Payments Policy

Last Modified / Effective Date: November 20, 2017

THIS PAYMENTS POLICY (“POLICY”) SETS FORTH THE RULES FOR BUYERS AND SELLERS USING THIS PLATFORM TO BUY AND SELL PRODUCTS.

BY USING THE PLATFORM, YOU AGREE TO BE LEGALLY BOUND BY THIS POLICY, THE WEBSITE TERMS, AND THE AVVE PRIVACY POLICY (“AVVE TERMS”). YOU MUST BE THE AGE OF MAJORITY IN THE STATE WHERE YOU RESIDE TO USE THIS WEBSITE.

WHAT IS AVVE? Avve, Inc. (“Avve” or “we”) allows users to buy or sell products using the Avve online platform (“Platform”). Avve does not manufacture, purchase or sell any products offered on the Platform.

PAYMENT METHODS. Avve gives users several ways to pay for products and accept payment for products purchased and sold using the Platform (“Payment Methods”). Sellers must choose at least one Payment Method, but may choose to use multiple Payment Methods.

Payment Providers. Avve does not take payments from buyers. Avve offers buyers and sellers the ability to access and use one or more payment providers, including Stripe, Inc. (“Stripe”). (“Payment Providers”) Avve may add, remove or change payment Providers and Payment Methods at any time. We will attempt to notify users before making changes to the Payment Providers where possible. Avve does not have access to your financial information when you buy or sell products.

Third-Party Terms. Stripe permits you to use its payment services if you agree to comply with its individual website terms and conditions and privacy policy (“Third-Party Terms”). You can find the Third-Party Terms for Stripe at https://stripe.com/us/legal.. If Stripe or another Payment Provider notifies Avve that you have violated its Third-Party Terms, Avve may suspend or terminate your access to the Platform, terminate your Account, and cancel any purchases in process.

Authorization. If you use the Platform, you authorize the Payment Providers to store your Payment Method(s). The debits and credits made to and from your Payment Method account(s) occur automatically and you consent to such automatic debits and credits.

Personal Information. You authorize Avve to collect personal information in connection with making an order: (i) to facilitate buying and selling products, (ii) for our collection efforts, (iii) for any purpose described in the Avve Terms, (iv) to verify your identity, or (v) for any other legal purpose.

YOUR RESPONSIBILITIES WHEN USING THE PAYMENT METHODS.

Payment Method Use and Information. You are solely responsible for your use of the Payment Methods. You must keep your Payment Methods up to date and accurate, and ensure that no information expires or becomes out of date. If your Payment Method expires or is declined, you are still obligated to make payments for the products you agreed to purchase using Avve or you must pay the Cancellation / Re-stocking Fee as described below, if applicable.

Follow the Law. You may not use a Payment Method which you are not authorized to use. You may not use the Platform to commit fraud, money laundering or for any other illegal or immoral purpose as determined by Avve, in its sole discretion.

Termination of Services. If Avve terminates your access to the Platform, you remain obligated to pay any fees owed to Avve or another user.

FEES PAYABLE BY SELLERS. Sellers agree to pay Avve the following fees to use the Platform:

  • . Set-up Fees. Avve charges sellers a two dollar (U.S.$2.00) fee (“Set-Up Fee”) every time a buyer and seller set-up one transaction using the Platform by agreeing to Sales Terms (defined below) (“Purchase Set-Up”). Avve will automatically charge the seller the Set-Up Fee using seller’s Payment Method when Purchase Set-Up occurs. Set-Up Fees are not refundable, even if the seller does not sell the listed product.

    Avve charges the seller a Set-Up Fee per each Purchase Set-Up, not based upon the number of items offered for sale in the particular listing. In the event a Sales Contract between a buyer and seller is terminated and a new Sales Contract is initiated with the same seller for the same product and/or listing, Avve will charge seller a second Set-Up Fee at the new Purchase Set-Up. Seller agrees to comply with the terms and the spirit of this provision.

    For example, if seller lists ten (10) mobile phones for sale in one listing and one (1) buyer agrees to purchase all ten (10) mobile phones in that one (1) listing, and the buyer and seller agree to one (1) Sales Contract, seller will automatically be charged a Set-Up Fee of U.S.$2.00 when Purchase SetUp occurs. Alternatively, if that same seller sells five (5) mobile phones to one (1) buyer under one (1) Sales Contract and another five (5) mobile phones to another buyer under another one (1) Sales Contract, seller will be charged two (2) separate SetUp Fees of U.S.$2.00 each, totaling U.S.$4.00 charged to seller.

