DEALER TERMS AND CONDITIONS

These dealer terms and conditions (“Dealer Terms”) constitute a legally binding agreement made between you the dealer, whether personally or on behalf of an entity (“you”) and Lease Bandit Inc. (“we,” “us” or “our”), concerning your use of our Services and the Site (as those terms are defined in our User Terms and Conditions). These Dealer Terms will further define your use of our “dealer dashboard”. You agree that by accessing or conducting business on the Site, you have read, understood, and agree to be bound by all of these Dealer Terms. By using our, you agree to be bound by these Dealer Terms and any modifications we may make from time to time and notify you of such. Our Terms and Conditions and Privacy Policy are automatically incorporated into these Dealer Terms, but in any conflict, the Dealer Terms shall control to the maximum extent permitted by law.

IF YOU DO NOT AGREE WITH ALL OF THESE DEALER TERMS, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING THE SITE AND OUR SERVICES, AND YOU MUST DISCONTINUE USE IMMEDIATELY

You hereby agree to the following:

1. Listed Prices. All vehicles you list on the Site must be priced at the maximum dealer discount you are willing to provide before incentives, and therefore such listed price must represent the lowest price you are willing to accept for a vehicle upon a Successful Sale (as defined herein) or a lease it now option as detailed on the Site. You agree and acknowledge that a listed price on a vehicle may not be modified in any way after a user of the Site has submitted a successful bid.
2. Holding inventory for a pending sale. Within 48 hours of an auction ending with at least one successful bid, we will require you to confirm that vehicle is inventory and require you to hold that vehicle in inventory for up to 48 hours post auction end. At auction end, if a sale does not successfully consummate due to a change in consumer preference, we will remit a payment of $200 as a fee for holding the vehicle during that time, subject to the terms herein. If the consumer ultimately does not qualify for the lease agreement, there will be no holding fee payment made.. If there is a second-place bidder that you select to offer the vehicle to, you must hold the vehicle in inventory for an additional 24 hours to allow ample time for that bidder to respond.
3. Successful Sale. Once you approve a Pending Sale (“Dealer Approval”) within the dealer dashboard, such Pending Sale will be deemed a successful sale (“Successful Sale”). If you do not cancel a Successful Sale within 72 hours of Dealer Approval by notifying us in writing via email to support@leasebandit.com, you shall be responsible for payment to us regardless of your inability to perform or otherwise consummate such sale.
4. Unsuccessful Sale. If a consumer does not meet the minimum qualifications for the lease and they are denied, you have the option to request a co-signer. If you choose to deny that buyer and co-signer and at least one additional bidder has bid on the auction, you will be presented with a second-place bidder to approve, deny or request a co-signer of. The second-place bidder is provided with 24 hours to respond to the proposed sale of the vehicle at their last bid amount. If they agree to continue with the sale and you approve the second-place bidder with or without a co-signer, we will deem such Pending sale a successful sale (“Successful Sale”). If the second-place bidder rejects the proposal or you deny the second-place bidder, the auction is canceled and you will not be held responsible for payment.
5. Editing an Auction. You have the right to edit an auction up until the moment either an initial bid is made or a consumer uses the lease it now option.
6. Cancellation of an Auction. You have the right to cancel an auction at any time however abuse of this right is monitored closely. We have the right to suspend or permanently ban any dealer from the Site at any time for any reason
7. Payment. A monthly invoice will be sent to your accounts payable department or designee 10 days after end of the month with the prior month’s sales. All payments to us shall be made by wire transfer or ACH within 30 days after an invoice is sent to the following account:
   
   
   • Routing number: 125109019
   • Account number: 875101158017
   • Bank name: Coastal Community Bank
   • Bank Address: 5415 Evergreen Way Everett, WA 98203
   • Account name: Lease Bandit LLC
8. No liability for user representations. While we undertake reasonable and industry standard due diligence measures to gather information on our users, as further described in our Terms and Conditions and Privacy Policy, we make no representations or warranties on such user information. As such, we shall bear no liability for any user misrepresentations. Unless expressly noted, all information from the Site, including without limitation, credit information on potential purchasers, is provided on an “As-Is” basis.
9. Dispute Resolution. Any controversies or disputes arising out of or relating to these Dealer Terms will be submitted to mediation by the American Arbitration Association (AAA). If mediation does not successfully resolve the dispute within 30 days, the AAA shall conduct a binding arbitration at a location selected by Parties in the State of Texas. The number of arbitrators shall be 1, and Delaware law shall apply.