BORAGOLD LLC RENT-TO-OWN AGREEMENT
This Rent-to-Own Agreement (“Agreement”) is between BORAGOLD LLC (“BORAGOLD,” “Company,” “we,” “us,” or “our”) and the customer identified in the Contract Summary (“Customer,” “you,” or “your”).
The Contract Summary, product description, Rent-to-Own price, initial payment, processing fee, taxes, amount due today, remaining balance, Maximum You’ll Pay, Service and Delivery information, Payment Schedule, payment frequency, payment dates, and other transaction-specific information displayed with this Agreement are incorporated into and form part of this Agreement.
1. NATURE OF THIS TRANSACTION
This is a Rent-to-Own transaction. It is intended to operate as a renewable rental arrangement with an option to acquire ownership and not as a conventional loan or ordinary installment sale.
BORAGOLD owns the merchandise while it is being rented. Your possession of the merchandise does not by itself give you ownership.
You are not obligated to continue renewing this Agreement through ownership. Subject to applicable law and this Agreement, you may terminate the rental arrangement by stopping future renewals and returning the merchandise.
You acquire ownership only after satisfying the applicable requirements for ownership described in this Agreement and the Contract Summary or by exercising an available early-purchase option.
2. PROPERTY
The merchandise identified in the Contract Summary is the property covered by this Agreement (“Property”).
The Contract Summary and associated product information are incorporated into this Agreement and may identify, as applicable, the product name, SKU, metal, karat, weight, color, length, size, condition, stones, identifying numbers, and other relevant characteristics.
BORAGOLD retains ownership of the Property until ownership legally transfers to you.
3. RENTAL PERIODS AND RENEWAL
The payment frequency and scheduled rental periods are shown in the Contract Summary and Payment Schedule.
Each required payment renews your right to possess and use the Property for the applicable rental period.
Your Payment Schedule may show an anticipated final payment date if you continue renewing through ownership. That date does not require you to continue renting through that date.
You may elect not to renew for a future rental period, subject to returning the Property and satisfying obligations already incurred under this Agreement.
4. PAYMENTS
Your payment amount, payment frequency, due dates, taxes, fees, initial payment, remaining balance, and Payment Schedule are displayed with this Agreement.
You agree to make each payment necessary to renew this Agreement on or before its applicable due date.
You remain responsible for timely payment even if BORAGOLD does not send a reminder.
A payment that is declined, reversed, charged back, returned, or otherwise not successfully received by BORAGOLD will not be considered paid.
BORAGOLD may accept payment through payment methods made available through the customer portal or other authorized payment channels.
BORAGOLD will not impose a late, reinstatement, returned-payment, collection, or similar charge except where disclosed and permitted by applicable law.
5. OWNERSHIP
BORAGOLD retains title to and ownership of the Property until ownership transfers to you according to this Agreement.
If you make all payments necessary to acquire ownership and satisfy all applicable obligations under this Agreement, ownership of the Property will transfer to you without any undisclosed additional ownership payment.
After ownership transfers, BORAGOLD will have no ownership interest in the Property except for rights that may arise independently under applicable law.
6. EARLY PURCHASE OPTION
You may request to purchase the Property before completing all scheduled rental periods where an early-purchase option is available under this Agreement or required by applicable law.
Your early-purchase amount is calculated based on the number of days since your Agreement start date, using the cash price shown in your Contract Summary:
• Days 1–30: cash price less 10%
• Days 31–60: cash price less 5%
• Days 61–90: cash price
• Day 91 and later: 75% of your remaining balance
This calculation is subject to any requirements or limitations imposed by applicable law. If applicable law provides a more favorable early-purchase amount, applicable law controls.
BORAGOLD will provide your current early-purchase amount upon request.
After BORAGOLD receives the applicable early-purchase amount and all other amounts lawfully due, ownership will transfer to you.
