BMW 530i 2018 (Facelift Converted)

VEHICLE RENTAL AGREEMENT

 Terms & Conditions Disclaimer

1. Henceforth, “Car Dreams” CAR DREAMS LUXURY CAR RENTAL PTE. LTD. shall be referred to as Car Dreams and/or the AUTHORISER.
2. Henceforth, the RENTER/PRIMARY DRIVER and ADDITIONAL DRIVER(S) are collectively referred to as THE VEHICLE RENTER.
3. Henceforth, DAMAGE shall be interpreted as any disfigurement and/or inability of the vehicle to operate in its optimal state that was not present before the vehicle was handed over to THE VEHICLE RENTER.
4. Henceforth, LOSS shall be interpreted as the vehicle and/or any part of the vehicle and its contents and car keys that are not in the possession of Car Dreams or THE VEHICLE RENTER, as they were originally in the possession of the aforementioned parties before the vehicle was handed over to THE VEHICLE RENTER.

Payment

1. A Booking/Security Deposit is required to confirm a reservation.
2. Full payment for the rental must be made at the time of car collection. Accepted methods include cash, online transfer, or credit card. Card payments are subject to a processing surcharge, which will be added to the total amount due.
3. For card payments, a processing surcharge will apply to cover transaction fees and will be added to the total amount.
4. The Security Deposit is refundable within 24 working hours after inspection, with SGD300 retained after 7 working days. Any charges for summons or repairs for damages proven to have occurred during the rental period will be deducted from the security deposit, and the remaining balance, if any, will be returned to the vehicle renter.

Cancellation Policy

1. If a cancellation is made more than 24 hours before the scheduled car pick-up time, 30% of the Booking/Security Deposit will be forfeited, remaining 70% will be refunded.
2. If a cancellation is made within 24 hours of the scheduled pick-up time, no refund of any payment or deposit will be provided.

Loss or Damage Responsibility

1. The vehicle renter is responsible for returning the vehicle on time and in the same condition as received.
2. The vehicle renter must inform Car Dreams immediately of any accidents, damages, or unusual behaviour of the vehicle during the rental period. Failure to do so may result in the renter being held fully liable for all resulting damage.
3. In the event of an accident, the Renter must promptly notify Car Dreams and follow all reporting procedures as required by law and the rental agreement.

CDW and Insurance

1. Collision Damage Waiver (CDW), It is not traditional insurance, but a waiver that limits a renter's financial liability for damage to the rented vehicle.
2. In the event of any major accident, the vehicle renter shall be liable for the following charges: - A fixed insurance excess: SGD per accident - A fixed loss of use fee: SGD per accident
3. These charges apply regardless of fault and regardless of whether an insurance claim is made.
4. The excess and loss of use fee will be deducted from the security deposit or must be paid directly upon request.
5. The Renter acknowledges that vehicle insurance only covers the cost of repairs or replacement for physical damage. It does not cover any indirect or consequential losses to Car Dreams, including loss of use during the repair period. Therefore, even if an insurance claim is made, the Renter remains liable for the fixed SGD loss of use fee. Car Dreams will not seek double compensation for the same loss.

What the Vehicle Insurer Does Not Cover

1. By anyone not allowed to drive in line with the licensing or other laws or regulations to drive.

2. By anyone under the influence of alcohol or drugs or medication.

3. Failure to report an accident to Car Dreams or the Traffic Police within 24 hours.

4. Participating in track events, races, or engaging in reckless or rage driving on public roads.

Based on the above-mentioned points, if any of these conditions apply, the vehicle renter will not be eligible to process an insurance claim due to violation of the insurance policy. Consequently, the vehicle renter will be fully responsible for the cost of all repairs in cash. In the event the vehicle is deemed a total loss, the renter must pay the Company the current market value of the car.

Accidents

1. The vehicle renter is NOT allowed to engage the services of any unauthorized tow trucks or individuals in the event of an accident.