  • Percentage Fees. Avve charges each seller a fee of three percent (3%) off the “Base Amount,” which is the amount of fees received by the seller from a buyer when using the Platform, including applicable taxes and shipping charges, if any (“Percentage Fee”). Avve will immediately charge seller for the Percentage Fee using seller’s chosen Payment Method upon seller’s receipt of every payment from the buyer. The Percentage Fee applies to every payment made by a buyer to a seller for a product. For example, if a buyer purchases a product for $120.00, payable in four (4) installments, Avve will charge the seller four installments of three percent (3%) each, or $.90 x 4.

  • Payment Provider Fees. In addition to the fees payable to Avve, the seller must pay the Payment Provider the following fees: i. Stripe Fees. The seller shall pay Stripe a fee of two point nine percent (2.9%) off the Base Amount for every sale processed using the Stripe Payment Method (“Stripe Fee” or as otherwise provided in a written agreement between Stripe and you). Stripe will automatically charge seller the Stripe Fee upon use of Stripe to process a payment. Stripe will charge the Stripe Fee to seller each time a buyer makes an installment payment to a seller, so multiple charges will occur for a single transaction.

  • Cancellation / Re-stocking Fee. In the event seller charges to buyer a Cancellation / Re-stocking Fee (defined below), Avve will retain three percent (3%) of the Cancellation / Re-stocking Fee from seller and any additional Percentage Fees previously received by Avve will be credited or returned to seller’s Payment Method, less any fees owed by seller under the Avve Terms. Set-Up Fees are nonrefundable. The seller should review the Third-Party Terms to review the Stripe policies regarding the Stripe Fee as seller may not receive a full refund of those fees.

TRANSACTIONS BETWEEN BUYERS AND SELLERS.

Sales Terms. The seller is responsible for setting the price for the products it sells using the Avve Platform. The seller promises to be honest, accurate and not misleading about the price it charges a buyer, the listing and the product being sold. A seller sets the price for a product using the “Terms Settings” and “Page Settings” features on the Avve Platform. The seller must set the down payment amount, the payment period, the payment frequency, the delivery options, the Set- Up Fees, the Cancellation / Re-stocking Fees, the taxes, product descriptions and product images (“Sales Terms”). All prices must be in U.S. Dollars.

Avve sets certain restrictions and requirements for what buyers and sellers may agree to with regard to the Sales Terms. See the Seller FAQs and Buyer FAQs found at https://avve.com/faq for additional details about what is permitted when listing a product and creating Sales Terms.

Once the buyer and seller have agreed to the Sales Terms and “clicked” in agreement, the buyer and seller have entered into a binding sales contract with each other for the purchase and sale of the listed product in accordance with the Sales Terms. An email will be generated to buyer and seller documenting the transaction and Sales Terms.

Sales Terms Length. A purchase must, at a minimum, last for thirty (30) calendar days in length. Unless prohibited by applicable law, the earliest a seller may schedule shipment of a product is thirty (30) days from the Purchase Set-Up date. This provision is intended as a measure to reduce the risk of fraud. C. Product Listing. Sellers must upload a product image and description that is honest and not misleading. The seller may not increase the price or change the product description after the buyer and seller have agreed to the Sales Terms, without each party’s mutual consent.

Negotiating the Initial Sales Terms. A buyer may either accept a seller’s Sales Terms or propose a change. Buyers and sellers negotiate the terms as limited per the features and technology of the Platform. In negotiating the initial Sales Terms, the buyer has the option to propose alternative terms two (2) times. If the seller rejects the buyer’s proposed terms both times, the purchase may either be canceled or the transaction may proceed with the seller’s originally proposed terms.

