ZEBIT REGISTRATION AGREEMENT
IMPORTANT: This Registration 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, interest-free, closed-end retail installment financing.
- AGREEMENT. This Registration 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 an Account. The words “we,” “us,” “our” and “Zebit” mean Zebit, Inc.
- ELIGIBILITY. To open an Account, you must be at least 18 years old (19 in Alabama or Nebraska, 21 in Mississippi), 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.
- HOW ZEBIT WORKS. You may pay for your purchases of products from Zebit by credit or debit card at the time of purchase. If you wish to finance products purchased from Zebit (“Purchase Credit”), we have a two-step credit purchase process:
- 3.1 SPENDING LIMIT. If you are successfully approved for an Account, you will be given an initial Spending Limit, which is the maximum amount of potential Purchase Credit we may make available to you to make a purchase from us. This amount is never guaranteed, and the use of any Purchase Credit associated with your Zebit Spending Limit is determined at the time of purchase. The amount of potential Purchase 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. We may increase or decrease your Spending Limit from time to time and will so notify you in that event.
- 3.2 PURCHASES. Each Purchase Credit 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 at checkout. Granting of a Spending Limit is not a guarantee we will enter into a credit transaction with you when you attempt a Purchase Credit or that we will approve a Purchase Credit. Zebit does not approve 100% of all orders.
- 3.3 FINANCING OPTIONS. Every Purchase Credit you make with us using your Spending Limit can be paid over six (6) months, with no interest, subject to a specified down payment 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.
- PURCHASE AGREEMENTS. Each Purchase Credit you make with your Account is subject to a specific Retail Installment Contract (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 will control.
- 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. We reserve the right to share non-personally identifiable, aggregate level data on all of our account holders.
- PERSONAL INFORMATION. We use third-party specialty credit reporting agencies to verify the personal information you provide during the application process. 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.
- ADDITIONAL VERIFICATION OF INCOME. To verify your income, we may ask you to provide us with 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.
- ONGOING VERIFICATION. We may reevaluate your financial condition and investigate any information you provided on your Account application at any time. In the course of doing so, we may obtain a current credit report and/or ask you for additional information about your financial condition by answering questions or providing documentation of your eligibility for the Account and Spending Limit, including credit reports from specialty consumer reporting agencies. We may, as a result of any such re-evaluation, (i) increase your Spending Limit; (ii) decrease your Spending Limit; or (iii) deem your Account to be in default.
- IDENTITY THEFT. We have internal policies to detect and prevent identity theft. Pursuant to these policies, if we are concerned 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. In an effort to help protect you and us against identity theft, we will only accept payments made from cards that are in the name of the Account holder.
- 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.
- ABUSIVE BEHAVIOR. We reserve the right to cancel your account if you act in an inappropriate, abusive, or hostile manner. Profanity, threats, abusive behavior whether physical, verbal or otherwise, and violence are all prohibited.
- 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. We may elect to delete incomplete Accounts at any time. 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.
- DEFAULT. Your Account will be in default if you: (i) you do not make a payment when it is due; (ii) any payment you make is rejected, not paid or cannot be processed; (iii) you file or become the subject of a bankruptcy or insolvency proceeding; (iv) you are unable or unwilling to repay your obligations, including upon death or legally declared incapacity; (v) we determine that you made a false, incomplete or misleading statement to us, or you otherwise tried to defraud us; (vi) you provide false, inaccurate, or misleading information to us; (vii) you do not comply with any term of this Agreement; (viii) inconsistent shopping or repayment behavior; or (ix) anything else happens that causes us in our discretion to reasonably believe that your Account may not be repaid. Accounts in default will be frozen until the condition that caused the default is remedied. If your Account remains in default for ninety (90) days your Account may be terminated.
- 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.
- CREDIT REPORTING. We currently use information from Clarity, Inc. (“Clarity”), a specialty credit bureau, as part of our underwriting. If we used Clarity data to underwrite you for an Account after July 8, 2021 and you financed a purchase with us, we report your performance to Clarity. If we report, late payments, missed payments, or other defaults on your Account may be reflected in your credit report. As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.
- SPENDING LIMIT INCREASES. We may elect to raise your Spending Limit 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 Spending Limit amount in accordance with our ongoing underwriting policies.
- SPENDING LIMIT DECREASES; FREEZING YOUR ACOUNT. When we establish your Account we will tell you the amount of your Spending Limit for your Account. We may change these limits from time to time, including reducing your Spending Limit or freezing your access to your Spending Limit. We may elect to do either one of these in several instances including but not limited to the following: (i) if your Account goes into default; (ii) if we determine a decrease to your income or other change to your eligibility as a result of our ongoing verification of your information; or (iii) if we determine changes to your credit qualification based upon your shopping behavior or payment history. We continually review your shopping and payment activity, and we may freeze your account if we feel it’s necessary based upon our internal processes and underwriting policies, in order to encourage responsible buying behavior and allow you time to build positive repayment history with us. If this happens, new orders cannot be placed until existing orders are paid in full and your account is reviewed for future order placement. We will evaluate each purchase and we may take these actions at any time for any reason including changes in your credit qualification determined by our underwriting models which may include an assessment of the amount of your Spending Limit that you are using as well as whether the transactions exceed a velocity limit set for the Account and/or your Account spending and history with us.
- 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 email@example.com.
- 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.
- 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.
- 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 where you reside when you first establish an Account with Zebit, without regard to the conflict of law provisions thereof.
- 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 will impair such right or be construed to be a waiver of any breach of your obligations under this Agreement.
- 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 will be deemed your acceptance of any changes to this Agreement.