Team Partner Fee Refund Policy
ART Motorsports, Inc. provides this Team Partner Fee Refund Policy to inform you of our policies and procedures regarding refunds of Team Partner Fees. Unless otherwise defined in this Refund Policy, capitalized terms used below have the same meanings as in the Terms of Service available on our website located at http://www.americasracingteam.com (the “Website”).
1. The Team. ART Motorsports, Inc. plans to launch a NASCAR Team (the “Team”) on or before February 20, 2011 (the “Target Date”) for the purpose of entering a Sprint Cup car to attempt to qualify for the 2011 Daytona 500 (the “Event”). While ART Motorsports, Inc. intends to attempt to enter the Team in other races on the NASCAR schedule, it will, at a minimum, attempt to qualify the Team for the Event. Team Partner Fees will be used solely to establish and support the Team and to support operating costs of ART Motorsports, Inc.
2. Partial Refund if Team does not Participate in NASCAR Race. In the event an extraordinary circumstance makes it unfeasible for the Team to participate in the Event, ART Motorsports will endeavor to enter the Team into one of the next three races on the NASCAR schedule. If the Team does not participate in the Event or one of the next three races on the NASCAR schedule, we will provide you with a partial refund of your Team Partner Fee, your Team Partner account will end, and your Team Partner benefits may cease. Since the value of the merchandise provided approximates the cost of “Kids Club” and “Teen Club” Team Partner Fees, “Kids Club” and “Teen Club” Team Partners will not receive any partial refunds. If you are eligible for a partial refund, it will be an amount equal to the amount of your Team Partner Fees less the estimated value of the benefits made available to your Team Partner level as set forth in Paragraph 3 below. For example, if we do not launch the Team as set forth above, and you are a $299 a year Team Partner, we will provide you with a refund of $249.
3. Value of Benefits. For purposes of determining the amount of any partial refund under Paragraph 2 above, we will use the following valuations:
(a) Estimated Value of benefits being made available to a $299 a year Team Partner (including a registered account on our Website, merchandise such as a Team shirt, certificate and Team decals, and ticket discounts to NASCAR circuit tracks) as described on the Website: $50.00.
(b) Estimated Value of benefits being made available to a 76 Garage Club Partner (including a registered account on our Website, merchandise such as a Team shirt, framed certificate and Team decals, and ticket discounts to NASCAR circuit tracks) as described on the Website: $100.00.
(c) Estimated Value of benefits being made available to a Teen and Kids Club Partner as described on the Website: $39.00.
4. Refunds to Multi-Year Team Partners. Team Partners that have purchased multi-year Team Partner accounts and are entitled to a partial refund under paragraph 2 above will receive such partial refund with respect to the initial year of their Team Partner account as well as a full refund of their Team Partner Fee amounts in connection with the remaining annual periods of their contemplated Team Partner Account.
5. Cancellation of Your Partner Account by ART Motorsports, Inc.. ART Motorsports, Inc. reserves the right to cancel your Team Partner benefits in the event you breach any term or condition identified in our Terms of Service. In such event, you will not be entitled to any Team Partner Fee refund, your Team Partner account will be terminated, and your Team Partner benefits may cease.
6. Cancellation of Partner Account by You. If you cancel your Team Partner account by providing us written notice of your cancellation within fourteen (14) days of your registration, you may be eligible to receive a full refund of your Team Partner Fee less (i) a $20 service fee and (ii) the actual value of any merchandise already provided to you. Cancellations received by us after such fourteen (14) day period will not be eligible for any refund, except as set forth in paragraph 2 above. All benefits and incentives made available to you, including your account on our Website, may be immediately terminated upon such cancellation.
7 General. Full and partial refunds will be credited back to the original credit card or online account used for payment or, in the discretion of ART Motorsports, Inc., sent to you via check at the address you provided to us. If the Team participates in the Event or one of the three subsequent races on the NASCAR schedule, you will not qualify for any refund. All refund requests must be made by you or the holder of the credit card used by you. Refund requests must include your full name. The Team’s participation in races subsequent to the Target Date is not guaranteed, and will be dependent upon, among other things, whether we are able to obtain sufficient financing from various sources, including sponsors and additional Team Partners.