Changes to the Sales Terms After the Initial Agreement. Either party may request a change to the Sales Terms using the “Request Change of Terms” feature in the Platform. The other party can either accept or reject a requested change to the Sales Terms. The parties may only utilize the “Request Change of Terms” feature, or such other feature(s) made available by Avve in the Platform, to seek a change to the Sales Terms after the Purchase SetUp.

i. Consensus. If the parties agree to newly requested changes, those changes are incorporated into the Sales Terms and supersede any prior inconsistent terms. An email will be generated to the buyer and seller, and the Platform will be updated accordingly, documenting the updates to the Sales Terms.

ii. Disagreement. If the other party rejects the requested change to the Sales Terms, the original Sales Terms apply and the Platform will automatically revert to the original Sales Terms. If Sales Terms changes are rejected, the transaction may be cancelled by either buyer or seller, subject to any Cancellation / Re-stocking Fees owed to seller in accordance with this Policy.

Obligations. The buyer must make timely payments to the seller as required under the agreed-to Sales Terms or the buyer is subject to the Cancellation / Restocking Fee in the Sales Terms, if any. The seller must ship products in accordance with the agreed-to Sales Terms after the buyer has made all payments for the product. If a buyer has not paid in full for a product, the buyer is not entitled to receive the product.

Cancellation / Re-stocking Fee. A seller may (but is not required to) charge either a cancellation or re-stocking fee(s) (but not both) if agreed to in the Sales

Terms, if the buyer fails to finish making payments for the product(s) or cancels an order, unless otherwise provided by law (“Cancellation / Re-stocking Fee”). Unless otherwise provided by applicable law, the Cancellation / Re-stocking Fee shall not exceed: (i) thirty percent (30%) of the full purchase price of the product(s), excluding taxes and shipping, or (ii) fifty percent (50%) of the full purchase price of the product(s), excluding taxes and shipping, for custom-made product(s) only. Note that some states limit or prohibit charging a cancellation and/or restocking fee. The seller is solely responsible for complying with laws related to the sale and the permissibility of charging Cancellation / Re-stocking Fees. Cancellation / Re-stocking Fees are due immediately upon the cancellation of an order by buyer or upon buyer’s default under the Sales Terms or Avve Terms.

Missed Payments. If a buyer’s Payment Method is declined, the buyer shall have three (3) calendar days to resolve the issue and make a timely payment to the seller. If a buyer does not pay a payment due to a seller within three (3) calendar days of a declined Payment Method, this is considered a missed payment. If a buyer misses a payment for any reason, including if the buyer’s Payment Method is declined and not fixed within three (3) calendar days, the seller may take one of the following actions:

  • i. Cancellation. The seller may cancel the sale and refund to buyer all fees paid to seller, less the Cancellation / Re-stocking Fee, if any was agreed to in the Sale Terms. If the buyer has not paid an amount at least meeting the Cancellation / Restocking Fee, the buyer’s Payment Method will be charged the Cancellation / Restocking Fee.
  • ii. Extend Payment Terms. The buyer or seller may request an extension of time to catch up on the late payment, one (1) time, by either (a) the amount of days listed in the “payment frequency” tab of the Sales Terms, or (b) thirty (30) calendar days, whichever is less. If the other party agrees to extend the payment terms, that extension becomes a binding amendment to the Sales Terms. The seller’s agreement to accept an extended payment for one (1) late payment does not mean that the seller must accept an extended or late payment for any future payments.
  • OR
  • ii. Automatic Extension. If the buyer and seller take no action, the payment terms for the applicable late payment will be extended automatically, one (1) time, by either (a) the amount of days listed in the “payment frequency” tab of the Sales Terms, or (b) thirty (30) calendar days, whichever is less. If the buyer pays within this extended time period, the order shall continue under the Sales Terms. If the buyer does not pay within this extended time period, the order will automatically cancel.

Cancelled Orders.

i. Cancellation Due to Buyer. If: (a) buyer cancels an order (other than for seller’s default), or (b) seller terminates an order due to buyer’s breach of the Sales Terms or Avve Terms, seller is entitled to charge the Cancellation / Re-stocking Fee if one was agreed to in the Sales Term, whether by keeping amounts already received from buyer for that specific order only, or through buyer’s payment to seller until such Cancellation / Re-stocking Fee is met. The seller shall refund to buyer all other fees paid for the non-purchased, canceled product(s), except an agreed-to Cancellation / Restocking Fee set forth in the Sales Terms. The seller shall not keep any other fees for a canceled or terminated order other than an agreed-to Cancellation / Re-stocking Fee, regardless of the reason for the cancellation or any other circumstances.

ii. Cancellation Due to Seller. If: (a) seller cancels an order (other than for buyer’s default), or (b) buyer terminates an order due to seller’s breach of the Sales Terms or Avve Terms, seller shall refund to buyer all fees for the applicable order and shall NOT be permitted to charge or keep a Cancellation / Re-stocking Fee.

