Terms of Service

This page explains our terms of use. When you use LotStocks, you’re agreeing to all the rules on this page. Some of them need to be explained in legal language but we’ve done our best to offer clear simple explanations of what everything means. Those summaries are in bold and to be clear are not part of the official legal terms.


Welcome to LotStocks. By using this website (the “Site”) and services (together with the Site, the “Services”) offered by LotStocks Inc, PBC (together with its parents, subsidiaries, affiliates, agents, representatives, consultants, employees, officers, and directors — collectively, “LotStocks,” “we,” or “us”), you’re agreeing to these legally binding rules (the “Terms”). You’re also agreeing to our Privacy Policy and agreeing to follow any other rules on the Site.

We may change these terms from time to time. If we do, we’ll let you know about any material changes, either by notifying you on the Site or by sending you an email. New versions of the terms will never apply retroactively — we’ll tell you the exact date they go into effect. If you keep using LotStocks after a change, that means you accept the new terms.

LotStocks is for your personal, non-commercial use.



Creating an Account

To Sign up for a LotStocks account, you need to be 18 or over. You’re responsible for your account and all the activity on it.

You can browse LotStocks without registering for an account. But to use some of LotStocks’ functions, you’ll need to register, choose an account name, and set a password. When you do that, the information you give us has to be accurate and complete. Don’t impersonate anyone else or choose names that are offensive or that violate anyone’s rights. If you don’t follow these rules, we may cancel your account.

You’re responsible for all the activity on your account, and for keeping your password confidential. If you find out that someone’s used your account without your permission, you should report it to support@LotStocks.com.

To sign up for an account, you need to be at least 18 years old, or old enough to form a binding contract where you live. If necessary, we may ask you for proof of age.



Don’t do this stuff, aka don’t be a jerk

Below is a list of stuff you should know not to do but we have to say it anyway. To be clear, just don’t do these things.

We expect all of them to behave responsibly and help keep this a nice place. Don’t do any of these things on the Site:

We’ve done our best to keep LotStocks secure but for every security measure there will always be someone to find a way around it so don’t do any of these things.



How Lot’s Work.

This section explains the relationship with between LotStocks and You and who’s responsible for what.

Lotstocks provides a funding platform for acquiring products. When lotstocks creates a Lot on LotStocks, we’re inviting people to form a contract with us. Anyone who pledges to a Lot is accepting that contract.

When a Lot is successfully funded, Lotstocks will begin the Lot process by distributing shares to those who pledged. Once we have done so we have fulfilled our obligation to those who pledged.

Throughout the Lot process, we owe those shareholders a high standard of effort, honest communication, and a dedication to bringing that product to market. At the same time, shareholders much understand that when they pledged to a Lott, they’re helping acquire something, not ordering something already in inventory. There may be delays, and there is a chance that something could happen that prevents LotStocks from being able to acquire the product as promised.

If LotStocks is unable to acquire the product, we have failed to live up to the basic obligations of this agreement. To right this, we must take every reasonable effort to find another way to acquire the product to the best possible conclusion for shareholders. Lotstocks, in this positions, has only remedied the situation and met their obligations to the shareholders if:



How Funding Works

This section covers the details of pledging to a Lot. Things like how money gets collected, whether pledges can be changed or cancelled, and how LotStocks can contact shareholders to provide refunds.

These are the terms that apply when you’re pledging a Lot:

These are the terms that apply when we create a Lot:



Our Fee’s

Our fee’s vary depending on which plan you choose and how you interact with LotStocks. There are two plans to choose from when signing up with LotStocks.


Other Websites

If you follow a link to another website, what happens there is between you and them - not us.

LotStocks may contain links to other websites. (For instance, Product pages may link to other sites.) When you access third-party websites, you do so at your own risk. We don’t control or endorse those sites.

LotStocks partners with other companies (such as Stripe) for payment processing. When you pledge to a Lot, you’re also agreeing to the payment processor’s terms of service.


Deleting your account

You can delete your account at any time. All provisions of this agreement survive termination of an account.  To terminate your account you have to do the following:


Our Rights

To operate, we need to be able to maintain control over what happens on our website. In this section, we reserve the right to make decisions to protect the health and integrity of our system. We don’t take these powers lightly, and we only use them if we absolutely have to.

