ZEBIT ACCOUNT HOLDER AGREEMENT

Rev – 08/2018

IMPORTANT: This Account Holder Agreement contains terms and conditions that affect the use of your Zebit Account. Please read carefully and keep a copy for your records. 

A Zebit Account (hereinafter an “Account“) is an account whereby users are given access to Zebit’s private ecommerce marketplace for consumer goods and services and deferred payment options for such purchases including but not limited to, no-cost, interest-free, closed-end retail installment financing.

    1. AGREEMENT. This Account Holder Agreement (hereinafter “Agreement”), along with any other documents we give you pertaining to your Account, establishes the terms and conditions that control the use of your Account with us. By opening an Account, you agree to these terms and conditions. For the purposes of this Agreement, the words “you” and “your” mean any person who applies for and or obtains and uses and Account. The words “we,” “us,” and “our” mean Zebit, Inc.
    2. ELIGIBILITY. To open an Account, you must be at least 18 years old, a legal resident of the United States, and satisfy our stated eligibility criteria applicable to your applicant group. Accounts are available in the United States except for Washington D.C.
    3. ZEBITLINE. If you are successfully approved for an Account, you will be given a Zebitline, which is the maximum amount of potential credit we may make available to you to make a purchase from us. This amount is never guaranteed, and the use of any credit associated with your Zebitline is determined at the time of purchase. The amount of potential credit associated with each Account and the way in which that amount is determined is subject to our internal underwriting policies. Our underwriting typically involves verification of certain factors related to your identity, income, and employment.
    4. YOUR INFORMATION. To process your application and maintain your account on an ongoing basis, you must provide us with personal information. You agree that any information you provide us will be current and accurate. You certify that you have not instituted a credit freeze resulting from an alleged identity theft or any other restriction that may prevent our ability to access your information. We reserve the right to share non-personally identifiable, aggregate level data on all of our account holders.
    5. PERSONAL INFORMATION. We use third party providers to verify the personal information you provide during the application process. While some of these providers are considered consumer reporting agencies, during the application process, we do not pull consumer credit scores from the major credit bureaus and do not pull any information that will result in an inquiry on your credit report. By providing us your personal information and applying for an Account, you agree to allow us to verify this information at the time of your application, and if approved, at future times to determine your continued eligibility. In determining your continuing eligibility, we may ask you to provide additional information. If we ask you for additional information and do not receive a response within a reasonable amount of time, we reserve the right to freeze or terminate your Account.
    6. ADDITIONAL VERIFICATION OF INCOME. To verify your income, we may ask you to provide us either recent paystubs, bank statements or read-only access to your bank account statements online using a third-party service provider. By providing us with access to your bank statements during the application process you are granting us, and our service provider, full legal authority to act as your agent in accessing a read-only statement of your account activity at the time of your application and at future times to determine your continued eligibility. We do not store your account credentials, nor will we have access to your account. You certify that you maintain sole ownership over any accounts you provide us access to, or that you have the permission of any and all persons with any interest in the account if it is a joint account.
    7. ONGOING VERIFICATION. If at any time in the future we are unable to verify that you continue to meet the eligibility requirements, we reserve the right to lower your Zebitline or terminate your Account. If for any reason we no longer have access to a third party source that we use for verification of your eligibility information, we reserve the right to ask you for additional information, lower your Zebitline, and/or terminate your Account. If we are unable to verify your eligibility after such loss, we reserve the right to lower your Zebitline or terminate your Account.
    8. PURCHASES. Each purchase you make from Zebit is a separate extension of closed-end credit subject to our internal underwriting policies. Each order is reviewed as a separate extension of credit and is subject to approval or rejection based on certain characteristics related to fraud and/or risk of loss. Granting of a Zebitline is not a guarantee we will enter into a credit transaction with you when you attempt to purchase.
    9. FINANCING OPTIONS. Every purchase you make with us using your Zebitline can be paid over six (6) months, with no-interest, subject to a certain percentage due at checkout. Additionally, based on our internal underwriting, we may offer you more than one financing option, which may include but is not limited to a longer repayment period, subject to an applicable finance charge.
