Toyota Vios•2024

Accident Liability and Repair Downtime Clause 1. Responsibility in Case of Accident In the event that the rented vehicle is involved in any accident, regardless of fault, the Renter agrees to immediately inform the Owner and cooperate fully in all insurance and legal processes. 2. Participation Fee The Renter shall shoulder and fully pay the required insurance participation fee (deductible) applicable to the damage or accident. 3. Loss of Income During Repair Since the vehicle is a commercial rental unit, the Renter agrees to compensate the Owner for loss of rental income while the vehicle is under repair. The Renter shall pay a daily downtime compensation equivalent to the agreed rental rate of ₱500.00 per day, computed from the date the vehicle enters repair until it is fully restored and ready for rental use. 4. Additional Charges Any damages not covered by insurance, including but not limited to negligence, misuse, traffic violations, or unauthorized use, shall be fully paid by the Renter. 5. Payment Terms All participation fees, repair-related expenses, and loss-of-income charges shall be settled within 3 days from notice of billing. Failure to pay on time shall incur an interest of 10% per month until fully paid. 6. Non-Use of Vehicle The Renter acknowledges that repair downtime directly affects the Owner’s business income and agrees that the downtime compensation is fair and reasonable.