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Additional Terms for Lenders

Updated December 2023

These Additional Terms for Lenders (the "Lender Terms") are our additional terms applicable to Lenders (i.e. those Platform users that make Items available for rental or purchase through the platform).

TERMS OF SERVICE; DEFINED TERMS; PRECEDENCE.

These Lender Terms constitute Additional Terms (as that term is defined Terms of Use and Conditions (the "Terms"), and are incorporated in their entirety into the Terms, and any reference to the Terms shall be deemed to include these Lender Terms. To the extent of any conflict between these Lender Terms and the Terms, www.rentoui.com/p/terms-of-service, the Terms will govern except and solely to the extent these Lender Terms may expressly state otherwise.

Any capitalized terms used in these Lender Terms that are not defined herein will have the meanings specified for those terms in the Terms.

YOU ACKNOWLEDGE AND AGREE THAT, BY ACTING IN THE CAPACITY OF A LENDER IN CONNECTION WITH THE PLATFORM, YOU WILL BE BOUND BY AND SUBJECT TO THESE LENDER TERMS IN ADDITION TO THE TERMS OR ANY OTHER TERMS OF SERVICE THAT MAY BE APPLICABLE.

EFFECTIVE DATE OF RENTOUI-LENDER AGREEMENT FORMED BY THE TERMS

Any agreement formed between you, as a Lender, and RentOui pursuant to the Terms shall be deemed to include these Lender Terms effective as of the date on which you accept these Lender Terms by (a) creating an Account on the Platform and specifying at that time that you would like to act as a Lender, (b) updating the settings in your already-established Account to specify that you would like to act as a Lender, or (c) otherwise access or use the Platform to make an Item available for Rental or Purchase.

PRICING YOUR ITEMS

As a Lender, you have the right to:

  • Set, and change when and to what extent you choose, the daily Rental rate for any Item as you determine;
  • Set, and change when and to what extent you determine, the Listed Value of an Item you make available for Rental as you determine provided the Listed Value does not exceed the Item's MSRP; and
  • Set, and change when and to what extent you determine, the Purchase price of any Item you make available for Purchase.

SHIPPING YOUR ITEMS

As part of the Services, we offer a delivery service whereby one of our third-party couriers will pick up and deliver items to the purchasing or renting user in a Transaction. You are responsible for confirming all delivery information is correct. Online tracking may be available at our courier's website, though we make no warranties regarding its availability because it is not under our control. While deliveries may be scheduled for a specified arrival, we cannot guarantee delivery by any specific date or time. We do not assume any responsibility or liability for Items that are lost in transit, but we may connect you with our third-party courier so that you can resolve any issues related to lost Items with them directly. Users in a Transaction may also arrange for their own delivery between each other, and in such case, we have no responsibility for any such arrangement .

STRIPE CONNECTED ACCOUNT AGREEMENT.

  • The Payment Processor services made available to Lenders are currently provided by Stripe. You agree that, in connection with any Lender Activities, you are subject to the Stripe Connected Account Agreement (available at https://stripe.com/legal/connect-account), which includes the Stripe Terms of Service and any other terms and conditions incorporated therein by reference (collectively, the "Stripe Service Agreement") as well as all other Stripe Agreements you may be subject to according to the Terms.
  • By acting as a Lender, you agree, to the extent applicable, to be bound by the Stripe Services Agreement (which may be modified from time to time by Stripe) in connection with all your activities as a Lender. As a condition of us enabling payment processing services through Stripe, you agree to provide only true, accurate, current, and complete information about yourself to us and Stripe and to update such information as necessary to maintain its truth and accuracy. You also authorize us to share such information and other transaction information related to your use of the payment processing services provided by Stripe.

LENDER REPRESENTATIONS AND WARRANTIES.

In addition to any other of the Terms that may apply to you as a Platform user or Lender, you also represent, warrant, and covenant as to each of the following:

