Terms and Conditions Terms and Conditions

IMPORTANT: PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THE WEBSITE, MOBILE APPLICATIONS, AND/OR ANY OTHER PART AND/OR EXTENSION OF THE PLATFORM, OWNED BY KAVAK

The present document contains the general terms and conditions applicable to the access and/or use of the Services offered by DARIS INTERNATIONAL LLC DUBAI BRANCH (hereinafter KAVAK), through the website www.kavak.com (hereinafter the "Website"); and/or in the applications for mobile devices owned by KAVAK (hereinafter the "Mobile Application" or the "Mobile Applications"); and/or any other part and/or extension of the Platform; and/or personally and in person at any of its Authorized Centers and/or Exhibition Centers or Showrooms.

Any person who wishes to access or who accesses, through any means authorized by KAVAK, the services in general offered by KAVAK, described in these Terms and Conditions (the "Services"), or who wishes to access and/or make use of the Website; and/or access and/or use the Mobile Applications; and/or access and/or use any other means authorized for such purposes by KAVAK (collectively referred to, for the purposes of these Terms and Conditions, as the "KAVAK Platform" or the "Platform"), shall be subject to the Terms and Conditions together with all other policies and principles governing KAVAK which are incorporated herein by reference.

In the event that a user does not wish to be bound by these Terms and Conditions, he/she must refrain from accessing and/or using the KAVAK Platform, as well as from accessing or attempting to access, through the Platform and/or any means authorized by KAVAK, the Services offered by KAVAK.

GENERAL TERMS AND CONDITIONS OF ACCESS AND/OR USE OF THE SERVICES OFFERED BY KAVAK TO ITS CUSTOMERS, THROUGH THE KAVAK PLATFORM, AND/OR IN PERSON AT ITS AUTHORIZED CENTERS.

The general Terms and Conditions of access and/or use of the Services offered by KAVAK to its Customers, through the Website, and/or the Mobile Applications, and/or any other part and/or extension of the Platform; and/or personally and in person at any of its Authorized Centers and/or Exhibition Centers or Showrooms, published on the Platform; (hereinafter, the "Terms and Conditions"), are binding between You (the "Lessee", the "Licensor", the "Customer", the "User", and/or the "Vendor") and KAVAK (collectively, referred to as the "Parties"), therefore, they constitute a complete agreement between the Parties for the use of the Website, and/or the Mobile Applications, and/or any other extension of the KAVAK Platform, including the provision of the services that KAVAK makes available through the KAVAK Platform and/or in any other manner in which KAVAK authorizes or makes them available.

1. DEFINITIONS

For the purposes of clarity, the words or terms set out below shall have the meanings ascribed to them and shall apply to: i) these Terms and Conditions, ii) the Agreement entered into, subsequent to the acceptance of the Terms and Conditions, between the User and KAVAK in respect of the Services; and iii) any other agreement, annex, addendum, covenant, contract and/or document ancillary to the Agreement, entered into between the User and KAVAK.

"Debt": Refers to the expenses and/or pending payments, which fall on the Vehicle, as a result of being or having been registered before any competent public institution, and/or as a consequence of any outstanding traffic fines. A Debt may be, but not limited to: payment of a fine, traffic infraction, payment of vehicle ownership, payment of vehicle verification, among others.

"Paying Agent": Any third party used by KAVAK, to collect payments from the Customer in connection with the Services that the latter requires to contract with KAVAK.

"Mobile Application": means the application or applications for mobile devices, owned by KAVAK, through which the User accesses the KAVAK Services.

Reservation Terms and Conditions

1. Reservation Fee: Upon reserving a vehicle on Kavak platform, the Buyer agrees to pay a reservation fee. This fee secures the vehicle for a period of seven (7) days and is required to proceed with the reservation.

2. Non-Refundable Fee: The reservation fee is non-refundable. Once paid, this fee is retained by Kavak to cover the administrative and operational costs of securing the vehicle for the Buyer. The Buyer acknowledges that this fee will not be refunded under any circumstances, including but not limited to cancellation of the reservation by the Buyer or in the event of financing rejection. By accepting these Terms and Conditions, the Buyer irrevocably waives any and all rights, claims or interests in the Reservation Fee, and further acknowledges and agrees that the Reservation Fee, once paid, shall become the sole and exclusive property of Kavak without any right of reclamation by the Buyer. The Buyer fully discharges and releases Kavak from any and all rights, demands, complaints, claims, lawsuits, actions, liabilities and/or obligations arising out of or relating to the Reservation Fee.

3. Reservation Period: Upon payment of the reservation fee, Kavak will reserve the vehicle exclusively for the Buyer for a period of seven (7) days. During this period, the vehicle will be marked as “reserved” and will not be available to other potential buyers.

4. Expiration of Reservation: If the Buyer does not proceed with the purchase or fails to complete the required transaction within the seven-day reservation period, the reservation will automatically expire, and the vehicle will be made available again on Kavak platform for other customers.

"Prices":The prices displayed by KAVAK for each Vehicle, whether through the KAVAK Platform or the technical data sheet corresponding to each Vehicle, may appear with separators such as periods, commas, or no separators, depending on the configuration of the device used to access this information. Prices are subject to change based on market conditions or economic factors, and such changes shall not affect KAVAK's obligations. Final pricing shall be confirmed by KAVAK after the necessary inspections in the case of a Vehicle Sale or after a Reservation in the case of a Purchase, and shall be stipulated in the corresponding Contract. Accordingly, any quotations provided through the KAVAK Platform, or any related extensions, for the Purchase, Sale, or any other Service offered by KAVAK, are subject to modification based on market fluctuations, the condition of the Vehicle, or adjustments made by KAVAK to the pricing. In all cases, the Parties shall formalize their transaction, whether it is a Purchase, Sale, Lease, Installment Sale with interest and reservation of title, or acquisition of any other Service, through the execution of a formal Contract.

"Mechanical, Electrical and/or Electronic Breakdown": Mechanical, electrical and/or electronic breakdown means the total or partial breakdown, due to breakage or unforeseen or fortuitous degradation of the Warranted Part(s) in these Terms and Conditions, literally, previously certified by KAVAK, which has guaranteed their perfect condition. In no case, the decrease in performance or breakage of any component of the KAVAK Auto caused by natural wear and tear due to time of use and/or mileage, as appropriate, will be considered breakdown in any form: mechanical, electrical and/or electronic.

