A rental shop, also known as a video library, is a business that allows a consumer to temporarily obtain a reusable good or product for a specified period of time in exchange for payment, a process known as renting. Typically, a rental shop will conduct business with customers under conditions and terms agreed upon in a rental agreement or contract, which may be implied, explicit, or written. Typically, a customer must sign up for an account with the shop and give billing information like a credit card number. If items are returned late, the shop usually charges late fees, which typically accumulate day by day. Some shops now have policies where instead of late fees, they will treat overdue items as a sale after a certain date, and charge a price equivalent to a standard sale of that object (with appropriate deductions for the rental fee already paid and for its pre-opened condition). The most common type of rental shop are video rental outlets, offering primarily movies.
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