Effective Date: 8/16/24

Welcome to Parkt! These Terms of Service ("Terms") govern your access to and use of the Parkt platform, including our website, mobile applications, and other services (collectively, the "Services"). By accessing or using our Services, you agree to comply with and be bound by these Terms. If you do not agree to these Terms, you may not use the Services.

1. Acceptance of Terms

By accessing or using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms. These Terms constitute a legally binding agreement between you and Parkt. If you do not agree to these Terms, you must immediately stop using the Services.

2. Services Provided

Parkt provides a platform that connects individuals seeking parking spots ("Buyers") with property owners or managers offering parking spaces ("Sellers"). The Services include facilitating reservations, processing payments, and providing a platform for communication between Buyers and Sellers.

3. User Accounts

• Account Creation: To access certain features of the Services, you must create an account. You agree to provide accurate, current, and complete information during the registration process and to update such information to keep it accurate, current, and complete. Failure to provide accurate information may result in the suspension or termination of your account.

• Account Responsibility: You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. You agree to notify us immediately of any unauthorized use of your account. Parkt will not be liable for any losses or damages arising from unauthorized use of your account.

• Account Suspension and Termination: Parkt reserves the right to suspend or terminate your account if you violate these Terms or engage in fraudulent or harmful activities. We also reserve the right to manage, suspend, or terminate accounts at our discretion.

4. Payments and Fees

• Payment Processing: Payments are processed securely through Stripe. Buyers are charged at the time of reservation, and Sellers receive payouts after the reservation is completed.

• Transaction Fees: Parkt charges a 7.5% fee on transactions, which is deducted from the payment made to Sellers. This fee is used to cover the costs of providing the Services and maintaining the platform.

• Refunds and Cancellations: Cancellations and refunds are handled according to our cancellation policy. Users may request refunds by contacting Parkt support via the app or by emailing [email protected]. Refunds are issued at our discretion based on the circumstances surrounding the request.

• Disputes: All payment disputes should be processed through Parkt's support by emailing [email protected]. Parkt will work to resolve disputes in a timely manner, but we do not guarantee resolution to the satisfaction of all parties involved.

5. User Conduct and Responsibilities

• Behavior: Users agree to use the Services in a lawful and respectful manner. Harassment, abuse, and other inappropriate conduct are strictly prohibited. Users who engage in such behavior may have their accounts suspended or terminated.

• Compliance: Users must comply with all applicable laws and regulations when using the Services. Sellers are responsible for ensuring that their parking spaces comply with local zoning, safety regulations, and any other applicable laws.

6. Data Collection and Privacy

• Information Collected: We collect personal information such as names, emails, phone numbers, addresses, vehicle information, and payment details. Location data is collected to enhance the user experience.

• Data Use: The information collected is used to facilitate reservations, ensure platform security, improve the Services, and comply with legal obligations. We retain personal data for as long as necessary to fulfill these purposes unless a longer retention period is required or permitted by law. Users may request deletion of their data by contacting support. We do not sell user data to third parties.

• Data Protection: We implement security measures to protect user data. Sensitive information is stored through Clerk, with SSL encryption and strict access controls. Regular security audits are conducted to ensure ongoing protection of user data.

7. Liability and Disclaimers

• No Insurance Provided: Parkt does not offer insurance for parked vehicles. Users are responsible for securing their own insurance coverage for their vehicles and any other property.

• Limitation of Liability: Parkt is not liable for any direct, indirect, incidental, or consequential damages arising from the use of the Services, including but not limited to vehicle damage, theft, or personal injury, to the extent permitted by law. Some jurisdictions do not allow the exclusion or limitation of certain damages, so these exclusions may not apply to you. Users should consult local laws to understand their rights.

8. Insurance Recommendations

Parkt strongly recommends that both Buyers and Sellers obtain appropriate insurance coverage:

• General Liability Insurance: Covers claims for bodily injury and property damage resulting from business operations.

• Commercial Property Insurance: Protects physical assets and can sometimes extend to cover third-party property damage.

• Errors and Omissions Insurance: Covers claims arising from negligence, errors, or omissions in services provided.

• Host Insurance Programs: Provides specific coverage for property owners.

• User Insurance Options: Users should consider purchasing insurance coverage for their vehicles while parked at listed locations.

9. Landlord-Tenant Relationships

Users acknowledge that by renting out parking spaces, they may be entering into a landlord-tenant relationship. Sellers must comply with all applicable local laws and regulations regarding such relationships. Parkt is not responsible for any obligations arising from these relationships.

10. Intellectual Property

• Content Ownership: All content on the Services, including text, images, and software, is the property of Parkt or its licensors and is protected by intellectual property laws. Unauthorized use of the content is prohibited.

• User-Generated Content: By submitting content to the Services, including reviews, comments, images, and other materials, you grant Parkt a non-exclusive, royalty-free, perpetual, and irrevocable license to use, modify, distribute, and display such content for marketing, promotional, and other purposes.

11. Promotions and Referral Programs

• Incentives: Parkt may offer promotional codes, discounts, and referral programs. These incentives are provided at our discretion and may be subject to additional terms and conditions.

• Program Changes: Parkt reserves the right to modify or terminate promotional programs and incentives at any time without notice. We also reserve the right to cancel, void, or reject any discount or promotion for any reason.

12. Explicit Agreement

By creating an account or using the Services, you explicitly agree to these Terms of Service. During the registration process, you will be required to check a box indicating your acceptance of these Terms. This agreement constitutes a legally binding contract between you and Parkt.

13. Compliance with Local Laws

Users must comply with all applicable local laws, including but not limited to short-term rental laws, occupancy laws, permits, and zoning regulations. Failure to comply with these laws may result in the suspension or termination of your account.

14. Dispute Resolution and Legal Matters

• Dispute Resolution: All disputes related to these Terms or the use of the Services should be directed to Parkt support by contacting us via the app or emailing [email protected]. Parkt encourages users to resolve disputes amicably. In the event of unresolved disputes, we offer mediation services through a third-party mediator. If mediation fails, disputes may be resolved through arbitration or in small claims court, as appropriate. Users agree to binding arbitration under the rules of the American Arbitration Association.

• Jurisdiction and Governing Law: These Terms are governed by the laws of the State of Delaware. Any legal actions or proceedings arising out of these Terms will be brought exclusively in the courts located in Delaware.

15. Changes to Terms

Parkt reserves the right to modify these Terms at any time. Users will be notified of significant changes through the Services. Continued use of the Services constitutes acceptance of the modified Terms. Users are encouraged to review these Terms periodically to stay informed about any updates.

16. Contact Information

For questions or concerns regarding these Terms, please contact us at [email protected].