Returns and Refunds. The seller shall clearly state on the “Terms Settings” page whether that seller accepts returns and provides refunds, and the time frame and conditions for accepting returns (return shipping fees, used products, etc.) or providing refunds. A seller is not required to accept returns, unless required by applicable law, except for incorrect products shipped. A seller must comply with the returns policy it posts on its Avve page.

Taxes. Avve has provided sellers with a tax calculator as a convenience. If a seller indicates that a purchase is taxable, the tax will be calculated based on the ship-to address of the buyer. If the purchase is an in-store or local purchase, the seller may indicate that the taxable location is based on the seller’s zip code. Even though we provide this tax calculator for the seller’s convenience, the seller is solely responsible for determining whether a purchase is taxable and how it will charge taxes and remit such taxes to the applicable taxing authorities.

A seller may choose to charge taxes separately or include the taxes in the sales price. Buyers and sellers are solely responsible for their tax obligations regarding local, state, federal, international, export and import taxes applicable to each product bought and sold using the Platform. The buyer is responsible for all import taxes and charges, if applicable.

If Avve is required by applicable law to collect and remit taxes, you agree that Avve may automatically increase any amounts charged to you (whether by payments owed by you to Avve or owned by you as a buyer) and collect and remit such taxes to the relevant taxing authorities.

INDEMNITY FOR TAXES. YOU AGREE TO INDEMNIFY AND HOLD AVVE AND ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND PROFESSIONAL ADVISORS HARMLESS FROM ANY ALLEGATION, ACTION, CLAIM, SUIT, LIABILITY, LOSS, JUDGMENT, SETTLEMENT, DAMAGE, COURT COSTS AND ATTORNEYS’ FEES ARISING FROM ANY TAX OBLIGATIONS RELATING TO YOUR USE OF THE PLATFORM, OR YOUR PURCHASE OR SALE OF PRODUCTS USING THE PLATFORM.

Shipping and Delivery. The seller may choose to: (i) charge the buyer for product shipping, (ii) include the shipping cost in the price of the product, or (iii) not charge for product shipping. Alternatively, the buyer and seller may opt for local pick-up. Shipping may be charged, if at all, at a flat rate or at a calculated rate. Shipping should not exceed actual, reasonable costs. The seller is solely responsible for calculating and charging buyer for shipping charges, if any.

The seller is solely responsible for using a reputable shipping carrier to ship products, appropriate packing of products, and purchasing appropriate insurance for products, if applicable. The seller must include a tracking number for all products shipped that are purchased using the Platform. The seller is liable for any disputes that arise relating to shipping, lost packages or anything similar in circumstances where seller has failed to provide a tracking number to a reputable shipping carrier.

CHARGEBACK AND OTHER FEES.

Chargebacks. Buyers and sellers are solely responsible for any fees, charges, penalties or chargebacks charged by a Payment Provider (“Chargebacks”) arising from the sale or purchase of products using a Payment Method, for any reason. Avve is not responsible for Chargebacks of any kind.

In the event a Chargeback is caused by both buyer and seller, or if the buyer and seller disagree about which party is responsible for a Chargeback, Avve may make a good faith determination regarding whether the buyer or the seller was more responsible for such Chargeback, and then that buyer or seller will automatically be charged the applicable Chargeback. BY USING THE PLATFORM, YOU EXPRESSLY AGREE TO ALL AUTOMATIC CHARGES MADE TO YOUR PAYMENT METHOD(S) FOR ANY CHARGEBACKS AS DETERMINED IN THE SOLE DISCRETION OF AVVE OR THE PAYMENT PROVIDERS. Avve reserves the right to terminate your use of the Platform for repeated Chargebacks or other fees.

Collections Fees. If Avve incurs any collections fees, attorneys’ fees or other losses, liabilities, fees or charges arising from: (i) your use of the Platform, (ii) your use of the Payment Methods, or (iii) Avve’s, a Payment Provider’s or a seller’s attempt to collect payments from you (“Losses”), you shall immediately pay to the applicable party all such Losses and you consent that your Payment Methods may be automatically charged for such Losses.

