Avis Direct Terms and Conditions

Revision: 7/29/2021

Welcome to www.avisdirect.com, a website for a used car program exclusively for licensed dealers (the "WEBSITE").

1. General

By voluntarily proceeding with a vehicle purchase from Avis Car Sales, LLC (or its affiliates or subsidiaries) (collectively, "SELLER") via the WEBSITE, you agree, for yourself, your dealership, your company, your representatives, and your company's representatives (collectively, "you" or "PURCHASER"), to accept and abide by these TERMS, including any incorporated policies and all policy decisions of SELLER, all of which may be amended from time to time in SELLER's sole discretion (these "TERMS"). These TERMS will govern each sale transaction on the WEBSITE, and will be enforceable by either party against the other like any other written negotiated agreement. Additional Definitions: "GATE RELEASE" is defined herein as the "Avis Direct Funds Received" email stating "This is the Official Release" (or other similar language). "NORMAL WEAR AND TEAR" is defined herein as signs of normal use, including, but not limited to: minor dents; scratches; cosmetic blemishes; scrapes; and carpet/upholstery wear/stains, and shall apply to vehicles, WEARABLE ITEMS (as defined below) and/or SAFETY ITEMS (as defined below). "PURCHASE DATE" is defined herein as the date funds are transferred in connection with a PURCHASED VEHICLE (as defined below). "PURCHASED VEHICLE(S)" is defined herein as a vehicle/vehicles PURCHASER has purchased on the WEBSITE. "SALE DATE" is defined herein as the date the WEBSITE sale is invoiced to PURCHASER for payment. "RELEASE DATE" is defined herein as the date when both of the following have occurred: (a) SELLER receives funds for a PURCHASED VEHICLE; and (b) a GATE RELEASE is forwarded to PURCHASER. "SAFETY ITEM" is defined herein as a part of a vehicle that a manufacturer generally recognizes as a function of safety, including, but not limited to: airbags, seatbelts, headlamps, tail lamps, turn signals, brake lights, and collision avoidance features. "WEARABLE ITEMS" is defined herein as parts of a vehicle that manufacturers generally recognize as needing replacement/adjustment during the expected life of a vehicle. These items are normally identified in the applicable owner's manual as needing routine check and replacement, and include, but are not limited to: tires, wipers, batteries, brake pads, shoes, rotors, belts and hoses, lubricants/fluids, timing belts, bulbs, filters, shocks and struts. VEHICLES ARE NOT GUARANTEED. EXCEPT FOR ANY MANUFACTURER'S WARRANTY, IF ANY, ALL VEHICLES ARE SOLD "AS IS" AND "WITH ALL FAULTS". THERE ARE NO WARRANTIES BY SELLER, EXPRESS OR IMPLIED, WHETHER OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE, WHICH EXTEND BEYOND THE DESCRIPTION OF THE VEHICLE POSTED ON AVISDIRECT.COM. AT THE TIME OF PURCHASE. SELLER makes no warranty or representation whatsoever regarding any vehicle that PURCHASER intends to export from the United States of America, and PURCHASER assumes all risks and legal and other duties regarding any such vehicle. Any requested price adjustments or vehicle rejections must be made prior to the applicable PURCHASE DATE. All transactions under the WEBSITE are entered at SELLER's offices located at 6 Sylvan Way, Parsippany, NJ, USA and the laws of the State of New Jersey govern all issues relating to such transactions, including, but not limited to, the enforceability and interpretation of these TERMS and any other documents relating to such transactions. Subject to Section 9 (Arbitration Process/Resolution Guidelines), any disputes that are not covered by or resolved under Section 9 will be resolved in a state or federal court of competent jurisdiction located in or with jurisdiction over the State of New Jersey, and PURCHASER and SELLER consent and agree to venue and jurisdiction of those courts.

