Cyclescheme

This does mean you have to stay at the company for all 4 years though. If you leave after 2 years then the bike will not have depreciated to the deposit value (it's 13%/17% based on whether the voucher was for less than £500 as before).

Is this the case? So far as I can see, my extended use period (years 2-4) is with Cyclescheme, not my company. This is the T&Cs from my Agreement. Section 8 seems to cover it.

Extended Use Agreement

IMPORTANT: You must read this carefully. This agreement details your
rights and responsibilities and is legally binding upon you. You are
strongly advised to obtain independent advice on any aspect of this
agreement you are unsure of.

Terms & Conditions

1.0 Introduction

This Extended Use Agreement ("Agreement") is in two parts: the front
page setting out various items of key information and the second page,
these terms and conditions, which sets out the basis on which
Cyclescheme Limited will allow you to have continued use of the
bicycle and (if applicable) safety equipment hired by you previously
under a Hire Agreement with your Employer (the "Equipment") for the
main purpose of commuting between your home and workplace, or between
different workplaces in connection with your employment ("Commuting").

2.0 Eligibility for Tax Benefits

The intention is that by entering into this Agreement you will be
entitled to retain possession and use of the Equipment but without
ownership of the Equipment transferring to you. You are required to
continue to meet the following conditions in order to benefit from the
use of the Equipment under this Agreement: •Subject to section 6.0,
you are still in possession of the Equipment you originally hired from
your Employer; •You must use the Equipment mainly for Commuting,
although you are entitled to use it for other purposes as well;

If any of these conditions are not or cease to be satisfied, or the
law changes, you may find that you are no longer eligible to use the
Equipment unless you wish to purchase it at the market value
determined in accordance with HMRC guidelines in force at the time. It
is your responsibility to inform Cyclescheme.

3.0 Salary Sacrifice and Extended Use Period

By signing the Agreement and paying the Continuation Deposit (as
detailed on the front page) you agree to use the Equipment for a
further continuous period of 35 months from the date set out in the
'Duration of Extended use' section of the Agreement (the "Use
Period"). In return for Cyclescheme agreeing to allow you to continue
using the Equipment for the Use Period, you agree to continue to use
the Equipment mainly for commuting. No additional salary sacrifice
reduction or rental payment is required from you under this Agreement.

At the end of the Use Period, Cyclescheme will contact you to discuss
what will happen to the bicycle. You may be offered the opportunity to
take ownership of the Equipment at the market value (to be established
at the time in accordance with HMRC guidelines). Otherwise, you will
be required to return the bicycle to Cyclescheme at your own cost, to
the address notified to you by Cyclescheme. Upon the safe return of
the bicycle, Cyclescheme will return your Continuation Deposit.

If at any time you are required to return the bicycle but fail to do
so, you will forfeit the right to a refund of your Continuation
Deposit.

4.0 Your responsibilities

During the Extended Use Period: •The Equipment remains the property of
Cyclescheme and you may not profit from, transfer, sell or otherwise
dispose of the Equipment; •You must retain possession of the Equipment
and use it mainly for Commuting, although use for other secondary
purposes is permitted (excluding competitions and dangerous
activities); •You will continue to be responsible for any loss of or
damage to the Equipment which subsequently occurs, except where this
is caused by a defect in the Equipment - (see section 5 - Defective
Equipment) therefore we recommend that you continue to insure the
Equipment; •You must ensure the Equipment is used safely and
maintained properly in accordance with any instructions provided by
the manufacturer(s) of the Equipment and/or by the relevant
Cyclescheme Partner Shop (where the Equipment was originally
collected).

5.0 Defective Equipment

The Equipment may be covered by warranties given by the relevant
manufacturers (or their importers), as well as by any additional
warranties that apply under the general law and nothing in this
Agreement affects the rights that you have under the general law.

If Equipment becomes defective as a result of your misuse or neglect
you will be responsible to bring the bicycle back to good working
order.

If any defects or other warranty issues subsequently come to light,
please contact the relevant Cyclescheme Partner Shop in the first
instance.

6.0 Lost, stolen or damaged Equipment

If at any time during the Extended Use Period, the Equipment (or part
of it) is lost or stolen, or damaged to the point of no longer being
usable for Commuting, you should contact Cyclescheme immediately at
the address shown overleaf under "Parties to agreement". Please note
that if you do not replace the Equipment you will forfeit the right to
a refund of your Continuation Deposit.

You are strongly advised to obtain specific insurance for the
Equipment, or otherwise ensure it is covered by your home contents
insurance policy. You must inform your insurer that Cyclescheme has an
interest in the Equipment.

Please note that as long as you purchase any replacement equipment
following the theft or loss of the Equipment you originally obtained
under the Hire Agreement (with your employer) that replacement
equipment will be covered by the terms of this Extended Use Agreement
provided you continue to use the Equipment in accordance with section
2 (Eligibility) above.

7.0 Absence from work

If you are absent from work during the Use Period the Agreement will
remain in place until the 35 month extended Use Period has expired.

8.0 Leaving your employment

If you leave your employment for any reason during the term of the
Extended Use Agreement, the Agreement will remain in force until its
expiry as long as you continue to meet the eligibility criteria as
detailed in section 2.0 Eligibility, but you must inform Cyclescheme
of any change in circumstance.
9.0 Data Protection

By entering into this Agreement, you will be authorising Cyclescheme
to use personal information about you to the extent necessary to
administer the arrangements described in this Agreement. The Data
Protection Act 1998 will apply to that information.

10.0 General

Cyclescheme will not have any responsibility under this Agreement if
it is delayed in performing, or fails to perform, any of its
obligations under this Agreement as a result of any circumstances
beyond its reasonable control. Further, at no time shall Cyclescheme
have any liability to you for any loss or damage arising other than as
a direct result of its actions or omissions.

It is your responsibility to adhere to both the Road Traffic Act and
the Highway Code as standards whilst using the Bicycle and (if
applicable) safety equipment.

Cyclescheme intends to rely upon the written terms set out in this
Agreement. No variations will be permitted without out prior consent.

This Agreement is governed by English law and any dispute arising
shall be dealt with in the exclusive jurisdiction of the English
Courts.

CS EUA V1.0.3

This may only relate to Cyclescheme and is from a few years ago so it could have changed.