Terms and conditions when buying an e-bike with partial payments
1 AGREEMENT TO PURCHASE WITH PARTIAL PAYMENT
The agreement to purchase with partial payment means that the Buyer buys an electric bicycle from Joule and pays fixed monthly installments over a period of 48 months. The buyer owes Joule the outstanding amount of the purchase price, plus accrued interest.
The purchase agreement is governed by the Consumer Purchase Act and other relevant legislation. The agreement on partial payment (credit agreement) is regulated by the Financial Agreements Act.
2 PURCHASE AMOUNT AND PAYMENT TERMS
The purchase price is paid in fixed monthly installments including accrued interest over a period of 48 months.
The effective annual interest rate used to calculate the interest part of each installment is 3.84% per year. The nominal interest rate is 3.77% per year.
Monthly payment for the bike will start on the day of delivery, and continues on the same day each subsequent month. The first payment is deducted when ordering.
3 BUYER'S CREDITWORTHINESS
Prior to entering the credit purchase agreement, Joule must obtain the necessary information from the Buyer or, if neccessary, a debt information company, relevant database search or other relevant source, in order to assess the Buyer's creditworthiness, according to the Financial Agreements Act § 5-3.
Joule is free to reject an application, if Joule considers the result of the credit assessment to be an indication that the Buyer does not have satisfactory creditworthiness. In the event of a refusal, Joule must immediately notify the Buyer of the result for the credit assessments. The refusals are not justified beyond this.
4 SECURITY – SALES DEPOSIT IN THE ELECTRIC BICYCLE
The seller has a sales deposit on the purchased electric bicycle (Deposited item) until it is fully repaid, including interest, costs and any other public charges and fees.
The deposit secures the entire purchase price, including accrued interest.
The buyer cannot dispose of, pledge or rent the electric bicycle until the purchase price has been paid in full.
The sales deposit remains booklet for the e-bike until it is fully paid off.
Joule can require the e-bike to be returned if the Buyer significantly breaches its obligations under this agreement, or exposes the e-bike to significant danger.
The buyer agrees to keep the electric bicycle insured against theft, damage and loss until the purchase price has been repaid.
The Buyer is obliged to notify Joule if any form of enforcement action is taken against the Buyer, including that the Buyer enters into debt negotiations, goes bankrupt or is otherwise in danger of losing control of the electric bicycle.
5 NON-PAYMENT, DEFAULT AND COLLECTION
In the event of non-payment, the following procedures will be implemented:
Automatic Withdrawals - In case of unsuccessful payments, up to 5 attempts will be made to withdraw the amount from the buyer's bank card at intervals of 3 days.
Payment reminder/E-invoice - If payment is still not received, a payment reminder is sent with a 14-days payment deadline. The reminder is sent either as a payment reminder via e-mail, or as an EHF invoice. In the event of non-payment after the 14-days payment deadline, the case is transferred to the debt collection company Kravia.
Debt collection - Further collection is handled by Kravia in accordance with the applicable rules and rates for debt collection fees.
Legal collection - After a written warning about breach of the agreement, Joule can, when the payment deadline in the notice has expired, send the credit amount to legal debt collection. The credit amount, including interest and extrajudicial recovery costs, can be recovered without legal action in accordance with the Enforcement Act § 7-2 letter a. Notification pursuant to the Enforcement Act § 4-18 is sent to the address that the Buyer has given in this agreement or later notified to Joule in writing.
6 RIGHT OF WITHDRAWAL
The Buyer has the right to cancel the purchase within 14 days after the e-bike is delivered.
In case the Buyer wants to use of the right of withdrawal, contact Joule's customer service by e-mail hei@joule.no within the deadline. Alternatively, the Buyer can complete the cancellation form and send it to Joule by e-mail or by post to Gjerdrums vei 11, 0484 Oslo.
The downloadable cancellation form for financial services can be found at this link:
State forms (signform.no)
The buyer bears the costs of returning the e-bike to Joule. The buyer can choose between returning the e-bike to Joule's service center in Gjerdrums vei 11, 0484 Oslo, or ordering delivery via Wanda for NOK 188. Contact Joule's customer service by e-mail hei@joule.no for assistance in picking up the bike with Wanda.
If the Buyer makes use of the right of withdrawal, the e-bike must be returned in unused condition. The e-bike must be delivered without undue delay and no later than 14 days after notification of use of the right of withdrawal was sent.
Joule reserves the right to claim compensation for any reduction in value as a result of the Buyer's handling of the e-bike which has not been necessary to determine the nature, characteristics and functions of the bicycle, according to § 25 of the Right of Cancellation Act.
7 EARLY PAYMENT/TERMINATION
The buyer has the right to pay the outstanding debt in whole or in part at any time.
In the event of early redemption, the Buyer must pay accrued interest until the day full payment of the purchase price is registered with Joule.
The buyer can terminate the credit agreement at any time. Until the Buyer has repaid the entire credit, the Buyer must pay installments, interest and other credit costs according to the due dates that follow from the agreement.
In order to make early payment and terminate the credit agreement, the Buyer must contact Joule's customer service by e-mail hei@joule.no for further instructions and settlement.
8 DELIVERY
The electric bicycle is delivered to the Buyer by further agreement.
9 COMPLAINT
Electric bicycles have a 5-year appeal period. The chain, cassette, engine and wear parts must be maintained in accordance with the user manual. If the electric bicycle stops working, despite normal maintenance, you must contact Joule's customer service by e-mail hei@joule.no for further processing.
The electric bicycle must not have been modified in any way, for example modification of the maximum speed of 25 km/h.
The Buyer must have carried out services on the bicycle in accordance with the Service Booklet. The service booklet is in paper format in the starting package you receive from Joule. It is the Buyer's responsibility to ensure that completed services are documented in the Service Booklet.
Components with right of complaint
Engine: Engine must be maintained according to the user manual.
Battery: The battery must have been charged, stored and exposed to temperature according to the user manual.
Frame: Fatigue fractures due to manufacturing defects are covered by the claim.
User manual: Giant user manual for electric bicycle
Exemption from complaints
The right to complain does not cover wear and tear parts that require regular replacement as part of standard maintenance. These include, but are not limited to, wheel bearings, hub bosses, chain, cassette, tyres, wires, wheels, dampers and brakes. The frequency of replacement may vary with usage patterns and driving conditions. Wear and tear parts must be replaced to maintain the e-bike's functionality and safety, but are not covered by the right of complaint.
10 CHANGES
Joule reserves the right to make changes to the agreement. The buyer will be notified two months before the change takes effect. If there are changes to the agreement on interest, fees or other costs, the notice must contain a justification.
The changes are binding on the parties unless the Buyer objects. If the Buyer rejects the changes, Joule must be notified no later than the proposed implementation time for the changes. If Joule is not notified within this deadline, the changes are binding on the parties.
If the change proposal is not accepted, and the changes are factually justified, Joule can terminate the credit agreement with two months' notice. Termination means that the Buyer must pay off the remaining part of the debt including accrued interest.
The buyer has the right to terminate the agreement before any changes are implemented.
The agreement will not be signed again in the event of changes.
11 DISPUTE RESOLUTION
Any disputes must first tried to be resolved through negotiations. If the dispute is not resolved, each party can demand that the dispute be settled by Norwegian courts, with final effect. The buyer can bring proceedings to their own local court, otherwise the Oslo district court is the court of jurisdiction.