    10. PURCHASES AGREEMENTS. Each purchase you make with your Account is subject to a specific retail installment financing purchase agreement (hereinafter a “Purchase Agreement”). Each Purchase Agreement contains terms and conditions governing that purchase. In the event there is a conflict between the terms of any Purchase Agreement and this Agreement, the terms of the Purchase Agreement shall control.
    11. IDENTITY THEFT. We have internal policies to detect and prevent identity theft. Pursuant to these policies, if we determine that anything related to your application or your Account indicates potential identity theft, we may deny your application or freeze your Account pending our internal investigation. If we find evidence of identity theft, we may terminate your Account or application and turn any necessary information over to the relevant law enforcement authorities.
    12. FRAUDULENT ACTIVITY. We have several internal policies in place to detect and prevent fraudulent activity related to applications, orders, and Accounts. If any activity related to your application, order, or Account is suspected as fraudulent according to our internal policies, we may deny your application, refuse orders, freeze your Account pending investigation of the fraudulent activity, and ultimately terminate your Account.
    13. INCOMPLETE OR INACTIVE ACCOUNTS. If you have applied for an Account, been approved, but have not created a password to complete setup process, your account will be deemed incomplete. Incomplete Accounts may be deleted thirty 30 days from the date of the approval. We do periodic reviews of Accounts to determine inactivity. If we see that your Account has not been accessed for a significant amount of time, we may contact you to determine your continued interest in retaining your Account. If you fail to respond to such contact within a reasonable amount of time, we may freeze or terminate your Account.
    14. DEFAULT. Your Account will be in default if you miss a scheduled payment due under any outstanding Purchase Agreement(s) you have with us. Accounts in default will be frozen until payments are made to bring any and all Purchase Agreement(s) current with no past due payments. If your Account goes into default several times over a certain period, we may elect to freeze your Account until we see consistent repayment. If your Account remains in default for ninety (90) days with no payments made, your Account may be terminated.
    15. EFFECT OF TERMINATION. In the event that we freeze or terminate your Account according to the terms of this Agreement, you are still responsible for any unpaid amounts remaining on any outstanding Purchase Agreement(s). If your Account is terminated pursuant to this Agreement, you may not be able re-apply for an Account in the future.
    16. DATA FURNISHING. We may report information about your account to the credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.
    17. ZEBITLINE INCREASES. We may elect to raise your Zebitline at any time according to our internal policies and assessment of your Account performance. If we determine an increase to your income while verifying your continuing eligibility as described in this Agreement, we may elect to raise your Zebitline amount in accordance with our ongoing underwriting policies.
    18. ZEBITLINE DECREASES. We may elect to lower your Zebitline amount in several instances including but not limited to the following: (i) if your Account goes into default and you miss consecutive payments over a thirty (30) day period, we may lower your Zebitline, (ii) if you exhibit erratic repayment behavior, we may temporarily reduce your Zebitline amount until there is consistent repayment on your Account, or (iii) if we determine a decrease to your income while verifying your continuing eligibility as described in this Agreement, we may elect to lower your Zebitline in accordance with our underwriting policies. Additionally, we may lower your Zebitline as a result of our ongoing verification of your eligibility.
    19. SECURITY. It is your responsibility to protect your password and login information for your Account. Do not share this information with anyone. If you believe your Account information has been compromised, please contact us immediately at (855)-449-3248 or help@zebit.com.
    20. CONTACT INFORMATION. By opening an Account, you agree to provide us with accurate and up to date contact information related to your Account. Failure to respond to requests or inquiries from us can have a potentially negative impact on your Account.
    21. RECORD RETENTION. We retain all application and Account information according to our internal policies for both internal compliance purposes as well as compliance with state and federal law.
    22. APPLICABLE LAW. This Agreement and all matters arising out of this Agreement are governed by, and construed in accordance with, the laws of the State of California, without regard to the conflict of law provisions thereof.
    23. GENERAL. You may not assign or delegate any of the rights and responsibilities contained in this Agreement. No failure or delay on our part to exercise any of our rights under this Agreement shall impair such right or be construed to be a waiver of any breach of your obligations under this Agreement.
    24. CHANGES TO THIS AGREEMENT. Zebit reserves the right to change the terms of this Agreement at any time. If any material changes are made to this Agreement, we will notify you by email to the address we have on file. It is your responsibility to ensure we have an up-to-date and deliverable email address for you. Your continued use of your Account shall be deemed your acceptance of this Agreement.