Terms & Conditions – Reservation of Polestar 6 LA Concept edition

1. BACKGROUND

1.1    

Polestar Performance AB, company no. 556653-3096 (“Polestar”) has designed a concept car, the Polestar O2/electric roadster. Polestar is now considering to produce a limited edition car, the Polestar 6 LA Concept edition, which will be based on the Polestar O2/electric roadster (the “Car”).  

1.2    

These terms and conditions shall apply between Polestar and any natural or legal person (the “Customer”) in relation to the Customer’s reservation of the Car on Polestar’s website (polestar.com) (the “Agreement”). In connection with the reservation, the Customer will have to pay a fully refundable reservation fee (the “Reservation Fee”) to Polestar in the amount of USD $25,000 within ten (10) business days of having received the payment instructions from Polestar. 

2. RESERVATION AND FUTURE PURCHASE AGREEMENT

2.1    

The Agreement is concluded when the reservation has been made by the Customer and is subject to the following prerequisites:

(a) The Customer, if it is a natural person, is at least 18 years of age and has legal competence.(b) The Customer has read, understood, and accepted these terms and conditions.(c) The Customer has paid the Reservation Fee to Polestar within the time period stated in this Agreement.(d) The Customer is not or is not acting on behalf of a person, designated on any sanctions list imposed by the UN, EU or US.(e) The Customer may be a business or corporate entity, provided that Customer can validate the ownership of, or employment by, the relevant business or corporate entity upon Polestar’s request and provided the Customer is not acting on behalf of any motor vehicle manufacturer who competes with Polestar.

2.2    

The completion of the Agreement places the Customer in que for the future opportunity of entering into a purchase agreement for the Car. Polestar will keep the Customer updated on the development of the Car and contact the Customer when a Car purchase agreement is ready to be entered into. The reservation does not constitute a purchase agreement, nor does it oblige the Customer or Polestar to enter into a purchase agreement.

2.3    

While Customer and Polestar are entering into this Agreement, Customer expressly acknowledges that, if and when Customer is offered a purchase agreement for the Car, it must enter into that purchase agreement and take delivery of the Car through an authorized Polestar retailer in the market. Customer may choose any authorized Polestar retailer in the market.

2.4    

The Customer understands that the Car is currently not being produced or sold. Estimated time for start of production and/or delivery can be subject to adjustments and Polestar does not guarantee any time as to when a Car purchase agreement can be entered into or when and if the Car may be produced or delivered. Similarly, any estimated purchase price provided for the Car can be subject to adjustments and Polestar is not bound by any such estimate. If the Customer and an authorized Polestar retailer enter into a Car purchase agreement, the purchase price and the further terms and conditions regarding the purchase will be set forth in the purchase agreement. 

2.5    

If the Customer and an authorized Polestar retailer agree on a Car purchase agreement, the Reservation Fee will be refunded to the Customer. The Reservation Fee will be refunded within thirty (30) days after a purchase agreement is executed.

2.6    

Customer agrees to update Polestar with any change to their primary contact email or mailing address to ensure Polestar can communicate with Customer.

3. CANCELLATION'

3.1    

This Agreement and the reservation may be cancelled at any time and for any reason by Polestar or by the Customer. If the Agreement and the reservation is cancelled, the Customer is entitled to a full refund of the Reservation Fee.

3.2    

The Customer is aware and acknowledge that the funds of the Reservation Fee will not be held separated from other financial means or in an escrow or alike and Customer confirms that it understands the implications thereof. 

3.3    

The Customer is not entitled to interest on the funds of the Reservation Fee.

3.4    

A refund shall be made by Polestar within thirty (30) days from the day Polestar received a written cancellation by the Customer, including the Customer’s payment details. A cancellation is made by contacting Polestar at: editions@polestar.com. The refund will be paid to the Customer who paid the Reservation Fee and to the same bank account that was used when making the payment unless Polestar has been notified by the Customer that the bank account has changed and has been provided with new bank account in the Customer’s name. 

4. REMEDY AND LIMITATION OF LIABILITY

4.1    

The Customer’s only remedy under this Agreement is repayment of the Reservation Fee.

4.2    

Polestar shall under no circumstances be held liable for any direct or indirect damage, including but not limited to loss of profit, loss of use, loss of goodwill or unjust enrichment arising out of or in connection to the reservation or Reservation Fee.