7. VOLUNTARY TERMINATION
You may terminate this Agreement by electing not to renew and returning the Property to BORAGOLD in accordance with this Agreement and applicable law.
Once the Property has been properly returned, you will not owe future rental payments solely for rental periods occurring after termination.
Payments already earned for completed rental periods are not refundable merely because you subsequently decide to terminate, except where applicable law requires otherwise.
Termination does not eliminate amounts lawfully due from previous rental periods or other amounts legally owed under this Agreement.
BORAGOLD will not impose an early-termination penalty where prohibited by applicable law.
8. CARE AND USE OF BORAGOLD PROPERTY
Until ownership transfers, you agree to exercise reasonable care over the Property.
While BORAGOLD owns the Property, you may not sell, pawn, pledge, consign, give away, transfer ownership of, use as collateral, or otherwise dispose of the Property without BORAGOLD’s written authorization.
You may not intentionally remove, destroy, conceal, or alter identifying information associated with BORAGOLD’s ownership of the Property.
You must promptly notify BORAGOLD if the Property is lost, stolen, destroyed, or materially damaged.
9. LOSS, THEFT, DAMAGE OR DESTRUCTION
You are responsible for exercising reasonable care over the Property while it is in your possession.
To the extent permitted by applicable law, you may be responsible for loss, theft, destruction, or damage beyond ordinary wear and tear.
If the Property is stolen, BORAGOLD may request reasonable supporting documentation, including a police report where appropriate.
Any financial responsibility for lost, stolen, destroyed, or damaged Property will be determined according to this Agreement and applicable law.
10. SERVICE AND REPAIR DURING THE RENTAL PERIOD
Any service or repair benefit identified as Included in the Contract Summary is incorporated into this Agreement.
Unless otherwise stated, included standard service applies only to reasonable service associated with ordinary wear during an active Rent-to-Own Agreement.
Included standard service may include cleaning, inspection, minor clasp repair, minor chain soldering, or similar routine jewelry maintenance when appropriate.
Included service does not cover loss, theft, missing jewelry, lost stones, intentional damage, abuse, misuse, unauthorized alteration or repair, abnormal wear, or damage resulting from failure to exercise reasonable care.
Major repairs, replacement components, replacement stones, cosmetic alterations, resizing, or repairs resulting from accident, misuse, or customer-caused damage are not included unless BORAGOLD expressly agrees otherwise in writing.
The customer is responsible for all shipping, postage, insurance, packaging, and delivery costs required to send or return Property to BORAGOLD for inspection, service, or repair unless applicable law requires otherwise or BORAGOLD agrees otherwise in writing.
BORAGOLD is not responsible for loss or damage occurring while Property is being shipped to BORAGOLD by or on behalf of the customer, except to the extent required by applicable law.
BORAGOLD will provide delivery or shipping from BORAGOLD to the customer at no additional charge when the Contract Summary states that delivery is Free, including return delivery to the customer following an approved covered repair, unless otherwise disclosed before the service is authorized.
11. WARRANTIES
Any manufacturer’s warranty applicable to the Property remains subject to the manufacturer’s terms and conditions.
If a transferable manufacturer’s warranty remains in effect when ownership transfers to you, any rights available under that warranty will transfer to you to the extent permitted by the warranty and applicable law.
Nothing in this Agreement eliminates a warranty or consumer right that applicable law does not permit BORAGOLD to waive.
12. REINSTATEMENT
If this Agreement expires or terminates because of a missed payment, you may have a right to reinstate it.
The availability, period, conditions, fees, and procedures for reinstatement will be governed by the law applicable to your transaction.
If applicable law provides greater reinstatement rights, those statutory rights control.
BORAGOLD will not impose a reinstatement charge exceeding the amount permitted by applicable law.
13. DEFAULT AND RETURN OF BORAGOLD PROPERTY
If you fail to make a payment necessary to renew the Agreement, materially violate this Agreement, or otherwise lose the contractual right to possess Property still owned by BORAGOLD, BORAGOLD may request return or surrender of the Property and exercise other remedies permitted by applicable law.
