FASTLAP Marketplace Service Provider Agreement

This Marketplace Service Provider Agreement (“Agreement") is by and between Fast-Lap Pte Ltd. ("FASTLAP"), and you, a Merchant (Event Organizer or Event Photographer) who has requested to become a FASTLAP Marketplace Service Provider ("MSP") to perform the sale of your Products on the FASTLAP Platforms. This Agreement applies to you in addition to the FASTLAP Services Agreement (Terms & Conditions, Privacy Policy, Safe Driving Guidelines).

1 Scope

(1) FASTLAP owns and operates a marketplace platform that allows Group Organizers, Track Owners, and Photographers to list and sell their products (namely Event Tickets, Pictures and accessories e.g. Tires, merchandise, etc.) (“Products”) to the public over the internet. This platform is currently provided on the website www.fastlap.com, but may be provided on different websites or applications in the future.

(2) The Merchant will have the opportunity to sell their Products on the FASTLAP platform. FASTLAP is entitled to accept purchases on behalf of the Merchant. The service provided by FASTLAP is limited to referring customers to the Merchant and accepting orders and payments on their behalf. In addition to this, at FASTLAP's discretion, they may provide the Merchant with analytics about the performance of the Merchant's products and additional marketing support. This support may be reflective of the agreed level of commission.

(3) The Merchant authorizes FASTLAP to accept binding orders from customers on their behalf.

(4) FASTLAP may carry out changes to the website or service, or suspend the service, without notice.

2 FASTLAP rights and obligations

(1) The Merchant acknowledges that the relationship between customers and FASTLAP is governed by the Privacy Policy and the Terms & conditions, both available on the website.

(2) FASTLAP will present on the website the products listed by the Merchant. The Merchant will be responsible for listing their own products.

(3) FASTLAP is authorized to accept binding sales on behalf of the Merchant and will be careful to pass order data on to the Merchant as well as technology allows.

(4) We are not responsible for managing, paying for, or fulfilling any sales that result from your Product Listings.

(5) To maintain its reputation for quality and high standard of service, FASTLAP reserves the right to terminate the relationship with the Merchant if the Merchant repeatedly receives bad reviews or complaints, or fails to comply with our recommendations.

3 Merchant rights and obligations

(1) The Merchant is obliged to provide all the information necessary when listing a product on FASTLAP.  These should include but is not limited to, a detailed title and sub-title, price, quantity, and description. The Merchant must never knowingly deceive a potential customer by misrepresenting their product/s. The Merchant must notify FASTLAP of any changes to the detail of their listings while uploaded on the site.

(2) The Merchant guarantees that information listed on FASTLAP relating to his products satisfies all legal requirements, and in particular, satisfies information requirements for consumer protection.

(3) The Merchant will be responsible for keeping an up-to-date inventory of all their products listed on FASTLAP.

(4) The Merchant guarantees that the information provided by him does not violate any third party's copyright.

(5) The Merchant will contact the customers no more than is necessary for processing the transactions referred by FASTLAP. In particular, the Merchant will not send any advertising email or other commercial advertisements to the customer without prior Agreement from FASTLAP or the expressed wish of the customer. When delivering products sold via FASTLAP, the Merchant will not advertise any of FASTLAP's competitors.

(6) If the Merchant cannot fulfil an order submitted to him, he must notify the Customers and FASTLAP as soon as possible, and within one day of receiving the order at the latest.

(7) The Merchant agrees to adhere to his range of products and prices as provided to FASTLAP and as described on their listing on the website. The Merchant guarantees that there are no ongoing criminal, bankruptcy or tax proceedings or other penalties outstanding concerning the products they are selling through the platform. The Merchant further guarantees to take great care to keep up-to-date his range of products, stock count, prices, and associated terms and conditions.

(8) The Merchant representative is to provide FASTLAP with a copy of his/her official IDs, permits, and registration at the contract signature.

(9) You may only use third-party Service Providers in connection with the Marketplace features if they act on your behalf and are bound by an agreement to protect Transaction Data at least as much as is required under the FastLap Terms. A breach of these Terms by any of your Service Providers will be deemed a breach by you. “Service Providers” means anyone who directly or indirectly provides services to you or to third parties on your behalf.

(10) You agree to the terms of service of the payment processor(s) we have selected, which currently include the terms of Stripe. When you agree to these Marketplace Service Provider Agreement, we also accept your agreement to the terms of the payment processor(s) on their behalf. We do not act as an agent of the payment processor(s) in any other way.

