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BUY UP FRONT TERMS AND CONDITIONS

These terms and conditions (the “Buy Up Front Terms and Conditions”) govern the purchase or attempted purchase of Merchandise (the “Merchandise”) from you by The RealReal, Inc. (“The RealReal”). 

The RealReal's Terms of Service located at: https://www.therealreal.com/terms also apply and are  included and incorporated herein by this reference.   

 

  1. OWNERSHIP OF MERCHANDISE

You hereby represent and warrant to The RealReal that (i) you are at least eighteen (18) years of age; (ii) you are the legal and equitable owner of and have good and marketable title to the Merchandise you are offering to sell to The RealReal; (iii) you have full authority to sell, transfer, and convey the Merchandise; (iv) the Merchandise will be sold free of all liens, encumbrances, liabilities, and adverse claims of every nature and description whatsoever; (v) the Merchandise does not include counterfeit goods, (vi) the Merchandise is not from, or the result of, illegal activity, including theft or fraud; and (vi) any transaction initiated by you will not cause The RealReal to be in violation of any anti-money laundering, anti-terrorism, or other applicable state or federal law of the United States of America any state or any foreign country.

The RealReal reserves the right to request and you hereby agree to provide additional documentation and/or information concerning yourself and/or the Merchandise, including all documentation or information necessary for The RealReal to authenticate your Merchandise and to comply with local, state and federal law (including The RealReal’s obligation to report all Merchandise received to the proper authorities as required by applicable law and to file Forms 8300 with the Internal Revenue Service to report high value cash transactions where applicable.)

  1. DELIVERY OF PROPERTY; RISK OF LOSS; ACCEPTANCE

You are responsible for all risk of loss or damage to the Merchandise until The RealReal takes physical possession of it; however, if you use The RealReal's approved, pre-paid shipping label and approved method of shipment to ship your Merchandise, The RealReal will assume the risk of loss or damage to the Merchandise upon shipment.  A “Shipment” means items of Property that are shipped together under one RealReal approved, pre-paid shipping label.

If an item of Merchandise is damaged, stolen, or lost while in The RealReal's possession, The RealReal will pay you an estimated purchase price (the “Estimated Purchase Price”), such Estimated Purchase Price to be determined by The RealReal in its sole discretion. Except in New Jersey, this remedy shall constitute your sole remedy and entire recourse against The RealReal for Property that is damaged, stolen, or lost and is in lieu of any other remedy otherwise available as a matter of law or equity. 

 

  1. MERCHANDISE ACCEPTANCE; COUNTERFEITS: STOLEN ITEMS

Upon presentation or receipt, The RealReal will evaluate each item of Merchandise to determine, in its sole discretion, its authenticity, quality, and value. 

In the event that The RealReal determines that it is unwilling to purchase your Merchandise, The RealReal will return ship your Merchandise to you within 5 business days pursuant to Section 7 below.

If The RealReal determines at any time that your Merchandise is counterfeit, The RealReal shall notify you that it has made such a determination and you will have an opportunity to provide proof of purchase/other proof of authenticity acceptable to The RealReal. You acknowledge and agree that any item The RealReal finally determines to be counterfeit will not be returned to you and will be destroyed. 

You acknowledge and understand that The RealReal is subject to laws and regulations relating to claims that items are counterfeit, have been stolen, or otherwise violate applicable law. The RealReal takes such reports seriously and will cooperate with law enforcement in all investigations.

 

  1. DETERMINING THE OFFER PRICE; ACCEPTING OR REJECTING THE OFFER

The RealReal will determine the offer price (the “Offer Price”) for your Merchandise using factors that we deem to be appropriate. The Offer Price will be set forth and communicated to you in a written Offer to Purchase (the “Offer to Purchase”) provided either in person at your scheduled appointment or via email if you have shipped the Merchandise to us.

You may accept the Offer to Purchase by signing the document in an in-person appointment or, if you have shipped the Merchandise to us, by signing via the email sent to you by The RealReal containing the Offer to Purchase. If you decline the Offer to Purchase, we will ship your Merchandise to you pursuant to Section 7 below. 