LotStocks reserves these rights:

LotStocks is not liable for any damages as a result of any of these actions, and it is our policy not to comment on the reasons for any such action.


Warranty Disclaimer

We work hard t provide you with great services, but we can’t guarantee everything will always work perfectly. This site is presented as-is, without warranties.

You use our Services solely at your own risk. They are provided to you “as is” and “as available” and without warranty of any kind, express or implied.

LOTSTOCKS SPECIFICALLY DISCLAIMS ANY AND ALL WARRANTIES AND CONDITIONS OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTIES IMPLIED BY ANY COURSE OF DEALING, COURSE OF PERFORMANCE, OR USAGE OF TRADE. NO ADVICE OR INFORMATION (ORAL OR WRITTEN) OBTAINED BY YOU FROM LOTSTOCKS SHALL CREATE ANY WARRANTY.



Indemnification

If you do something on LotStocks that winds up getting us sued, you have to help defend us.

If you do something that gets us sued, or break any of the promises you make in this agreement, you agree to defend, indemnify, and hold us harmless from all liabilities, claims, and expenses (including reasonable attorneys’ fees and other legal costs) that arise from or relate to your use or misuse of LotStocks. We reserve the right to assume the exclusive defense and control of any matter otherwise subject to this indemnification clause, in which case you agree that you’ll cooperate and help us in asserting any defenses.


Limitation of Liability

If something bad happens as a result of your using LotStocks, we’re not liable (Beyond a small amount)

To the fullest extent permitted by law, in no event will LotStocks, its directors, employees, partners, suppliers, or content providers be liable for any indirect, incidental, punitive, consequential, special, or exemplary damages of any kind, including but not limited to damages (i) resulting from your access to, use of, or inability to access or use the Services; (ii) for any lost profits, data loss, or cost of procurement or substitute goods or services; or (iii) for any conduct of content of any third party on the Site. In no event shall LotStocks’ liability for direct damages be in excess of (in the aggregate) one hundred U.S. dollars ($100.00).



Dispute Resolution and Governing Law

We’re located in California, and any disputes with us have to be handled in California under California State Law.

We at LotStocks encourage you to contact us if you’re having an issue, before resorting to the courts. In the unfortunate situation where legal action does arise, these Terms (and all other rules, policies, or guidelines incorporated by reference) will be governed by and construed in accordance with the laws of the State of California and the United States, without giving effect to any principles of conflicts of law, and without application of the Uniform Computer Information Transaction Act or the United Nations Convention of Controls for International Sale of Goods. You agree that LotStocks and its Services are deemed a passive website that does not give rise to jurisdiction over LotStocks or its parents, subsidiaries, affiliates, assigns, employees, agents, directors, officers, or shareholders, either specific or general, in any jurisdiction other than the State of California. You agree that any action at law or in equity arising out of or relating to these Terms, or your use or non-use of LotStocks, shall be filed only in the state or federal courts located in Los Angeles County in the State of California, and you hereby consent and submit to the personal jurisdiction of these courts for the purposes of litigating any such action. You hereby irrevocably waive any right you may have to trial by jury in any dispute, action, or proceeding.


The Rest

These are our official terms and our rules for how things work. (So if you ever see confusing or conflicting information about any of this stuff, just check these terms — they’re the last word.) Thanks so much for reading them, and for using LotStocks!

These Terms and the other material referenced in them are the entire agreement between you and LotStocks with respect to the Services. They supersede all other communications and proposals (whether oral, written, or electronic) between you and LotStocks with respect to the Services and govern our future relationship. If any provision of these Terms is found to be invalid under the law, that provision will be limited or eliminated to the minimum extent necessary so that the Terms otherwise will remain in full force and effect and enforceable. The failure of either you or LotStocks to exercise any right provided for in these Terms in any way won’t be deemed a waiver of any other rights.

These Terms are personal to you. You can’t assign them, transfer them, or sublicense them unless you get LotStocks’ prior written consent. LotStocks has the right to assign, transfer, or delegate any of its rights and obligations under these Terms without your consent. LotStocks will provide you notice via email, written notice, or by conspicuously posting the notice on our Site.

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