5. PRIVACY POLICY

Polestar’s privacy policy is incorporated in these terms and conditions. The privacy policy can be found at https://polestar.com/us/legal/privacy/.

6. MISCELLANEOUS

6.1    

This Agreement constitutes the entire agreement between the Parties regarding all of the issues set forth in the Agreement, including the reservation, and supersedes any and all prior written or verbal undertakings and agreements.

6.2    

The Customer may not, without the prior written consent of Polestar, assign any of its rights and obligations under the reservation to a third party.

6.3    

No waiver of any of the provisions of the Agreement shall be binding upon Polestar unless in writing and signed by duly authorized representatives.

7. DISPUTES AND GOVERNING LAW

7.1    

This Agreement shall be governed by Swedish law, without regard to its conflict of law provisions.

7.2    

If either Customer or Polestar have a dispute relating to this Agreement, the party raising the dispute will send a written notice of the dispute to the other, along with the requested resolution. Customer can send its request to Polestar at editions@polestar.com. 

7.3    

If a dispute is not resolved within 60 days after such notice, Customer and Polestar agree that any dispute or claim between Customer and Polestar or relating in any way to this Agreement will be resolved by binding arbitration, rather than in court, except that either party may assert claims in small claims court if the claims qualify. There is no judge or jury in arbitration, and court review of an arbitration award is limited. However, an arbitrator can award on an individual basis the same damages and relief as a court (including injunctive and declaratory relief or statutory damages) and must follow this Agreement just as a court would. Claims arising out of or relating to the validity, application, scope, enforceability, or interpretation of this provision (the “Arbitration Agreement”) shall also be decided by an arbitrator.

7.4    

Unless otherwise agreed, the arbitration will be conducted by the American Arbitration Association (“AAA”). The arbitration must be conducted in accordance with AAA’s Consumer Arbitration Rules, which are available at www.adr.org or by calling the AAA at 800-778-7879. The arbitration process shall include the appointment of a neutral arbitrator. A party who desires to initiate arbitration must provide the other party with a written Demand for Arbitration. AAA provides a form Demand for Arbitration –Consumer Arbitration Rules at www.adr.org or by calling the AAA at 1-800-778-7879.

7.5    

Polestar will reimburse Customer for the costs of the arbitration unless the arbitrator determines the Customer’s claims are frivolous. Such costs are limited to administrative fees and arbitrator expenses paid to AAA. Customer may choose to have the arbitration conducted by telephone or video, based on written submissions, or in person in the county where Customer lives or at another mutually agreed location.

7.6    

CUSTOMER AND POLESTAR EACH AGREE THAT CUSTOMER AND POLESTAR MAY BRING DISPUTES AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN A CLASS, COLLECTIVE, CONSOLIDATED, OR REPRESENTATIVE ACTION. The arbitrator cannot combine more than one person's claim into a single case, and cannot preside over any class, collective, consolidated, or representative arbitration proceeding (unless the parties both agree to change this in writing).

7.7    

The parties also both agree that Customer or Polestar may bring suit in court to: 1) enjoin infringement or other misuse of intellectual property rights; 2) file bankruptcy; 3) enforce a security interest in the Car by repossession; 4) take legal action in court to enforce the arbitrator’s decision; or 5) request that a court review whether the arbitrator exceeded the authority granted by this Arbitration Agreement. Customer also agrees that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to this Agreement must be filed within one (1) year after such claim or cause of action arose or be forever barred. 

7.8    

Any portion of this Arbitration Agreement that is unenforceable shall be severed, and the remaining portions shall be enforced. But if the waiver of class action rights is deemed unenforceable in connection with a claim involving class allegations, the entire Arbitration Agreement shall be unenforceable. If multiple claims or remedies are asserted in one action and one or more of those claims or remedies would not be subject to arbitration, Customer and Polestar agree that the claims or remedies that would not be subject to arbitration must be stayed until all claims or remedies that are subject to arbitration have been resolved. Customer and Polestar also agree that if claims or remedies are asserted against multiple parties, some of whom are not required to arbitrate, the claims or remedies subject to arbitration must be severed.

7.9    

Customer may opt-out of the Arbitration Agreement, within 60 days from the date Customer enters into this Agreement with Polestar, by sending an email to editions@polestar.com from the email associated with Customer’s reservation with “Arbitration Opt-Out” in the subject line and indicating Customer’s request to opt-out of the arbitration provision in the body of the email.