GENERAL TERMS AND CONDITIONS FOR RESERVATION

1    BACKGROUND

1.1    Polestar Performance AB, company no. 556653-3096 (“Polestar”) has designed a concept car, the Polestar O2/electric roadster. Polestar is now considering the production of a car which will be based on the Polestar O2/electric roadster ( “Car”).  An up to date description of the Car will be provided to you at the time a customer wishes to make a reservation under these terms and conditions. 

1.2    Polestar Automotive Australia Pty Ltd ABN 22 645 163 202 (“Polestar Australia”) is a subsidiary of Polestar. 

1.3    These terms and conditions shall apply between Polestar Australia and any natural or legal person (the ”Customer”) in relation to the Customer’s reservation of their place in the queue to enter into a purchase agreement for a Car, if and when the Car is produced and offered for sale(the “Agreement”). In connection with the reservation, the Customer will have to pay a reservation fee (the “Reservation Fee”) to Polestar Australia in the amount of USD 25,000.  The Reservation Fee will be held by Polestar Performance AB for an on behalf of Polestar Australia.

2    RESERVATION 

2.1    The Agreement is subject to the following prerequisites:

(a)    The Customer, if the customer is a natural person, is at least 18 years of age and has legal competence.

(b)    The Customer has read, understood, and accepted these terms and conditions.

(c)    The Customer has paid the Reservation Fee to Polestar Australia.

(d)    The Customer is not or is not acting on behalf of a person, designated on any sanctions list imposed
by the UN, EU or US. 

2.2    Payment of the Reservation Fee by the Customer places the Customer in a queue for entering into a purchase agreement for a Car, if the Car is ultimately produced and sold.   

2.3    Polestar Australia will keep the Customer updated on the development of the Car and contact the Customer, if a Car is ultimately produced and offered for sale, when a purchase agreement is ready to be entered into. This Agreement is not for the sale or purchase of a Car and does not constitute a purchase agreement, nor does it oblige the Customer or Polestar Australia to enter into a purchase agreement if the Car is ultimately produced and offered for sale. 

2.4    The Customer understands that the Car is currently not being produced or sold. Any estimated date of delivery is tentative only and Polestar Australia does not guarantee any time as to when a Car purchase agreement can be entered into or when and if the Car may be delivered.     

2.5    The purchase price provided for the Car is based on Polestar’s current reasonable estimates This estimated purchase price is subject to adjustments and Polestar Australia is not bound by any such estimate. The estimated price may vary due to currently unforeseen exchange rate variation, inflation and any changes in delivery costs, taxes and duties such as the luxury car tax and stamp duty, surcharges or other fees may be imposed by third parties. If the Customer and Polestar Australia choose to enter into a Car purchase agreement. the purchase price and the further terms and conditions regarding the purchase will be specified in the purchase agreement. 

2.6    If the Customer and Polestar Australia agree on a Car purchase agreement, the Reservation Fee will be refunded to the Customer. The Reservation Fee will be refunded within thirty (30) days after a purchase agreement is executed. It is noted and acknowledged by the Customer that the exchange rate between USD and local currency might be varied when the purchase agreement executed, and the Customer will bear risks as such.

3     CANCELLATION

3.1    This Agreement and the reservation may be cancelled in writing at any time and for any reason by Polestar Australia or by the Customer. If the reservation is cancelled, the Customer is entitled to a full refund of the Reservation Fee in the same currency that the Reservation Fee is paid, unless a Car purchase agreement has already been entered into, and the Reservation Fee has been set off under that agreement, in which case the cancellation terms under that agreement will apply. 

3.2    If the reservation is cancelled by Polestar Australia or the Customer and the Reservation Fee is returned to the Customer, the Customer no longer has any rights in relation to the reservation or the future advanced entry into a purchase agreement for a Car. 

3.3    The Customer is aware and acknowledges that the funds of the Reservation Fee will not be held separated from other financial means or in an escrow or alike and Customer confirms that it agrees that no separate trust will be established in the name of the Customer. 

3.4    The Customer is not entitled to interest on the funds of the Reservation Fee.

3.5    A cancellation is made by contacting Polestar at: [email protected]. Within a few business days following the cancellation notice, the Customer will receive instructions to provide the Customer’s bank account details for the refund of the Reservation Fee. The refund shall be made by Polestar within thirty (30) days from the day Polestar received the Customer’s bank account details. The refund will only be paid to the Customer and to the same bank account that was used when making the payment unless Polestar Australia is notified by the customer that the bank account has been closed and is provided with new bank account in the Customer’s name.  If an alternative account number is provided, Polestar Australia may request additional information from the Customer as to the identity of the Customer and other information relating to the alternate bank account. 

4    REMEDY AND LIMITATION OF LIABILITY

4.1    To the extent permitted by Australian law, the Customer’s only remedy under this Agreement is repayment of the Reservation Fee. 

4.2    To the extent permitted by Australian law, Polestar and Polestar Australia and their affiliates shall under no circumstances be held liable for any direct or indirect damage, costs, expenses or losses of any kind including but not limited to loss of profit, loss of use, or loss of goodwill arising out of or in connection to the reservation.

4.3    To the extent permitted by Australian law, the provisions of this clause 4 will apply regardless of the form of action, damage, claim, liability, cost, expense or loss whether in contract, statute, tort (including, without limitation, negligence) or otherwise.

5    PRIVACY POLICY

Polestar’s privacy policy is incorporated in these terms and conditions. The privacy policy can be found at Polestar Privacy Policy

6    MISCELLANEOUS

6.1    This Agreement constitutes the entire agreement between the Parties regarding all of the issues set forth in the Agreement, including the reservation, and supersedes any and all prior written or verbal undertakings and agreements.

6.2    The Customer may not, without the prior written consent of Polestar Australia, assign any of its rights and obligations under the reservation to a third party.

6.3    No waiver of any of the provisions of the Agreement shall be binding upon Polestar Australia unless in writing and signed by duly authorized representatives.

7    DISPUTES AND GOVERNING LAW

7.1    This Agreement shall be governed by the laws of New South Wales, Australia. 

7.2    The parties submit to the non-exclusive jurisdiction of the courts of New South Wales, Australia and the courts of appeal from them. The parties will not object to the exercise of jurisdiction by those courts on any basis.