Rybit Rental Agreement

 

RIDE FUTURE TECH INC (TRADING AS RYBIT) PRIVACY NOTICE.

 

THIS RENTAL AGREEMENT CONTAINS RELEASES, WARRANTY LIMITATIONS, ARBITRATION PROVISIONS, ASSUMPTION OF RISK PROVISIONS, AND INDEMNITY PROVISIONS, ALL OF WHICH LIMIT YOUR LEGAL RIGHTS AND REMEDIES. YOU SHOULD READ THIS AGREEMENT CAREFULLY AND

UNDERSTAND ITS BINDING EFFECTS.

PART A: Introductory Contract Terms

 

This is a legally binding agreement between RIDE FUTURE TECH INC, a Miami limited liability company at 701 Brickell Avenue 17th Floor, Miami FL 33131 and the person renting an electric bicycle at the time of rental (referred to as "renter", “you”, and “your”).

 

You and Rybit are collectively referred to as “the parties”.

 

Rybit app and Rybit website are collectively referred to as “Rybit app”.

1. Fees

The Renter hereby agrees to pay Rybit the fees associated with the plan and any add-ons selected through our Rybit app.

2. Rybit Bike

The bike you have agreed to rent from us at the time of your Rental (“Bike”)

 

3. Security Deposit Deposit: $330

 

The Deposit is payable by you on taking possession of the Bike and will be retained by Rybit as security for the Bike and accompanying U-Lock.

 

In the event of loss or damage to the Bike or U-Lock for which you are liable, Rybit will (on giving written notice to you), apply the Deposit (or part thereof) to the cost of necessary repairs or replacement. Refer to Appendix A of the Rybit Rent-To-Own Agreement for current pricing

 

In the event of outstanding rental or repair fees, Rybit will (on giving written notice to you), apply the Deposit (or part thereof) to the satisfaction of same.

 

In the absence of damage, loss or outstanding fees, the Deposit will be refunded to you in full within 10 Business Days of the expiry of the Term.

 

4. Payment Terms

You must pay the deposit before you take possession of the Bike.

 

Fees are payable in advance. You are required to subscribe to the appropriate Rybit Plan through the Rybit app, prior to collecting the Bike. You authorise Rybit to debit your nominated debit or credit card with the amount of the Fees as and when they fall due.

 

PART B: Rental Terms

 

The terms and conditions set out in this part apply to you (in addition to the terms set out in Part A and Part C) when entering an agreement with Rybit.

 

1. Agreement to terms

When you enter a rent arrangement with Rybit, the Parties accept all terms and conditions set out in this Agreement.

 

In addition, you acknowledge that

  1. you have received the Bike

  2. you have read and understood the Rybit Rental Agreement and Rybit Safety, Security and Maintenance Guide and agree to comply with all obligations under the same

  3. you authorize us to share your details with the delivery companies you work for to confirm that you have an active account on their platform

 

2. Rental Period

Rybit agrees to rent the Bike to you from the Start Date when you took possession of your rental bike from a Rybit shop or partner shop.

 

The parties agree that this agreement starts (and the first payment is taken) on the Start Date specified above and terminates when the agreed period of time, outlined in the Rybit app, has finished.

 

3. Termination

This agreement will terminate at the end of the Rental Period after fulfilment of all obligations under this agreement.

 

Either party may terminate this agreement earlier by giving the other party seven (7) days’ notice in

writing. If you elect to terminate this agreement early, you understand and agree that you are forfeiting any right, entitlement or credits.

 

If a payment remains outstanding for more than seven (7) Business Days, Rybit may terminate this agreement immediately by giving notice to you in writing. If Rybit terminates the agreement for

non-payment, you must immediately return the Bike to Rybit in accordance with the instructions given in the notice.

 

4. Return of the Bike

If the Bike is to be returned to Rybit due to termination, you and Rybit will agree an end date (“End Date”). The End Date must not be less than seven (7) days from the date of the termination notice, unless Rybit has consented in writing to an assignment or Rybit has terminated the agreement for non-payment, in which case the End Date will be set out in the notice.