2. Licensed Dealer Affirmation

The WEBSITE is for use by pre-registered and pre-approved licensed motor vehicle dealers ONLY. Unless PURCHASER otherwise explicitly advises SELLER prior to the applicable PURCHASE DATE, PURCHASER warrants that all PURCHASED VEHICLES are intended for resale, and SELLER is exempt from sales tax on any such PURCHASED VEHICLES. PURCHASER will provide any necessary or appropriate documents to exempt PURCHASED VEHICLES from sales tax.

3. Normal Wear and Tear

PURCHASER, as a licensed motor vehicle dealer, understands that all PURCHASED VEHICLES are previously used vehicles. As such, used vehicle(s) will have NORMAL WEAR AND TEAR, and are not subject to arbitration claims. PURCHASER EXPRESSLY agrees, if upon receipt of PURCHASED VEHICLE(S), any damage is found that exceeds NORMAL WEAR AND TEAR, PURCHASER shall notify SELLER within 10 business days from the applicable RELEASE DATE. Damage claims must be directed through the Arbitration section of the WEBSITE. SELLER will attempt to reasonably rectify any damage claim, provided, only substantiated claims above $400 will be considered. By way of example, a substantiated damage claim of $450 shall only result in a net adjustment of $50. Should no notification be received by SELLER within 10 business days of RELEASE DATE, all claims related to the condition of any PURCHASED VEHICLE(S) shall be forever waived. WEARABLE ITEMS are expressly excluded from arbitration claims. No dispute will be considered on noises or conditions that are inherent or typical to a particular model or manufacturer, unless deemed "excessive" by SELLER on non-warranty items. Manufacturer warranty guidelines will be used where applicable to determine whether the condition is excessive. TIRES: UNLESS OTHERWISE DISCLOSED OR DESCRIBED in an associated Condition Report contained on a WEBSITE listing, all tires will have a minimum tread depth of 4/32, as measured on the center tread depth and excluding the outside treads. Tire brands will match by axle on 2WD vehicles and will match on all four tires on 4WD and AWD vehicles. If an associated Condition Report on a vehicle posted on the WEBSITE discloses or describes mismatched tire brands and/or tread depths on any or all tires of less than 4/32", said disclosures SHALL SUPERSEDE any and all promises or expectations otherwise described in this subsection, shall be considered purchased on an "AS IS" basis, and will not be eligible for any arbitration consideration

4. Average Wear and Tear

PURCHASER, as a licensed motor vehicle dealer, understands that all PURCHASED VEHICLES are previously used vehicles. As such, used vehicle(s) will have NORMAL WEAR AND TEAR, and are not subject to arbitration claims. PURCHASER EXPRESSLY agrees, if upon receipt of PURCHASED VEHICLE(S), any damage is found that exceeds NORMAL WEAR AND TEAR, PURCHASER shall notify SELLER within 10 business days from the applicable RELEASE DATE. Damage claims must be directed through the Arbitration section of the WEBSITE. SELLER will attempt to reasonably rectify any damage claim, provided, only substantiated claims above $400 will be considered. By way of example, a substantiated damage claim of $450 shall only result in a net adjustment of $50. Should no notification be received by SELLER within 10 business days of RELEASE DATE, all claims related to the condition of any PURCHASED VEHICLE(S) shall be forever waived.

WEARABLE ITEMS are expressly excluded from arbitration claims

No dispute will be considered on noises or conditions that are inherent or typical to a particular model or manufacturer, unless deemed "excessive" by SELLER on non-warranty items. Manufacturer warranty guidelines will be used where applicable to determine whether the condition is excessive.

TIRES:UNLESS OTHERWISE DISCLOSED OR DESCRIBED in an associated Condition Report contained on a WEBSITE listing, all tires will have a minimum tread depth of 4/32, as measured on the center tread depth and excluding the outside treads. Tire brands will match by axle on 2WD vehicles and will match on all four tires on 4WD and AWD vehicles. If an associated Condition Report on a vehicle posted on the WEBSITE discloses or describes mismatched tire brands and/or tread depths on any or all tires of less than 4/32, said disclosures SHALL SUPERSEDE any and all promises or expectations otherwise described in this subsection, shall be considered purchased on an "AS IS" basis, and will not be eligible for any arbitration consideration

4.Payment

PURCHASER agrees to initiate payment to SELLER within 2 business days of SALE DATE

Wire/ACH to Avis Budget Car Rental, LLC. 6 Sylvan Way, Parsippany, NJ 07054, Bank of New York C/O Aesop Leasing/PV Holding Corp. Account #8900511907/ABA #021000018.

