The Unregulated Hire Purchase Agreement is specifically designed for commercial transactions in Ireland where businesses seek to acquire assets through structured payments while having use of the assets immediately. This document type is particularly suitable for high-value commercial equipment, machinery, or vehicle acquisitions where the transaction falls outside regulated consumer credit provisions. It provides a comprehensive framework for the hire purchase arrangement, including detailed terms for payment schedules, maintenance obligations, insurance requirements, and the eventual transfer of ownership. The agreement ensures compliance with Irish commercial law while offering flexibility for business-specific requirements. It's commonly used by financial institutions and equipment suppliers dealing with commercial clients, incorporating protections for both the finance provider's security interest and the business user's operational needs.

1. Parties: Identifies and defines the finance company (owner) and the hirer, including full legal names and addresses

2. Background: Sets out the context of the agreement - that the owner wishes to let and the hirer wishes to hire the goods with an option to purchase

3. Definitions: Defines key terms used throughout the agreement including 'Goods', 'Hire Purchase Price', 'Deposit', 'Installments'

4. Agreement to Hire: Core clause establishing the hire purchase arrangement and confirming the owner's agreement to let and the hirer's agreement to take the goods

5. Delivery and Acceptance: Provisions regarding delivery of goods, acceptance procedures, and condition at delivery

6. Payment Terms: Details of the hire purchase price, deposit, installment amounts, payment dates, and payment methods

7. Title and Risk: Confirms that title remains with the owner until final payment, while risk passes to the hirer upon delivery

8. Hirer's Obligations: Key obligations including maintenance, insurance, permitted use, and restrictions on disposal or modification

9. Owner's Warranties and Representations: Warranties regarding ownership, condition and fitness for purpose of the goods

10. Insurance Requirements: Specific insurance obligations of the hirer and requirements for insurance coverage

11. Default and Termination: Events of default, termination rights, and consequences of termination

12. Option to Purchase: Terms of the purchase option and process for exercising it

13. Governing Law and Jurisdiction: Confirms Irish law as governing law and Irish courts' jurisdiction