SOUND SYSTEM RENTAL/HIRE AGREEMENT

SOUND SYSTEM RENTAL/HIRE AGREEMENT

This Agreement is made on this ___ day of __________, 2025, by and between:

1. Mr. Puna Tallo, hereinafter referred to as the “Owner”,
and
2. Mr. _____________, hereinafter referred to as the “Manager”.

The Owner and Manager are collectively referred to as the “Parties.”

1. Purpose

The Owner appoints the Manager to manage and operate the Sound System Rental/Hire Business (“the Business”). The Manager accepts this responsibility under the terms and conditions set forth herein.

2. Ownership

  • The sound system equipment and all assets of the Business remain the sole property of the Owner.

  • The Manager has no ownership rights, except for the profit share as defined in this Agreement.

3. Revenue Sharing

The net income (gross income less expenses) generated from the Business shall be shared as follows:

  • Owner (Ms. Puna Tallo: 60%

  • Manager (Mr.______________): 40%

4. Responsibilities

Manager (Mr. __________________:

  • Manage bookings, customer communication, delivery, installation, operation, and collection of sound system rentals.

  • Maintain proper care, handling, and safe return of the equipment after each rental.

  • Keep proper accounts of all income and expenses, and share records with the Owner.

Owner (Mr Puna Tallo:

  • Retains full ownership and decision-making rights over the Business and its equipment.

  • Provides necessary oversight and receives 60% of profits.

  • May inspect accounts, equipment, and business operations at any time.

5. Expenses

  • All regular business expenses, including transportation, labor, fuel, and minor repairs, shall be borne by the Manager.

  • In case of natural wear and tear or manufacturing defects, the Owner and Manager shall jointly bear the responsibility and cost.

6. Payment

Profit sharing shall be settled on a monthly basis and payment shall be made within 7 days of calculation.

7. Liability and Damage

  • The Manager shall ensure that the equipment is used responsibly during rentals.

  • Any loss or damage due to negligence, mishandling, or unauthorized use shall be the responsibility of the Manager.

  • The Owner shall not be liable for any third-party claims arising from the operation of the Business.

8. Term and Termination

  • This Agreement shall commence on __________ and remain in force until terminated.

  • Either Party may terminate this Agreement by giving 30 days’ written notice.

  • Upon termination, all business accounts must be settled, and equipment returned to the Owner in good condition.

9. Dispute Resolution

In case of any dispute, the Parties agree to attempt settlement through mutual discussion. If unresolved, the dispute shall be referred to arbitration or to the courts under the applicable laws of Arunachal Pradesh. 

10. Entire Agreement

This Agreement contains the entire understanding between the Parties and supersedes any prior verbal or written agreements regarding the Business.

IN WITNESS WHEREOF, the Parties hereto have signed this Agreement on the date first above written.

Ms ________________ (Owner)
Date: __________

Mr. _____________ (Manager)
Date: __________


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