Floor Plan Funding : If PURCHASED VEHICLE(S) are to be funded via PURCHASER's floor plan, SELLER may initiate request of funds with PURCHASER's floor plan provider on or at any time after one business day of purchase.

Company Checks: Only upon pre-approval by SELLER, PURCHASER will overnight Company checks to: Avis Budget Group-Fleet Deletions, 300 Centre Pointe Blvd. Virginia Beach, VA, 23462 Phone 757-687-2445.

PURCHASED VEHICLE(S) must be fully paid within 5 business days of the day of the SALE DATE or the sale may be voided at SELLER's discretion, unless other mutually agreeable arrangements have been made between the parties in writing in advance.

After receipt of payment, SELLER will transfer good and marketable title(s) to be free of all liens and encumbrances to the PURCHASER (or Floor Plan provider, if required).

5.Vehicle Release

SELLER will authorize release of PURCHASED VEHICLE(S) upon receipt of the applicable Bill of Sale (with PURCHASER's signature, if required by PURCHASER's floor plan provider) and receipt of funds.

PURCHASED VEHICLE(S) shall only be accessible for pick up during the times and locations indicated on the GATE RELEASE unless otherwise mutually arranged in advance between the PURCHASER (and/or or transportation agent referred by PURCHASER ("PURCHASER's agent")) and the SELLER's location representative at each respective pick up location.

PURCHASER agrees that should any PURCHASED VEHICLE(S) be left on any of SELLER's premises or other designated pickup location for a period in excess of seven days following the RELEASE DATE, PURCHASER may be subject to a daily storage fee of no less than $10 per day per vehicle. Unless expressly agreed to the contrary in a writing signed by SELLER, SELLER is not a bailee of any PURCHASED VEHICLE(S). PURCHASER is solely responsible for any and all damage, theft, or loss relating to such PURCHASED VEHICLE(S), including, but not limited to, any damage caused by weather conditions, theft, vandalism, rising water or other any other cause, except to the extent caused by the gross negligence or willful misconduct of SELLER.

6.PURCHASER's Responsibilities

PURCHASED VEHICLE(S) are considered delivered to PURCHASER upon PURCHASER/PURCHASER's agent's receipt of the applicable keys, upon which, all costs of transportation, risk of loss and liability pass to PURCHASER. PURCHASER or PURCHASER's agent must inspect PURCHASED VEHICLE(S) immediately upon arrival at the pickup location and note any damage, as well as the odometer reading. PURCHASER or PURCHASER's agent must note any damage on the GATE RELEASE and/or bill of lading PRIOR TO removing PURCHASED VEHICLE(S) from the pickup location. If PURCHASER is claiming damage for an inoperable odometer, the mileage reading at the time of the claim must be the same as the reading noted PRIOR TO removing PURCHASED VEHICLE(S) from the applicable pickup location. PURCHASER must ensure that a copy of the GATE RELEASE and/or bill of lading, including any specific damage notes, is given to SELLER's representative at the pickup location. PURCHASER or PURCHASER's agent (as applicable) is responsible for observing and adhering to all reasonable driving instructions and signs posted at the applicable pickup location. Once a vehicle is removed from the pickup location, SELLER will not be responsible for any obvious damage not identified on the GATE RELEASE, bill of lading or the condition report. SELLER will not arbitrate items that are eligible to be covered under manufacturer warranty.

