Bike Rental: Lease Agreement Terms & Conditions

Each bike will be supplied with one complimentary pair of cycling shoes. Hand weights are not available for rental. By purchasing the bike hire, you are agreeing to these terms and conditions.

 

1. Payment

Payment will be taken monthly in advance as follows:

  • £200 per full month of bike rental (including 1 complimentary pair of cycling shoes)
  • £40 one-off cost for one additional pair of cycling shoes rented. 

Psycle will bill the Customer each month on an ongoing basis until Psycle requests the return of the bike.

Should Psycle request the return of the bike before a full month has elapsed since the last billing date, the Customer will be eligible for a partial refund of the £200 monthly fee, relating to the portion of the month after return of the bike.

Other than where Psycle requests the return of the bike, no refunds will be given.

 

2. Term of the agreement

The agreement begins on the date of delivery of the bike, and ends when the bike is returned to the location specified by Psycle.

The Customer can terminate the agreement early by notifying Psycle, and returning the bike to the location specified by Psycle, however in this case no refund will be given for monthly fees already paid.

 

3. Condition of rented items

The Customer acknowledges that the items being rented have been used in a commercial spin studio and may therefore exhibit some signs of normal wear and tear.

 

4. Delivery costs

The customer is responsible for all delivery costs, both from the Psycle studio to the Customer’s address, and on return of the bike to the Psycle studio. Psycle will specify which studio the bike must be returned to.

 

5. Deposit

Payment of a £500 deposit must be made in advance of delivery. Deductions from this deposit will be made:

5.1. Where the bike and / or shoes have sustained significant damage during the rental period. Significant damage is any damage which renders the bike unusable.

5.2. Where the bike and / or shoes are not returned as requested; see paragraph 6.

5.3. To cover delivery costs where necessary, as noted in Paragraph 4.

 

6. Return of the bike and shoes

Psycle will request the return of the bike and shoes to the specified Psycle location, giving the Customer 48 hours notice. The bike and shoes must be returned within this timeframe. If the bike and shoes are not returned within 48 hours, Psycle reserves the right to retain the Customer’s deposit as noted in Paragraph 5.