TRANSACTION LIMITS. Avve may impose transaction limits on buyers and sellers using the Platform, in its sole discretion, including if Avve believes any transaction is at high risk for fraud or violation of the Avve Terms. Avve may limit the number of days a product is listed for sale, the number of products a seller may list for sale, the maximum price a seller charges, or the number of transactions between buyers and sellers. Avve shall not be liable to buyer or seller for any transaction limits imposed by Avve.

EXPIRATION DATES. The seller’s listing will expire at 11:59 p.m. ninety (90) days from the date of listing (“Expiration Date”), except for any sales in progress. The seller will receive an email reminder of any of products listed in the Platform that will soon expire. If the seller updates any information in the listing, the listing Expiration Date does not change. After a listing has expired, the seller must repost the listing if the product has not been sold if the seller wishes to continue listing the product.

RISKS OF USING THE PLATFORM. AVVE DOES NOT SCREEN WEBSITE BUYERS OR SELLERS. YOU BUY AND/OR SELL PRODUCTS USING THE PLATFORM AT YOUR SOLE RISK.

SECURITY. Avve makes commercially reasonable efforts to provide a secure Platform and respond to any complaints of fraud and abuse. Avve may assist you in its sole discretion in the event you report fraud, abuse or misuse of the Platform. Avve has no obligation to reimburse you for any fees, payments or products you lose, or liabilities you incur, as a result of your use of the Platform.

COMPLIANCE WITH LAWS. Buyers and sellers must comply with all international, federal, state and local laws, rules and regulations applicable when using the Platform to buy or sell products. Certain states have laws governing purchases. Sellers are responsible for understanding and complying with those purchase laws or they should not use the Platform. Some states: (a) limit the amount of the cancellation and/or restocking fees that may be charged (if any are permitted), (b) instruct a number of days a buyer is permitted to be delinquent in payment before a transaction may be cancelled, (c) have certain requirements about inventory on hand, or (d) require full refunds.

Avve does not provide you legal advice with how to comply with any laws, including purchase laws. Because every state has different laws, the Platform does not necessary prevent you from creating Sales Terms that may conflict with the applicable laws in the state you are selling from or to.YOU SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS AVVE AND ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND PROFESSIONAL ADVISORS FROM ANY ALLEGATION, ACTION, CLAIM, SUIT, LIABILITY, LOSS, JUDGMENT, SETTLEMENT, DAMAGE, COURT COSTS AND ATTORNEYS’ FEES INCURRED BY AVVE ARISING FROM YOUR VIOLATION OF APPLICABLE LAWS OR THE AVVE TERMS WHEN YOU USE THE PLATFORM.

APPROPRIATE USE OF THE PLATFORM. Any attempt to avoid paying fees owed by you is prohibited and a breach of the Avve Terms. You shall not use the Platform to solicit transactions and then buy or sell the same or similar products through a means

outside of the Platform. You shall not make payments for products sold through the Platform through a means other than the Payment Methods provided to you through the Platform.

DISPUTES.

WITH AVVE. ANY DISPUTES ARISING BETWEEN YOU AND AVVE DIRECTLY, SUCH AS HOW AVVE HAS ALLOCATED CHARGEBACKS OR CHARGED YOU FEES, WHICH CANNOT BE AMICABLY RESOLVED BY A GOOD FAITH DISCUSSION BETWEEN THE PARTIES, SHALL BE SUBMITTED TO BINDING ARBITRATION IN ACCORDANCE WITH THE AVVE TERMS. PLEASE SEE THE AVVE TERMS FOR DETAILS ABOUT BINDING ARBITRATION.

Between You and Others. Avve encourages buyers and sellers to amicably resolve disputes. Disputes regarding transactions between buyers and sellers should be resolved between buyers and sellers or may be submitted to the applicable Payment Provider. Furthermore, if you have a dispute with a Payment Provider, you should submit the dispute to the applicable Payment Provider. You should review the applicable Third-Party Terms, as described above, for more information. Avve may, in its sole discretion, intervene in transactions or disputes in order to facilitate the Platform or for other customer service reasons.