  • You have and will continue to have the full right, power, and authority to enter into the agreement formed according to the Terms between you and us and the agreement between you and any Platform user for the Rental or Purchase of an Item from you and to fully perform all of your obligations set forth in the Terms so long as such agreements have legal effect.
  • You are the sole owner of any Item you make available for Rental or Purchase.
  • You will continue to retain the sole ownership of any Item you make available for Rental for as long as any Rental agreement (including one scheduled to occur in the future) is in place with any Platform user.
  • You making your Items available for purchase, downloading, and/or use on and through the Platform does not and will not constitute your engagement in any Stripe Prohibited Activities. "Stripe Prohibited Activities" means any activities that, according to the Stripe Service Agreement (in particular, the section entitled "Prohibited and Restricted Businesses"), Stripe does not permit or requires its prior written approval for you to use its services in connection with. If Stripe provides its prior written approval of your use of its services in connection with any of your Items that may require such approval, you will provide evidence of such approval reasonably acceptable to us before making those Items available through the Platform.
  • You do not and will not provide inaccurate, misleading, or false User Content to us or any other Platform users regarding yourself or any of your Items.
  • You do not and will not use the Platform to direct Platform users to other services or sites or to deal with you personally, separate from the Platform, for the Rental, Purchase, or other kind of transaction for any Items you make available or have made available within the prior twelve (12) months through the Platform. (We're not saying you cannot make these Items available for rental or purchase elsewhere, only that you may not use the Platform to suggest or direct any Platform user to use any other services or website or to engage with you directly for transactions involving those Items.)
  • You represent, warrant, and covenant that any Item you make available on the Platform does not and will not, when Rented or Purchased, violate any third party's Intellectual Property Rights, other proprietary rights, or other rights of any kind including, when used or other dealt with by RentOui in connection with its operation of the Platform, or when the Item is Rented or Purchased.
  • By using the Platform to make your Items available for Rental or Purchase to Platform users, you agree to pay all of our fees and costs for such transactions (as set forth in the Terms) and to assume full responsibility and liability for the quality and composition of the Items you make available for Rental or Purchase.

If you are not in full compliance with any of these representations, warranties, and covenants, you must immediately notify us in writing in reasonable detail about such noncompliance. For the avoidance of doubt, your notification does not excuse or cure any noncompliance by you.

PAYOUTS OF AMOUNTS RECEIVED FOR RENTALS AND PURCHASES

"Lender Fees" means the amounts received from Platform users for Rentals or Purchases of your Items minus all amounts that we may charge you or otherwise deduct in connection with such Rentals or Purchases (the "RentOui Fees"). The Lender Fees resulting from Rentals or Purchases of your Items will be paid to you and accumulate as part of your balance (your "Balance").

  • Currently, the standard RentOui Fee for an Item you make available for Rental or Purchase through the Platform is eighteen percent (18%) of the rental or purchase amount payable to you, the Lender, from the Borrower for the Item.

  • This RentOui Fee will be charged on any additional amounts that a Lender may pay in addition to the originally agreed-upon total Rental fee or Purchase price -- such as additional amounts for late returns; provided, however, there will be no RentOui Fee charged on any amounts by a Borrower to you as compensation for any damage to, or the loss or destruction of, any Item.

  • For the avoidance of doubt, RentOui can increase or decrease any particular RentOui Fee or add or remove any particular kind of RentOui Fee at any time in its sole discretion, with such changes effective immediately upon RentOui's updating the Terms.

  • Any RentOui Fees payable by you may be charged immediately by RentOui. and are non-refundable except with the express written agreement by RentOui at its sole discretion.

  • Unless otherwise agreed by you and us in writing, Stripe will send payouts of your Balance ("Payouts") marked as a RentOui transaction within seven (7) days, as established by Stripe's terms of service. Available Payout methods are subject to change. See Stripe Connected Account Agreement.

  • We reserve the right to withhold payment or deduct from your Balance any amounts otherwise due to us under the Terms or any amounts we determine are due to us as a result of your breach of the Terms pending our investigation of such breach.

  • To ensure proper payment, you are solely responsible for providing and maintaining accurate contact and payment information associated with your Account, which includes applicable tax information. If we believe that we are obligated to obtain tax information, and you do not provide this information to us after we have requested it, we may authorize a Third Party Payment Processor to withhold Payouts until you provide this information or otherwise satisfy us that you are not a person or entity from whom we are required to obtain tax information.

  • Any third-party fees related to returned or canceled payments due to a contact or payment information error or omission may be deducted from any subsequent Payout.

  • You agree to pay all applicable taxes or charges imposed by any government entity, any payment processor, or any third party in connection with any Rentals or Purchases or otherwise in connection with your use of the Platform.

  • If you dispute the calculation of RentOui Fees or Lender Fees in connection with your Balance or any Payout, you must notify RentOui in writing within thirty (30) days of any Payout that you believe may be adjusted in connection with such a dispute. Failure to so notify RentOui will result in the automatic, irrevocable waiver by you of any claim relating to such disputed calculation or any related Payout.