 

On or before the End Date, you must return the Bike:

 

  1. to a designed Rybit Location, on or before the End Date, during operating hours; and

  2. in the same condition as it was at the commencement of the Rental Period, fair wear and tear excepted.

 

The Bike will be deemed returned to the possession of Rybit when Rybit or their authorized representative signs for the Bike.

 

Fees will continue to apply for each day between the date of notification of termination and the End Date, or if you fail to return the Bike as set out above or as otherwise instructed by Rybit, the date that the Bike is returned to Rybit.

 

If you do not return the Bike on the End Date then:

 

  1. you must pay Rybit Fees for each day between the End Date and the date the Bike is returned;

  2. after written notice to you and if the location of the Bike is unknown, Rybit may report the Bike as stolen to the Police; and

  3. you must compensate Rybit for any reasonable costs incurred in recovering the Bike.

 

PART C: Concluding Contract Terms

 

  1. Late, Missed or Overdue Payments

If a payment is not made on time, as agreed for any reason (for example, if there are insufficient funds available in the nominated account), you will incur an administrative fee of $3/day. The administrative fee applies for every missed payment where an attempt is made to process a payment and it is returned by the relevant financial institution. Rybit reserves the right to charge interest at the rate of the

lesser of 6% per annum or the maximum amount allowable under law as at that date on all amounts outstanding until paid in full.

 

To the extent permitted by law, Rybit may also refer the matter to a debt collector or attorney for collection of fees outstanding and repossession of the Bike, if applicable, in which case you will be liable to pay to Rybit all fees and charges payable in respect of the debt collector’s fees (including any commission), costs associated with recovering possession of the Bike and attorney’s fees on a full

indemnity basis as permitted by law.

 

2. Location sharing

You consent to share location data with Rybit. The Renter may revoke this consent via a written request to the Owner and swapping the Bike for one that is not GPS-enabled.

Rybit agrees NOT to share the Rider's location data with any third party without consent or without removing the identity of the rider.

 

3. Authorized Use

Rybit authorizes you to use the Bike during the Term for reasonable business and personal use, subject to the proviso that such use must be predominantly for business purposes and must not involve operation of the Bike outside of reasonable and safe parameters.

 

Authorized business use includes commercial delivery services, such as document or food delivery, in accordance with local road rules and legislation.

 

Authorized personal use includes operation of the Bike on roads in accordance with local road rules and legislation.

 

Unauthorized Use includes (but is not limited to) any business or personal use involving:

  1. the operation of the Bike by any person other than you; or

  2. the carriage of any person in addition to you; or

  3. the usage of the Bike by any person under the age of 18; or

  4. the towing of another person, vehicle or other object; or

  5. the influence of any alcohol, drugs, medication, or other substance that may impair your ability to safely operate the Bike; or

  6. the operation, use or involvement in any way of the Bike in violation of any laws or for an illegal purpose; or

  7. any race or competition.

 

RIDING A BICYCLE MAY CAUSE INJURIES OR DISCOMFORT AND MAY WORSEN OR

COMPLICATE UNDERLYING MEDICAL CONDITIONS OR DISEASES. BY CHOOSING TO RIDE A BICYCLE, YOU ASSUME ALL RESPONSIBILITIES AND RISKS FOR ALL SUCH INJURIES OR OTHER MEDICAL CONDITIONS.

 

  1. Rybit Warranty

Rybit represents that, to the best of its knowledge and belief, the Bike is supplied to you at the commencement of the Term:

  1. in sound and safe condition, suitable for Authorized Use; and

  2. free of any known faults or defects that would affect its safe operation under normal use; and

  3. in accordance with the manufacturer’s standards.

 

Apart from this and any other warranty or guarantee set out in this agreement, or which you are entitled to by law, Rybit excludes all other warranties or guarantees.

 

5. Consumer Law

Our products and services come with guarantees that cannot be excluded under applicable consumer law. Nothing in this agreement impacts your rights under applicable consumer law, including your right to a remedy if we fail to meet a consumer guarantee.

