Who owns the bike under the cycle scheme?
It is important to bear in mind that the goods and the Bike are the property of NES but that the employee is totally responsible for the Bike during the initial Hire period.
At the end of the initial Hire period of 12 months ownership reverts back to Cyclescheme. Employees may be given the opportunity to buy the bike and any safety equipment/accessories for a fair market value. No guarantee of this option or any indication of the purchase price to be paid, can be given at the commencement of the hire agreement.