Reservation Terms

Effective April 23, 2021

PLEASE READ THESE RESERVATION TERMS CAREFULLY. BY ACCESSING OR PARTICIPATING IN THE FISKER RESERVATION PROGRAM, YOU AGREE TO BE BOUND BY THESE TERMS, WHICH ARE INCORPORATED INTO THE TERMS OF USE, AND ALL OTHER APPLICABLE TERMS (COLLECTIVELY, "RESERVATION TERMS"). IF YOU DO NOT AGREE TO THESE RESERVATION TERMS, DO NOT ACCESS OR PARTICIPATE IN THE FISKER RESERVATION PROGRAM.

By making your reservation, you understand and agree to the following:

1. PLEASE READ THESE TERMS CAREFULLY. THEY INCLUDE AN AGREEMENT TO MANDATORY ARBITRATION FOR USERS IN THE UNITED STATES, WHICH MEANS THAT YOU AGREE TO SUBMIT ANY DISPUTE RELATED TO YOUR USE OF ANY OF THE SITES TO BINDING INDIVIDUAL ARBITRATION RATHER THAN PROCEED IN COURT. THIS PROVISION ALSO INCLUDES A CLASS ACTION WAIVER, WHICH MEANS THAT YOU AGREE TO PROCEED WITH ANY DISPUTE INDIVIDUALLY AND NOT AS PART OF A CLASS ACTION. THIS AGREEMENT ALSO INCLUDES A JURY WAIVER.

2. By participating in this Program you are agreeing to these Reservation Terms, and have read and understood the Fisker Privacy Policy. In the event of any conflict between the Terms of Use and these Reservation Terms, the Reservation Terms control.

3. The Reservation Terms are not an agreement to purchase nor for the flexible lease of a Fisker EV vehicle, nor does it constitute a purchase or order of a Fisker EV vehicle and will not be recognized as such in official company communications.

4. The $250 payment made under the Reservation Terms (the “Reservation Payment”) secures an approximate reservation position to place a flexible lease or purchase of a Fisker EV vehicle.

5. This reservation becomes effective under the Reservation Terms once Fisker Group Inc. receives the full $250 deposit and you accept the terms and conditions.

6. When the start of production for your reservation nears, you will be notified about the availability of different vehicle configurations and different prices. At that time you will then need to choose your preferred configuration. Depending on the availability and your choice, Fisker Group Inc. will then create either a purchase agreement or a flexible lease agreement for your vehicle, indicating the full purchase price or the initial subscription price of the vehicle, monthly subscription fee, plus estimates of applicable taxes, and provide the purchase or flexible lease agreement for your review.

7. In the event of a flexible lease, the initial down payment will include an initiation fee, activation fee, and, to the extent available and applicable, any offsets received from a relevant local EV tax credit, if any.

8. You may cancel this reservation at any time, for any reason or no reason, by sending notice to Fisker Group Inc. through the Fisker app at any time prior to entering into the purchase or flexible lease agreement.

9. This Reservation Payment is refundable subject to a ten percent (10%) processing fee in the event you cancel your reservation at any time prior to entering into the purchase or flexible lease agreement. All refunds will be made within 60 days of receipt of written notice of cancellation, provided the correct payment details are provided to Fisker Group Inc.

10. If you proceed with the order, Fisker Group Inc. will apply this Reservation Payment towards the purchase or flexible lease order payment.

11. Fisker Group Inc. will not pay any interest on the Reservation Payment, regardless of whether the Reservation Payment is applied to the purchase or flexible lease of a Fisker EV vehicle, or if the Reservation Payment is returned to you.

12. Reservations are limited to one reservation per user.

13. This reservation is not transferable or assignable to another party.

14. Fisker Group Inc. may cancel this reservation at any time, for any reason or no reason, by sending notice to you. In the event your reservation is cancelled by Fisker Group Inc., you will receive a refund within 60 days of the cancellation. Said refund may be subject to a ten percent (10%) processing fee.

15. Fisker Group Inc. may ask you to provide further information it deems necessary to secure your reservation, which you agree to supply in a reasonably timely manner. Fisker Group Inc. will maintain your personal information in accordance with its Privacy Policy.

16. Through the Reservation Terms, Fisker Group Inc. makes no representations on the development or definitive delivery dates for the Fisker EV. Production and delivery dates may vary from region to region at the sole discretion of Fisker Group Inc.

17. Through the Reservation Terms, Fisker Group Inc. makes no representations on the final design, vehicle specifications or price of the Fisker EV. Final design, vehicle specifications and price may change between the time you enter into your Reservation Agreement and the time you enter into your purchase or flexible lease agreement.

18. Fisker Group Inc. is not responsible for any representations made by third parties regarding the production, delivery date, price, options, or any other information about the vehicle.

19. These Reservation Terms may change.

20. DISPUTE RESOLUTION

Initial Dispute Resolution

We are available by e-mail at support@fiskerinc.com to address any concerns you may have regarding your use of the Fisker Properties. Most concerns may be quickly resolved in this manner. You agree to use best efforts to settle any dispute, claim, question, or disagreement directly through consultation and good faith negotiations which shall be a precondition to either party initiating a lawsuit or arbitration.

Agreement to Binding Arbitration

If we do not reach an agreed-upon solution within a period of thirty (30) days from the time informal dispute resolution is initiated, then either you or we may initiate binding arbitration. All claims arising out of or relating to the Agreement (including its formation, performance and breach), the scope of this arbitration clause, the parties’ relationship with each other and/or your use of the Fisker Properties shall be finally settled by binding arbitration administered on a confidential basis by the American Arbitration Association ("AAA"), in accordance with the AAA Arbitration Rules and Procedures, as modified herein, and excluding any rules or procedures governing or permitting class actions. Each party will have the right to use legal counsel in connection with arbitration at its own expense. The parties shall select a single neutral arbitrator in accordance with the AAA Arbitration Rules and Procedures. The arbitrator, and not any federal, state or local court or agency, shall have exclusive authority to resolve all disputes arising out of or relating to the interpretation, applicability, enforceability or formation of the Agreement, including, but not limited to, any claim that all or any part of the Agreement is void or voidable. The arbitrator shall be empowered to grant whatever relief would be available in a court under law or in equity. The arbitrator’s award shall be in writing and provide a statement of the essential findings and conclusions, shall be binding on the parties and may be entered as a judgment in any court of competent jurisdiction. The interpretation and enforcement of this Agreement shall be subject to the Federal Arbitration Act. If you initiate arbitration, to the extent the filing fee for the arbitration exceeds Two Hundred and Fifty U.S. Dollars ($250), and the claim is found to be non-frivolous, we will pay the additional cost. You will not be required to pay fees and costs incurred by us if you do not prevail in arbitration. You understand that, absent this mandatory provision, you would have the right to sue in court and have a jury trial. You further understand that the right to discovery and appeal, among others, may be more limited in arbitration than in court.

Contact Us For more information about the Reservation Terms, please contact us at support@fiskerinc.com.

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