Vehicle owners may require a deposit from the driver using the Race Prime (“Site”) platform and its third-party providers, Plaid and Stripe, to secure the ride pursuant to the terms and conditions set forth between the owner and the driver. The Deposit amount is subtracted from the price accepted by the Owner and Driver and the balance is collected by the Owner outside the Race Prime Platform. The Deposit collected through Race Prime is not to be used as a Crash Damage deposit and Race Prime will not consider crash damage with regards to releasing the Deposit amount. Before leaving a deposit or during the “Cancellation Period” as set forth below, drivers are advised to secure the terms of the agreement directly with the Owner. The Deposit amount collected from the Driver shall be an amount equal to fifteen percent (15%) plus one percent (1%) transaction fee, of the price accepted by the Owner and Driver on the Site. For Example:
More than 20 days before the event, the Owner may request the online deposit from the Driver. Drivers will not be able to pay deposits online within 14 days of the Event. The online transaction is subject to cancellation by either Driver or Owner within 48 hours (“Cancellation Period”) after Driver pays the deposit online through the Site and its third-party providers. If the Driver paid the deposit with a credit card, then there will be an authorization hold for the deposit amount plus the transaction fee during the Cancellation Period. Driver will not be charged, but the hold means that Driver will not be able to access these funds until the hold is released to Driver if the reservation is cancelled during the Cancellation Period. For example, if you are paying with a credit card with a total credit limit of $5,000, and there is a deposit and transaction fee of $500, your credit limit would then be $4,500 until the hold is released. After the Cancellation Period, the deposit and transaction fee payment will be processed, and the deposit will be held in the general Race Prime account within Stripe. The deposit will be automatically released to the Owner’s Stripe account the day after the conclusion of the Event, unless Owner requests to cancel the reservation or Driver makes a claim for the deposit before the deposit is released to the Owner’s Stripe account. Once the deposit is released to the Owner’s Stripe account, there may be an additional processing time before Stripe deposits the funds in the Owner’s connected external bank account.
Before the deposit is released to the Owner, the Driver can file a claim for a full or partial refund of the Deposit if there is a justifiable reason to do so by selecting “File a Deposit Claim” and by sending an email to support@raceprime.com that refers to the particular ride and an explanation of your claim. If the Driver does not make a claim for a refund before the deposit is released, the Driver will not have the option to participate in a claims process through the Site, and the deposit will be released to the Owner. If we determine at our sole discretion that there is a justifiable reason to refund the full or partial deposit to the driver, then we will refund the deposit minus the transaction fee. Justifiable reasons include but are not limited to the Owner’s failure to arrive at the track with the vehicle as scheduled, no portion of the Event took place during the scheduled dates as reflected in the listing when the deposit was made, or the Owner agrees with the refund. Justifiable reason will not include how competitive the race vehicle was or poor race results. After the 48-hour “cancellation period” after a driver pays the deposit, an Owner may request to cancel a reservation, remove the “reserved” label on the ride thus make the ride available to other drivers, and claim the full or partial amount of the Deposit if there is a justifiable reason to do so by selecting “Request a Cancellation” and by sending an email to support@raceprime.com that refers to the particular ride and an explanation of your claim. At our sole discretion, we may decide that there is a justifiable reason to remove the “reserved” status on the ride and or release the full or partial deposit to the Owner. Justifiable reasons include but are not limited to Driver’s misrepresentation of licenses held and required for participation in the Event, or the Driver agrees with the requested outcome. We may grant the Owner the ability to remove the “reserved” label but return the deposit to the Driver. It is essential that each party respond quickly to any inquiries from Race Prime. In any case, we will attempt for the Driver and the Owner each to have had an opportunity to provide any clarifying details and documentation needed to reach a resolution. We reserve the right to apportion the deposit among the parties if we believe it is fair to do so. Most deposit claims are expected to be resolved within one week. Communication through email is required in order to collect needed documentation from Drivers and Owners, which may include photos and video (i.e. photographs of the vehicle at the track, etc.) along with other documentation. Driver and Vehicle Owner agree that whatever decision is rendered by Race Prime Corp is final and non-appealable and further agree to release Race Prime Corp for whatever decision and actions it takes with respect to the deposit.