"Privacy Notice" or "Privacy Policy": Refers to the Privacy Policies of KAVAK, regarding the collection, use, storage, processing, transfer and Protection of Personal Data and/or Sensitive Personal Data, in terms of the Federal Decree-Law No. 45 of 2021 on the Protection of Personal Data, which KAVAK makes available to its Customers through its Platform www.kavak.com and/or by clicking on the following link https://www.kavak.com/politicas-de-privacidad.

"KAVAK Service Card": A booklet given with the Vehicle containing the record of periodic maintenance services to which the purchaser is obliged to perform under the Extended Warranty Service.

"Authorized Center": The place(s) authorized by KAVAK, as mentioned and detailed in the Platform, where the Vehicles are repaired, serviced mechanically and cosmetically and stored; it also includes the Exhibition Centers or Showrooms.

"Exhibition Center" or "Showroom": The place(s) authorized by KAVAK and detailed in the Platform, where the Vehicles are exhibited, and the Services are carried out personally and in person by KAVAK personnel.

"QR Code": The quick response code corresponding to each Vehicle, displayed in the Technical Data Sheet; each QR contains coded information and it is represented by a matrix of dots or a two-dimensional bar code, which when read by means of a smartphone or a device that has a QR code reading tool, allows the Customer or the User to verify the information related to the Vehicle, including the Sale Price or Total Price of the Vehicle as well as the mileage of the Vehicle.

"Purchase": The acquisition of ownership of a Vehicle, either by KAVAK; by a Customer; or by a Third Party.

"Buyer": Means any person who reserves a Vehicle or expresses the intention to purchase the Vehicle to KAVAK through the Platform, any Exhibition Center or Showroom or any other means authorized by KAVAK.

"Contract": Means the Contract which, subsequent to the acceptance of the Terms and Conditions, has been entered into between the Customer and KAVAK, which may be, depending on the nature of the negotiation, but not limited to, a same-day used vehicle purchase and sale contract, a used vehicle part-exchange purchase and sale contract, installment (with interest) and with reservation of title purchase and sale contract, a used vehicle lease contract or a Kavak Total maintenance services contract; likewise, any agreement, annex, addendum, agreement, contract and/or document that forms an integral part of the Contract, and that is so specified in its content, is included as part of the Contract.

"Parent or subsidiary": Any legal entity (other than the Lessor) that directly controls or has the power to determine the decisions of the Lessor, as well as those legal entities controlled by the same person or group of persons that are majority shareholders of the Lessor or together hold the majority of the Lessor's shares.

"Cleaning Fee": The fee that shall be applied to Renter, in the event that he/she returns the Vehicle with objects inside it, stains on upholstery, carpets, ceiling, windows and/or seats.

"Client": A person who wishes to acquire rights and obligations with KAVAK, who may be in his capacity as Lessee, Buyer (including through part exchange), and/or Seller, in connection with the Services offered by KAVAK.

"Telematics Data": Means data obtained through GPS Systems that may refer to location, speed, idle times, acceleration or hard braking, fuel consumption, failures in the Vehicle and any other derived from the condition, use, and operation of the Vehicle.

"Pre-existing Defect": Any damage and/or functional, mechanical and/or cosmetic defect that the Vehicle presents, not attributable to KAVAK and that is determined in the Inspection and/or Post-Inspection.

"Vehicle Documentation": Means the set of documents that identify the Vehicle and that at the same time, justify that its provenance and registration are legal. The Vehicle Documentation includes, but is not limited to, the Vehicle Invoice, the Vehicle Tenure Payments, the Vehicle Registration Card, proof of vehicle verification, stickers, proof of payment of fines and/or surcharges, proof of registration in the Roads and Transport Authority, accreditation of characteristics and identifications, among others.

"Delivery/Deliver": Means the act of delivering the Vehicle, either by KAVAK to the Customer or by the Customer to KAVAK, depending on the type of transaction. In the case of home delivery, the same shall be subject to the Coverage Area and other related provisions set forth in the Terms and Conditions.

Delivery in cases of installment sales (with interest) and reservation of title must be made at one of KAVAK's branches, and may not be delivered to the Customer's home.

"Diagnostic Stage": Means the period of time necessary for KAVAK technical personnel to perform an inspection and diagnosis test of a Vehicle.

"Offer Phase": Means the moment when the User/Seller/Exchanger submits the Vehicle information to KAVAK through the Platform, with the intention of obtaining any possible offers related to the Vehicle from KAVAK.

"TDS Technical Data Sheet": The information sheet displayed on the Vehicle, detailing various characteristics of the Vehicle, including, but not limited to: the make, model, style, year, mileage, engine, horsepower, traction, transmission, VIN or serial number, license plate number, Stock ID or Stock number, Sale Price or Total Price of the Vehicle and the corresponding QR Code.

"Satisfaction Guarantee": Means the return guarantee, included with the purchase of any Vehicle which has been purchased from KAVAK, whereby the Purchaser shall be entitled to a Return Period of 7 (seven) days or 300 km (three hundred kilometers), whichever occurs first.

"3 (three) month warranty" or "Limited Warranty": This is the limited warranty included with the purchase of any Vehicle that has been purchased from KAVAK. Its coverage includes, as mentioned in our warranty contract, which includes hereinafter but not limited to the following: mechanical, electrical and/or electronic breakdown. This warranty is subject to a period of: (i) 3 (three) months from the date of delivery of the Vehicle; and/or (ii) a maximum of 5,000 km (five thousand kilometers), whichever comes first.

"Additional Expenses": Are the extra expenses resulting as a consequence of any Repair due to Pre-existing Defect and/or Payment of Lien and/or Debt, which may be quoted during the Inspection and/or Post-Inspection of the Vehicle.

"Inherent expenses and taxes": Expenses and taxes inherent to the Lease of the Vehicle shall be understood as those expenses in which the Renter may incur due to carelessness or non-compliance with the obligations acquired, such as fines for speeding, invading reserved areas, parking in prohibited places, using the Vehicle on days excluded in the program, and expenses caused by having the Vehicle towed, among others.

"Lien": Means any mortgage, guaranty trust, pledge, surety bond, limitation of ownership, including any action or proceeding for extinguishment of ownership as provided in the Extinguishment of Ownership Law, attachment, levy, lien, bond, easement, usufruct (established by operation of law or otherwise), attachment or sequestration order, or other similar order, preemptive rights, ROFR rights, options) or any other encumbrance of any nature, whether unilateral, bilateral or by law.

