Awaiting qualified legal review
This legal document is stored as an editable draft and has not been signed off by qualified legal counsel. It must be reviewed for your contracting entities and customer jurisdictions before you rely on it in production.
Contracting entity: the seller named on your invoice. Where an order is placed with a different MOTORS EU entity, that entity is named on the invoice and in the order confirmation.
What it does
A reservation (10% of the vehicle price) or a deposit (40%) holds a specific vehicle and is credited against the purchase price unless stated otherwise.
Hold period
A reservation holds the vehicle for 72 hours pending verified payment. If payment is not verified within that period, the hold may be released and the vehicle returned to available stock.
Refund and cancellation
A reservation is refundable in full within 48 hours of payment. After that period it is credited against the vehicle price and cancellation may forfeit the amount, as stated on the invoice issued to your account before payment.
Confirmation
A reservation is confirmed only once a finance officer has verified cleared funds. Until then it is recorded as awaiting payment and the vehicle is not treated as sold.