| Date | Action |
|---|---|
| More than days before the event start date | Owners may request deposit from the Driver |
| 14 days before the event start date or later | Deposits may no longer be paid through the platform |
| Up to 48 hours after leaving a deposit | Either party may cancel a transaction and return the deposit to the Driver without incurring a transaction fee |
| The day after the event end date | Race Prime will automatically release deposit to Owner |
| Before deposit is released by Race Prime | Driver can make a claim for the deposit if there is a justifiable reason. Owner can request the cancelation of the reservation if there is a justifiable reason. |
There may be instances where a deposit using ACH payment is declined, or a credit card charge was disputed by the Driver. Race Prime may assist the parties (but with no obligation to do so) in collecting the funds. Race Prime has no responsibility as to any funds that Stripe decides will not be made available, but Race Prime will assist the parties in communicating with Stripe to resolve the issue. Race Prime reserves the right to suspend an account or prohibit any driver or owner from using the platform for any reason including but not limited to if a request for a refunds is done to the detriment of Race Prime (i.e. having to pay from Race Prime’s funds) or done without good reason as determined solely by Race Prime.
THE ACTUAL CONTRACT TO RENT THE VEHICLE OR TO OTHERWISE DRIVE THE VEHICLE IS DIRECTLY BETWEEN THE DRIVER AND THE VEHICLE OWNER. RACE PRIME MAKES NO REPRESENTATION OR WARRANTY ON THE ACCURACY OF THE INFORMATION BEING PUBLISHED BY OWNERS OR DRIVERS (“USERS”) ON THE SITE OR OTHERWISE, AND USERS SPECIFICALLY AGREE TO CONDUCT THEIR OWN INVESTIGATIONS OF THE SERVICES, LISTINGS, VEHICLES, EVENTS, TRACKS, OR DRIVERS TO THE TRANSACTION. WHILE WE MAY HELP FACILITATE THE PAYMENT OF FEES TO THE PARTIES AND THE RESOLUTION OF DISPUTES, RACE PRIME HAS NO CONTROL OVER AND DOES NOT GUARANTEE: THE EXISTENCE, QUALITY, SAFETY OR LEGALITY OF SERVICES, LISTINGS, VEHICLES, EVENTS, TRACKS OR DRIVERS; THE TRUTH OR ACCURACY OF USERS' PROFILE OR LISTINGS; THE ABILITY OF VEHICLE OWNERS TO PROVIDE WHAT WAS PUBLISHED OR PROMISED; THE ABILITY OF USERS TO PAY FOR SERVICES; OR THAT A DRIVER OR OWNER WILL ACTUALLY COMPETE IN AN EVENT. IF YOU HAVE A DISPUTE WITH ONE OR MORE USERS, YOU RELEASE US (AND OUR AFFILIATES AND SUBSIDIARIES, AND OUR AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS) FROM CLAIMS, DEMANDS AND DAMAGES (ACTUAL AND CONSEQUENTIAL) OF EVERY KIND AND NATURE, KNOWN AND UNKNOWN, ARISING OUT OF OR IN ANY WAY CONNECTED WITH SUCH DISPUTES. IN ENTERING INTO THIS RELEASE YOU EXPRESSLY WAIVE ANY PROTECTIONS (WHETHER STATUTORY OR OTHERWISE) THAT WOULD OTHERWISE LIMIT THE COVERAGE OF THIS RELEASE TO INCLUDE ONLY THOSE CLAIMS WHICH YOU MAY KNOW OR SUSPECT TO EXIST IN YOUR FAVOR AT THE TIME OF AGREEING TO THIS RELEASE.