"GPS and Monitoring Systems": Means the device that will be installed in the Vehicle to collect telematics data, such as but not limited to: distance traveled in kilometers or miles, fuel used, and errors reported by the Vehicle's computer. The device provides the Customer with useful information about the Vehicle and its use.

"Inspection": Means the investigation, inspection, and review of the Vehicle by KAVAK personnel, which shall include not only the review of the overall condition of the Vehicle but also the verification of its mechanical condition; the investigation of the Vehicle before the competent authorities; the verification of the status of all paperwork, permits, licenses and/or any other authorization required by the Vehicle for its circulation and finally, a test drive.

"Kavak Capital". Meansthe internal area of KAVAK that reviews, manages and authorizes the Installment Sale with interest and reservation of title of Used Vehicles.

"Kavak Total": Means the optional service that the Customer may opt for before the expiration of the 3 (three) month Warranty. The Maintenance Service offered by Kavak Total is subject to (i) a period of up to 12 (twelve) months and/or (ii) a maximum of up to 20,000 km (twenty thousand kilometers), whichever comes first.

"Maintenance Services Manual": The internal KAVAK manual in which the coverage of the maintenance services performed by KAVAK is detailed, with specifications of all mechanical, electrical and accessory parts of a car sold by KAVAK. This only applies to vehicles with Maintenance Services additionally contracted by the Client and which are valid.

"Owner's Manual": The manual that forms part of the documentation of the Vehicle itself, if available.

"Profit Margin" Means the fixed margin in United Arab Emirates Dirhams (AED), to be charged by KAVAK and reported in writing to the Seller, for its Service when selling the Vehicle.

"Maximum Amount Covered by the Limited Warranty Service": Means the maximum amount of AED 4,677 (four thousand, six hundred and seventy-seven dirhams) per event in question, without ever exceeding the amount of AED 9,354 (nine thousand, three hundred and fifty-four dirhams).

"Maximum Amount Covered by the Total Kavak Service": Means the amount of AED 18,713 (eighteen thousand, seven hundred and thirteen dirhams) for the total number of events occurring in the 12-month period.

"VIN": Vehicle Identification Number, which is the number that identifies and makes each Automobile or Vehicle unique.

"Pre-Inspection Offer": Based on the Initial Offer price issued by KAVAK.

"Post-inspection offer": The offer given to the Customer after the inspection of his/her Vehicle for purchase, sale, part-exchange etc. has been performed.

"Grantor": The banking and/or financial institution and/or Kavak Capital, which may grant the Installment Sale with interest of Used Vehicles to KAVAK Customers.

"Payment of Lien and/or Debt": The Additional Expense necessary to make the payment and/or process required to release the Vehicle from any lien and/or debt of any nature that may apply to it.

"Parties": The joint reference to KAVAK and the User/Customer/Buyer/Seller/Lessee/Purchaser.

"Return Period": The maximum time of 7 (seven) calendar days, counted from the Delivery of the Vehicle by KAVAK, in which the Customer may return the Vehicle or the maximum of 300 km (three hundred kilometers) traveled, counted from the time KAVAK delivers the Vehicle to the Customer, whichever occurs first. It only applies to the Satisfaction Guarantee.

"Trade In: KAVAK may accept a Vehicle if the User of that vehicle wishes to purchase another Vehicle from KAVAK, and the Parties shall be obliged to pay the difference, as appropriate.

"Dirhams", or "AED": Refersto United Arab Emirates Dirhams, lawful currency in the United Arab Emirates (UAE).

"Warranted Parts" (Coverage): Includes damages or main failures of the engine, transmission, brake system and air conditioning, as well as failures that prevent the correct use of the vehicle; provided these have not been caused by the Client, such as:

A. Powertrain. - Includes in a limited way:

Engine: Monoblock, cylinder liners, connecting rods, pistons, rings, bolts, bolt locks, crankshaft, engine bearings, damper pulley, head(s), valves, valve guides, springs, tappets, pushrods, camshaft(s), timing servo motors (timing chain cars only), oil pump, throttle body/throttle, fuel pressure regulator, fuel float, fuel pump (high, low pressure), idle speed control valve, MAF sensor, MAP sensor, injectors, ignition coils, radiator, coolant level sensor, radiator heater sensor, oil cooler, water pump, thermostat, water intake valve , blower(s), fan clutch, heater radiator, PCM/ECM (only in case of sporadic malfunction, subject to diagnosis), turbocharger, turbo compressor, intercooler, turbo wastegate actuator.

Transmission: hydrostatic torque converter, valve body, TCM, oil pump, transmission oil cooler, selectors/bearings, drive shafts, gears, sprockets, selector forks, primary component/fixed gear, bearings/bearings, synchronizers, odometer.

Shafts: axle shafts and CV joints, seals and gaskets, cardan shafts, cardan bearings.

Differential: ring gear, drive pinion, planetary, satellites, rear differential output side shafts, reduction gear.

B. Chassis. - Includes on a limited basis:

Steering: steering box (including internal components), hydraulic pump (including steering fluid reservoir), steering column, tie rods.

Suspension: stabilizer bar, springs.

Brakes: ABS module, pressure accumulator, brake pump, electric vacuum pump, brake regulator, brake servo, calipers, brake fluid reservoir, master cylinder, wheel cylinder.

C. Air Conditioning. - Includes on a limited basis:

Air conditioning control module, air compressor, condenser, evaporator, rear defroster, heated/cooled seats, heated steering wheel, motor heater, dehydrator, expansion valve.

D. Electrical System. - Includes on a limited basis:

Windshield lift motor(s), headlight wiper, front and rear windshield wiper motor, lock actuators, voltage regulator, alternator, gear, ignition switch (push button type, key type), sunroof, sun blinds, start/stop system, horn, 12V plugs.

"Post-Inspection": Means the second part of the review of the Vehicle, after the Inspection, with the purpose of identifying possible Pre-existing Defects, and/or Liens and/or Debts, that may be applicable to the Vehicle.

"Platform" or "KAVAK Platform": The name, collectively, for the Website and the Mobile Application or Mobile Applications, as well as any other related sites or applications, which are operated and administered by KAVAK; the Platform is the electronic means through which KAVAK offers its Services to Clients and/or Users, and in turn allows, through it, the latter to access, use or consent to the Services offered by KAVAK.

"Price": Means the joint designation for the Base Price, the Determined Price, the Sale Price or the Total Price of the Vehicle.

"Base Price": Price defined on the day of the inspection, which may be modified in accordance with the Parties.