 

6. Limitation of Liability

 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL WE, OR OUR OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES, EQUITY HOLDERS,

REPRESENTATIVES OR AGENTS BE LIABLE FOR ANY, INDIRECT, INCIDENTAL,

CONSEQUENTIAL, PUNITIVE, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF INCOME, PROFITS, GOODWILL, DATA, OR USE OF MONEY, WHETHER IN

TORT (INCLUDING WITHOUT LIMITATION NEGLIGENCE), CONTRACT OR OTHERWISE, ARISING OUT OF OR RELATED TO ANY ACCESS TO, USE OF, OR INABILITY TO ACCESS OR USE THE

BIKE OR ANY OF ITS FEATURES, FUNCTIONALITIES, CAPABILITIES OR CONTENT, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, OUR OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES, EQUITY HOLDERS, REPRESENTATIVES AND AGENTS DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH THE BIKE AND YOUR USE THEREOF, INCLUDING BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF

MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

 

This section does not affect, and is not intended to affect, any rights that a consumer has that are not able to be excluded under applicable consumer laws.

 

Notwithstanding anything herein to the contrary, Rybit’ aggregate liability to you shall be capped at the higher of $3,000 or one year’s fees under this agreement.

 

We provide no liability protection under the terms of the Rental Agreement to the renter from claims of injury by others against you resulting from an accident. Your personal/business insurance may cover your liability.

 

7. Your Warranties

You warrant that you:

  1. have been advised by Rybit that it is recommended that you obtain and maintain appropriate public liability insurance coverage for loss or damage caused to persons or property in connection with your use of the Bike; and

  2. will only use the Bike for Authorized Use; and

  3. will, at all times during the Term while the Bike is not in use, lock the Bike using the supplied U-Lock in accordance with all reasonable directions of Rybit, and keep the Bike stored indoors and covered overnight

  4. are knowledgeable about the operation of a bicycle, and about the laws pertaining to bicycles operated within California; and

  5. do not suffer from any physical or mental condition, as far as you are aware, which may impact on your ability to safely control the Bike, including in variable traffic and weather conditions; and

  6. will, at all times, wear an industry standard helmet while riding the Bike; and

  7. will satisfy yourself on each occasion before commencing a ride that the Bike is roadworthy (including front and back lights if you intend on riding after sunset).

 

You will defend, indemnify and hold harmless Rybit and its parents, subsidiaries, agents and affiliates in respect of any liabilities, claims, loss or damage arising out of any warranty given in this clause being incorrect or any breach of this agreement or intellectual property and will be solely

responsible for all loss and damage so arising, including (but not limited to) all associated, tickets, fines, and fees. Rybit reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and, in such case, you shall agree to cooperate with our defense of such claim.

 

8. Responsibility for Loss and Damage

You hereby acknowledge that you are liable for:

  1. the loss of, and all damage to, the Bike during the Term of this agreement; and

  2. all damage or injury to any person or property of any person:

    1. which is caused or contributed to by you or any person you allow to drive the Bike, including flat tires; or

    2. which arises from the use of the Bike by you or any person you allow to drive the Bike.

 

In the event of loss or damage to the Bike or other loss or damage arising in connection with the use of the Bike, you must:

  1. provide Rybit with details of the incident including:

    1. an accurate description of the incident e.g. state stolen and the location,

    2. name, address and license number, of any other person involved,

    3. registration of any other vehicles involved,

 

  1. names and station of any police officers involved;

  1. promptly report the incident in writing to Rybit, together with a copy of the police report and event number, in the event the Bike is stolen;

  2. return all parts of the Bike which have not been damaged or stolen (e.g. lock, keys, battery, charger, etc.) to Rybit.

 

You will be liable to pay Rybit the amount of $2,500, being the replacement value of the Bike, plus any additional costs incurred by Rybit incidental to the loss or theft of the Bike, by way of liquidated damages. You agree to pay such amount immediately on demand.

 

Please see attached Schedule 1 for a list of fees you will be charged for each broken part of the Bike.

