PAYMENT TERMS OF THE RENTER
1. SERVICE FEE FOR THE USE OF VHUB BY RENTER
The Renter shall assume a vHub service fee for each transaction which represents a percentage of the total rental cost, as specified on each Reservation.
2. BILLING FOR EQUIPMENT ACTIVATION
Upon Activation of the Reservation by a Renter, vHub will bill the Renter as follows:
(a) if the lease is for a period of 30 days or less, vHub will charge 100% of the rental rate for the scheduled lease period and immediately process the credit card payment through the platform, or
(b) if the lease is for a period of more than 30 days, vHub will charge 100% of the rental rate for the initial 30-day period of the scheduled lease period and immediately process the credit card payment through the platform, and vHub will do a second billing at the end of the initial 30-day period using the same methodology for a subsequent period of 30 days or less.
3. ADJUSTMENT BILLING BY VHUB FOR EQUIPMENT DEACTIVATION
Upon Deactivation of the lease by the Renter, vHub will charge or credit, as applicable, the Renter an adjustment amount based on the actual number of days, kilometres or refrigeration hours accumulated during the expired lease period against the amount charged upon Activation as provided in Article 2.
4. PRE-AUTHORIZATION OF PAYMENT
A credit card pre-authorization will be required three (3) days prior to any billing by vHub, except where circumstances do not permit, such as for adjustment billing or an Activation billing in the event that a Reservation is activated on the same day as the Activation date.
5. CANCELLATION FEES
5.1 If the Renter cancels a Reservation at least two (2) days before the scheduled Activation date, no cancellation fees will be charged to the Renter.
5.2 If the Renter cancels a Reservation less than two (2) days before the scheduled Activation date, a cancellation fee equal to the rental payment for one day's lease (including kilometres and refrigeration hours, if applicable) will be charged to the Renter.
5.3 If the Renter cancels a Reservation after the scheduled Activation date, the Renter will be required to pay the applicable lease payment from the first scheduled Activation day until the day of cancellation by the Renter.
5.4 If the Owner cancels a Reservation before the scheduled Activation date, no fees will be charged, nor compensation offered, to the Renter.
6. EARLY OR LATE ACTIVATION FEES
6.1 When activating the Reservation
If the Renter activates his Reservation before the scheduled Activation date, the Renter will be billed from the actual Activation date. If the Renter activates the Reservation after the scheduled Activation date, the scheduled Activation date is used as the start date for billing purposes with the Renter.
6.2 Deactivating the Reservation
If the Renter deactivates the Reservation prior to the scheduled Deactivation date, the Renter will be reimbursed for unused rental days, kilometres and refrigeration hours, if applicable. If the Renter deactivates the Reservation after the scheduled Deactivation date, the Renter will be charged for extra days of use of the Equipment, and for costs for kilometres and refrigeration hours used.
7. OTHER ADDITIONAL FEES
If the Renter returns the Equipment to a location other than that required by the Owner at the time of the Reservation, an additional fee of $100 per day will be charged until the Equipment is returned to the location required by the Owner at the time of the Reservation. If the Renter returns the Equipment late, an additional fee of $100 per day will be charged to the Renter for each day of delay, in addition to the rental payment and other applicable rental charges.
PAYMENT TERMS OF THE OWNER
8. SERVICE FEE FOR THE USE OF VHUB BY OWNER
The Owner shall assume a vHub service fee for each transaction, such fee being specified on the vHub Owner profile page. In addition, the Owner must pay a platform service fee of $80 per lease period in the context of fleet repositioning. In this respect, for a lease to be considered a fleet repositioning, it must meet the following 4 conditions:
1) Location of pick-up differs from location of drop-off (unidirectional);
2) Lease for a period of less than 5 days;
3) Posted price less than $8.33 per day ($250 per month); and
4) Leased Equipment is not a storage trailer.
9. PAYMENT OF THE OWNER'S RENTAL ACTIVITIES
On the first day of each month, vHub will issue to the Owner a statement of income earned on each Equipment leased during the previous month, and will transfer to the Owner the amount due for such monthly income on the first business day following the 15th day of the month by bank transfer. The Owner agrees to designate vHub as agent for the payment of taxes through Form FP-2506, which must be duly signed by vHub and the Owner.
10. ENTIRE AGREEMENT AND CONFLICT BETWEEN PROVISIONS
The titles of the articles of these Payment Terms and Conditions have been inserted for convenience and shall not limit or define in any way the scope of the articles of this document and shall not affect the interpretation thereof. If any provision hereof is deemed invalid or unenforceable, the remaining provisions shall remain valid and continue to have full effect as if the said invalid or unenforceable provision was never a part hereof. In the event that any of the Terms and Conditions contained herein conflict with any of the Terms and Conditions of Use, the latter shall apply and shall prevail. All defined terms not otherwise defined herein shall have the meaning attributed to them in the Terms and Conditions.