You agree to reasonably cooperate in returning Property that BORAGOLD remains legally entitled to recover.
Failure to renew does not automatically make every future scheduled rental payment immediately due unless applicable law and the specific terms of the transaction permit such recovery.
Nothing in this Agreement authorizes BORAGOLD or anyone acting on its behalf to unlawfully enter your residence or other private property, breach the peace, threaten unlawful action, or use a collection or recovery practice prohibited by applicable law.
14. COLLECTION OF AMOUNTS LEGALLY DUE
BORAGOLD reserves the right to collect amounts that are actually and legally due under this Agreement, including accrued amounts from rental periods already incurred and other charges or obligations expressly authorized by this Agreement and permitted by applicable law.
BORAGOLD may contact you regarding amounts legally due and may, where permitted by applicable law, use an authorized third-party collection agency, attorney, or other lawful collection service.
Before referring an account for collection, BORAGOLD may verify the amount claimed to be due and the status of the Property and Agreement.
BORAGOLD will not attempt to collect future rental payments that you are not legally obligated to make after a valid termination and return of the Property.
All collection activity will be subject to applicable federal, state, and local law.
Nothing in this Agreement authorizes harassment, threats, deceptive representations, unlawful fees, unlawful repossession, breach of the peace, or any other prohibited collection practice.
15. CUSTOMER INFORMATION
You certify that the material information you provided in connection with your application and this Agreement is true, complete, and accurate to the best of your knowledge.
You agree to promptly update BORAGOLD if your email address, telephone number, mailing address, or other information reasonably necessary to administer the Agreement changes.
Materially false, fraudulent, or intentionally misleading information may result in BORAGOLD declining an application or exercising remedies permitted by applicable law.
16. IDENTITY AND APPLICATION VERIFICATION
You authorize BORAGOLD and its authorized service providers to verify information you voluntarily supplied in connection with your application, including identity, address, employment, income, and references, to the extent permitted by applicable law and BORAGOLD’s Privacy Notice.
Completing identity or application verification does not guarantee approval.
BORAGOLD may decline an application where identity or other material information cannot reasonably be verified.
17. AUTOMATIC AND ELECTRONIC PAYMENTS
If you separately authorize automatic payments, BORAGOLD or its authorized payment processor may submit scheduled charges to your authorized payment method according to that authorization.
Your automatic-payment authorization is separate from this Rent-to-Own Agreement.
Revoking an automatic-payment authorization does not by itself terminate this Agreement, transfer ownership of the Property, or eliminate amounts already lawfully due.
You remain responsible for making any payment necessary to renew this Agreement through another accepted payment method after cancellation of automatic payments.
18. ELECTRONIC COMMUNICATIONS
Subject to applicable law and any required consent, BORAGOLD may communicate with you regarding your application, Agreement, payments, account, Property, verification, service, repair, delivery, return, or other transaction-related matters through email, telephone, text message, customer portal, or another contact method you provided.
Nothing in this provision authorizes communications prohibited by applicable law or replaces separate consent where legally required.
19. ELECTRONIC RECORDS AND SIGNATURE
You consent to execute this Agreement electronically and acknowledge that your electronic signature is intended to authenticate this Agreement.
Your typed full legal name, drawn electronic signature, affirmative acceptance, date and time of execution, and associated electronic transaction records may be maintained by BORAGOLD as evidence of your acceptance of this Agreement.
BORAGOLD will provide or make available a completed copy of the Agreement that you can access and retain.
20. TAXES AND GOVERNMENT CHARGES
Applicable sales, rental, use, or other taxes will be collected or handled as required by the law applicable to your transaction.
Taxes displayed in the Contract Summary or Payment Schedule form part of the transaction information incorporated into this Agreement.
21. NO UNDISCLOSED FEES
BORAGOLD will not require you to pay a BORAGOLD fee that applicable law requires to be disclosed unless that fee has been properly disclosed.