 

9. Maintenance, Security and Safety

You hereby agree to comply with the following for the Term:

  1. maintain the Bike to the same standard in which the Bike is supplied to you in (including by complying with all additional servicing or repairs recommended by Rybit at any service);

  2. complete the safety and maintenance checks outlined in the Rybit Safety, Security and Maintenance Guide;

  3. during the Term while the Bike is not in use, lock the Bike using the supplied U-Lock in accordance with all reasonable directions of Rybit, and keep the Bike stored indoors and covered overnight, including as set out in the Safety, Security and Maintenance Guide, as amended from time to time;

  4. comply with all applicable transport laws;

  5. visit a nominated Rybit location with the Bike when it needs to be serviced

  6. visit a nominated Rybit location with the Bike as directed by Rybit for a service within 7 days of being requested to by Rybit;

  7. refrain from servicing or causing the Bike to be serviced otherwise than at a designated Rybit location.

 

Regular servicing as set out above is necessary for Rybit to ensure the continued safety of the Bike.

 

Standard services are provided at no cost once every 4 months during the Term, however if Rybit or their representative identifies any damage requiring repair (apart from ordinary wear and tear),

including (but not limited to) a flat battery, flat or punctured tire, lost keys to locks or other accidental damage, you will be responsible to pay for such repairs. Refer to the Safety, Security and Maintenance Guide for current pricing.

 

10. Dispute Resolution

If a dispute arises between the parties, you may not commence any court proceedings (except where they seek urgent interlocutory relief), unless you have first complied with this clause.

 

The rights and remedies in this Section 10 are cumulative and are in addition to and not in substitution for any other rights and remedies of Rybit available at law or in equity or otherwise, including any debt collection mechanisms legally available.

 

This Rental Agreement is governed by, and must be construed and enforced in accordance with, the laws of the State of California, excluding principles of conflicts of laws.

 

The parties agree that any dispute or Claim relating in any way to your use of the Bikes will be resolved by binding arbitration, rather than in court, except that a party may assert claims in small claims court if the claims qualify or through any debt collection mechanisms legally available. The Federal Arbitration Act and federal arbitration law apply to this Rental Agreement.

 

The party must inform the other party in writing of the nature of the dispute, the outcome they desire to resolve the dispute, and the action they believe will settle the dispute. The arbitration will be conducted by JAMS in accordance with the JAMS Streamlined Arbitration Procedure Rules in effect at the time the

 

arbitration is initiated, excluding any rules or procedures governing or permitting class actions. Payment of all filing, administration and arbitrator fees will be governed by JAMS's rules. The arbitration shall take place in San Francisco, California or at such other venue (and pursuant to such procedures) as is

mutually agreed upon.

 

THE PARTIES EACH AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED OR REPRESENTATIVE ACTION.

 

If for any reason a claim proceeds in court rather than in arbitration, the parties each agree that such proceeding shall take place solely by means of judicial reference pursuant to California Code of Civil Procedure section 638. The parties also both agree that either party may bring suit in court to enjoin infringement or other misuse of intellectual property rights.

 

You have the right to opt out and not be bound by the arbitration and class action waiver provisions set forth above by sending written notice of your decision to opt out to contact@rybit.io with the subject line, "RYBIT ARBITRATION AND CLASS ACTION WAIVER OPT-OUT." The notice must be sent within thirty (30) days of the Start Date, otherwise you shall be bound to arbitrate disputes in accordance with the terms of those paragraphs. If you opt out of these arbitration provisions, Rybit also will not be bound by them.

 

In the event that the arbitration provisions above are found not to apply to you or to a particular claim or dispute, you agree that the venue for any such Claim or dispute is exclusively that of a state or federal court located in San Francisco County, California. The parties agree to submit to the personal

jurisdiction of the courts located within San Francisco County, California for the purpose of litigating all such claims or disputes.

 

Further, if Rybit prevails in litigation against you to enforce its rights under this Agreement, Rybit shall be entitled to its costs, expenses, and reasonable attorneys’ fees (whether incurred at or in preparation for trial, appeal, or otherwise) incurred in resolving or settling the dispute, in addition to all other damages or awards to which Rybit may be entitled.

 

All communications made by the parties arising out of this dispute resolution clause are confidential and to the maximum extent possible, must be treated as "without prejudice" negotiations for the purpose of applicable laws of evidence.

 

This clause survives termination of this agreement.