No dispute can be based upon information listed in Electronic Data Vehicle Histories ("EDVH") (e.g., Carfax, AutoCheck, etc.). It is the responsibility of PURCHASER to obtain any desired EDVH reports prior to the applicable RELEASE DATE.

PURCHASER agrees to indemnify and hold SELLER harmless for any transportation or other damages incurred once the risk of loss has passed to the PURCHASER.

7.PURCHASER's Agent

Any person presenting a GATE RELEASE to SELLER's representative for PURCHASED VEHICLE(S) is irrevocably deemed to be PURCHASER's agent, and the acts and omissions of such person with respect to such vehicle(s) are binding on PURCHASER.

8. Accuracy of Information

Typographical and technology errors or glitches can occur despite SELLER's commercially reasonable efforts, which may cause errors in pricing, disclosure of vehicle trim levels or description of equipment, and are unintentional. In the event of any such error, the sale will be canceled by SELLER and made available to PURCHASER for the corrected price. If PURCHASER declines to purchase such vehicle at the corrected price, any amount(s) that have been paid by PURCHASER for the vehicle will be refunded by SELLER.

9.Arbitration Process / Resolution Guidelines

Any and all claims and disputes that PURCHASER may have regarding a purchased vehicle are to be determined by binding arbitration under the then current arbitration rules of the National Association of Automobile Auctions and the procedures in this section. PURCHASER and SELLER expressly agree that that all such claims will be determined by arbitration and not by judicial or other proceedings and Waive all right to Trial by Jury.

PURCHASER and SELLER agree that all PURCHASED VEHICLE(S) and other transactions relating to these TERMS involve interstate commerce. Arbitration claims should be directed through the Arbitration section of the Avis Direct website. Only one Arbitration Request may be opened for per vehicle regarding any and all mechanical, electrical, undisclosed damages, undisclosed condition(s) or structural damage as defined by current NAAA guidelines. Once an Arbitration Request has been opened for any one or more of the aforementioned reasons, further disputes are not available for such vehicle and are waived by PURCHASER.

In order for an Arbitration claim to be considered, any defects, conditions or discrepancies must be submitted through the Arbitration section of the WEBSITE within 10 business days from the applicable RELEASE DATE. Pictures and repair estimates must be provided within 3 business days following submission of the arbitration by uploading the documents in the Arbitration section of the WEBSITE. If not timely received, the arbitration request will be denied and closed without further consideration.

PURCHASER must not use, repair or modify any PURCHASED VEHICLE(S) for which PURCHASER wants to open an Arbitration claim and must use reasonable care to maintain said vehicle in substantially the same condition it was in at the time of purchase. If either of these requirements are not met, then an Arbitration claim may not be submitted for said vehicle(s).

If a price adjustment between SELLER and PURCHASER is offered and accepted, vehicle becomes "AS-IS" property of the PURCHASER, and is not subject to any further claim or adjustment.

If SELLER agrees to repurchase an arbitrated vehicle, said vehicle must be returned at the time, place and manner as directed to PURCHASER by SELLER and must be returned in the same or better condition than when purchased, in SELLER's reasonable determination. A vehicle is not considered returned until received, inspected, and acknowledged by SELLER.

PURCHASER agrees to promptly return any repurchased vehicle title(s) via postal or courier services that utilize tracking or delivery confirmation. Title(s) must be reassigned back to PV Holding, Inc., notarized (if required) and returned to SELLER or SELLER designee

The return address for any repurchased title(s) will be provided to PURCHASER once SELLER agrees to repurchase the vehicle(s). PURCHASER must return the title(s) free and clear of all liens, claims and encumbrances, and properly assigned to SELLER with all documentation required for SELLER to be able to have clear title to and resell the vehicle, signed and delivered, to be eligible for repurchase by SELLER.

PURCHASER acknowledges that compliance and completion by PURCHASER of ALL the required conditions and steps set out herein are conditions precedent to any approval or processing of payment of requested adjustments. Failure by PURCHASER to timely complete and/or supply required information and documentation may result in the arbitration request being denied by SELLER.