"Determined Price": The price that is modified in accordance with the adjustments made to the Base Price.

"Initial Offer Price": This is the price determined in the first instance by the KAVAK Application, which gives a reference price or may also be sent to the User, which is valid for 7 (seven) days from the time the Customer and/or User receives the message.

"Selling Price" or "Total Vehicle Price": Means the price at which the Vehicle will be offered through KAVAK's Service and/or system. The price consists of the Determined Price plus KAVAK's Profit Margin.

"Promotion Price": The final price that includes the discount corresponding to a certain promotion, in accordance with the terms and conditions that regulate the same, the amount indicated on the Website for each Vehicle that is part of the promotion will always prevail. Any Kavak promotion can only be used once by the same customer who has already benefited from a previous promotion.

"Advertising": Any form of communication made by KAVAK, as a referral mechanism and not as a public offering, for the purpose of providing information about its products and/or its business activities; as well as for the purpose of communicating its own advertising or marketing strategies or campaigns.

"Supplier": Any individual or legal entity that provides services to KAVAK.

"Removal/Removed/Remove": Means the process undertaken by KAVAK to obtain possession of the Vehicle in order to i) obtain ownership of the Vehicle, and/or ii) to store the Vehicle for any other reason.

"Reservation": The act of putting the Vehicle on hold with the intention of making the Purchase of the same through the payment of a security deposit; the Reservation may be made by any User or Customer, through the KAVAK Platform or in any of the Exhibition Centers or Showroom. The Reservation includes the payment of the Reservation Fee.

"Contingent Repair": Shall mean any repair not listed in the "Owner's Manual" or in the Kavak Total Maintenance Service Manual or in the Vehicle's service booklet, as well as any damage or impairment to the Vehicle caused by the Renter that the Lessor is required to perform.

"Breakdown Repair": Means those activities necessary for the repair of the mechanical, electrical and/or electronic breakdown in question, including the period required for the Diagnostic Stage and the repair time which is subject to the availability of parts and components in the market.

"Minor Repairs": Means all those minor repairs that will be covered within the warranties or coverages as determined by KAVAK on a case-by-case basis.

"Repair of Pre-existing Defects": Refers to the repairs and/or work necessary to repair and/or fix any Pre-existing Defects.

"Inspection Report": The report detailing all the results obtained with respect to the vehicle during the inspection.

"Post-Inspection Report": The report detailing all the results obtained with respect to the vehicle during the Post-Inspection.

"Website": the www.kavak.com website owned by KAVAK.

"Insurance": The insurance of the vehicle contracted by the Client, through KAVAK or on its own account or on behalf of KAVAK. Where applicable, the Client expressly authorizes KAVAK to receive payments on behalf of the insurer and to be charged accordingly.

"Services": Means all the services offered by KAVAK, mentioned but not limited to the Purchase, Sale, Lease and/or Sale with interest with reservation of title of used Vehicles, which KAVAK offers to its Clients through the KAVAK Platform; which can also be accessed personally and in person, in any of the Authorized Centers and/or Exhibition Centers or Showrooms published and authorized by KAVAK in the Platform.

"KAVAK Preventive and Corrective Maintenance Service": These are all service actions recommended and performed by KAVAK to ensure the correct maintenance of the Vehicle for Customers who have the Total Kavak Service or at the request of the Customer/ owner of a KAVAK Vehicle. In the case of Total Kavak Service, these service actions must be performed during the period of coverage duly documented in the KAVAK Service Card.

The Maintenance Service may be requested by the Client at a later date upon payment to KAVAK, which may be requested either on our mobile application or by any other means of contact.

"Stock ID" or "Stock #" or "Stock Number": The inventory number that identifies each Vehicle owned by KAVAK.

"Terms and Conditions": Means the present document, which sets forth the general terms and conditions of access and/or use of the Services and/or products offered by KAVAK to its Customers through the Website and/or the Mobile Applications and/or any other extension of its Platform and/or personally and in person at any of its Authorized Centers and/or at any of its Exhibition Centers or Showrooms and/or at the home of its Customers.

"User": A person who wishes to acquire rights and obligations with KAVAK, which may be as a Lessee, Part exchanger, Buyer, and/or Seller, in connection with the Services offered by KAVAK.

"Vehicle/Car/Auto/Automobile": The used automotive Vehicle, of national or foreign origin, destined for the land transportation of persons and/or goods, that KAVAK offers to the User so that the User acquires the ownership of the same or leases it, in accordance with what is established in the corresponding Contract; or that the User, being the owner of the Vehicle, offers to KAVAK to purchase it.

"Sale": The action of selling a Vehicle and thereby transferring ownership of the Vehicle to the purchaser; whether the Purchase is made by a Customer or User or KAVAK or an interested third party.

Installment Sale with Interest": Means the Installment Sale and Purchase Agreement with interest and reservation of title for the purchase of a used Vehicle.

"Coverage Area" or "KAVAK Coverage Area": Refers to the specific area in which KAVAK provides its Home Delivery Service, which encompasses a limited area around KAVAK premises, except for those areas or neighborhoods where for security reasons for both Parties, KAVAK reserves the right to provide Home Delivery Service, and which KAVAK will communicate to the Client or User.

1. STATEMENTS

I. The User Declares:

a. That he/she is over 21 (twenty-one) years of age, and that he/she has the full legal capacity to: i) accept and bind him/herself, in accordance with these Terms and Conditions; ii) make use of the Platform; and iii) have sufficient and legitimate economic means to meet the obligations assumed;

b. That at the time of creating his/her User profile and/or make use of the Website, and/or Mobile Applications, and/or any other extension of the KAVAK Platform, and/or require KAVAK Services through the KAVAK Platform or any other means, formally and expressly states, accepts and acknowledges the Terms and Conditions;

c. That he/she declares under oath that all information provided to KAVAK through the KAVAK Platform is true, verifiable and is his/her property or has sufficient power to grant the same, accepting liability to KAVAK for any damages that such information may cause to KAVAK or its customers, and releasing KAVAK from any liability that arises or may arise therefrom;

d. That he/she agrees and authorizes the verification of the information provided to KAVAK through the KAVAK Platform, whether the verification is performed by KAVAK or by any third party that KAVAK may designate for such purposes;

e. That he/she declares, under oath, that KAVAK has made its Privacy Notice available to him/her through its Web Site or in printed format, and that he/she agrees to the treatment thereof.

f. That, in case of representing a legal entity, he/she declares that he/she has the necessary legal power to act on behalf of the aforesaid entity in accordance with these Terms and Conditions and/or the Services he/she requests in the name of and on its behalf; and

g. That he/she is interested in contracting KAVAK's Services, which are detailed in this document, in the Definitions section.