 

11. Assignment

You may elect to assign your rights and obligations under this agreement to another person, subject to Rybit’s prior written approval. Such approval may be subject to the provision of additional

information and conditions. Rybit’s decision on assignment will be final. In the event of an assignment, you must pay all charges up and including the effective date of assignment.

 

12. Relationship of Parties

This is a contract for the supply of goods and services and is not intended to create any other

relationship between the parties, such as employment, agency, joint venture, partnership, contractor and principal or franchisee and franchisor.

 

13. Changes to terms

An amendment or variation of any term of this agreement must be in writing and signed by each party.

 

14. Definitions

  1. Authorized Use means the use for which you are authorized by Rybit to use the Bike, as set out in clause 3 of this Part C.

  2. Business Day means a day on which banks are open for business in San Francisco, California, other than a Saturday, Sunday or public holiday.

  3. Consumer Price Index means the percentage increase in price for a fixed basket of goods and services purchased by the average household.

  4. End Date means the date agreed between you and Rybit to return possession of the Bike to Rybit, should either Rybit or you notify the other of termination of this agreement (but not including if Rybit notifies you of termination of this agreement due to your non-payment of fees or charges owing under this agreement – in that case the end date will be specified in the notice of termination).

 

  1. Safety, Security and Maintenance Guide means the Rybit’ Safety, Security and

Maintenance Guide that will be given to you on your initial collection of the Bike from Rybit.

  1. Start Date is the date when you took possession of your rental bike from a Rybit shop or partner shop.

  2. Term means for a Rental Only plan, the period between the Start Date and the date that Rybit re-takes possession of the Bike or the date this agreement is terminated (whichever is later), inclusive.

  3. U-Lock means the bicycle lock provided to you by Rybit for the purposes of securing the Bike when leaving it unattended.

  4. Unauthorized Use means any use other than an Authorized Use, as set out in clause 3 of this Part C.

  5. Fees means the rental fees payable by you to Rybit.

 

15. Interpretation

In this agreement the following rules of interpretation apply, unless the contrary intention appears or context otherwise requires:

  1. Headings and subheadings are for convenience only and do not affect the interpretation of this agreement.

  2. References to clauses, Schedules, annexures, appendices, attachments, parts and exhibits are references to the clauses, and the Schedules, annexures, appendices, attachments, parts and exhibits to, this agreement.

  3. References to parties are references to the parties to this agreement.

  4. References to a party to any agreement or document include that party's permitted assignees and successors, including executors and administrators and legal representatives.

  5. Words denoting the singular include the plural and words denoting the plural include the singular.

  6. Words denoting any gender include all genders.

  7. The word 'person' includes any individual, corporation or other body corporate, partnership, joint venture, trust, association and any Government Agency.

  8. A reference to any agreement or document (including this agreement) includes any amendments to or replacements of that document.

  9. A reference to a law includes:

    1. legislation, regulations and other instruments made under legislation and any consolidations, amendments, re-enactments or replacements of them;

    2. any constitutional provision, treaty or decree;

    3. any judgment;

    4. any rule or principle of common law or equity, and is a reference to that law as amended, consolidated, reenacted, replaced or applied to new or different facts.

  10. No provision of this agreement will be construed adversely to a party because that party was responsible for the preparation of that provision or this agreement.

  11. A reference to time is a reference to the time in San Francisco, California unless otherwise specified.

  12. A reference to a day is to be interpreted as the period of time commencing at midnight and ending 24 hours later.

  13. If any act is required to be performed under this agreement by a party on or by a specified day and the act is performed after 5.00 pm on that day, the act is deemed to be performed on the next day.

  14. If any act is required to be performed under this agreement on or by a specified day and that day is not a Business Day, the act must be performed on or by the next Business Day.

  15. A reference to an amount of dollars, U.S. dollars, $ or US$ is a reference to the lawful currency of the United States of America, unless the amount is specifically denominated in another currency.

  16. Specifying anything in this agreement after the terms 'include', 'including', 'includes', 'for example', 'such as' or any similar expression does not limit the sense of the words, description, definition, phrase or term preceding those terms unless there is express wording to the contrary and shall be deemed to include “without limitation”.

  17. Where a word or phrase is defined, other parts of speech and grammatical forms of that word or phrase have corresponding meanings.

APPENDIX A