  • Payouts will be calculated solely based on records maintained by us. No other measurements or statistics of any kind will be accepted by us or have any effect under the Terms.

  • We may withhold any taxes or other amounts from payments due to you as required by law. To protect against the risk of liability, we may request that any Payment Provider we use hold any Payouts or other amounts otherwise payable to you according to the Terms based on certain factors, including Lender history, seller performance, the riskiness of a particular kind of Item, or your filing of a dispute claim.

LENDERS ARE INDEPENDENT CONTRACTORS.

  • Neither RentOui nor any Lender will be deemed to be an agent of the other for any purpose, and the relationship between RentOui and any Lender will only be that of independent contractors. Except as may be expressly set forth in the Terms, neither RentOui nor any Lender will have any right or authority to assume or create any obligations or to make any representations or warranties on behalf of the other party, whether express or implied, or to bind the other party in any respect whatsoever.

PUBLICITY

  • You may not issue or make any publicity release (including press releases and advertising or solicitation materials) or other public statement: (i) relating to the Terms or any agreement formed by the Terms between you and RentOui or you and any other Platform user; (ii) using RentOui's name or referencing the Platform; or (iii) suggesting or implying any endorsement by RentOui of you and Items you make available through the Platform without the prior written approval of RentOui, which RentOui may withhold in its sole discretion.

AUTHENTICATION SERVICE

  • RentOui may make one or more third-party authentication services (each, an "Authentication Service") available to you through the Platform to evaluate the authenticity of any Item you make available for Rental or Purchase. Currently, RentOui enables Lenders to use Real Authentication (website located athttps://realauthentication.com) as an Authentication Service in connection with the Platform.
  • If and when an approved Authentication Service notices RentOui that an Item you have submitted for authentication is, in the judgment of the Authentication Service, in fact authentic, RentOui will ensure that the listing for the Item in the Marketplace includes a badge or notification clearly stating or signifying this fact.
  • While the fee for the use of an Authentication Service will be paid by you to RentOui, you acknowledge and agree that any Authentication Service you use is a Third-Party Resource. As such, the agreement for the Authentication Service's services will be between you and the Authentication Service and RentOui will not be party to that agreement. You further agree you will comply with any legal terms and conditions required by the Authentication Services in connection with their providing authentication and related services to you.
  • RENTOUI MAKES NO REPRESENTATIONS OR WARRANTIES ABOUT THE ACCURACY OR QUALITY OF AN AUTHENTICATION SERVICE AND YOU USE SUCH THIRD-PARTY RESOURCE AT YOUR OWN RISK.YOU ACKNOWLEDGE AND AGREE THAT NEITHER RENTOUI NOR ANY OTHER RENTOUI PARTY WILL HAVE ANY LIABILITY OR RESPONSIBILITY WHATSOEVER FOR THE ACTIONS OR OMISSIONS OF AN AUTHENTICATION SERVICE.

COUNTERFEIT ITEMS

  • RentOui has the right, in its sole discretion, to report its discovery that any Item you have made available through the Platform is counterfeit or likely to be counterfeit to any legal authorities it so chooses.
  • In the event you use a third-party authentication service made available through the Platform to confirm the authenticity of an Item (an "Authentication Service") and the Authentication Service determines that the Item is or is likely to be counterfeit or otherwise inauthentic, you must immediately remove that Item from the Platform. You will also be immediately charged an additional fee of $300.00 to RentOui for its additional work to ensure your compliance with the preceding sentence.

RIGHT TO TERMINATE OR LIMIT YOUR LENDER ACTIVITIES

  • In addition to RentOui's right to terminate a user's Account (as set out in the Terms), we reserve the right, at any time, in our sole discretion, for any or no reason, and without notice to you, to limit, suspend or terminate any or all of your rights to access or use the Platform, any Platform Services, or any Platform Content, in connection with any actions you may take or activities you may engage in as a Lender including (i) making any Items available for Rental or Purchase of Items on or through the Platform, (ii) any discussions or other communications with other Platform users about a possible Rental or Purchase, (iii) entering into transactions with another Platform user for the Rental or Purchase of an Item, (iv) marketing or promoting any Items you make available for Rental or Purchase through the Platform (collectively, "Lender Activities").
  • We also reserve, at any time, in our sole discretion, for any or no reason, and without notice to you, to remove any Item you make available for Rental or Purchase from the Marketplace.