II. KAVAK states:

a. That it has sufficient legal and economic capacity to provide the services it offers to its clients;

b. That it owns the Website, the Mobile Applications and any extension or part of the KAVAK Platform; and

c. That it may verify at any time, by itself or by third parties, the information provided by the User, and in the event that the information provided by the User is false or inaccurate, it may deny access to the KAVAK Platform and delete the User's account, at its sole discretion, deleting any content related to the User.

d. That it has made the Global Privacy Notice available to Users or Customers through its Web Site or in printed format.

2. OBJECT OF THE TERMS AND CONDITIONS

KAVAK is a company that provides Services and facilitates to its Clients or Users, mainly, the Purchase, Sale, Lease and Installment Sale with interest with reservation of title of used Vehicles, electronically, through the KAVAK Platform; and/or personally and in person in any of its Authorized Centers, and/or in any of its Exhibition Centers or Showrooms.

The purpose of these Terms and Conditions is to establish the basis on which KAVAK provides Services to its Clients, digitally or electronically, through its Platform; or in person, in the Exhibition Centers or Showrooms; as well as to delimit the conditions under which the Client or User may make use of the Website, and/or the Mobile Applications, and/or any other extension of the KAVAK Platform, in accordance with what is expressly established in these Terms and Conditions and in the Contract.

3. OF THE KAVAK PLATFORM

The KAVAK Platform is the electronic means of commerce, through which KAVAK offers a range of Services to its Customers and/or Users, mainly those related to the Purchase, Sale, Lease and Sale on installments with interest and reservation of title of pre-owned or used Vehicles.

In turn, the Platform allows, through it, Clients or Users to access; and/or make use of the Services; and/or express their desire to access these, and also use technological tools that allow online and virtual communication between KAVAK and Clients, mentioning, but not limited to: conversations or chats, and ®, or through other applications, systems and/or messaging platforms and video calls, owned by third parties such as Facebook®, Google®, among others.

1. Property of the Platform.

The Website, the Mobile Applications, and any other extension of the KAVAK Platform, as well as any domain or subdomain to which the User has access to and which is part of KAVAK, including without limitation all content, text, video, audio, data and other digital information, are the property of KAVAK, its affiliates and/or subsidiaries, and/or its customers or content providers, and are protected by the Federal Decree-Law No. 38 of 2021 on copyrights and neighboring rights, Federal Law No. 11 of 2021 concerning the regulation and protection of Industrial Property Rights, as well as any other applicable Intellectual Property Law.

KAVAK is responsible for the information and content of the Platform, and in turn, for its operation and maintenance. KAVAK has created its Platform for the operation and development of the commercial activities of KAVAK through technology; to inform the User about the details of any type of commercial or promotional activity of KAVAK services; finally, to provide the Services offered by KAVAK and allow User interaction.

KAVAK provides to Users the Services described in the definitions, which may include certain warranties and restrictions that are contained in these Terms and Conditions, as well as in the Contract and/or the Documents; consequently, KAVAK's liability is limited to the afore mentioned information. In this regard, KAVAK provides its Services through the Platform. For clarity purposes, the User is solely responsible for the information and offer of sale of his/her vehicle through the KAVAK Platform, as well as the general conditions expressed at the time of making use of the Website, Mobile Applications, and any other extension of the KAVAK Platform.

KAVAK will allow the User to enter the Platform, and make use of the same, in accordance with the provisions of these Terms and Conditions. The Services are only available to Users within the United Arab Emirates. Therefore, the User will use the Website, Mobile Applications, and any other extension of the Platform, only for information and to request KAVAK Services. Therefore, the User understands that the Platform may not be used for any purpose other than those mentioned and detailed in these Terms and Conditions.

The User expressly agrees that the use of the KAVAK Platform shall be at the User's own risk and expense, and that the nature of these Terms and Conditions shall be solely and exclusively of a civil nature. Notwithstanding the foregoing, the quotations made through the Platform, with respect to any Vehicle, are for information purposes for the User and do not constitute an agreement between the Parties regarding the Sale Price of the Vehicle, or the Total Price of the Vehicle.

The Prices displayed by KAVAK for each Vehicle, either through the Platform, or in the Technical Data Sheet corresponding to each Vehicle, may be separated by periods, commas, or without separation by signs; likewise, the display of the Prices through the KAVAK Platform, and/or the QR Code corresponding to each Vehicle, depends on the configuration of each equipment or device from which the information is accessed; the Prices may undergo variations, as a result of changes in market conditions or the economy, without prejudice to KAVAK. To this effect, such Price will be confirmed by KAVAK upon completion of the necessary inspections in the case of a Sale of a Vehicle or after a Reservation has been made in the case of a Purchase. Such Price will be stipulated in the corresponding Contract. In such virtue, the quotations sent through the KAVAK Platform, or any of its extensions, for the Purchase, the Sale or any other Service offered by KAVAK, may undergo modifications depending on economic variables in the market or the state of the Vehicle or the Prices established by KAVAK. In any case, the Parties must formalize their relationship for the Purchase, Sale, Lease, Installment Sale with interest and reservation of title of a Vehicle, or the acquisition of any other Service, through the execution of a Contract.

2. Platform Content

All content that is published, displayed and/or integrated into the KAVAK Platform visible or not, stating but not limited to text, graphics, trademarks, slogans, names, photographs, advertisements, advertising, formats, software (source code / object code), and other works and intellectual property assets, are the exclusive property of KAVAK, its affiliates and/or subsidiaries, and/or its customers or content providers. KAVAK states that it has obtained the necessary permission to use the content facilitated by its customers and content providers.

1. Links

For purposes of quality of experience offered through the Platform, KAVAK may allow one or more links to other websites and/or mobile applications. The Internet sites that may be accessed through the KAVAK Platform are not under the control of KAVAK. KAVAK shall not be responsible for the content of any third-party websites linked to the Platform in whole or in part, or for any potential harm arising out of or in connection with the use thereof.

