The rental agreement is the legal agreement that exists between you (the employee) and the owner of the bike; which, in most cases, is cycle chemistry. Once your rental period is over, we will contact you to discuss your options. This implies the possibility of extending the rent of the cycle at no additional cost until HMRC considers that the value is negligible. It`s usually 4 or 5 years, and once this agreement is done, you`ll be the rightful owner! Technically, you have rented your bike from the program for the duration of your agreement and you will have a few options at the end: The employer may not assign the benefit or burden or its obligations arising from this agreement without the prior written consent of Halfords, provided that the employer may, solely for funding purposes, if you assign all or part of its rights to the Financial Services Provider under this Agreement, if it notifies Halfords in advance in writing of such assignment, and if an assignee fails to make the payment, the Employer is required to pay the outstanding amount within seven days of Halfords` request. The employer approves all lease agreements. Halfords delivers products to the employer for relocation to its employees or employees within the employer group.. . .