Lease-purchase of musical instruments - SG

The contract is for the lease-purchase of musical instruments, including violas, cellos, violins, horns, clarinets, flutes, trombones, and trumpets. The contract has a term of 48 months, with an option to purchase the instruments for $1.00 at the end of the lease. The vendor, Musical Innovations, will deliver and set up the instruments on site, and the university will pay an annual fee of $5,575.00. The total potential value of the contract is $22,300.00. Key points to consider: • The contract is for a specific set of musical instruments • The vendor is responsible for delivery and setup • The university has the option to purchase the instruments at the end of the lease • The contract has a fixed term and annual payment schedule