The KAVAK Platform contains or may come to contain links to various social media pages or social networks, including: (i) Facebook® account, with the username: kavak.com; (ii) Twitter® account, with the username: @kavakmx, (iii) Instagram® account, with the username: @kavak.com; (iv) LinkedIn account, with the username: Kavak.com; and (v) YouTube® Channel, with the username: KAVAK. The aforementioned accounts or profiles are administered by KAVAK; therefore, the User acknowledges that they are exclusively intended for social networking and information dissemination of KAVAK; therefore, KAVAK is not responsible, to any extent, for publications and/or comments, including the content and/or information that is exposed there, and any other activity performed by the User, any other person outside KAVAK, and/or that is beyond the scope of the direct administration of KAVAK. The User shall be solely responsible for the content shared on KAVAK's social network profiles; therefore, the User agrees to hold KAVAK harmless against any claim from a third party regarding the content posted by the User, including the payment of defense costs and other related expenses.

2.  Disclaimer of warranties

KAVAK makes no representation or warranty as to the accuracy, reliability or completeness of the content of the Platform. To the fullest extent permitted by law, KAVAK disclaims all warranties, express or implied, including, without limitation, implied warranties of merchantability and fitness for a particular purpose. KAVAK does not warrant that the Platform and/or the server that makes it available are free of "computer viruses" and use of the Website, the Mobile Applications, and/or any other part and/or extension of the Platform, is at the sole responsibility of the Client or User, and at the Client's or User's own risk.

3. Restriction of use of the Platform

The KAVAK Platform, as well as the Website, the Mobile Applications, and any other site or extension thereof, including the content of all and/or each one, including but not limited to text, graphic elements, trademarks, photographs, commercial advertisements, formats, software (source code/object code) and other works and intellectual property assets, in a broad sense, are the exclusive property of KAVAK, its affiliates and/or subsidiaries, and/or its customers or content providers, KAVAK has obtained the necessary permission to use the content facilitated by its customers and content providers; therefore, it is strictly forbidden to copy, reproduce, disseminate, distribute, transmit, transform, publicly communicate, abridge or modify in any way the KAVAK Platform and/or any of its extensions and its contents, either in whole or in part, and create derivative works of any material that is in the Platform and/or any of its parts, and/or in any medium known or to be known in the future, belonging to KAVAK, its affiliates and/or subsidiaries, without prior authorization from KAVAK. Also, the User is expressly prohibited from making any use of the KAVAK Platform and/or its content, through which it is intended to obtain financial gain. All rights not granted under these Terms and Conditions are reserved by KAVAK.

Notwithstanding the foregoing, the User may:

i. download or print, for his/her reference, the material contained in the KAVAK Platform, for personal use only; and

ii. download or print material sent to his/her e-mail address by KAVAK for personal use only.

The User may not, under any circumstances and, is therefore strictly prohibited, use spiders, robots, computer viruses, data mining techniques or other automated devices or programs to catalogue, download, store, access or reproduce and distribute the KAVAK Platform in all its extension and content, including but not limited to the Website and/or the Mobile Applications.

The User may not, under any circumstances, resell, exploit and/or profit with third parties the access to the KAVAK Platform, to the fullest extent and any content included therein.

4. User Liability

The User agrees to be liable for any damages incurred by KAVAK as a result of any incorrect or unauthorized use of the KAVAK Platform and all content published on it, as well as for any fraudulent operation or any operation that is contrary to applicable laws and regulations in force and applicable. KAVAK shall not be liable for damages of any kind, including without limitation special or consequential damages, arising from the User's access or inability to access the Platform, and/or any part and/or extension thereof, as well as from the use or abuse of the Platform and/or the information contained therein.

In addition, KAVAK is not responsible for the use of other sites on the Internet to which the User may access, through links contained in the Platform and/or in any part and/or extension of this. These links are provided solely as a service to users of the World Wide Web and their inclusion on the KAVAK Platform does not constitute an endorsement by, or affiliation with, KAVAK.

5. Platform operation and availability

KAVAK may block, interrupt, or restrict the use and access to the Platform when it deems it necessary, as well as remove or terminate the Platform in whole or in parts, including as part of the latter case, but not limited to, the Website, any or all of the Mobile Applications, and/or all or part of its content.

The User may unsubscribe his/her user profile from the KAVAK Platform at any time by sending a request to the e-mail address hola@kavak.com and/or arco@kavak.com.

6. User Account Registration and Use

In order to proceed with the creation of a user account or profile through the Website, the Mobile Applications and/or any other part or section of the KAVAK Platform, the User must first provide his/her personal data, including but not limited to full name, home address, email address and telephone number, in accordance with the provisions of the KAVAK Privacy Notice. By creating a user account, the User declares to agree with the Terms and Conditions, and with the Privacy Notice, which KAVAK makes available for consultation.

The User may create his/her account or user profile to access the Website and/or the Mobile Applications, and/or any other part and/or extension of the KAVAK Platform, using the credentials of Facebook®, Apple®, Google® or YouTube® Channel, whereby the User grants KAVAK the authorization to merge the user accounts he/she has with Facebook®, Apple® or Google®, if applicable, and to use and publish information in his/her social network profiles, in accordance with his/her privacy settings. Notwithstanding the foregoing, the User shall be subject to the terms and conditions, and privacy policies of Facebook®, Apple® and Google®, for which KAVAK shall not be liable for errors in the User's profile on their social networks.

Each User is solely responsible for the use and management of his/her user account, and each user account should be used only by 1 (one) person, consequently, the User is solely responsible for the use and management of his/her personal password. The User agrees that the security procedures that KAVAK offers through its Platform for the creation and access to user accounts, are commercially reasonable and are technically sufficient, therefore, the User may not claim unauthorized or illegal access to his/her user account, nor claim that he/she has been impersonated; therefore, the presumption will be that all the actions performed on the KAVAK Platform, through his/her user account, have been made by the User.

It is strictly prohibited to use data and/or information of third parties, without their prior authorization, to create user accounts on the Website and/or Mobile Applications, or any part and/or extension of the KAVAK Platform.

4. OF THE SERVICES OFFERED BY KAVAK

The User may access the KAVAK Platform to Buy a used Vehicle published by KAVAK; and/or to request the installment sale with interest with reservation of title on a Vehicle; and/or to Sell a Vehicle of his/her property. The list of Services that KAVAK offers to its Clients are as follows:

1. Vehicle Purchase

When a Customer or User wishes to acquire ownership of a Vehicle offered by KAVAK, through the same Platform; or in person at an Exhibition Center or Showroom authorized by KAVAK, the Customer must follow the following process:

Vehicle Purchase Process:

1. Buyer Registration: To become a Buyer, the Client or User must register on the Platform, indicating his/her full name, full home address (street name, outside number, inside number and zip code), email address and telephone number, and such other details as may be required by KAVAK, in accordance with the provisions of clause 4.6. of Clause 4 of these Terms and Conditions, or you must enter the Platform through your user account, if you have already registered previously, in accordance with the provisions of Clause 4 of these Terms and Conditions.