Any Offer made by a Driver using our platform is an offer to an Owner, not to Race Prime. Any acceptance of an offer is by an owner, and not by Race Prime. Race Prime uses the final amount of the offer or counteroffer accepted by the parties in determining the Deposit amount plus platform transaction fee. When a ride is reserved, it does not create any legal binding agreement between the User and Race Prime. The word “Apply” or “Application” is used to notify Drivers and Owners that a driver is interested in securing a particular ride and that further action may be required by and among the parties to this transaction and further to notify other users that this particular ride may no longer be available. A listing is marked as “reserved” when the ride owner approves the application of a driver. A ride may have multiple offers and still be listed as available (not marked “reserved”) if the Owner has not approved the application of a driver. Once an Owner accepts the application of a Driver, all other applications are automatically rejected and the ride is shown as “Reserved” on the listing. If an owner opted to collect deposits outside of Race Prime, then the owner still must accept the application of a driver so that it shows as “Reserved” to other drivers. If a Driver or Owner cancels a reservation on a ride that did not require a deposit, the “Reserved” status will be removed and the ride will be available again to other applications. Race Prime reserves the right to suspend or cancel the membership of any user that cancels a reservation without just cause at Race Prime’s sole discretion.
RACE PRIME CORP MAKES NO GUARANTEE, WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, AS TO THE QUALITY, FITNESS, SAFETY, EFFICIENCY, ROADABILITY OR RACEABILITY OF ANY OF THE RACE VEHICLES BEING OFFERED ON THE SITE.
USERS ARE FULLY AWARE OF THE RISKS AND HAZARDS INHERENT IN THE VEHICLE RACING BUSINESS AND IN DRIVER’S PARTICIPATION IN THE ACTIVITIES. ACCORDINGLY, FOR GOOD AND VALUABLE CONSIDERATION, USERS ELECT TO VOLUNTARILY PERFORM AND PARTICIPATE IN SAID ACTIVITIES, AND TO ASSUME ALL RISKS OF LOSS, DAMAGE, AND INJURY, INCLUDING DEATH, THAT MAY BE SUSTAINED BY DRIVER. USERS HEREBY RELEASE, DISCHARGE, AND HOLD HARMLESS RACE PRIME CORP, THEIR AGENTS, SUCCESSORS AND ASSIGNS, AND THEIR PARENT AND SUBSIDIARY CORPORATIONS AND ENTITIES, TOGETHER WITH ALL THEIR OFFICERS, EMPLOYEES, DIRECTORS, SHAREHOLDERS, MEMBERS, AND PARTNERS (HEREINAFTER ALL SUCH ENTITIES AND PERSONS SHALL BE COLLECTIVELY REFERRED TO AS THE “RELEASED PARTIES”), FROM ANY AND ALL CLAIMS, DEMANDS, LAWSUITS, ACTIONS, CAUSES OF ACTION, LITIGATIONS AND/OR LIABILITIES ARISING OUT OF OR IN ANY WAY RELATED TO ANY LOSS, DAMAGE (PERSONAL, PROPERTY OR OTHERWISE), OR PERSONAL INJURY, INCLUDING DEATH, THAT MAY BE SUSTAINED BY USERS WHILE IN ANY WAY PERFORMING, PARTICIPATING OR PREPARING TO PARTICIPATE IN OR IN CONNECTION WITH THE ACTIVITIES BEING OFFERED ON THE SITE. USERS EXPRESSLY ACKNOWLEDGE, ACCEPT, AND AGREE TO BE BOUND BY ALL OF THE FOREGOING PROVISIONS SET FORTH IN THIS PARAGRAPH.
THE FOREGOING RELEASE AND INDEMNIFICATION SHALL BE BINDING UPON USER’S SPOUSE, HEIRS, NEXT OF KIN, DISTRIBUTEES, EXECUTORS, ADMINISTRATORS, AND THEIR ASSIGNS.
USERS HAVE READ THIS RELEASE AND WAIVER OF LIABILITY, ASSUMPTION OF RISK AND INDEMNITY, FULLY UNDERSTAND ITS TERMS, AND VOLUNTARILY AGREE TO BE BOUND WITHOUT ANY INDUCEMENT, ASSURANCE, OR GUARANTEE BEING MADE TO USER.
Effective as of November 27, 2021
Version 11-27-21-1