Lease Agreement of Liaison & Branch offices

• Liaison & Branch offices 2) need TAX ID to open a new rental account. (SS-4 copy)
• Installation place must be same to the address on SS-4 form.

※ Small Business can be applied on equal terms with individuals. No any past due, previous rental customer can open a new rental account with only TAX ID.

*offices ²⁾: Liaison & Branch Office: Corporations listed on Korea stock market, Banks or Financials, Government offices and Executives.

Monthly Prepayment

• Monthly rental due comes on 10th or 15th, 20th every month. ( Rental for installed month comes on following month together)
• If monthly payment is not Auto Pay, add $1.00 on bill.

Past Due

• When passed due by end of month, we charge $5.00 late fee on next bill.
• Check Return Item Charge is $25 per check
• When passed due 3 times, we mail cancellation notice letter.
• When contract cancelled, we stop maintenance services and charge loss penalty addition to past due amount.
• The following month after cancellation, we mail final notice letter. Without payment, we send that case to collection agency.

Prepayment Discount

• When paid a whole year rental at a time, apply Auto payment price.
• Total amount for prepayment of a year comes from the installed month to the 12th month.

※ There must not be any past due in the period.

The name on the void check or credit card must be same to contractor’s.

ACH (Automated Clearing House), CCR (Credit Card Receivables)

1. $1.00 DC every month
2. Transaction date: 10th or 15th , 20th
3. Return Item Charge: $10 per statement.

Other

1. We don’t mail the statement for auto pay customer.
2. More than 2 statements come in a same transaction.

Cancellation Penalty

• If cancelled the contract within 3yrs, we charge cancellation penalty.

To calculate Penalty amount

Penalty amount = (rental fee a day × Left days of contract) × 50%

1. Rental fee a day = Monthly rental / 30
2. Left days of contract = 365 × 3 – Passed days of contract
3. Passed days of contract = Before the date scheduled for visiting.

Et Cetera

1. Without Coway’s fault, discount on cancellation penalty or waived is not available.
2. Returning to Korea or moving to other states, we charge cancellation penalty. When moved to other state where maintenance service is available, customer can keep the rental.