 

  1. PAYMENT FOR YOUR MERCHANDISE

The RealReal will issue payment of the Offer Price via the terms of and the method of payment you elect in the Offer to Purchase.  [If you elect payment for the Merchandise in cash,] you will receive an amount equal to the Offer Price in the form of (i) direct deposit or (ii) by check sent to the address provided by you on your MySales page on The RealReal site. 

 

  1. ALL SALES FINAL

ALL SALES ARE FINAL. NO REFUNDS, RETURNS OR CREDITS ARE PERMITTED. 

If you have elected to receive the Offer Price by check, the transaction is final once The RealReal has deposited payment or issued the  check to the address provided by you on your MySales page on The RealReal’s site. 

 

  1. RETURNED MERCHANDISE OUTBOUND INSURANCE, COSTS, INSURANCE

In the event that your Merchandise is returned to you in accordance with these Buy Up Front Terms and Conditions, The RealReal will ship your Merchandise to you at the address provided by you on your MySales page on The RealReal site.

 

  1. LIMITATION OF LIABILITY

THE REALREAL AND ITS SUBSIDIARIES, AFFILIATES, OFFICERS, EMPLOYEES, AGENTS, PARTNERS, AND LICENSORS SHALL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OR FOR DAMAGES (EVEN IF THE REALREAL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) RESULTING FROM: (A) THE ACTIVITIES CONTEMPLATED BY THESE BUY UP FRONT TERMS AND CONDITIONS; OR () ANY OTHER MATTER RELATING TO THE REALREAL’S SERVICES OR THESE BUY UP FRONT TERMS AND CONDITIONS.

 

  1. INDEMNITY

You agree to indemnify and hold The RealReal harmless from all damages, suits, litigation, awards, and costs, including but not limited to, reasonable attorneys’ fees and costs, incurred by The RealReal as a result of or arising in any way out of your breach of any of the representations and warranties in Section 1 of these Buy Up Front Terms and Conditions, including but not limited to, civil or criminal suits over authenticity or ownership of the Merchandise.  

You expressly consent to jurisdiction of a federal or state court located in the State of New York, with respect to any matter arising under this Section 9.      

These Buy Up Front Terms and Conditions, or the breach thereof, and all claims of any kind relating to or arising out of these Buy Up Front Terms and Conditions and the relationship between you and The RealReal, whether tort, contract, or statutory, shall be governed by the laws of the State of New York, without regard to its conflicts of laws principles.

 

  1. NOTICES

If you have any questions or comments about these Buy Up Front Terms and Conditions or The RealReal’s services, please contact The RealReal by email at contact@therealreal.com.

You also may write to The RealReal at:

The RealReal, Inc.
Attn: Legal Department
55 Francisco St., 6th floor 
San Francisco, CA 94133

The RealReal shall provide all notices to you at the email address or physical address provided by you on your MySales page on The RealReal site.  You are solely responsible for keeping that information current with The RealReal.

You hereby agree that all Terms and Conditions, including these Buy Up Front Terms and Conditions, notices, disclosures, and other communications that The RealReal provides electronically to you satisfy any legal requirement that such communications be in writing.

 

  1. DISPUTE RESOLUTION

YOU EXPRESSLY AGREE THAT ANY CLAIMS, LAWSUITS, ACTIONS, DISPUTES, CONTROVERSIES OR OTHER MATTERS AGAINST THE REALREAL ARISING OUT OF, OR RELATING TO, THIS AGREEMENT OR BREACH THEREOF SHALL BE SETTLED SOLELY AND EXCLUSIVELY VIA BINDING ARBITRATION PURSUANT TO THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION PURSUANT TO THE FEDERAL ARBITRATION ACT, WHICH ARBITRATION SHALL TAKE PLACE IN THE COUNTY OF NEW YORK, BOROUGH OF MANHATTAN. You expressly agree that any such Arbitrator has personal jurisdiction over you. You waive all defenses of lack of personal jurisdiction and forum non-convenience. You agree that each party shall bear its own attorneys’ fees and expenses. You agree to abide by all decisions and awards rendered in such Arbitration proceedings, and that such decisions and awards rendered by the Arbitrator shall be final and conclusive. You agree that the Arbitrator shall not have the right to award consequential, punitive, speculative, indirect, incidental, special, or exemplary damages. The Arbitrator shall be required to follow applicable New York law. You agree that venue shall be in the County of New York, Borough of Manhattan.

 

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