(11) You acknowledge that the payment processor(s) we selected will process all payments for such sales, according to their respective terms of service.

(12) We reserve the right to add or change payment processors from time to time. We will notify you of any new payment processors and add their terms of service to these Marketplace Service Provider Agreement, and your continued use of the MarketPlace Features upon receipt of such notice constitutes acceptance of such addition or change as well as your acceptance of their terms of service. You acknowledge that we may share the information you provided when you signed up to our merchant commerce platform with any payment processors we select, solely for the purpose of enabling them to provide you with payment processing services to support the MarketPlace Features that you use.

4 Commission

(1) The Merchant agrees to pay FASTLAP a fixed percentage commission of 3% on the gross revenue from the sales made through the FASTLAP platform (including sale price(s), and Applicable Taxes). Depending on the product categories, countries, roles, and individuals, FASTLAP may come with different commission percentages.

(2) FASTLAP may start charging additional fees for the sale of goods through the platform at any point. These may include but are not limited to, listing fees, multiple photos fees, and enhanced marketing fees. In the event of the introduction of further fees, the Merchant will be notified before their commencement in writing, and they will have the option to opt-out.

(3) FASTLAP reserves the right to adjust the percentage commission, providing proper notice is served in advance to the Merchant. FASTLAP will give the Merchant adequate notice of any commission changes, in writing. This does not cover adjustments that constitute a material change of the contract terms, which would require an additional agreement on the change.

(4) FASTLAP commissions are deducted in advance, on a one-time and per-item basis by the at the moment of transaction by the Users of the FASTLAP Platform.

(5) the commission retained by FASTLAP for these activities is a non-reimbursable fee that FASTLAP will retain even in case of reimbursement to the end-user of the amount of purchase (e.g. for cancellation of the event)

(6) You authorize the payment processor(s) we select to electronically debit the bank account you provided us for chargebacks or other fees, fines, penalties, negative balances or other amounts owed to the payment processor or to us under these Program Terms, and, if necessary, to electronically credit your account to correct erroneous debits. This authorization will remain in effect while you have a FASTLAP account. If you delete your FASTLAP account, the authorization will remain in effect for another 60 days before expiring. You represent and warrant to us that the bank account you provided is a business deposit account and that such account is not used for any personal, family, or household purposes. You understand and agree that the initiation and transmission of each debit and credit will be subject to, and made in accordance with, applicable law and the operating rules of the relevant bank clearing system.

(7) If a debit authorized under this Section fails, we may take additional steps to collect past due amounts. You will pay all expenses associated with such collection.

5 Liability

(1) The Merchant indemnifies FASTLAP from all claims arising in relation to matters outside FASTLAP's control, including but not limited to the quality of goods and services provided by the Merchant. The Merchant further indemnifies FASTLAP from third parties' claims resulting from any violation of laws and regulations by the Merchant.

(2) FASTLAP cannot guarantee that its service will be free from all malfunctions, but will exercise all reasonable care and skill to resolve any such case.

(3) VAT or other applicable taxes liability rests with the Merchant, and FASTLAP will not be responsible for any Tax related issues.

6 License

(1) FASTLAP has the right to freely maintain the Merchants' listing and its ranking on the website.

(2) FASTLAP may scan, transcribe, and publish online the Merchant's listings, logos, and other materials required. The merchant grants to FASTLAP a royalty-free, perpetual, unrestricted license to use and distribute any materials provided by him for the purpose of advertising FASTLAP's service. In particular, this includes use in Google AdWords campaigns, domain name registrations, and other online marketing and search engine optimization measures.

7 Terms and termination

(1) This Agreement is valid as soon as the Merchant signs the contract, or fulfils an order referred by FASTLAP, and remains valid indefinitely, until termination by either party. Termination can occur at any time, with a period of notice of one month, in writing, by email, post, or fax. The revenues generated during this notice period are still subject to the partnership agreement. The right to immediate termination by either party for important cause remains unaffected.

(2) The right to immediate termination, in particular, covers the case where the Merchant repeatedly receives negative ratings and reviews on the website, and when these are not obviously unjustified. Repeatedly providing misleading information or withholding information required to present the Merchant's items is also grounds for immediate termination. Typos, mistakes, and transmission errors are excluded from this, as long as they are not caused with intent or by gross negligence.