Government taxes, charges imposed independently by your bank or payment provider, and other amounts not imposed by BORAGOLD are not BORAGOLD fees.
22. BORAGOLD’S REMEDIES
If you materially breach this Agreement, BORAGOLD may exercise remedies available under applicable law.
Those remedies may include requesting voluntary surrender or lawful recovery of Property that BORAGOLD continues to own and seeking collection of amounts that are actually and legally due.
BORAGOLD will not use this Agreement to authorize an unlawful confession of judgment, unlawful wage assignment, unlawful waiver of consumer defenses, breach of the peace, unlawful repossession, or another remedy prohibited by applicable law.
23. STATE-SPECIFIC RIGHTS
Rent-to-Own laws and consumer protections vary by state.
Your transaction is subject to all mandatory federal, state, and local laws applicable to your transaction.
If applicable law provides you with a greater right, disclosure, grace period, reinstatement right, early-purchase right, fee limitation, termination right, return right, or other mandatory consumer protection than this Agreement provides, applicable law controls.
Any state-specific disclosure or addendum provided with this Agreement is incorporated into and forms part of this Agreement.
24. GOVERNING LAW
This Agreement is governed by applicable federal law and the applicable laws of the state governing your transaction.
Nothing in this Agreement is intended to eliminate, restrict, or waive a right or remedy that applicable law does not permit to be waived.
25. ASSIGNMENT
BORAGOLD may assign or transfer its rights or servicing responsibilities under this Agreement where permitted by applicable law.
You may not transfer this Agreement or BORAGOLD-owned Property to another person without BORAGOLD’s prior written authorization.
No assignment by BORAGOLD eliminates any defense or consumer right preserved by applicable law.
26. NO WAIVER
BORAGOLD’s decision not to enforce a contractual right on one occasion does not automatically waive that right on another occasion.
This provision does not eliminate any waiver, defense, or consumer protection arising under applicable law.
27. SEVERABILITY
If any provision of this Agreement is determined to be unlawful or unenforceable, that provision will be interpreted, limited, or disregarded only to the minimum extent necessary to comply with applicable law.
The remaining provisions will continue in effect to the extent legally permissible.
28. ENTIRE AGREEMENT
This Agreement, together with the Contract Summary, product information, Maximum You’ll Pay disclosure, Totals, Service and Delivery information, Payment Schedule, applicable payment authorization, Privacy Notice, and any applicable state-specific disclosures or addenda, constitutes the agreement between you and BORAGOLD concerning this transaction.
No oral statement changes this Agreement unless applicable law provides otherwise.
29. CUSTOMER ACKNOWLEDGMENT AND ACCEPTANCE
By signing below, you acknowledge and agree that:
You reviewed this Agreement and the transaction information displayed with it before signing.
You understand that this is a Rent-to-Own transaction.
You understand that BORAGOLD owns the Property until ownership transfers to you.
You reviewed your payment amount, payment frequency, Payment Schedule, taxes, fees, amount due today, total Rent-to-Own price, and Maximum You’ll Pay.
You understand that you are not required to continue renewing this Agreement until ownership and may terminate according to this Agreement and applicable law.
You understand that after valid termination and return of the Property, you generally will not owe future rental payments, but BORAGOLD retains the right to collect amounts that were already legally due and other obligations permitted by applicable law.
You understand your applicable early-purchase and reinstatement rights.
You acknowledge that applicable state-specific disclosures or addenda provided to you form part of this Agreement.
You consent to use an electronic signature for this transaction.
BY TYPING YOUR FULL LEGAL NAME, DRAWING YOUR SIGNATURE, CHECKING THE ACCEPTANCE BOX, AND SELECTING “SIGN AGREEMENT,” YOU ACKNOWLEDGE THAT YOU HAVE REVIEWED AND AGREE TO BE LEGALLY BOUND BY THIS AGREEMENT.