2. If the vehicle renter engages the services of unauthorized tow trucks or individuals, they hold the responsibility to pay any amount demanded by these unauthorized third parties to regain possession of the rental vehicle.

1 Hour Cooling-Off Period and Company-Initiated Cancellation Policy

Upon receipt of the SGD500 advance payment by the Company to secure a booking for a specific vehicle, the booking shall be deemed confirmed, subject to availability. In the event that, due to unforeseen circumstances, the reserved vehicle becomes unavailable, the Company reserves the right to cancel the booking within one (1) hour from the time of payment.

If the Company exercises this right to cancel within the specified 1-hour cooling-off period, the Customer shall receive a full refund of the advance payment. For payments made via credit card, the Company shall refund the full amount paid by the Customer, including any credit card processing fees originally incurred. Payments made outside of office hours will be subject to the 1-hour cooling-off period starting from 10:00 AM on the next working day.

Payment Default & Legal

In the event the customer fails to make payment or attempts to evade payment, a court fee of SGD3,000 will be charged to the customer and shall be recoverable by the company.

EXHIBIT 1

1. Repair Cost Responsibility & Schedule (Pre-Agreed Repair Charges)

To ensure transparency and avoid disputes, the following repair cost schedule applies if any damages found upon vehicle return. The Renter acknowledges and agrees that these charges are fair, pre-estimated costs, and accepts responsibility if such damage occurs during the rental period. Charges may be based on actual repair invoice where indicated.

• The renter agrees to the listed charges without further dispute upon return inspection.
• This Repair Cost Schedule applies unless damage is covered by insurance and an excess is paid & loss of use fee have been paid in full.

2. Dangerous and Harmful Driving (Breach of Contract - No Deposit Refund)

All CAR DREAMS vehicles are equipped with speed and G-Force sensors to monitor driving behavior. Dangerous or harmful driving is strictly prohibited as it poses a safety risk and can cause serious mechanical damage. Such actions constitute a breach of contract. If CAR DREAMS detects or is informed of such behavior, the Renter must immediately return the vehicle. Failure to comply will result in repossession of the vehicle under Clause 8 - Vehicle Recovery, and a recovery fee of SGD550 will apply.

“Dangerous and Harmful Driving” includes, but is not limited to, the following:

• Speeding: Over the legal speed limit or racing, drifting, or engaging in competitive driving.
• Driving with engine speed (RPM) exceeding 4,500 RPM
• Sudden or aggressive acceleration or braking
• Harsh cornering
• Failing to slow down for speed bumps or potholes.

3. Summons SGD- (subject to actual summon value)

All fines (traffic, parking, regulatory) are the Renter’s responsibility. Charges will be deducted from the deposit.

4. Fuel Policy

The Renter must return the Vehicle with the same fuel level as recorded at handover, as marked on the fuel gauge by Car Dreams staff. If the Vehicle is returned with less fuel, a refueling charge will apply: Fuel cost SGD 3.90 per litre (98-octane petrol) include labour & handling fee.

5. Overtime Charges

Overtime charges shall apply if the Renter returns the Vehicle more than one (1) hour after the agreed return time. For example, if the Vehicle is collected at 1:00 PM on the first rental day and returned at 3:00 PM the following day, a two (2) hours delay will be recorded, and one (1) hour of overtime will be chargeable.

The overtime charge is calculated as follows:

Overtime Rate = (Daily Rental Rate) ÷ SGD10 per hour

This charge is applied per hour or part thereof beyond the one (1) hour grace period.

6. Late Payment and Vehicle Recovery

In the event of a late payment exceeding eight (8) hours, a penalty of SGD 550 shall apply. If the Renter defaults on any payment obligations or fails to return the vehicle as scheduled, and is uncontactable by CAR DREAMS, the Company reserves the right to initiate repossession of the vehicle without further notice. A recovery fee, including but not limited to towing and labour charges, will be imposed and deducted from the Renter’s security deposit.

Comprehensive insurance included.