basis for such Processing shall be the performance of this contract (Article 6(1)(b) UK GDPR) and, where applicable, the Owner’s legitimate interests (Article 6(1)(f) UK GDPR) in managing its business operations, provided such interests are not overridden by the Data Subject’s rights.

16.4 Hirer Obligations. The Hirer shall:
(a) Ensure that any Personal Data it provides to the Owner (e.g., contact details of representatives) is accurate, lawfully obtained, and accompanied by any necessary consents or notices to Data Subjects;
(b) Notify the Owner promptly of any changes to such Personal Data;
(c) Comply with Data Protection Laws when Processing Personal Data related to the Equipment’s use, including ensuring appropriate security measures and lawful bases for Processing.

16.5 Data Sharing. The Owner may disclose Personal Data to third parties (e.g., credit reference agencies, debt collection agencies, or legal advisors) only where necessary for the purposes outlined in 15.13.3 or to comply with legal obligations. Any such disclosure shall comply with Data Protection Laws, and the Owner shall ensure appropriate safeguards (e.g., data processing agreements) are in place where required.

16.6 Security. Each Party shall implement appropriate technical and organisational measures to protect Personal Data against unauthorised or unlawful Processing, accidental loss, destruction, or damage, in accordance with Article 32 of the UK GDPR.

16.7 Personal Data Breach. In the event of a Personal Data Breach affecting Personal Data Processed under this agreement, the affected Party shall:
(a) Notify the other Party without undue delay, and in any event within 48 hours of becoming aware of the breach;
(b) Provide reasonable details of the breach (e.g., nature, extent, likely consequences) and cooperate to mitigate its effects;
(c) Comply with any notification obligations to the ICO or Data Subjects under Data Protection Laws.

16.8 Data Subject Rights. Each Party shall assist the other, insofar as reasonably practicable and at the requesting Party’s cost, in responding to requests from Data Subjects exercising their rights under Data Protection Laws (e.g., access, rectification, erasure), where such requests relate to Personal Data Processed under this agreement.

16.9 Data Retention. The Owner shall retain Personal Data onlyEAD: 16.9 Data Retention. The Owner shall retain Personal Data for no longer than necessary for the purposes for which it was collected, in accordance with its legal and contractual obligations, after which it shall be securely deleted or anonymised, unless retention is required by law.

16.10 International Transfers. If Personal Data is transferred outside the UK, the transferring Party shall ensure compliance with Chapter V of the UK GDPR (e.g., using standard contractual clauses or adequacy decisions) and inform the other Party of such transfers where they involve data shared under this agreement.

16.11 Audit and Records. Each Party shall maintain records of its Processing activities as required by Article 30 of the UK GDPR and, upon reasonable request, make such records available to the other Party to demonstrate compliance with this clause.

16.12 Indemnity. The Hirer shall indemnify the Owner against any fines, penalties, or losses arising from the Hirer’s breach of Data Protection Laws in connection with Personal Data Processed under this agreement, provided the Owner notifies the Hirer promptly of any such claim and allows the Hirer to participate in its defence.

16. Contact Details

Solara Finance Limited
Milestone House, Millbrook, Guildford, GU1 3YA
Company Registration Number: 16298270

Email: Hello@solara.finance