Vehicle Selection: The Buyer may view the Vehicles available for purchase by accessing the Platform under the option "Buy a car" or "Buy". The Platform contains a comprehensive catalog of Vehicles available for Purchase. Each Vehicle published is certified by KAVAK, in accordance with the Inspection process. For each Vehicle available for Purchase, the Platform displays photographs showing the exterior and interior of the Vehicle, as well as details of upholstery, accessories, tires, and the various parts of the Vehicle that can be seen with the naked eye, and may display, if applicable, photographs relating to specific details such as scratches, dents, among others.

In addition, the catalog includes some features of the Vehicle, including, but not limited to: make, model, style, year, mileage, engine, color, number of doors, passenger capacity, horsepower, traction, transmission, VIN or serial number, license plate number, Stock ID number, Sale Price or Total Price of the Vehicle, and location details of the Vehicle, i.e., the Showroom where it is physically located. The photographs shown are actual photographs of the Vehicle, and are for reference only and not limiting the details that the Vehicle may have.

If the Buyer goes to the Exhibition Center where the Vehicle he/she is interested in is physically located, he will have access to information on the Vehicle, in the Technical Data Sheet displayed on the Vehicle: make, model, style, year, mileage, engine, horsepower, traction, transmission, VIN or serial number, license plate number, Stock ID number, Sale Price or Total Price of the Vehicle, among others; which may be consulted and expanded through the Vehicle´s QR Code. KAVAK strives to show on its platform every piece of information pertaining to the Vehicle; however, it may happen that some of them may not be published on the Platform or are not easily seen in the photographs, which cannot be sued as basis for liability towards KAVAK.

KAVAK may publish, through the Platform, any possible third-party reports concerning the Vehicle´s condition. KAVAK disclaims any responsibility for the accuracy of such reports.

When the Buyer wishes to advance in the Purchase process, he/she can select the "I am interested" option

After the Reservation of the Vehicle and the payment of the Reservation Fee have been made, KAVAK shall contact the Customer, coordinate the Purchase and, if applicable, the collection of the Vehicle and schedule dates for full payment and delivery of the Vehicle to the Buyer.

Prior to the delivery of the Vehicle to the Customer's address, or to any KAVAK showroom, the Customer authorizes to cover 100% (one hundred percent) of the delivery in question and this amount will not be refundable even if the Customer ultimately decides not to go ahead with the purchase of the Vehicle.

When the payment is made by any means other than the KAVAK Platform or Mobile Application as mentioned in the preceding paragraph, the money is refunded via bank transfer to the bank account provided by the Client (The account has to be in his/her name). Once the amount is released by KAVAK, this deposit will show again on the bank account within 15 (fifteen) to 30 (thirty) business days, depending on the Client's Banking Institution.

It is worth mentioning that, upon requesting the refund, KAVAK will contact the Client through the WhatsApp application/text message with instructions to follow the Cancellation Procedure. The Client will have to verify certain information such as details of the bank account where the refund money should be paid into. It will take KAVAK approximately 7 (seven) to 15 (fifteen) business days to release the payment internally, provided the Client provides the correct information. The refund will only and exclusively be made to the Client's bank account and for no reason to any third party.

3. The KAVAK Platform will calculate on an approximate basis and on the understanding that the same may vary because payments are required at a later date, the applicable taxes and duties, as well as expenses related to the transfer of ownership of the Vehicle, vehicle registration and delivery fees. Such additional costs will be added to the Sale Price to present the Buyer with the total value of the Purchase. The aforementioned fees and costs may vary depending on the Emirate or Area where the Delivery and registration of the Vehicle takes place. KAVAK may apply a delivery charge for transporting a Vehicle from one KAVAK location to another, or for Vehicles moved outside of the delivery zone. Additionally, if a Buyer decides to make an additional purchase (e.g., purchase Kavak Total), such charges will also be calculated and displayed for the Buyer as he/she navigates through the “Reserve a Vehicle” process.

Thereafter, KAVAK shall arrange for the Sale and Delivery of the Vehicle, in favor of the Purchaser, in accordance with the following:

A. Vehicles with license plates: KAVAK will complete the Sale of the Vehicle by (i) delivering the Vehicle and the Vehicle Documentation to the Purchaser and providing the Purchaser with all the information and notifications related to the Purchase; (ii) complying with the completion of the vehicle documentation, including but not limited to: Sales contract, original invoice, proof of payment of duties, registration card, original license plates, proof of vehicle verification, emissions compliance certificate, among other documents related to the Purchase of the Vehicle; (iii) receiving payment for the purchase of the Vehicle; and (iv) ensuring that the Vehicles have an up to date vehicle verification,  for which there is a period of 30 (thirty) calendar days, with the exception of the sale of Vehicles without license plates.

B. Vehicles without license plates: KAVAK will complete the Sale of the vehicle by (i) delivering the Vehicle, and the Documentation, to the Purchaser, and will provide the Purchaser with all information and notifications related to the Purchase; and (ii) receiving payment for the purchase of the Vehicle. In the case of the sale of Vehicles without license plates, it will be the responsibility of the Purchaser to carry out all those procedures required for the Vehicle to circulate, releasing KAVAK from this responsibility.

KAVAK may use a third-party payment agent ("Paying Agent") to collect the Sale Price of the Vehicle from the Buyer through a payment account associated with his/her KAVAK account. The processing of payments will be subject to the Terms, Conditions and Privacy Policies of the Payment Agent, in addition to those associated with these Terms and Conditions. KAVAK is not responsible for errors of the Payment Agent. By agreeing to enter into a transaction with KAVAK, the Buyer agrees to pay through the Paying Agent all charges in accordance with the applicable payment terms and authorizes KAVAK, through the Paying Agent, to charge or remunerate its selected payment provider.

The Selling Price of the Vehicles offered will be communicated prior to invoicing and includes KAVAK's Profit Margin but does not include the cost of change of ownership, license plates, delivery fees (if any), duties, taxes or related charges.

The Sale Price is calculated at the time the Vehicle is Reserved through the Service and determined based on the location where the Vehicle will be delivered and the Emirate where it will be registered.

