These Payment Terms and Conditions (“Payment Terms”) provide the payment details the lessors of commercial parking spaces (“Owners”) and
lessees of long-term or short-term parking spaces (“Renters”) shall follow when using the FinPark online sharing platform. In the event that any of the
Payment Terms contained herein conflict with any of the Finpark Terms and Conditions, the latter shall apply and shall prevail. All defined terms not
otherwise defined herein shall have the meaning attributed to them in the FinPark Terms and Conditions.
PAYMENT TERMS OF THE RENTER
- BILLING FOR EQUIPMENT ACTIVATION
Following Activation of the Reservation by a Renter, payment is due upon
invoicing by FinPark.
Should the Renter choose to extend the Reservation, payment is also due
upon invoicing by FinPark. - PRE-AUTHORIZATION OF PAYMENT AND PAYMENT
At the time of Reservation, a credit card pre-authorization for the full time
of the Reservation will be required. Upon the scheduled Activation, the
credit card will be charged for that amount.
Should the Renter decide to prepay for the Reservation prior to the
scheduled Activation, the credit card will be charged at the time of
Reservation.
If any extension is granted, the credit card will be charged upon
confirmation of the extension. - CANCELLATION FEES
If the Owner cancels a Reservation before the scheduled Activation time,
no fees will be charged, nor compensation offered, to the Renter.
Unless specified differently by an Owner on the FinPark online sharing
platform, the following cancellation fees are applicable should the Renter
cancel a Reservation:
3.1 Reservation for less than thirty (30) days
If the Renter cancels a Reservation at least two (2) hours before the
scheduled Activation time, no cancellation fees will be charged to the
Renter.
If the Renter cancels a Reservation less than two (2) hours before the
scheduled Activation or after the scheduled Activation, the Renter will be
required to pay the applicable rental payment from the first scheduled
Activation day until the time of cancellation, in addition to other additional
fees.
3.2 Reservation for thirty (30) days or more
If the Renter cancels a Reservation at least twenty-four (24) hours before
the scheduled Activation time, no cancellation fees will be charged to the
Renter.
If the Renter cancels a Reservation less than twenty-four (24) hours
before the scheduled Activation or after the scheduled Activation, the
Renter will be required to pay the applicable rental payment from the first
scheduled Activation day until the end of the on-going period of thirty (30)
days, in addition to other additional fees. - EARLY OR LATE ACTIVATION FEES
4.1 Activating the Reservation
If the Renter activates his Reservation before the scheduled Activation
time, the Renter will be billed from the actual Activation time. If the Renter
activates the Reservation after the scheduled Activation time, the
scheduled Activation time is used as the start date for billing purposes
with the Renter.
4.2 Deactivating the Reservation
. If the Renter deactivates the Reservation after the scheduled
Deactivation date, the Renter will be charged for extra days and/or hours
of use of the Space. - OTHER ADDITIONAL FEES
Any late Departure or Reservation cancellation shall be subjected to a
penalty payable by the Renter of $100.00 per day of delay, in addition to
the rental payment and other applicable rental charges. Any claims or
other fees shall be subject to FinPark Service fee. Furthermore, the
Renter will be liable to Owner for all expenses, such as towing fees.
PAYMENT TERMS OF THE OWNER
- SERVICE FEE FOR THE USE OF FINPARK BY OWNER
The Owner shall assume a FinPark service fee for each transaction. Such
fee amounts to 20% of the price for renting the Space in a Listing before
taxes. - PAYMENT OF THE OWNER’S RENTAL ACTIVITIES
On the first day of each month, FinPark will issue to the Owner a
statement of income earned on each Space rented during the previous
month, and will transfer to the Owner the amount due for such monthly
income on the first business day following the 15 th day of the month by
bank transfer. For Canadian Owners only, the Owner agrees to designate
FinPark as agent for the payment of taxes through Form FP-2506, which
must be duly signed by FinPark and the Owner. - ENTIRE AGREEMENT AND CONFLICT BETWEEN PROVISIONS
The titles of the articles of these Payment Terms have been inserted for
convenience and shall not limit or define in any way the scope of the
articles of this document and shall not affect the interpretation thereof. If
any provision hereof is deemed invalid or unenforceable, the remaining
provisions shall remain valid and continue to have full effect as if the said
invalid or unenforceable provision was never a part hereof.