The Purchaser and KAVAK will enter into the relevant Contract in accordance with the Terms of Sale and Purchase. The Purchaser agrees that payment for the Purchase of the Vehicle may only be made by electronic bank transfer to the account specified by KAVAK. Under no circumstances will KAVAK accept payment in cash. Payment must be made prior to or at the latest upon Delivery of the Vehicle. The Vehicle shall be free of any lien or encumbrance at the time of Delivery. In this respect, at the time of Delivery, KAVAK undertakes to deliver to the Purchaser the original Vehicle Documentation.

Furthermore, the Purchaser accepts and acknowledges that the Home Delivery of the Vehicle is subject to KAVAK's Coverage Area, where KAVAK reserves the right to decide in which locations it may or may not deliver the Vehicle. KAVAK will advise the Purchaser, if applicable, the place where the Purchaser may collect the Vehicle; or the Exhibition Center or Showroom in which the Purchaser may collect the Vehicle.

The Buyer accepts and acknowledges that the Delivery of the Vehicle may be delayed for circumstances beyond KAVAK's control. Accordingly, KAVAK cannot give any guarantee as to the exact date for the Delivery at the time of the Reservation; therefore, the estimated Delivery date will be subject to change, which will be notified to the Purchaser through the KAVAK Platform.

2. Vehicle Sales

When the User wishes to Sell a Vehicle using the Services through our Website or Mobile Application, from October 25, 2021, KAVAK is offering an additional AED 94 (ninety-four dirhams) or more for it. This applies to all vehicles model year 2010 to date and that meet the selection criteria in accordance with our Terms and Conditions.

The User must provide basic information on the Vehicle, including, but not limited to the make, model, year, version, condition, history, mileage, and any other information requested by KAVAK. Please note that vehicles with a theft report or theft-recovered vehicles will not be accepted.

If the Vehicle meets KAVAK's selection criteria, the User may receive an offer or several types of offers from KAVAK as set out in this section, depending on the characteristics of the Vehicle and the market situation at that time; however, KAVAK reserves the right to make or not to make an offer for the Vehicle owned by the User.

Upon an Initial Offer to Purchase, KAVAK and User shall schedule an Inspection for the Vehicle with a qualified KAVAK inspector. If necessary, User shall provide additional information regarding the identification of the Vehicle, including full name of the owner and location of the Vehicle in order to conduct the Inspection, as well as any other documentation requested by KAVAK during this process.

The Initial Offer Price issued by KAVAK is not fixed and may vary at any time after the Inspection for mechanical, electrical and/or electronic overhaul, as well as the corresponding analysis of potential legal discounts.

The Inspection may be scheduled at the User's home, in accordance with the conditions that apply for Home Services; or it may be scheduled at one of KAVAK's Authorized Centers and/or Exhibition Centers, from Monday to Saturday, between the hours of 9:00 A.M. and 6:00 P.M.

When a vehicle is sold by Part Exchange and the Customer decides to make his Satisfaction Guarantee, he may get his vehicle back provided that; (i) the Vehicle has not been parked or sold by any other Customer, (ii) he assumes the cost of repairs and expenses incurred to the Vehicle in question and (iii) he decides not to receive the full Price of the Vehicle with which the Offer was made to him.

Inspection: For the day of the Inspection, the User must have the Vehicle washed (exterior, interior, engine, tires) and vacuumed, i.e., in excellent condition to be photographed. Before handing over the vehicle to KAVAK the User is obliged to remove all his/her belongings; KAVAK is not responsible in whole or in part for objects left inside the vehicle. Likewise, the Vehicle must have the necessary vehicle verification certificate (from RTA) of the Emirate where the Vehicle is registered and in force for up to 6 months.

The User agrees that the Inspection will include not only the review of the general condition of the Vehicle but also a verification of the mechanical condition and the performance of a test drive, where the car can be driven at speeds of 100km/h (one hundred kilometers per hour) or more. In the case where the Vehicle is not fully insured, the KAVAK inspector may refuse to perform the Inspection, including the test drive. In the event that the KAVAK inspector agrees to perform the Inspection and the test drive on a Vehicle not fully insured, the User will be fully responsible to cover any costs or expenses related to any damage, dents or total loss of the Vehicle in the event of an accident during this process.

Each Seller agrees that, in the event of providing false, incomplete or incorrect information, whether personal or related to the Vehicle, any agreement between the Seller and KAVAK relating to the purchase of the Vehicle by KAVAK shall be null and void and of no effect to the parties; the Seller shall be liable and shall compensate KAVAK for any loss or damage that may be caused to KAVAK or its Users arising from false, inaccurate, incomplete or incorrect information, regardless of any civil, commercial or even criminal actions to which KAVAK may be entitled.

In the event that a traffic accident occurs during the test drive inspection, KAVAK may purchase the Vehicle under the Immediate Purchase option. However, in the event that there is no agreement for an on-the-spot purchase, KAVAK may choose, if applicable, to (i) bear the cost of the insurance deductible or (ii) make the corresponding repairs to the Vehicle at its own expense.

The KAVAK inspector will also verify the make, model, year, version, mileage, condition, history, invoice and registration of the Vehicle. Likewise, the inspector will verify the documentation of the Vehicle, including, registration card, certificate of verification, payments of tenure or endorsements and invoice of the Vehicle, including, where appropriate, direct verification with the automotive agency of origin and any review in order to confirm the ownership of the Vehicle. In the event that there are co-owners of the Vehicle, they must also be present at the time of signing the Sale and Purchase Agreement, after KAVAK has verified the co-ownership of the Vehicle.

Upon completion of the Inspection, KAVAK will inform the User of the types of offers, at its discretion.

The User will be able to choose the offer he/she wants and therefore the Determined Price; such price will be the amount for which KAVAK will acquire the Vehicle. The types of offers that KAVAK offers are described below:

i. On the spot offer: KAVAK will purchase the Vehicle on the spot, where 100% (one hundred percent) of the payment for the Vehicle will be made within 48 (forty-eight) hours.

ii. 30 days guaranteed offer: KAVAK purchases the Vehicle, and the total amount is settled within 30 (thirty) days.  A first payment of 20% (twenty percent) 48 (forty-eight) hours after signing the Sales Contract and the remaining 80% (eighty percent) 30 (thirty) days after the date of signing the Contract.

iii. Part Exchange: KAVAK shall take the Vehicle in the event that the User wishes to Purchase another Vehicle from KAVAK, and the Parties shall be obliged to pay the difference, as applicable.

iv. Other offers:  KAVAK reserves the right to include.